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![Southwest Gas Holdings, Inc. [SWX] reports annual net loss of $155.5 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FSWX.png&w=1200&q=75)
Southwest Gas Holdings, Inc. [SWX] has reported a net loss of $155.5 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $2.5 billion
Based in LAS VEGAS, Nevada, Southwest Gas Holdings, Inc. operates in the TRANSPORT sector.
In the financial comparison for Southwest Gas Holdings, Inc., the consolidated statement of income for the 12 months ended December 31, 2023, and the corresponding periods for 2022 and 2021 is as follows:
Operating revenues:
- Regulated operations revenues were $2.53 billion in 2023 compared to $2.20 billion in 2022 and $1.52 billion in 2021.
- Utility infrastructure services revenues amounted to $2.90 billion in 2023, slightly higher than $2.76 billion in 2022 and significantly more than $2.16 billion in 2021.
- Total operating revenues reached $5.43 billion in 2023, showing growth from $4.96 billion in 2022 and $3.68 billion in 2021.
Operating expenses:
- Net cost of gas sold increased to $1.25 billion in 2023 from $799 million in 2022 and $430 million in 2021.
- Operations and maintenance costs decreased to $544 million in 2023 from $637 million in 2022 and $473 million in 2021.
- Depreciation and amortization expenses were $440 million in 2023, slightly down from $470 million in 2022 and $371 million in 2021.
- Taxes other than income taxes and utility infrastructure services expenses also showed varying trends over the three years.
Operating income:
- Operating income for 2023 stood at $418 million, significantly improved from a loss of $24 million in 2022 and higher than $369 million in 2021.
Other income and expenses:
- Net interest deductions, other income (deductions), and total other income and expenses all exhibited fluctuations across the three years.
Net income (loss):
- The company reported a net income of $155 million in 2023, a positive turnaround from a net loss of $198 million in 2022 and slightly less than $207 million in 2021.
- Net income attributable to Southwest Gas Holdings, Inc. was $151 million in 2023, compared to a loss of $203 million in 2022 and income of $201 million in 2021.
Earnings per share:
- Basic and diluted earnings per share were $2.13 in 2023, in contrast to negative values in 2022, and $3.39 in 2021.
- Weighted average shares increased from 59,145 in 2021 to 70,787 in 2023.
This financial comparison reflects the company's performance and financial position over the past three years.
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