Southwest Gas Holdings, Inc 10-Q for FY2026 Q3

Southwest Gas Holdings, Inc. (SWX)

10-Q 2026-11-04 For: 2026-09-30

Added on November 04, 2026

About this 10-Q

Southwest Gas Holdings, Inc filed this 10-Q on November 4, 2026, covering the quarter ended September 30, 2026 (FY2026 Q3).

Southwest Gas Holdings’ natural gas subsidiary received approximately $47.8 million of incremental annual revenue from Nevada and $32.6 million from California. It invested $787.2 million year-to-date; the holding company had nearly $657.4 million of available liquidity. AI summary

Headline figures

Quarter ended September 30, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Net income: $12.78M; down 95.1% from net income of $262.63M a year earlier
Diluted EPS: $0.18; down 95.0% from $3.63 a year earlier

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Commission File Number	Exact name of registrant as specified in its charter and principal office address and telephone number			State of Incorporation	I.R.S. Employer Identification No.
001-37976	Southwest Gas Holdings, Inc.			Delaware	81-3881866
	8360 S. Durango Drive
	Las Vegas,	Nevada	89113
	(702)	876-7237

1-7850	Southwest Gas Corporation			California	88-0085720
	8360 S. Durango Drive
	Las Vegas,	Nevada	89113
	(702)	876-7237


SOUTHWEST GAS HOLDINGS, INC.						Form 10-Q
SOUTHWEST GAS CORPORATION						September 30, 2026


SOUTHWEST GAS HOLDINGS, INC.						Form 10-Q
SOUTHWEST GAS CORPORATION						September 30, 2026


Abbreviation or Acronym	Definition	Abbreviation or Acronym	Definition
ACC	Arizona Corporation Commission	FERC	Federal Energy Regulatory Commission
AFUDC	Allowance for Funds Used During Construction	GAAP	Accounting principles generally accepted in the United States
All-Party Settlement	Filed in September 2025 agreeing to a revenue increase, before consideration of the litigated capital structure and cost of capital.	GCBA	Gas Cost Balancing Account
AOCI	Accumulated Other Comprehensive Income (Loss)	GRA	General Revenues Adjustment
ARA	Annual Rate Adjustment	Great Basin	Great Basin Gas Transmission Company
ASU	Accounting Standards Update	MD&A	Management’s Discussion and Analysis
ATM	Automatic Trigger Mechanism	PBOP	Post-retirement Benefits Other than Pensions
ATM program	At-the-market equity offering program	PGA	Purchased Gas Adjustment
Bcf	Billion cubic feet	PUCN	Public Utilities Commission of Nevada
Board	Board of Directors of Southwest Gas Holdings, Inc.	QRP	Qualified Retirement Plan
CEO	Chief Executive Officer	RAM	Rate Adjustment Mechanism
Centuri, or Utility Infrastructure Services	Centuri Group, Inc. for periods prior to April 22, 2024, or subsequently, Centuri Holdings, Inc.	Reform Act	Private Securities Litigation Reform Act of 1995
CODM	Chief operating decision maker	RNG	Renewable Natural Gas
COLI	Company-owned life insurance	SB	Senate Bill
Company	Southwest Gas Holdings, Inc. (together with its subsidiaries)	SEC	U.S. Securities and Exchange Commission
COYL	Customer-Owned Yard Line	SERP	Supplemental Executive Retirement Plan
CPUC	California Public Utilities Commission	SIM	System Integrity Mechanism
DCA	Delivery Charge Adjustment	Southwest Gas, or Natural Gas Distribution	Southwest Gas Corporation and its subsidiaries
DEAA	Deferred Energy Accounting Adjustment	Southwest Gas Holdings	Southwest Gas Holdings, Inc. (standalone)
Deadband	A specified range, approved by the ACC, around an authorized return on equity within which a utility’s earnings are allowed to fluctuate without triggering an annual rate adjustment.	SOFR	Secured Overnight Financing Rate
EADIT	Excess Accumulated Deferred Income Taxes	TEAM	Tax Expense Adjustor Mechanism
EPS	Earnings Per Share	U.S.	United States
Exchange Act	Securities Exchange Act of 1934, as amended	VIER	Variable Interest Expense Recovery
FASB	Financial Accounting Standards Board


