Southwest Gas Holdings (SWX) FY2023 results: revenue $2.5 billion, down 48.9% on the year
Southwest Gas Holdings, Inc. (SWX) reported revenue of $2.5 billion for fiscal 2023, the year ended 31 December 2023, down 48.9% on the year before. Net income was $151 million, and diluted earnings per share $2.13. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.
Revenue
$2.5 billion
-48.9% on the year
FY2016FY2023
Operating margin
11.6%
-0.5% a year earlier
FY2016FY2023
Net income
$151 million
FY2016FY2023
Diluted EPS
$2.13
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
509
407
111
+25.0%
Capital expenditure
766
859
716
-10.9%
Free cash flow
-257
-452
-604
Free cash flow margin
-10.1%
-9.1%
-16.4%
Cash from investing
151
-839
-3,036
Cash from financing
-701
356
3,063
Depreciation and amortisation
295
470
371
-37.2%
Share-based compensation
6.2
9.4
9.3
-34.1%
Dividends paid
175
161
138
+8.7%
Dividend per share
$2.48
$2.48
$2.38
0.0%
Diluted shares, weighted
71m
66m
59m
+8.3%
Shares outstanding at period end
72m
67m
60m
+6.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,310
3,059
2,954
+8.2%
Non-controlling interest
0.0
n/a
n/a
Redeemable equity
105
159
197
-34.3%
Short-term borrowings
628
n/a
n/a
Debt
4,652
5,991
6,322
-22.3%
Other liabilities
582
3,988
3,293
-85.4%
Total liabilities and equity
9,277
13,197
12,765
-29.7%
Goodwill
790
787
1,781
+0.3%
Cash and equivalents
107
123
223
-13.4%
Receivables
887
866
707
+2.3%
Other assets
7,494
11,420
10,054
-34.4%
Total assets
9,277
13,197
12,765
-29.7%
10-K for the year ended 31 December 2023, filed 28 February 2024: the filing.