Southwest Gas Holdings Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Southwest Gas Holdings Inc reported revenue of $1.9B (-62.0% year on year) and net income of $439.8M (+121.2% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Regulated operations revenues | $1.9B | $2.5B | $2.5B | $2.2B |
| Total operating revenues | $1.9B | $5.1B | $5.4B | $5.0B |
| Net cost of gas sold | $497.6M | $1.2B | $1.3B | $799.1M |
| Operations and maintenance | $544.1M | $536.2M | $544.1M | $636.8M |
| Depreciation and amortization | $330.7M | $438.4M | $440.9M | $470.5M |
| Taxes other than income taxes | $94.1M | $89.0M | $88.8M | $93.4M |
| Goodwill impairment and loss on sale | $0 | $0 | $71.2M | — |
| Total operating expenses | $1.5B | $4.6B | $5.0B | $5.0B |
| Operating income | $473.9M | $483.8M | $418.3M | ($24.4M) |
| Net interest deductions | ($203.1M) | ($297.0M) | ($292.3M) | ($242.8M) |
| Other income (deductions) | $60.1M | $54.6M | $71.3M | ($6.2M) |
| Total other income and (expenses) | ($143.0M) | ($242.5M) | ($221.0M) | ($248.9M) |
| Income from continuing operations before income taxes | $330.9M | $241.3M | $197.3M | ($273.3M) |
| Income tax expense | $96.0M | $36.5M | $41.8M | ($75.7M) |
| Income from continuing operations | $234.8M | — | — | — |
| Income (loss) from discontinued operations, net of income tax | $200.3M | — | — | — |
| Net income | $435.2M | $204.8M | $155.5M | ($197.7M) |
| Net income (loss) attributable to noncontrolling interests | ($4.6M) | $6.0M | $4.6M | $5.6M |
| Net income | $439.8M | $198.8M | $150.9M | ($203.3M) |
| Discontinued operations (in USD per share) | $2.84 | — | — | — |
| Net earnings per share - basic (in USD per share) | $6.09 | $2.77 | $2.13 | -$3.10 |
| Continuing operations (in USD per share) | $3.25 | — | — | — |
| Discontinued operations (in USD per share) | $2.83 | — | — | — |
| Net earnings per share - diluted (in USD per share) | $6.08 | $2.76 | $2.13 | -$3.10 |
| Basic (in shares) | 72.2M | 71.8M | 70.8M | 65.6M |
| Diluted (in shares) | 72.3M | 72.0M | 71.0M | 65.6M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Regulated operations revenues | $358.2M | $585.1M | $316.9M | $396.3M |
| Net cost of gas sold | $38.4M | $108.2M | $42.7M | $102.1M |
| Operations and maintenance | $133.8M | $133.0M | $134.8M | $138.7M |
| Depreciation and amortization | $77.8M | $99.6M | $79.1M | $103.2M |
| Taxes other than income taxes | $23.7M | $25.0M | $23.4M | $23.3M |
| Total operating expenses | $273.8M | $365.8M | $279.9M | $1.0B |
| Operating income | $84.3M | $219.3M | $37.0M | $95.5M |
| Net interest deductions | ($44.1M) | ($45.7M) | ($49.0M) | ($71.6M) |
| Other income (deductions) | $11.3M | $11.0M | $15.4M | $18.4M |
| Total other (expenses) | ($32.8M) | ($34.8M) | ($33.6M) | ($53.2M) |
| Income from continuing operations before income taxes | $51.6M | $184.6M | $3.4M | $42.3M |
| Income tax expense | $9.4M | $46.2M | ($803.0K) | $52.6M |
| Income (loss) from continuing operations | $42.1M | $138.4M | $4.2M | — |
| Loss from discontinued operations, net of income tax | $0 | $0 | $263.8M | — |
| Net income (loss) attributable to noncontrolling interests | $0 | $0 | ($2.5M) | $2.6M |
| Net income (loss) | $42.1M | $138.4M | $268.0M | ($10.3M) |
| Net earnings (loss) per share - basic (in USD per share) | $0.58 | $1.91 | $3.75 | -$0.18 |
| Continuing operations (in USD per share) | $0.58 | $1.91 | $0.06 | — |