SOUTHWEST GAS HOLDINGS, INC.						Form 10-Q
SOUTHWEST GAS CORPORATION						September 30, 2026


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


	September 30, 2026		December 31, 2025
ASSETS
Regulated operations plant:
Gas plant	$	12,077,830	$	11,517,031
Less: accumulated depreciation	(3,201,513)		(3,063,363)
Construction work in progress	400,857		236,871
Net regulated operations plant	9,277,174		8,690,539
Other property and investments, net	187,006		178,826
Current assets:
Cash and cash equivalents	53,364		576,645
Accounts receivable, net of allowances	106,623		170,601
Accrued utility revenue	53,200		101,600
Income taxes receivable, net	12,638		9,611
Deferred purchased gas costs	2,343		5,214
Materials, supplies, and gas inventories	92,390		93,823
Prepaid and other current assets	343,134		234,598
Total current assets	663,692		1,192,092
Noncurrent assets:
Goodwill	11,155		11,155

Deferred charges and other assets	427,041		356,865
Total noncurrent assets	438,196		368,020
Total assets	$	10,566,068	$	10,429,477
CAPITALIZATION AND LIABILITIES
Capitalization:
Common stock, $1 par (authorized - 120,000,000 shares; issued and outstanding - 72,467,080 and 72,224,593 shares)	$	74,097	$	73,854
Additional paid-in capital	2,916,385		2,898,965
Accumulated other comprehensive loss, net	(10,060)		(34,546)
Retained earnings	1,121,577		1,022,846
Total equity	4,101,999		3,961,119
Long-term debt, less current maturities	3,499,280		3,433,012
Total capitalization	7,601,279		7,394,131
Current liabilities:
Current maturities of long-term debt	32,500		75,000
Accounts payable	157,992		225,732
Customer deposits	65,704		67,249
Accrued general taxes	63,962		54,384


	September 30, 2026		December 31, 2025
Accrued interest	37,287		35,319
Deferred purchased gas costs	264,369		310,085
Dividends declared	—		44,779
Other current liabilities	127,198		117,350
Total current liabilities	749,012		929,898
Deferred income taxes and other credits:
Deferred income taxes and investment tax credits, net	1,037,598		977,312
Accumulated removal costs	522,233		496,000
Other deferred credits and other long-term liabilities	655,946		632,136
Total deferred income taxes and other credits	2,215,777		2,105,448
Total capitalization and liabilities	$	10,566,068	$	10,429,477


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Regulated operations revenues	$	298,183	$	316,911	$	1,241,456	$	1,459,645
Operating expenses:
Net cost of gas sold	20,119		42,685		166,715		429,398
Operations and maintenance	136,839		134,777		403,632		402,945
Depreciation and amortization	80,981		79,073		258,430		241,703
Taxes other than income taxes	24,689		23,368		73,451		70,379
Total operating expenses	262,628		279,903		902,228		1,144,425
Operating income	35,555		37,008		339,228		315,220
Other income and (expenses):
Net interest deductions	(41,317)		(49,003)		(131,112)		(156,787)
Other income	13,764		15,367		36,050		42,629
Total other (expenses)	(27,553)		(33,636)		(95,062)		(114,158)
Income from continuing operations before income taxes	8,002		3,372		244,166		201,062
Income tax expense (benefit)	(4,781)		7,039		50,887		71,172
Income (loss) from continuing operations	12,783		(3,667)		193,279		129,890
Income from discontinued operations, net of income tax	—		263,784		—		201,814
Net income	12,783		260,117		193,279		331,704
Net loss attributable to noncontrolling interests	—		(2,517)		—		(4,646)
Net income attributable to Southwest Gas Holdings, Inc.	$	12,783	$	262,634	$	193,279	$	336,350

Basic earnings (loss) per share:
Continuing operations	$	0.18	$	(0.05)	$	2.67	$	1.80
Discontinued operations	—		3.69		—		2.86
Net earnings (loss) per share - basic	$	0.18	$	3.64	$	2.67	$	4.66

Diluted earnings (loss) per share:
Continuing operations	$	0.18	$	(0.05)	$	2.66	$	1.79
Discontinued operations	—		3.68		—		2.86
Net earnings (loss) per share - diluted	$	0.18	$	3.63	$	2.66	$	4.65

