Southwest gas earns $10.1 million in 2nd quarter
Las Vegas-based Southwest Gas, which provides natural-gas service to 1.9 million customers in Nevada, Arizona and California, reported its second-quarter earnings today.
Company: Southwest Gas Corp. (NYSE:SWX)
Revenue: $411.6 million (up 0.4 percent from the second quarter of 2012).
Earnings: $10.1 million (up from a loss of $3.7 million in the second quarter of 2012). The turnaround was attributed in large part to a stronger performance by its pipeline construction services unit, NPL Construction Co.
Earnings per share: 22 cents (up from a loss of 8 cents per share in second quarter of 2012).
Quote: “We are pleased with our second quarter 2013 earnings of $0.22 per share. This reflects solid performances by both the natural gas and construction services segments. NPL contributed $8.1 million to the bottom line this quarter, a significant turnaround from the prior-year quarter’s net loss.” — Jeffrey W. Shaw, president and CEO