Financial Data and Key Metrics Changes - The company reported record net income for the first quarter of 2025, with a trailing twelve-month return on equity (ROE) of 8.2% [9][10] - Net income for the utility Southwest Gas increased by over $7 million or 5.2% compared to the first quarter of the previous year [30] - The utility operating margin increased by $38.9 million, driven by $27 million of combined rate relief across jurisdictions and customer growth [27] Business Line Data and Key Metrics Changes - Century's results benefited from higher volumes under master services agreements and storm-related activity, although there was a reduction in offshore wind project revenues compared to the prior year [26] - The utility saw approximately 40,000 new meter sets added over the past twelve months, contributing to customer growth [27][22] Market Data and Key Metrics Changes - Economic activity and demand for natural gas service remain strong, particularly in Arizona and Nevada, with significant growth in sectors such as advanced manufacturing and data centers [21][22] - Population growth projections for Arizona and Nevada are expected to outpace the national average over the next five years, driving demand for new gas service [23] Company Strategy and Development Direction - The company is focused on becoming a premier fully regulated natural gas utility and is committed to separating Century in a manner beneficial to stockholders [10][11] - The company plans to invest approximately $4.3 billion over the next five years to support safety, reliability, and economic development across its service territory [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in reaffirming the net income guidance range of $265 million to $275 million for 2025, supported by strong regional economic outlook and completed rate cases [35] - The company aims to maintain a flat O&M cost per customer trend while navigating regulatory cycles that may impact net income growth [35] Other Important Information - The company has over $400 million in cash on hand and more than $1 billion in liquidity, providing flexibility for capital investments [13] - The company is pursuing a binding open season for potential system expansion in Great Basin, which will help gauge interest from existing and potential new shippers [16] Q&A Session Summary Question: What is the current status of your plans to exit Century? - Management reiterated their commitment to the separation of Century and mentioned the ability to file an S-three to facilitate market execution [42] Question: What are the financial implications of the SIM if the settlement is approved? - Management indicated that clarity on timing and projects would come once the SIM is approved, which represents about 40% of non-revenue producing infrastructure investment [43] Question: Has there been any change to Southwest Gas' internal controls or accounting processes? - Management confirmed that there have been no changes in internal controls related to the recent accounting issue that caused a delay in the earnings call [47] Question: Can you speak to the incremental CapEx investment opportunities from the influx of data centers? - Management stated that current guidance has not changed significantly due to the new demand, but they will monitor and adjust as necessary [50] Question: Is the Great Basin open season binding, and what CapEx is associated with it? - Management confirmed that the open season is binding and will provide better indications of future CapEx changes once it closes [54]

Financial Data and Key Metrics Changes - The company reported GAAP earnings per share of $1.3, a 6% increase compared to the same quarter last year [6] - Revenues increased by 28% from $612.1 million to $783.6 million year-over-year [24] - The company reaffirmed its 2025 earnings per share guidance range of $2.07 to $2.11, compared to last year's non-GAAP earnings of $1.97 per share [7] Business Line Data and Key Metrics Changes - Both the Water and Gas businesses performed well, contributing to the overall strong results [6] - The Gas segment reported an increase in volumes due to normal weather conditions compared to significantly warmer weather in the previous year [24] Market Data and Key Metrics Changes - The company has begun to raise equity through its ATM program, issuing approximately $210 million so far this year [8] - The company is in discussions with data center developers representing up to five gigawatts of needed power generation in the Pittsburgh region [21] Company Strategy and Development Direction - The company plans to invest between $1.4 billion and $1.5 billion in infrastructure improvements in 2025, with $270.5 million already invested by March 31 [7] - The company is focusing on water and wastewater utility acquisitions, having acquired over $518 million in rate base since 2015 [32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting the full-year earnings per share guidance, citing strong first-quarter performance but cautioning about potential headwinds in the remaining quarters [52] - The company is committed to addressing PFAS compliance and expects to spend approximately $450 million to achieve compliance by 2028 [10][56] Other Important Information - The company has been recognized for its operational achievements, including a 99.8% water quality compliance rate [9] - New rates went into effect for Aqua Pennsylvania, expected to increase total annual revenues by $73 million [31] Q&A Session Summary Question: Regarding equity issuance and share price - Management indicated that the focus is on raising the $315 million in equity needed for 2025 rather than considering 2026 equity needs at this time [43] Question: Texas rate case expectations - Management stated that they plan to file the Texas rate case by the end of the month and will provide details on revenue requests and equity layers at that time [45] Question: EPS guidance and performance - Management acknowledged strong first-quarter performance but emphasized the need to wait for clarity as the year progresses before adjusting guidance [52] Question: Impact of EPA announcement on PFAS - Management confirmed that they are proceeding with their PFAS mitigation plans and remain on track with their budget [56] Question: Data centers and gas supply - Management discussed various approaches to support data center development, including behind-the-meter generation and increased distribution volume [65] Question: Beaver Falls settlement status - Management expressed optimism about the Beaver Falls case being on the agenda in June and highlighted the importance of resolving such cases for water supply [90]

