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SWX · Southwest Gas Holdings, Inc.

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$92.33 -0.80 (-0.86%) At close · Nov 4
S&P 400 member Russell 2000 member Rebalance outlook locked
Market Cap
$6.65B
Shares
72.45M
Volume · Nov 4 1.23M Avg daily vol (3M) 641.92K

Price & Indicators

Drag to pan · scroll to zoom
Indicators
Price
Panels
Event markers
20d MA 50d MA 200d MA Earnings Filing Insider Congress Investor day
Close$92.33 Open$92.61 Day$89.63–93.20 52W close$78.83–94.05 Avg vol 30d707K Short int2.9M · 4.1% of shares · 4.9d Short vol50% Last earningsNov 4, 2026 DataJan 2020–Nov 2026 Filing10-Q · Nov 4

Up next

Next earnings call
Feb 4, 2027 Est · unconfirmed · in 13 wks
Q2 2026 earnings call transcript
call held Aug 5, 2026
Play latest call

Latest documents

2026
Nov 4
Quarterly report 10-Q FY2026 Q3, ended Sep 30
Nevada and California decisions add annual revenue

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.

Net income $12.78M ▼ 95.1% Diluted EPS $0.18 ▼ 95.0%
Read from the MD&A section
4 source passages
Southwest Gas received the final decision on our Nevada general rate case on October 14, 2026, with rates effective in October 2026, providing approximately $47.8 million of incremental annual revenue to recover costs and investments made on behalf of customers. California rate case concluded in August 2026 providing $32.6 million of incremental annual revenue, reinforcing regulatory support for infrastructure investments and enhancing earnings visibility. $787.2 million capital investment year-to-date. Finished the third quarter of 2026 with nearly $657.4 million in available liquidity; the Company does not expect to issue equity in 2026. Open the document at this passage
Oct 20
Current report 8-K
Director or officer change, or executive pay

Randall P. Gabe of Southwest Gas Corporation will retire effective on or before June 1, 2027, after 30 years, moving into a business development role supporting the 2028 Great Basin Expansion project.

All documents

Metrics snapshot

Useful current figures from the complete screener profile.

Revenue (TTM)
$1.78B
Trailing 12 months
Net income (TTM)
$296.75M
Trailing 12 months
Revenue growth YoY
-21.6%
Year over year
Operating margin
24.4%
Trailing 12 months
P / E (TTM)
22.7
Trailing earnings · reciprocal yield 4.4%
FCF yield
-8.5%
TTM · current market cap
Return on invested capital
5.2%
Trailing 12 months
Net cash
−$3.48B
Latest balance sheet
Dividend yield
2.7%
Trailing 12 months
Shares change YoY
+0.6%
Year over year · more shares
Price change (1Y)
+15.0%
Trailing year
Short interest
4.1%
Latest settlement · 4.9 days to cover
View all 122 metrics

Quarterly results

Revenue Net income Net loss
▼8.6% $1.18B $18.33M '24 Q2 ▼7.7% $1.08B $289,000 '24 Q3 ▼200% −$1.37B $92.46M '24 Q4* ▼52.8% $746.42M $113.87M '25 Q1 ▼66.5% $396.32M −$40.15M '25 Q2 ▼70.6% $316.91M $262.63M '25 Q3 · $480.74M $103.48M '25 Q4* LATEST ▼21.6% $585.12M $138.37M '26 Q1

* Q4 derived as the full year minus Q1 to Q3.

AI Brief

Q2 FY26 earnings call · Aug 5, 2026
Q2 FY26

TL;DR. Southwest Gas Holdings reaffirmed its 2026 EPS guidance of $4.17–$4.32 and reaffirmed full-year and long-term outlook, while raising Great Basin's 2028 expansion project capital estimate to approximately $2.3 billion and annual margin to $270–$300 million with ~1 Bcf/day of binding precedent agreements. The company awaits the California cost-of-capital decision later this month, with Nevada progressing toward an October 2026 effective date and Arizona on track for April 2027.

