SAN FRANCISCO, June 19, 2018 (GLOBE NEWSWIRE) -- Southwest Gas Holdings, Inc. (NYSE:SWX), through its subsidiaries, engages in the business of purchasing, distributing, and transporting natural gas, and providing construction services across North America. Southwest Gas Corporation (Southwest), a wholly owned subsidiary, safely and reliably delivers natural gas to more than two million commercial and residential customers in Arizona, California, and Nevada. Centuri Construction Group, Inc. (Centuri), a wholly-owned subsidiary, provides construction and maintenance services throughout the United States and Canada.
- Dividend growth of approximately 9.5% for the last five years ended March 31, 2018
- Total annualized shareholder return of 12.4% for the 10-year period ended March 31, 2018
- 1.6% customer growth for the 12-month period ended March 31, 2018 (Southwest)
- More than two million customers served (Southwest)
- 2018–2020 capital expenditures estimated at $2 billion (Southwest)
- Projecting 12% annual rate base growth over the period 2018 to 2020 (Southwest)
- One of North America’s largest providers of utility and energy construction services (Centuri)
- Continued growing trend with record financial results in 2017 (Centuri)
Click here to view the SWX Corporate Investor Presentation
Advisor Access spoke with President and CEO John P. Hester about Southwest Gas Holdings, Inc.’s growth story.
Advisor Access: Can you provide us with a little background on the Company?
John P. Hester: Southwest Gas Holdings, Inc. has two business segments, Southwest and Centuri. Southwest was incorporated in March 1931 under the laws of the state of California and now provides regulated natural gas delivery services to customers in Arizona, California, and Nevada. In 1996, we added NPL Construction Co. (now Centuri). Centuri is a comprehensive construction service enterprise dedicated to meeting the growing demand of North American utility, energy and industrial markets. We have built an enviable reputation as a trusted leader in natural gas distribution and construction services…
AA: What is the economic outlook for Southwest’s service territories and how is that impacting growth?
JPH: Our utility service territories are in some of the fastest growing states in the country. Both Arizona and Nevada currently enjoy robust population growth, low unemployment rates, and a surge of activity in the housing and real estate markets. This environment has led to significant customer growth. In fact, we reached an important milestone in November 2017 when we celebrated service to two million natural gas customers across our three-state territory…
AA: …What can you tell investors about the Company’s dividend policy?
JPH: Southwest Gas Holdings, Inc. had a 9.52% average compounded annual growth rate per share over the last five years…and we expect to increase future dividends inline with our long-term sustainable earnings growth.
AA: What is Southwest’s view of sustainability, and financial and community stewardship?
JPH: We are committed to stewarding our natural resources with care. This means offering programs that help our customers save energy and reduce their environmental footprints. Similarly, we are also doing our part to reduce our impact on the environment. We are striving to achieve a 20% reduction in Southwest’s greenhouse gas (GHG) emissions from fleet and building facilities by 2025, using 2015 emissions as the baseline…
AA: So John, what should investors take away from our discussion?
JPH: Over the past year Southwest Gas Holdings, Inc. has celebrated important milestones in both its natural gas and construction services businesses. The achievements we mark today set a solid path forward as we look toward tomorrow’s opportunities…
AA: Thank you, John.
Read the complete answers to these questions others along with the full interview with Southwest Gas Holdings, Inc., HERE.
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DISCLOSURE:
Southwest Gas Holdings, Inc. has paid Advisor Access a fee to distribute this email. John P. Hester had final approval of the content and is wholly responsible for the validity of the statements and opinions.