Core Viewpoint - ONE Gas, Inc. has announced a public offering of 2,500,000 shares of its common stock, aiming for gross proceeds of approximately $197.5 million, with the offering expected to close on May 12, 2025 [1][4]. Group 1: Offering Details - The public offering is priced at approximately $197,500,000, assuming no additional shares are purchased by the underwriter [1]. - ONE Gas has granted the underwriter an option to purchase up to 375,000 additional shares [1]. - The forward sale agreement involves selling 2,500,000 shares, with a potential increase to 2,875,000 shares if the underwriter's option is fully exercised [3]. Group 2: Financial Implications - ONE Gas will not initially receive proceeds from the forward sale unless it is required to sell shares directly to the underwriter [4]. - The company intends to use any net proceeds for general corporate purposes, including debt repayment, working capital, and capital expenditures [4]. Group 3: Company Overview - ONE Gas is a regulated natural gas utility, trading under the symbol "OGS" on the New York Stock Exchange [7]. - The company serves over 2.3 million customers across Kansas, Oklahoma, and Texas, with divisions including Kansas Gas Service, Oklahoma Natural Gas, and Texas Gas Service [8].

Group 1 - ONE Gas, Inc. plans to make a public offering of 2,500,000 shares of its common stock [1][3] - The offering includes an option for the underwriter to purchase up to an additional 375,000 shares [1][3] - J.P. Morgan Securities LLC is acting as the sole underwriter for the offering [2] Group 2 - The forward sale agreement allows ONE Gas to sell shares at a price equal to the underwriter's purchase price [3] - Settlement of the forward sale agreement is expected to occur no later than December 31, 2026 [3] - ONE Gas may elect cash settlement or net share settlement for its obligations under the forward sale agreement [4] Group 3 - Proceeds from the offering will be used for general corporate purposes, including debt repayment and capital expenditures [4] - ONE Gas is a regulated natural gas utility serving over 2.3 million customers in Kansas, Oklahoma, and Texas [7][8] - The company operates divisions including Kansas Gas Service, Oklahoma Natural Gas, and Texas Gas Service [8]