Weighted average shares:
Basic	72,565		72,209		72,508		72,104
Diluted	72,823		72,405		72,686		72,265


Change in cash and cash equivalents, including discontinued operations	(523,281)		414,842
Cash and cash equivalents, including discontinued operations, at beginning of period	576,645		363,789
Cash and cash equivalents, including discontinued operations, at end of period	$	53,364	$	778,631

SUPPLEMENTAL INFORMATION:
Interest paid, net of amounts capitalized - continuing operations	$	125,300	$	148,776
Interest paid, net of amounts capitalized - discontinued operations	—		43,300
Interest paid, net of amounts capitalized	$	125,300	$	192,076

Income taxes (benefit) paid, net - continuing operations	$	557	$	—
Income taxes paid, net - discontinued operations	—		29,237
Income taxes paid, net	$	557	$	29,237

Decrease of capital expenditures in Accounts payable or Other current liabilities- continuing operations	$	(22,600)	$	(800)
Decrease of capital expenditures in Accounts payable or Other current liabilities - discontinued operations	—		(9,186)
Decrease of capital expenditures in Accounts payable or Other current liabilities	$	(22,600)	$	(9,986)

Equity AFUDC capitalized in regulated operations plant - continuing operations	$	8,305	$	4,412
Equity AFUDC capitalized in regulated operations plant - discontinued operations	—		—
Equity AFUDC capitalized in regulated operations plant	$	8,305	$	4,412


	Common stock shares
	Number of Shares	Stated Value		Additional Paid-in Capital		AOCI		Retained Earnings		Total Equity
Balance, December 31, 2025	72,224	$	73,854	$	2,898,965	$	(34,546)	$	1,022,846	$	3,961,119
Net income	—	—		—		—		138,374		138,374
Common stock issuances	149	149		2,483		—		—		2,632
Dividends declared ($0.62 per share)	—	—		—		—		(893)		(893)
Net actuarial gain arising during period, less amortization of unamortized benefit plan cost, net of tax	—	—		—		446		—		446
Balance, March 31, 2026	72,373	74,003		2,901,448		(34,100)		1,160,327		4,101,678
Net income	—	—		—		—		42,122		42,122
Common stock issuances	71	71		4,070		—		—		4,141
Dividends declared ($0.645 per share)	—	—		—		—		(46,820)		(46,820)
Net actuarial gain arising during period, less amortization of unamortized benefit plan cost, net of tax and regulatory adjustment	—	—		—		24,169		—		24,169
Balance, June 30, 2026	72,444	74,074		2,905,518		(9,931)		1,155,629		4,125,290
Net income	—	—		—		—		12,783		12,783
Common stock issuances	23	23		10,867		—		—		10,890
Dividends declared ($0.645 per share)	—	—		—		—		(46,835)		(46,835)
Net actuarial gain arising during period, less amortization of unamortized benefit plan cost, net of tax and regulatory adjustment	—	—		—		(129)		—		(129)
Balance, September 30, 2026	72,467	$	74,097	$	2,916,385	$	(10,060)	$	1,121,577	$	4,101,999


(In thousands)	September 30, 2026		December 31, 2025
Net cash surrender value of COLI policies	$	174,150	$	165,551
Other property	2,274		4,396
Total Southwest Gas Corporation	176,424		169,947
Other property and investments	10,582		8,879
Total Southwest Gas Holdings, Inc.	$	187,006	$	178,826


	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2026		2025		2026		2025
Southwest Gas Corporation:
Change in value of COLI policies (1)	$	5,000	$	2,700	$	8,300	$	6,500
Interest income	3,567		5,688		9,298		17,315
Equity AFUDC	3,823		1,501		8,305		4,412
Other components of net periodic benefit gain	2,195		4,369		6,585		13,106
Miscellaneous income and (expense)	(1,412)		(981)		(5,180)		(948)
Southwest Gas Corporation - total other income (deductions)	13,173		13,277		27,308		40,385
Southwest Gas Holdings, Inc.:
Interest income	712		2,140		7,852		2,504
Equity in earnings (loss) of unconsolidated investments	(92)		(2)		1,005		(146)
Miscellaneous income and (expense)	(29)		(48)		(115)		(114)
Southwest Gas Holdings, Inc. – total other income (deductions)	$	13,764	$	15,367	$	36,050	$	42,629


