Southwest Gas

Southwest Gas reported a swing to $42.1 million net income in Q2 and reaffirmed 2026 guidance, driven in part by tax-related corporate items. Binding agreements for the Great Basin 2028 Expansion reached about 1 billion cubic feet per day and management raised projected capital to $2.3 billion (from $1.7 billion), forecasting $270–300 million annual margin when in service. Regulators in California, Nevada and Arizona have advanced rate and prudency measures, but California’s cost-of-capital decision is still pending and the FERC certificate for Great Basin has not been filed. Core gas distribution adjusted earnings fell year-over-year and higher depreciation and taxes weigh on near-term results. » More on finance.yahoo.com

Southwest Gas reported adjusted earnings per share of $0.45 for Q2 2026, beating the consensus estimate of $0.43, while revenue of $358.15 million missed the $417.27 million forecast. Results were supported by rate adjustments, customer growth and lower operating and maintenance costs; adjusted operating margin and cash position remained stable. The company reaffirmed its 2026 guidance and extended long-term targets, but announced an expansion of the Great Basin project, raising its capital requirement to about $2.3 billion. Management described the outlook as unchanged and confident but warned of regulatory proceedings and financing and execution risks for the expansion. » More on de.investing.com

Southwest Gas shares climbed to a 52-week high of $94.47 and posted a total return of 24.4% year-to-date (YTD just under 18%). Despite the price increase, the company reported Q1 2026 EPS of $1.91 and revenues of $585.1 million, both below expectations. InvestingPro notes a 56-year dividend history and a dividend yield of 2.78% but sees the stock as possibly overvalued. Mizuho raised its price target to $98 and kept an "Outperform" rating; regulatory decisions in Arizona and Nevada and news on contracts for the Great Basin Expansion remain pending. Southwest Gas announced a quarterly dividend of $0.645 and elected all nominated directors, including Molly R. Carson and Leezie Kim, to the board. » More on de.investing.com