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Heurist Finance

Southwest Gas raises Great Basin expansion capex and margin outlook

PR Newswire ·
Southwest Gas raises Great Basin expansion capex and margin outlook
  • Southwest Gas reported Q2 adjusted EPS from continuing operations of $0.45, up from $0.37 a year earlier, and reaffirmed FY26 guidance.
  • Contracted demand for the Great Basin 2028 expansion reached roughly 1 Bcf per day, lifting expected annual margin to $270 million to $300 million and projected capital investment to about $2.3 billion.
  • The company described the California utility regulator's decision on non-cost-of-capital rate-case items as constructive, with a final decision expected in August.

Quotes

“Contracted demand for the 2028 expansion has grown to roughly 1 billion cubic feet per day, and the project continues to see strong commercial interest, including an additional 1.8 Bcf of expressions of interest which could lead to binding agreements for future phases during the 2029 to 2035 period.”— Justin Brown

Sources