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May 23, 2015 12:16 AM ET

Gas Utilities

Company Overview of Southwest Gas Corporation

Company Overview

Southwest Gas Corporation purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates in two segments, Natural Gas Operations and Construction Services. As of December 31, 2014, it had 1,930,000 residential, commercial, and industrial natural gas customers. The company, through its subsidiaries, operates as an underground piping contractor that provides utility companies with trenching and installation, replacement, and maintenance services for energy distribution systems. It also provides construction and maintenance services for the utility industry; and industrial construction solutions, fabrication, and civil services to the oil and gas, pu...

5241 Spring Mountain Road

Post Office Box 98510

Las Vegas, NV 89193

United States

Founded in 1931

6,232 Employees

Phone:

702-876-7237

Key Executives for Southwest Gas Corporation

Chief Executive Officer and President
Age: 51
Total Annual Compensation: $532.0K
Chief Financial Officer and Senior Vice President
Age: 56
Total Annual Compensation: $411.5K
Senior Vice President of Operations
Age: 46
Total Annual Compensation: $261.4K
Senior Vice President of Corporate Development
Age: 59
Total Annual Compensation: $391.5K
Executive Vice President
Age: 57
Total Annual Compensation: $338.4K
Compensation as of Fiscal Year 2014.

Southwest Gas Corporation Key Developments

Southwest Gas Corporation Plans to Redeemed Bonds on May 21, 2015

On May 15, 2015, Southwest Gas Corporation announced notices were sent to the holders of all $31,200,000 of the 5% Series 2004B Clark County, Nevada Industrial Development Revenue Bonds (Southwest Gas Corporation Project) that the Bonds will be redeemed on May 21, 2015 (the Redemption Date") at a redemption price equal to 100% of the principal amount, plus accrued but unpaid interest to the Redemption Date. The Bonds are obligations of Southwest Gas Corporation, and the Company plans to use cash and funds from its credit facility to fund the redemption.

Southwest Gas Corporation Declares Third Quarter Dividend, Payable on September 01, 2015

The Board of Directors for Southwest Gas Corporation has declared a cash dividend $0.405 per share on common stock for the third quarter of 2015. The dividend will be payable on September 01, 2015 and the record date is August 17, 2015.

Southwest Gas Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Full Year of 2015

Southwest Gas Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company’s net income was $71.983 million or $1.53 per diluted share against $70.8 million or $1.51 per diluted share a year ago. Operating revenue was $734,220,000 compared to $608,396,000 a year ago. Operating income was $137,171,000 compared to $129,769,000 a year ago. Income before income taxes was $123,677,000 compared to $114,154,000 a year ago. The updated surcharge reflects total capital expenditures to date of $16 million, of which $6.3 million were incurred during 2014 for both Phase I and Phase II projects. The company provided earnings guidance for the full year of 2015. For 2015, the company expects to make capital expenditures in support of that effort totaling $445 million. 2015 operating margin is expected to increase by 2%.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 2, 2014
Brigadier Pipelines Inc. and The Link-Line Group of Companies
 

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