Southwest Gas Holdings Files Q3 2024 10-Q

TL;DR

SWX 10-Q filed for Q3 2024. Financials and operations detailed.

AI Summary

Southwest Gas Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the natural gas transmission and distribution company. Key financial data and business segments are presented, reflecting the company's ongoing operations in the energy sector.

Why It Matters

This filing provides investors and analysts with crucial financial and operational data for Southwest Gas Holdings, Inc., impacting investment decisions and market understanding of the natural gas utility sector.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks disclosed.

Key Players & Entities

• Southwest Gas Holdings, Inc. (company) — Filer
• Southwest Gas Corporation (company) — Subsidiary/Operating Entity
• 2024-09-30 (date) — Reporting Period End Date
• 2024-11-06 (date) — Filing Date

FAQ

Key Financial Figures

• $1 — thwest Gas Holdings, Inc. Common Stock, $1 Par Value SWX New York Stock Exchange

Filing Documents

• swx-20240930.htm (10-Q) — 1849KB
• swxexhibit310193024.htm (EX-31.01) — 19KB
• swxexhibit310293024.htm (EX-31.02) — 19KB
• swxexhibit320193024.htm (EX-32.01) — 9KB
• swxexhibit320293024.htm (EX-32.02) — 9KB
• 0001692115-24-000114.txt ( ) — 10132KB
• swx-20240930.xsd (EX-101.SCH) — 62KB
• swx-20240930_cal.xml (EX-101.CAL) — 111KB
• swx-20240930_def.xml (EX-101.DEF) — 403KB
• swx-20240930_lab.xml (EX-101.LAB) — 747KB
• swx-20240930_pre.xml (EX-101.PRE) — 600KB
• swx-20240930_htm.xml (XML) — 1661KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS SOUTHWEST GAS HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Thousands of dollars, except par value) (Unaudited) September 30, 2024 December 31, 2023 ASSETS Regulated operations plant: Gas plant $ 10,652,224 $ 10,140,362 Less: accumulated depreciation ( 2,937,435 ) ( 2,822,669 ) Construction work in progress 243,375 200,549 Net regulated operations plant 7,958,164 7,518,242 Other property and investments, net 1,193,062 1,266,340 Current assets: Cash and cash equivalents 456,643 106,536 Accounts receivable, net of allowances 673,219 886,549 Accrued utility revenue 47,800 93,000 Income taxes receivable, net 7,401 1,935 Deferred purchased gas costs 9,270 552,885 Prepaid and other current assets 261,063 218,832 Current assets held for sale — 21,377 Total current assets 1,455,396 1,881,114 Noncurrent assets: Goodwill 787,595 789,729 Deferred income taxes 2,833 463 Deferred charges and other assets 477,900 414,008 Total noncurrent assets 1,268,328 1,204,200 Total assets $ 11,874,950 $ 11,869,896 CAPITALIZATION AND LIABILITIES Capitalization: Common stock, $ 1 par (authorized - 120,000,000 shares; issued and outstanding - 71,740,332 and 71,563,750 shares) $ 73,370 $ 73,194 Additional paid-in capital 2,714,958 2,541,790 Accumulated other comprehensive loss, net ( 43,875 ) ( 43,787 ) Retained earnings 710,940 738,839 Total equity attributable to Southwest Gas Holdings, Inc. stockholders 3,455,393 3,310,036 Noncontrolling interest 176,857 — Total equity 3,632,250 3,310,036 Redeemable noncontrolling interest 7,706 104,667 Long-term debt, less current maturities 4,382,146 4,609,838 Total capitalization 8,022,102 8,024,541 Current liabilities: Current maturities of long-term debt 30,264 42,552 Short-term debt 663,000 628,500 Accounts payable 226,960 346,907 Customer deposits 60,750 48,460 Income taxes payable, net 2,019 817 Accrued general taxes 64,005 58,053 Accrued interest