Southwest Gas Corporation (SWX) reported a 1% net customer growth and installed 37,000 new meter sets over the 12 months ending December 31, 2025. The company anticipates an annual customer growth rate of 1.4% through 2030, attributable to rising natural gas demand and regional economic growth.
In Q1 2026, Southwest Gas invested $186.3 million, with plans to invest $1.25 billion throughout the year, including $925 million for gas infrastructure. The company anticipates that these investments will drive a 9.5-11.5% rate base growth and support 12-14% long-term adjusted earnings per share growth through 2030. Over the last six months, SWX shares have increased by 8.5%, significantly outperforming the industry average.
Despite these positive indicators, Southwest Gas faces challenges such as reliance on its subsidiaries for financial performance and risks associated with natural gas distribution operations, which include potential service disruptions from pipeline emergencies.
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