| Discontinued operations (in USD per share) | $0.00 | $0.00 | $3.69 | — |
| Net earnings (loss) per share - diluted (in USD per share) | $0.58 | $1.91 | $3.74 | -$0.18 |
| Basic (in shares) | 72.5M | 72.4M | 72.2M | 72.1M |
| Diluted (in shares) | 72.7M | 72.6M | 72.4M | 72.1M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Gas plant | $11.5B | $10.8B | $10.1B | $9.5B |
| Less: accumulated depreciation | ($3.1B) | ($2.9B) | ($2.8B) | ($2.7B) |
| Construction work in progress | $236.9M | $178.6M | $200.5M | $244.8M |
| Net regulated operations plant | $8.7B | $8.1B | $7.5B | $7.0B |
| Other property and investments, net | $178.8M | $1.2B | $1.3B | $1.3B |
| Cash and cash equivalents | $576.6M | $363.8M | $106.5M | $123.1M |
| Accounts receivable, net of allowances | $170.6M | $722.6M | $886.5M | $866.2M |
| Accrued utility revenue | $101.6M | $96.6M | $93.0M | $88.1M |
| Income taxes receivable, net | $9.6M | $2.4M | $1.9M | $8.7M |
| Deferred purchased gas costs | $5.2M | $13.9M | $552.9M | $450.1M |
| Materials, supplies & gas inventories | $93.8M | — | — | — |
| Prepaid and other current assets | $234.6M | $265.1M | $218.8M | $433.9M |
| Current assets classified as discontinued operations | $0 | — | — | $1.7B |
| Total current assets | $1.2B | $1.5B | $1.9B | $3.7B |
| Goodwill | $11.2M | $781.2M | $789.7M | $787.3M |
| Deferred charges and other assets | $356.9M | $474.8M | $414.0M | $395.9M |
| Noncurrent assets classified as discontinued operations | $0 | — | — | — |
| Total noncurrent assets | $368.0M | $1.3B | $1.2B | $1.2B |
| Total assets | $10.4B | $12.0B | $11.9B | $13.2B |
| Common stock, $1 par (authorized – 120,000,000 shares; issued and outstanding – 72,224,593 and 71,782,756 shares) | 73.9M | 73.4M | 73.2M | 68.7M |
| Additional paid-in capital | $2.9B | $2.7B | $2.5B | $2.3B |
| Accumulated other comprehensive loss, net | ($34.5M) | ($49.2M) | ($43.8M) | ($44.2M) |
| Retained earnings | $1.0B | $758.6M | $738.8M | $747.1M |
| Total equity attributable to Southwest Gas Holdings, Inc. stockholders | $4.0B | $3.5B | $3.3B | $3.1B |
| Noncontrolling interest | $0 | $177.2M | — | — |
| Total equity | $4.0B | $3.7B | — | — |
| Redeemable noncontrolling interest | $0 | $7.7M | $104.7M | $159.3M |
| Long-term debt, less current maturities | $3.4B | $4.3B | $4.6B | $4.4B |
| Total capitalization | $7.4B | $8.0B | $8.0B | $7.6B |
| Current maturities of long-term debt | $75.0M | $30.0M | $42.6M | $44.6M |
| Short-term debt | $0 | $680.0M | $628.5M | $1.5B |
| Accounts payable | $225.7M | $331.8M | $346.9M | $662.1M |
| Customer deposits | $67.2M | $63.9M | $48.5M | $51.2M |
| Accrued general taxes | $54.4M | $59.4M | $58.1M | $67.1M |
| Accrued interest | $35.3M | $40.4M | $36.6M | $38.6M |
| Deferred purchased gas costs | $310.1M | $242.3M | — | $0 |
| Dividends declared | $44.8M | — | — | — |
| Other current liabilities | $117.3M | $382.9M | $523.0M | $369.7M |
| Current liabilities of discontinued operations | $0 | — | $0 | $644.2M |
| Total current liabilities | $929.9M | $1.8B | $1.7B | $3.4B |
| Deferred income taxes and investment tax credits, net | $977.3M | $808.8M | $753.0M | $682.1M |
| Accumulated removal costs | $496.0M | $472.0M | $458.0M | $445.0M |
| Other deferred credits and other long-term liabilities | $632.1M | $873.5M | $949.5M | $1.0B |
| Noncurrent liabilities classified as discontinued operations | $0 | — | — | — |
