Southwest Gas Shares Close at $93.13 Ahead of Third-Quarter Results
Key Facts
Southwest Gas Holdings shares closed at $93.13 on November 3, 2026, according to EL7 data, ahead of the November 4 news about the release of results for the third quarter ended September 30. The move leaves the stock at its last documented close before the results news. In its second-quarter results, the company had announced a target range for earnings per share from continuing operations in 2026, along with an estimate for capital expenditures. Investors are therefore focused on the latest disclosure to see whether the results and annual guidance are consistent with those estimates. In this context, second-quarter figures serve as a prior-period reference and do not make up for the absence of confirmed third-quarter figures.
In its second-quarter results, the company set a 2026 earnings-per-share range from continuing operations of $4.17 to $4.32 and estimated capital expenditures at about $1.25 billion. The range applies to fiscal 2026, while the capital expenditure estimate represents an investment plan for the same year. These figures provide context for what the company announced before the third quarter about its earnings and spending trajectory, but they do not by themselves establish that the outlook was reaffirmed in the third-quarter results statement. The available evidence also did not include a documented third-quarter net income figure or year-over-year comparison. Those details therefore remain dependent on the latest disclosure once verified.
In long-term guidance announced in August, the company targeted compound annual growth in adjusted earnings per share from continuing operations of between 12% and 14% during 2026–2030. It also set a range for compound annual growth in its asset base of between 9.5% and 11.5% over the same period. These targets reflect a multi-year framework for earnings and the asset base, alongside financial guidance for the current year. They differ in timeframe from third-quarter results, covering five years rather than three months. They therefore provide context for the company’s announced growth strategy and are not a realized result for the quarter ended in September.
Chief Executive Justin Brown said in the second-quarter results statement that the company had made progress on rate cases in all three states and secured binding commitments for its 2028 Great Basin expansion project. He said: "We are encouraged by the progress our team made this quarter, advancing rate cases in all three states and securing binding commitments for our 2028 Great Basin expansion project." The statement links regulatory actions in the states with the planned 2028 expansion project. This account remains attributed to the second-quarter update, rather than to a documented third-quarter development. It places rate cases and expansion commitments within the operating context that preceded the September results.
In its second-quarter results, the company said pre-commitment agreements for the Great Basin 2028 project totaled about 1 billion cubic feet per day as of August 5, 2026. It also said it had invested $520 million in infrastructure modernization and expansion during the first half of the year. The two figures provide different measures of the project and activity: the volume covered by pre-commitment agreements and infrastructure spending over six months. They are part of the operating and investment information the company announced before the third quarter. This spending falls within the company’s capital expenditure plan, which it estimated at about $1.25 billion for 2026 in its second-quarter guidance.
In California, the company said a regulatory decision provided about $40 million in additional annual revenue, and that it recorded about $9.7 million in additional net income in the second quarter related to deferred revenue. These figures combine an annual revenue impact with an income amount recorded in a specific quarter; they do not refer to third-quarter revenue or income. The decision adds financial context to management’s comments on progress in rate cases in all three states, while the cited California impact remains tied to an earlier announcement. A more recent disclosure is needed to determine the status of regulatory cases after the second quarter. The stock’s close at $93.13 on November 3 remains the latest documented market move here ahead of the November 4 news.