Financial Performance - The company's net income for Q1 2025 was $27.5 million, or $1.69 per share[8] - Adjusted net income for Q1 2025 was $28.4 million, or $1.74 per share, an increase of $1.2 million or $0.05 per share compared to 2024[8] - The company reaffirms its 2025 earnings guidance to be in the range of $3.01 to $3.17[55] Acquisitions and Growth - The company completed the acquisition of Bangor Natural Gas ("BNG") in January 2025, adding approximately 8,730 customers[8, 36] - The company announced the acquisition of Maine Natural Gas ("MNG") in April 2025 for approximately $86 million, expected to close by the end of the year, adding approximately 6,300 customers[8, 11] - The company announced the acquisition of three water utilities (Aquarion Water (MA & NH) and Abenaki Water (NH)) on May 6, 2025, for an enterprise value of $100 million, including approximately $30 million of debt[8, 18] Rate Base and Capital Investment - The company expects a long-term rate base growth of 6.5% - 8.5%[8] - The company's five-year projected capital investment is approximately $980 million, 46% higher than the prior five years[48] Natural Gas Operations - The company has 86,600 natural gas customers[3, 8, 59, 63, 64, 65, 66, 76, 79, 81] - Adjusted gross margin for gas operations increased by 16.2%, or $9.9 million, reflecting higher rates and customer growth[36, 37]

Financial Performance - ONE Gas reported revenue of $935.19 million for the quarter ended March 2025, reflecting a 23.3% increase year-over-year [1] - Earnings per share (EPS) for the quarter was $1.98, up from $1.75 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $803.58 million by 16.38%, while the EPS also surpassed the consensus estimate of $1.85 by 7.03% [1] Key Metrics - Natural Gas Sales - Transportation volumes reached 65,300 MMcf, exceeding the average estimate of 64,475.83 MMcf [4] - Total Sales Volumes Delivered for Natural Gas were 79,300 MMcf, compared to the average estimate of 72,123.38 MMcf [4] - Total Volumes Delivered for Natural Gas amounted to 144,600 MMcf, surpassing the average estimate of 136,632.5 MMcf [4] - Residential Natural Gas Sales volumes were 58,900 MMcf, higher than the estimated 56,064.04 MMcf [4] - Revenue from Natural Gas Sales was $870.40 million, exceeding the average estimate of $719.29 million [4] Stock Performance - ONE Gas shares have returned +6.6% over the past month, outperforming the Zacks S&P 500 composite's +0.4% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

LAS VEGAS, May 1, 2025 /PRNewswire/ -- Southwest Gas Holdings, Inc. (NYSE: SWX) ("Southwest Gas" or the "Company") is pleased to announce the election of Brian E. Sandoval to its Board of Directors at the Company's annual meeting earlier today. Brian E. Sandoval With a distinguished career in public service and governance, Sandoval brings extensive legal, regulatory, and corporate leadership experience to help guide the Company as it continues its focus on delivering long-term growth and value to stock ...

Corporate Governance - Shareholders elected four new members to the Board of Directors for a term of three years: Anne L. Alonzo, Katherine Kountze, Jane Lewis-Raymond, and David A. Whiteley [1] - The selection of Deloitte & Touche, LLP as independent registered public accountants for 2025 was ratified by shareholders [1] - An advisory vote on executive compensation received approval from 91% of shareholders [2] Strategic Direction - The Chairman and CEO, Thomas P. Meissner, Jr., highlighted the company's achievements in 2024 and discussed the strategic transition to a clean energy future aimed at creating long-term sustainable value [3] Company Overview - Unitil Corporation is a public utility holding company providing electricity and natural gas in New England, serving approximately 109,400 electric customers and 97,600 natural gas customers [4]