	September 30,				December 31,
	2026				2025
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Southwest Gas Holdings, Inc. and Southwest Gas Corporation:
Debentures:
8% Series, due August 2026	$	—	$	—	$	75,000	$	76,388
Medium-term notes, 7.92% series, due June 2027	25,000		25,310		25,000		26,058
Medium-term notes, 6.76% series, due September 2027	7,500		7,560		7,500		7,726
Notes, 5.8%, due December 2027	300,000		301,890		300,000		309,090
Notes, 3.7%, due April 2028	300,000		292,950		300,000		297,450
Notes, 5.45%, due February 2028	300,000		300,180		300,000		307,620
Notes, 2.2%, due June 2030	450,000		397,620		450,000		409,365
Notes, 4.05%, due March 2032	600,000		548,640		600,000		579,540
Notes, 6.1%, due February 2041	125,000		120,925		125,000		130,762
Notes, 4.875%, due October 2043	250,000		203,000		250,000		219,350
Notes, 3.8%, due September 2046	300,000		207,090		300,000		228,180
Notes, 4.15%, due June 2049	300,000		211,380		300,000		237,120
Notes, 3.18%, due August 2051	300,000		180,630		300,000		205,710
Unamortized discount and debt issuance costs	(20,672)				(23,207)
	3,236,828				3,309,293
Revolving credit facility and commercial paper	96,000				—
Industrial development revenue bonds:
Tax-exempt Series A, due December 2028	50,000		50,000		50,000		50,000
2003 Series A, due March 2038	50,000		50,000		50,000		50,000
2008 Series A, due March 2038	50,000		50,000		50,000		50,000
2009 Series A, due December 2039	50,000		50,000		50,000		50,000
Unamortized discount and debt issuance costs	(1,048)				(1,281)
	198,952				198,719
Less: current maturities	32,500				75,000
Southwest Gas Holdings, Inc. and Southwest Gas Corporation total long-term debt, less current maturities	$	3,499,280			$	3,433,012


SOUTHWEST GAS HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share amounts)
(Unaudited)


	Three Months Ended September 30, 2025						Nine Months Ended September 30, 2025
	As Reported		Adjustments		As Restated		As Reported		Adjustments		As Restated

















Income tax expense (benefit)	$	(803)	$	7,842	$	7,039	$	36,059	$	35,113	$	71,172
Income (loss) from continuing operations, net of income tax	4,175		(7,842)		(3,667)		165,003		(35,113)		129,890

Net income (loss)	267,959		(7,842)		260,117		366,817		(35,113)		331,704

Net income (loss) attributable to Southwest Gas Holdings, Inc.	$	270,476	$	(7,842)	$	262,634	$	371,463	$	(35,113)	$	336,350

Earnings (loss) per share attributable to Southwest Gas Holdings, Inc.:
Continuing operations	$	0.06	$	(0.11)	$	(0.05)	$	2.29	$	(0.49)	$	1.80

Net earnings (loss) per share - basic	$	3.75	$	(0.11)	$	3.64	$	5.15	$	(0.49)	$	4.66

Diluted earnings (loss) per share:
Continuing operations	$	0.06	$	(0.11)	$	(0.05)	$	2.28	$	(0.49)	$	1.79

Net earnings (loss) per share - diluted	$	3.74	$	(0.11)	$	3.63	$	5.14	$	(0.49)	$	4.65

Weighted average shares:
Basic	72,209				72,209		72,104				72,104
Diluted	72,405				72,405		72,265				72,265


SOUTHWEST GAS HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands)
(Unaudited)
	Three Months Ended September 30, 2025						Nine Months Ended September 30, 2025
	As Reported		Adjustments		As Restated		As Reported		Adjustments		As Restated
Net income (loss)	$	267,959	$	(7,842)	$	260,117	$	366,817	$	(35,113)	$	331,704








Comprehensive income (loss)	266,566		(7,842)		258,724		372,774		(35,113)		337,661

