Description

Southwest Gas’ $300 Million Margin Opportunity — Can Great Basin Deliver?

Southwest Gas Holdings reported adjusted earnings per share from continuing operations of $0.45 for the second quarter of 2026, marking an increase from $0.37 in the same period in 2025. This improvement primarily reflects effective execution of the company’s regulatory strategy aimed at timely recovery of prudent investments and lower interest expenses subsequent to the payoff of all outstanding holding company debt last summer. Reported earnings per share were $0.58, propelled by revenue recognition from a recently approved California rate case. The company continues to manage cost discipline, achieving a nearly 3% reduction in operations and maintenance expenses, partly offset by increased depreciation and amortization associated with rising gas plant in service reflecting ongoing infrastructure investments. Southwest Gas Holdings remains engaged in active regulatory proceedings across its jurisdictions—California, Nevada, and Arizona—with rate cases progressing towards outcomes expected to yield constructive rate relief.