| Total deferred income taxes and other credits | $2.1B | $2.2B | $2.2B | $2.2B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Gas plant | $11.9B | $11.7B | $11.3B | $11.1B |
| Less: accumulated depreciation | ($3.2B) | ($3.1B) | ($3.0B) | ($3.0B) |
| Construction work in progress | $360.2M | $259.9M | $231.1M | $201.2M |
| Net regulated operations plant | $9.1B | $8.8B | $8.5B | $8.3B |
| Other property and investments, net | $181.4M | $177.6M | $172.5M | $1.2B |
| Cash and cash equivalents | $270.5M | $484.8M | $778.6M | $355.6M |
| Accounts receivable, net of allowances | $118.6M | $168.8M | $110.6M | $705.3M |
| Accrued utility revenue | $51.8M | $65.9M | $51.7M | $50.5M |
| Income taxes receivable, net | $12.6M | $6.3M | — | $6.2M |
| Deferred purchased gas costs | $0 | $0 | $99.0K | $0 |
| Materials, supplies, and gas inventories | $95.6M | $93.7M | $91.2M | $90.8M |
| Prepaid and other current assets | $318.7M | $238.3M | $211.3M | $216.7M |
| Total current assets | $867.8M | $1.1B | $1.2B | $1.4B |
| Goodwill | $11.2M | $11.2M | $11.2M | $786.5M |
| Deferred charges and other assets | $350.9M | $353.6M | $405.8M | $483.8M |
| Total noncurrent assets | $362.1M | $364.8M | $417.0M | $1.3B |
| Total assets | $10.5B | $10.4B | $10.3B | $12.2B |
| Common stock, $1 par (authorized - 120,000,000 shares; issued and outstanding - 72,443,899 and 72,224,593 shares) | 74.1M | 74.0M | 73.8M | 73.6M |
| Additional paid-in capital | $2.9B | $2.9B | $2.9B | $2.9B |
| Accumulated other comprehensive loss, net | ($9.9M) | ($34.1M) | ($37.6M) | ($41.4M) |
| Retained earnings | $1.2B | $1.2B | $999.4M | $769.7M |
| Total equity | $4.1B | $4.1B | $3.9B | $3.7B |
| Long-term debt, less current maturities | $3.4B | $3.4B | $3.5B | $4.4B |
| Total capitalization | $7.5B | $7.5B | $7.4B | $8.5B |
| Current maturities of long-term debt | $100.0M | $75.0M | — | $28.1M |
| Accounts payable | $115.7M | $122.0M | $118.9M | $254.6M |
| Customer deposits | $66.7M | $67.6M | $67.0M | $67.1M |
| Accrued general taxes | $52.1M | $78.9M | $58.6M | $50.7M |
| Accrued interest | $35.0M | $38.3M | $38.5M | $40.2M |
| Deferred purchased gas costs | $286.8M | $248.1M | $356.5M | $349.0M |
| Dividends declared | $0 | $0 | $44.8M | — |
| Other current liabilities | $121.0M | $100.0M | $112.5M | $360.9M |
| Total current liabilities | $777.3M | $730.0M | $804.7M | $1.4B |
| Deferred income taxes and investment tax credits, net | $1.0B | $1.0B | $905.6M | $927.5M |
| Accumulated removal costs | $513.0M | $504.0M | $490.0M | $486.0M |
| Other deferred credits and other long-term liabilities | $610.2M | $614.5M | $692.5M | $865.6M |
| Total deferred income taxes and other credits | $2.2B | $2.1B | $2.1B | $2.3B |
| Total capitalization and liabilities | $10.5B | $10.4B | $10.3B | $12.2B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $435.2M | $204.8M | $155.5M | ($197.7M) |
| Less: Income (loss) from discontinued operations, net of income tax | $200.3M | — | — | — |
| Income from continuing operations, net of income tax | $234.8M | — | — | — |
| Depreciation and amortization | $330.7M | $438.4M | $440.9M | $470.5M |
| Impairment of assets and other charges | $0 | $0 | $71.2M | $455.4M |
| Deferred income taxes | $118.1M | $52.9M | $56.8M | ($72.0M) |
| Gains on sale of property and equipment | ($1.6M) | ($3.6M) | ($4.7M) | ($7.9M) |
| Share-based compensation expense | $14.6M | $14.9M | $8.1M | $9.4M |
