Southwest Gas Holdings, Inc. (SWX) has reported 1.42 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $65.18 million, or $1.36 a share in the quarter, compared with $66.12 million, or $1.38 a share for the same period last year. Revenue during the quarter dropped 6.40 percent to $641.52 million from $685.40 million in the previous year period.
Commenting on Southwest Gas Holdings performance and outlook, John P. Hester, president and chief executive officer, said: "2016 was a banner year for our Company as we delivered record-setting EPS of $3.20 and both business segments improved their results. Our natural gas operations benefitted from the addition of 28,000 net new customers and Centuri, our construction services segment, posted record revenues and net income. Our strong performance and expectations of continuing growth in 2017 gave the Board the confidence to approve a 10% increase in the common stock dividend last week.
For financial year 2017, the company forecasts operating income to grow in the range of 10 percent to 12 percent.
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