Southwest Gas Says 2Q, 3Q 2025 Reports Shouldn’t Be Relied Upon

Southwest Gas audit committee identified errors with deferred liabilities for state income taxes.

• Errors don’t affect previous guidance
• Company reaffirms 2025 guidance for net income and the expected growth rates for net income and rate base for 2025-2029
• Income tax expense and net deferred income tax liabilities were understated by ~$27m for the three and six months ended June 30, and for an incremental $8m as of and for the three and nine months ended Sept. 30

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Jim Silver in New York at jsilver@bloomberg.net ...