Filing Flows › Southwest Gas Holdings (SWX) › Q2 2025
Southwest Gas Holdings (SWX) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Southwest Gas Holdings (SWX) reported revenue of $1.1B for the second quarter 2025 (Q2 2025), -5% from a year earlier and -14% from the quarter before. Operating margin was 8.5%, net loss $10.3M (0.9% of revenue).
Southwest Gas Holdings, Q2 2025: revenue $1.1B (-5% year over year), operating margin 8.5%, net loss $10.3M, operating cash flow $126M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | -14% | -5% |
| Operating profit | $95.5M | -47% | — |
| Net earnings | −$10.3M | -111% | — |
| Operating cash flow | $126M | -57% | -59% |
What changed
Revenue was $1.1B in Q2 2025, down 5% year over year and down 14% from the previous quarter.
Operating profit was $0.10B, a 8.5% margin (up 1.5 points year over year). Total costs fell 7% while revenue fell 5%. The quarter ended with a net loss of $0.01B, after a profit of $0.11B the previous quarter. Net interest and other expense of $0.05B was the main reason.
Operating cash flow was $0.13B (down 59% year over year). Non-cash charges added back $0.10B of depreciation and amortization and $4.7M of share-based compensation. Working capital and other items added $0.03B. Capital expenditures of $0.20B exceeded it, leaving free cash flow of −$0.07B.
Questions
What was Southwest Gas Holdings' revenue in the second quarter 2025?
Southwest Gas Holdings (SWX) reported revenue of $1.1B for the second quarter 2025 (Q2 2025), -5% from a year earlier and -14% from the quarter before.
Was Southwest Gas Holdings profitable in the second quarter 2025?
Operating profit was $95.5M (8.5% of revenue) and net loss $10.3M.