Comprehensive income (loss) attributable to Southwest Gas Holdings, Inc.	$	269,879	$	(7,842)	$	262,037	$	377,131	$	(35,113)	$	342,018


SOUTHWEST GAS HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

	Nine Months Ended September 30, 2025
	As Reported		Adjustments		As Restated
CASH FLOW FROM OPERATING ACTIVITIES:
Net income (loss)	$	366,817	$	(35,113)	$	331,704

Income (loss) from continuing operations, net of income tax	165,003		(35,113)		129,890
Adjustments to reconcile net income to net cash provided by operating activities:

Deferred income taxes	48,141		35,113		83,254












Net cash provided by operating activities of continuing operations	509,136		—		509,136

Net cash provided by operating activities	$	474,508	$	—	$	474,508


SOUTHWEST GAS HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EQUITY
(In thousands)
(Unaudited)

	As Reported		Adjustments		As Restated
Net loss attributable to Southwest Gas Holdings, Inc., for the three months ended June 30, 2025	$	(12,883)	$	(27,271)	$	(40,154)
Retained earnings, June 30, 2025	769,723		(27,271)		742,452
Total equity attributable to Southwest Gas Holdings, Inc., June 30, 2025	3,674,657		(27,271)		3,647,386
Total equity, June 30, 2025	4,115,805		(27,271)		4,088,534
Net income (loss) attributable to Southwest Gas Holdings, Inc., for the three months ended September 30, 2025	270,476		(7,842)		262,634
Retained earnings, September 30, 2025	999,399		(35,113)		964,286
Total equity attributable to Southwest Gas Holdings, Inc., September 30, 2025	3,928,679		(35,113)		3,893,566
Total equity, September 30, 2025	$	3,928,679	$	(35,113)	$	3,893,566


SOUTHWEST GAS CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands)
(Unaudited)

	Three Months Ended September 30, 2025						Nine Months Ended September 30, 2025
	As Reported		Adjustments		As Revised		As Reported		Adjustments		As Revised
Regulated operations revenues	$	316,911	$	—	$	316,911	$	1,459,645	$	2,100	$	1,461,745
Operating income	37,977		—		37,977		318,298		2,100		320,398
Income before income taxes	5,098		—		5,098		223,159		2,100		225,259
Income tax expense (benefit)	(422)		(823)		(1,245)		41,020		(10,345)		30,675
Net income	$	5,520	$	823	$	6,343	$	182,139	$	12,445	$	194,584


SOUTHWEST GAS CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands)
(Unaudited)

	Three Months Ended September 30, 2025						Nine Months Ended September 30, 2025
	As Reported		Adjustments		As Revised		As Reported		Adjustments		As Revised
Net income	$	5,520	$	823	$	6,343	$	182,139	$	12,445	$	194,584
Comprehensive income	$	5,789	$	823	$	6,612	$	182,943	$	12,445	$	195,388


SOUTHWEST GAS CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

	Nine Months Ended September 30, 2025
	As Reported		Adjustments		As Revised
CASH FLOW FROM OPERATING ACTIVITIES:
Net income	$	182,139	$	12,445	$	194,584
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes	52,890		(10,345)		42,545
Changes in current assets and liabilities:
Accounts receivable, net of allowance	92,372		(2,100)		90,272
Deferred purchased gas costs	114,768		1,997		116,765
Accounts payable	(66,237)		(1,997)		(68,234)
Net cash provided by operating activities	$	526,359	$	—	$	526,359


SOUTHWEST GAS CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
(In thousands)
(Unaudited)

	As Reported		Adjustments		As Revised


Net income (loss), for the three months ended March 31, 2025	$	142,942	$	(347)	$	142,595
Retained earnings, March 31, 2025	1,238,775		(36,723)		1,202,052
Total Equity, March 31, 2025	3,416,872		(36,723)		3,380,149
Net income for the three months ended June 30, 2025	33,677		11,969		45,646
Retained earnings, June 30, 2025	1,227,760		(24,754)		1,203,006
Total Equity, June 30, 2025	3,408,373		(24,754)		3,383,619
Net income for the three months ended September 30, 2025	5,520		823		6,343
Retained earnings, September 30, 2025	1,233,196		(23,931)		1,209,265
Total Equity, September 30, 2025	$	3,416,463	$	(23,931)	$	3,392,532