| Equity AFUDC | ($5.8M) | ($6.6M) | ($2.0M) | ($465.0K) |
| Accounts receivable, net of allowances | $32.4M | $126.5M | ($22.6M) | ($193.8M) |
| Accrued utility revenue | ($5.0M) | ($3.6M) | ($4.9M) | ($3.2M) |
| Deferred purchased gas costs | $63.3M | $781.2M | ($117.8M) | ($147.2M) |
| Accounts payable | $13.2M | ($10.6M) | ($286.2M) | $293.9M |
| Accrued taxes | ($20.5M) | $1.5M | ($2.3M) | $17.9M |
| Other current assets and liabilities | ($97.7M) | ($192.9M) | $304.1M | ($207.9M) |
| Changes in deferred charges and other assets | ($62.0M) | ($21.1M) | ($10.4M) | $16.9M |
| Changes in other liabilities and deferred credits | ($20.4M) | ($26.2M) | ($76.6M) | ($26.5M) |
| Net cash provided by operating activities of continuing operations | $594.2M | — | — | — |
| Net cash provided by (used in) operating activities of discontinued operations | ($38.1M) | — | — | — |
| Net cash provided by operating activities | $556.1M | $1.4B | $509.2M | $407.5M |
| Capital expenditures and property additions | ($807.9M) | ($945.9M) | ($872.5M) | ($859.4M) |
| Proceeds from the sale of business, net of cash sold | $0 | $0 | $1.0B | — |
| Proceeds from the sale of property | $5.3M | $21.4M | — | — |
| Changes in customer advances | $2.0M | ($6.0M) | ($8.9M) | $21.5M |
| Other | ($955.0K) | $9.0M | $9.9M | $17.8M |
| Net cash provided by (used in) investing activities of continuing operations | ($801.5M) | — | — | — |
| Net cash provided by (used in) investing activities of discontinued operations | $776.7M | — | — | — |
| Net cash provided by (used in) investing activities | ($24.8M) | ($921.6M) | $151.0M | ($838.9M) |
| Issuance of common stock, net | $19.7M | $8.9M | $251.8M | $461.8M |
| Dividends paid | ($178.5M) | ($177.8M) | ($174.6M) | ($160.6M) |
| Issuance of long-term debt, net | $0 | $353.8M | $1.0B | $1.1B |
| Change in short-term portion of credit facility | ($130.0M) | $51.5M | — | — |
| Change in long-term credit facility and commercial paper | $0 | $0 | ($50.0M) | ($80.0M) |
| Issuance of short-term debt | $0 | $0 | $450.0M | $0 |
| Repayment of short-term debt | ($550.0M) | $0 | — | — |
| Withholding remittance – share-based compensation | ($3.1M) | ($3.1M) | ($2.0M) | ($2.7M) |
| Other, including principal payments on finance leases | ($4.7M) | ($14.9M) | ($15.9M) | ($24.2M) |
| Net cash used in financing activities of continuing operations | ($846.5M) | — | — | — |
| Net cash provided by (used in) financing activities of discontinued operations | $528.2M | — | — | — |
| Net cash used in financing activities | ($318.3M) | ($176.3M) | ($700.8M) | $356.5M |
| Effects of currency translation in discontinued operations | ($127.0K) | — | — | — |
| Change in cash and cash equivalents, including discontinued operations | $212.9M | $257.3M | $19.3M | ($75.8M) |
| Change in cash and cash equivalents included in current assets held for sale | $0 | $0 | $23.8M | — |
| Cash and cash equivalents, including discontinued operations, at beginning of period | $363.8M | — | — | — |
| Cash and cash equivalents, including discontinued operations, at end of period | $576.6M | — | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income (loss) | $180.5M | $138.4M | $366.8M | $98.9M |
| Less: Loss from discontinued operations, net of income tax | $0 | $0 | $201.8M | — |
| Income from continuing operations, net of income tax | $180.5M | $138.4M | $165.0M | — |
