Southwest Gas Holdings (SWX) stock plummeted 6.82% during intraday trading on Wednesday, following the release of its fourth-quarter 2025 financial results.

The company reported adjusted earnings per share of $1.36 for Q4 2025, which missed the analyst consensus estimate of $1.38. More significantly, quarterly revenue came in at $480.7 million, falling well short of the $587 million estimate and representing a 13.1% decline from the same period last year.

Concurrently, the company announced a leadership transition, with Justin Brown appointed to succeed Karen Haller as Chief Executive Officer effective May 8, 2026. While the board approved a 4% increase in the quarterly dividend and provided long-term earnings growth guidance, the immediate market reaction was driven by the substantial revenue shortfall and the slight earnings miss against expectations.