	Period Ended September 30,
	Three Months				Nine Months
(In thousands, except per share amounts)	2026		2025		2026		2025
Contribution to net income
Natural Gas Distribution	$	13,254	$	6,343	$	191,782	$	194,931
Corporate and administrative (1)	(471)		(10,010)		1,497		(65,041)
Income (loss) from continuing operations	12,783		(3,667)		193,279		129,890
Income from discontinued operations, net of taxes	—		266,301		—		206,460
Net income attributable to Southwest Gas Holdings	$	12,783	$	262,634	$	193,279	$	336,350

Weighted average common shares	72,565		72,209		72,508		72,104

Basic earnings (loss) per share
Continuing operations	$	0.18	$	(0.05)	$	2.67	$	1.80
Discontinued operations	—		3.69		—		2.86
Net earnings (loss) per share - basic	$	0.18	$	3.64	$	2.67	$	4.66

Natural Gas Distribution Segment
Reconciliation of Utility gross margin to Operating margin (Non-GAAP measure)
Utility gross margin	$	115,106	$	118,141	$	571,108	$	546,006
Plus:
Operations and maintenance (excluding Admin. & General) expense	82,058		77,012		245,445		242,538
Depreciation and amortization expense	80,900		79,073		258,188		241,703
Operating margin	$	278,064	$	274,226	$	1,074,741	$	1,030,247

Southwest Gas Corporation (2)
Reconciliation of Utility gross margin to Operating margin (Non-GAAP measure)
Utility gross margin	$	115,106	$	118,141	$	571,108	$	548,106
Plus:
Operations and maintenance (excluding Admin. & General) expense	82,058		77,012		245,445		242,538
Depreciation and amortization expense	80,900		79,073		258,188		241,703
Operating margin	$	278,064	$	274,226	$	1,074,741	$	1,032,347



Exhibit 31.01#						Section 302 Certifications–Southwest Gas Holdings, Inc.

Exhibit 31.02#						Section 302 Certifications–Southwest Gas Corporation

Exhibit 32.01*						Section 906 Certifications–Southwest Gas Holdings, Inc.

Exhibit 32.02*						Section 906 Certifications–Southwest Gas Corporation

Exhibit 101#						The following materials from the Quarterly Report on Form 10-Q of Southwest Gas Holdings, Inc. and Southwest Gas Corporation for the quarter ended September 30, 2026, were formatted in Inline XBRL (Extensible Business Reporting Language): (i) Southwest Gas Holdings, Inc. and Subsidiaries Condensed Consolidated Balance Sheets, (ii) Southwest Gas Holdings, Inc. and Subsidiaries Condensed Consolidated Statements of Income, (iii) Southwest Gas Holdings, Inc. and Subsidiaries Condensed Consolidated Statements of Comprehensive Income, (iv) Southwest Gas Holdings, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows, (v) Southwest Gas Holdings, Inc. and Subsidiaries Condensed Consolidated Statements of Equity, (vi) Southwest Gas Corporation and Subsidiaries Condensed Consolidated Balance Sheets, (vii) Southwest Gas Corporation and Subsidiaries Condensed Consolidated Statements of Income, (viii) Southwest Gas Corporation and Subsidiaries Condensed Consolidated Statements of Comprehensive Income, (ix) Southwest Gas Corporation and Subsidiaries Condensed Consolidated Statements of Cash Flows, (x) Southwest Gas Corporation and Subsidiaries Condensed Consolidated Statements of Equity. The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

Exhibit 104#						Cover Page Interactive Data File (embedded within the Inline XBRL document).

# Filed herewith.
* Furnished herewith.



/s/ FABIO A. PINEDA
Fabio A. Pineda
Vice President/Controller and Chief Accounting Officer


			/s/ Justin L. Brown
			Justin L. Brown
			President and Chief Executive Officer
			Southwest Gas Holdings, Inc.


			/s/ Justin S. Forsberg
			Justin S. Forsberg
			Senior Vice President/Chief Financial Officer
			and Treasurer
			Southwest Gas Holdings, Inc.



			/s/ Justin L. Brown
			Justin L. Brown President and Chief Executive Officer Southwest Gas Holdings, Inc.