Bullish
  • + Great Basin 2028 expansion contracted demand reached approximately 1 Bcf/day of binding precedent agreements with an estimated $2.3 billion of capital investment and $270–$300 million of incremental annual margin.
  • + Constructive California rate case decision delivered approximately $40 million of incremental annual revenue, including ~$9.7 million of incremental Q2 net income from previously deferred margin.
  • + Holdco earnings improved significantly from prior year following 2025 payoff of all parent-level debt, reducing interest expense by approximately $8.6 million versus the prior-year quarter.
  • + Strong balance sheet with $270.5 million of cash and nearly $1.0 billion of available liquidity and no outstanding holdco debt, supporting the capital program.
  • + Reaffirmed 2026 EPS guidance of $4.17–$4.32 along with reaffirmed long-term EPS CAGR of 12.0%–14.0% and rate-base CAGR of 9.5%–11.5% through 2030.
Bearish
  • − Nevada general rate case parties recommend just under $40 million versus the company's ~$74 million request (~52% of request), with parties converging on 9.3% ROE.
  • − Updated Great Basin 2028 scope adds approximately $600 million of capital beyond the $1.7 billion already in long-term guidance and is not yet incorporated into the outlook.
  • − Final California cost-of-capital decision remains pending and is expected later this month, leaving full outcome unresolved.

AI-generated from the earnings call and 8-K · may contain errors · not investment advice

Equibles Rating

blended score · not investment advice
Overall
Buy
SellHoldBuy
Technical Strong Buy Momentum Very Strong Sentiment Neutral Fundamentals Weak Quant / Vol Very Low
Market backdrop VIX 20.8 · elevated Equity put/call 0.60
Technical
price trend
Strong Buy
50 / 200-day cross No cross
Price vs 200-day avg +4%
above
Price vs 50-day avg +6%
above
RSI (14) 64
neutral
MACD trend Positive
52-week position 89%
near high
Volume (OBV) Confirms
volume backs price
Momentum
relative strength
Very Strong
1-month return +12%
trailing
6-month return +3%
trailing
YTD return +15%
this year
Relative strength +1%
vs S&P · 6-mo
Sentiment
smart money
Neutral
Trend (MA cross) No cross
50d $87 › 200d $88 — 200d above 50d
Institutional flow Accumulating
144 of 412 funds reported for Sep 30 · net +105.0K sh shares · +22 new
Insider flow Distributing
Net -$204.5K over 90 days · 100% sells
Short interest Rising
4.05% of shares out · ▲ +2.1% MoM · 4.9 days cover
Volume signal Reversal watch
High volume on a down day — possible exhaustion
Institution breadth Multi-yr high
412 holders — near 3-yr high, broad support
Squeeze score 73
high risk · 0–100
Fundamentals
Weak
Revenue growth +10%
Y/Y
EPS growth +120%
Y/Y
Free cash flow $-251.8M
Valuation P/E 22.4
rich
Balance sheet $2.9B
net debt
Quant / Vol
risk profile
Very Low
Volatility 18%
annualized · 1-yr
Max drawdown −13%
past year
ATR 2.0%
of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

Beat or met 1 of last 2
Latest guidance · from the Earnings Call filed Aug 5, 2026
2026
Capital expenditures Maintained $1.25B
Feb 25, 2026 $1.25B changed to Aug 5, 2026 $1.25B
through 2030
Rate base CAGR 9.5% – 11.5%
remainder of 2026
Anticipated bond issuance $400M
2028 expansion project
Capital investment for the 2028 expansion $2.3B
Incremental annual margin for the 2028 expansion $270M – $300M
Previous outlook earlier release · from the 8-K filed Feb 25, 2026

Still-open targets the latest release did not restate under the same label.

2026- 2030 Capital expenditures · 2026- 2030 $6.3B
2026 - 2030 Rate base CAGR · 2026 - 2030 9.5% – 11.5%
Prior guidance period ended · from the Earnings Call filed Feb 25, 2026
Rate base (2025 base) · 2025 $6.7B
Guided vs delivered · last 2 settled
Diluted earnings per share 2021 excluding transaction and related costs
guided $4.00 – $4.10
$3.39 Miss −16.3%
Earnings per share 2020
guided $3.75 – $4.00
$4.14 Beat +6.8%

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Strong Buy
0 · 3 · 4
50 / 200-day cross
No cross Neutral
Price vs 200-day avg
+4% Bullish
Price vs 50-day avg
+6% Bullish
RSI (14)
64 Neutral
MACD trend
Positive Bullish
52-week position
89% Bullish
Volume (OBV)
Confirms Neutral
Market signals — smart money & positioning
Mixed
Trend (MA cross) No cross
50d $87 › 200d $88 — 200d above 50d
Institutional flow Accumulating
144 of 412 funds reported for Sep 30 · net +105.0K sh shares · +22 new
Insider flow Distributing
Net -$204.5K over 90 days · 100% sells
Short interest Rising
4.05% of shares out · ▲ +2.1% MoM · 4.9 days cover
Volume signal Reversal watch
High volume on a down day — possible exhaustion
Institution breadth Multi-yr high
412 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $79 Now $92 · 89% Range high $94
vs 200-day avg +4% vs 50-day avg +6%

Illustrative technical + ownership context — a signal mix, not investment advice.