Core Viewpoint - Analysts expect Williams Companies, Inc. (WMB) to report quarterly earnings of $0.57 per share, reflecting a year-over-year decline of 3.4%, while revenues are projected to be $3.14 billion, an increase of 13.4% from the previous year [1] Earnings Projections - The consensus EPS estimate has been revised 4.6% lower over the last 30 days, indicating a reevaluation of initial estimates by analysts [1][2] Key Metrics Estimates - Analysts predict 'Northeast G&P - Gathering volumes' at 4.31 Bcf/D, slightly down from 4.33 Bcf/D a year ago [4] - 'West - NGL equity sales' are expected to reach 6 million barrels of oil per day, unchanged from the previous year [4] - 'West - Gathering volumes' are forecasted at 5.71 Bcf/D, down from 5.75 Bcf/D in the same quarter last year [5] - 'Adjusted EBITDA- Other' is projected to be $108.41 million, up from $74 million year-over-year [5] - 'Adjusted EBITDA- Northeast G&P' is estimated at $495.34 million, down from $504 million a year ago [5] - 'Adjusted EBITDA- Transmission and Gulf of Mexico' is expected to reach $897.66 million, compared to $839 million in the same quarter last year [6] - 'Adjusted EBITDA- West' is projected at $366.14 million, up from $328 million year-over-year [6] - 'Adjusted EBITDA- Gas & NGL Marketing Services' is expected to be $119.41 million, down from $189 million a year ago [7] - 'Modified EBITDA- Northeast G&P' is estimated at $491.69 million, slightly down from $504 million in the previous year [7] - 'Modified EBITDA- Transmission and Gulf of Mexico' is projected at $907.81 million, up from $829 million year-over-year [8] - 'Modified EBITDA- West' is expected to be $374.29 million, compared to $327 million in the same quarter last year [8] Stock Performance - Over the past month, Williams Companies shares have recorded a return of -1.5%, compared to the Zacks S&P 500 composite's -0.2% change, indicating a performance that aligns with the overall market [8]

Financial Data and Key Metrics Changes - The company reported adjusted earnings of $3.6 per share for Q2 FY 2025, an increase from $3.45 per share in the same quarter last year, reflecting strong growth in utility and midstream segments [7] - Adjusted earnings for the quarter totaled over $214 million, an increase of almost $18 million compared to the previous year [17] - The Gas Utilities segment had earnings of approximately $195 million, over $7 million higher than last year, driven by increased ISRS revenues and usage [18] Business Line Data and Key Metrics Changes - The utility CapEx increased nearly 27% year over year, focusing on upgrading distribution infrastructure and connecting more homes to natural gas [14] - Midstream segment earnings showed strong growth due to new contracts and higher rates on contract renewals [19] - Marketing segment earnings were strong but slightly lower than the prior year due to reduced market volatility [20] Market Data and Key Metrics Changes - The labor market in St. Louis has fully recovered, reaching pre-pandemic employment levels, which is expected to drive economic growth [12] - The Missouri Public Service Commission staff recommended a $19 million revenue increase in the infrastructure system replacement surcharge [8] Company Strategy and Development Direction - The company remains focused on organic growth, infrastructure investment, and continuous improvement, with a long-term EPS growth target of 5% to 7% [11][26] - A ten-year capital investment plan of $7.4 billion is in place to support growth [11] - The company is committed to modernizing systems and enhancing regulatory engagement to maximize value for stakeholders [6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving fiscal 2025 adjusted earnings guidance of $4.4 to $4.6 per share, despite challenges from weather-related margin headwinds [22][26] - The company is focused on executing its capital investment plan and driving operational excellence to strengthen utility and gas-related business performance [11][26] Other Important Information - The company is increasing its fiscal 2025 capital investment target by $50 million to $840 million, with significant investments in both utility and midstream segments [14] - The Missouri rate case is ongoing, with proposed revenue increases and discussions on weather mechanisms being a key focus [15][42] Q&A Session Summary Question: Can you speak about 1H trends and full-year guidance? - Management acknowledged margin weakness in Missouri and adjusted guidance accordingly, while midstream performance exceeded expectations [31][32] Question: What are the prospects for a settlement within the rate case? - Management indicated that settlement discussions are anticipated, with community meetings and public hearings scheduled [46] Question: Can you elaborate on the weather mechanism in the rate case? - Management confirmed that the weather mechanism is a significant focus and they are working on options to address it with stakeholders [42][44] Question: How does the passage of SB4 affect future rate cases? - Management stated that the first opportunity to file based on a future test year will be in July 2026, and they are focused on the current rate case [51][53] Question: How does the guidance modification reflect the utility business's earnings power? - Management confirmed that fixing the weather mechanism could restore earnings power, while midstream and marketing businesses show slight structural uplift [61][64]