| Depreciation and amortization | $177.4M | $99.6M | $241.7M | $231.1M |
| Deferred income taxes | $62.2M | $45.1M | $48.1M | $94.0M |
| Gains on sale of property and equipment | $0 | — | ($1.6M) | ($2.2M) |
| Share-based compensation expense | $6.9M | $4.5M | $10.0M | $11.0M |
| Equity AFUDC | ($4.5M) | ($2.0M) | ($4.4M) | ($2.9M) |
| Accounts receivable, net of allowances | $52.0M | $1.8M | $92.4M | $17.1M |
| Accrued utility revenue | $49.8M | $35.7M | $44.9M | $46.1M |
| Deferred purchased gas costs | ($18.1M) | ($56.8M) | $114.8M | $120.7M |
| Accounts payable | ($84.1M) | ($73.1M) | ($65.8M) | ($67.2M) |
| Accrued taxes | ($2.3M) | $27.8M | ($364.0K) | ($25.8M) |
| Other current assets and liabilities | ($87.0M) | ($16.1M) | ($73.0M) | ($71.0M) |
| Changes in deferred charges and other assets | ($1.4M) | ($22.8M) | ($42.4M) | ($13.1M) |
| Changes in other liabilities and deferred credits | ($23.4M) | ($19.9M) | ($20.2M) | ($19.0M) |
| Net cash provided by operating activities of continuing operations | $308.2M | $162.1M | $509.1M | — |
| Net cash used in operating activities of discontinued operations | $0 | $0 | ($34.6M) | — |
| Net cash provided by operating activities | $308.2M | $162.1M | $474.5M | $417.6M |
| Capital expenditures and property additions | ($529.1M) | ($208.7M) | ($570.4M) | ($407.6M) |
| Proceeds from the sale of property | $0 | — | $5.3M | $5.3M |
| Changes in customer advances | $7.9M | $6.3M | $3.2M | $4.0M |
| Other | ($333.0K) | ($1.2M) | $307.0K | $2.3M |
| Net cash used in investing activities of continuing operations | ($521.6M) | ($203.6M) | ($561.5M) | — |
| Net cash used in investing activities of discontinued operations | $0 | $0 | $776.7M | — |
| Net cash used in investing activities | ($521.6M) | ($203.6M) | $215.2M | ($396.0M) |
| Issuance of common stock, net | $4.2M | $2.1M | $17.7M | $4.5M |
| Dividends paid | ($91.5M) | ($44.8M) | ($133.9M) | ($89.1M) |
| Change in short-term portion of credit facility | $0 | $0 | ($130.0M) | ($95.0M) |
| Repayment of short-term debt | $0 | — | ($550.0M) | ($325.0M) |
| Withholding remittance - share-based compensation | ($5.3M) | ($4.9M) | ($2.6M) | ($3.5M) |
| Other, including principal payments on finance leases | ($175.0K) | ($2.9M) | ($4.3M) | ($9.3M) |
| Net cash used in financing activities of continuing operations | ($92.8M) | ($50.4M) | ($803.1M) | — |
| Net cash provided by financing activities of discontinued operations | $0 | $0 | $528.3M | — |
| Net cash used in financing activities | ($92.8M) | ($50.4M) | ($274.7M) | ($30.0M) |
| Effects of currency translation in discontinued operations | $0 | $0 | ($127.0K) | — |
| Change in cash and cash equivalents, including discontinued operations | ($306.1M) | ($91.9M) | $414.8M | ($8.2M) |
| Cash and cash equivalents, including discontinued operations, at beginning of period | $576.6M | $576.6M | $363.8M | — |
| Cash and cash equivalents, including discontinued operations, at end of period | $270.5M | $484.8M | $778.6M | — |
| Interest paid, net of amounts capitalized | $87.5M | $41.4M | $192.1M | $137.9M |
| Income taxes paid, net | $507.0K | ($179.0K) | $29.2M | $13.1M |
| Decrease of capital expenditures in Accounts payable or Other current liabilities | ($26.0M) | ($29.8M) | ($10.0M) | — |
| Equity AFUDC capitalized in regulated operations plant | $4.5M | $2.0M | — | — |
Southwest Gas Holdings Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.