Key metrics

the company's own KPIs, from written earnings releases and filings
Metric Latest Period YoY
Adjusted consolidated earnings per diluted share non-GAAP $2.49 Six Months Ended June 30, 2026 —
Adjusted consolidated earnings per diluted share from continuing operations non-GAAP $0.45 three months ended June 30, 2026 —
Adjusted net income - continuing operations non-GAAP $180.5M six months ended June 30, 2026 —
adjusted Utility return on period-end equity non-GAAP 8% twelve months ended June 30, 2026 —
Capital invested into Southwest Gas for capital projects $211.5M the second quarter of 2026 filing —
Cash and cash equivalents 270.5M the second quarter of 2026 filing —
Customer to employee ratio at quarter end (gas segment) 942 At quarter end —
Great Basin 2028 Expansion Project investment 115M six months ended June 30, 2026 —
Infrastructure modernization and expansion investment 520M six months ended June 30, 2026 —
Total system throughput 106,053,583 Six Months Ended June 30, 2026 —
Twelve months to date adjusted return on equity -- gas segment non-GAAP 8% Twelve Months Ended June 30, 2026 —
Twelve months to date return on equity -- gas segment 8.1% Twelve Months Ended June 30, 2026 —
Utility return on period-end equity 8.1% twelve months ended June 30, 2026 —

Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period

Versus peers

Utilities - Regulated Gas — same industry group
Open screener →
Company Mkt cap YTD Rev growth Y/Y P/E Short % shares
SWX
Southwest Gas Holdings, Inc.
this stock
$6.65B +15.4% +9.6% 22.4 4.1%
ATO
Atmos Energy Corp
 $29.82B +5.3% +12.9% 21.1 2.7%
NI
Nisource Inc.
 $21.40B +8.5% +8.5% 22.9 3.3%
UGI
Ugi Corp
 $8.17B +1.8% +1.1% — 5.9%
BKH
Black Hills Corp
 $6.27B +21.3% +8.6% 20.8 15.8%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section
Ownership
Institutional Holders Accumulating
Holders
420
% held
93.3%
Reported
144 of 412
Top holder
BlackRock, Inc.
Held Float
View
Held by Funds
Fund positions
457
View
Short & Settlement
Short Interest Rising
Shares short
2.9M
Days to cover
4.9d
Change
+59.5K sh
View
Short Volume
Short vol %
50%
As of
Nov 4, 2026
Short Total
View
Fails to Deliver
FTD shares
46
Value
$3.8K
As of
Sep 30, 2026
View
Off-Exchange
Off-exchange %
47.1%
Week of
Sep 28, 2026
Off-exch Lit
View
Smart Money
Insider Trades Net selling
Net (90d)
-$204.5K
Buyers / Sellers
0 / 1
Buyers Sellers
View
Congressional Trades Buy
Member
Michael Patrick Guest
Amount
$1.0K–$15.0K
Traded
Aug 7, 2023
View
Financials
Financials
Revenue (FY)
$5.4B
Net income (FY)
$439.8M
EPS diluted
$6.08
View
Filings
SEC Filings
Latest
8-K
Filed
Nov 4, 2026
This year
18
View
Proposed Sales
Value
$204.5K
Shares
2.5K
Filed
Sep 28, 2026
View
Earnings & Events
Webcasts Upcoming
Next webcast
Dec 8, 2026
Last webcast
Nov 4, 2026
View
Investor Relations
Latest news
Southwest Gas Holdings, Inc. Repo…
Published
Nov 4, 2026
Upcoming events
2
View

Performance

5D 20D 120D MTD YTD
SWX -0.2% +11.9% +3.1% -0.8% +15.4%
SPY -0.7% -1.3% +2.5% +1.5% +12.5%
vs SPY +0.5% +13.3% +0.6% -2.3% +2.9%

Capital returns

Latest dividend
$0.645 / share · ex Aug 17, 2026
Declared · upcoming
$0.645 / share · ex Nov 16, 2026
Raised 4%
Paid (TTM)
$2.53 / share · 4 payouts
Dividend yield (TTM, derived)
2.74%
Full dividend history

Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.

Key facts CIK 1692115 CUSIP 844895102 13F (30d) 137 filings 130 filers Visit website Investor relations