How often does Southwest Gas move more than the options market prices?

1 of the last 8 reports moved at least as far as the implied move.

SWXNYSENatural Gas Transmisison & Distribution

Southwest Gas Holdings, Inc. (SWX) earnings date, market-implied expected move, and options open interest by expiry

92.30

−0.83 · −0.89%

post 92.30 0.00%

After hours16:00 ETdelayed

Open91.66Volume717,130Mkt cap$6.7BP/E12.21EPS7.56Div yield2.72%

Day90.12 – 92.9777%52-wk74.79 – 94.4289%

SWX

Southwest Gas Holdings, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

No implied move.

Expected move

Inputs

Next report

Feb 24

before open · in 112 days

est.Q4 FY26

Calendar

Next report

Last report

Nov 4

before open

confirmed

Implied vs realized

Largest filed tie

—

Supply chain

Largest filed tie

13F top-10 QoQ

+1.50%

shares held · 10 largest managers

13F · Jun 30 '26128d lag

408 managers

Top fund weight

0.20%

SWX weight · IWM

N-PORTJun 30 '26

5 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Southwest Gas (SWX) is expected to report on Feb 24 before open (estimated date).

Implied vs realized

8 reports

1 of 8≥ implied

avg implied: ±5.3%
avg realized: ±2.5%

Feb 26 '25Feb 26 '25confirmed±5.4%▼−2.48%×0.46

May 12 '25May 12 '25confirmed±6.0%▼−7.77%×1.29

Aug 6 '25Aug 6 '25confirmed±5.4%▼−1.68%×0.31

Nov 5 '25Nov 5 '25confirmed±4.6%▼−4.07%×0.88

Jan 9 '26Jan 9 '26confirmed±2.8%▲+0.57%×0.20

Q1 FY26Feb 25 '26confirmed±6.8%▼−1.06%×0.16

May 5 '26May 5 '26confirmed±6.1%▲+0.64%×0.10

Q2 FY26Aug 5 '26confirmed±4.9%▲+1.82%×0.37

quarterimplied−10%0+10%realized×

Q2 FY26±4.9%▲+1.82%×0.37

May '26±6.1%

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 4 expiries · Nov 3 close

2.67OI · 4 expiries · Nov 3 closeP/C open interest · Apr 16 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

32+220%Nov 2016d5.3360%5.33

0—Dec 1844d0.002+100%0.00

320%Jan 1572d2.46130%2.46

report · Feb 24 · before open · est.

56+2%Apr 16163d210%

ExpiryPutsCallsP/C

Nov 2016d32+220%60%5.33

Dec 1844d0—2+100%0.00

Jan 1572d320%130%2.46

report · Feb 24 · before open · est.

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

No implied move.

Linked exposure

Revenue flow

as filedQ3 FY26

4.29%as filednet margin · revenue −16.74% QoQ · −5.91% YoY

Revenue

$298M−16.74% QoQ

Gross profit

$141M−24.04% QoQ

47.36% margin

Operating income

$36M−57.84% QoQ

11.92% margin

Pre-tax income

$8M−84.48% QoQ

Net income

$13M−69.65% QoQ

4.29% margin

Cost of revenue

$157M−8.87% QoQ

Operating expenses

$106M+4.01% QoQ

Depreciation $81M

Other operating $25M

Other expense

$28M

Tax benefit

$5M

Revenue$298M−16.74%

Gross profit

$141M−24.04%

47.36% margin

Operating income

$36M−57.84%

11.92% margin

Pre-tax income

$8M−84.48%

Net income

$13M−69.65%

4.29% margin

Cost of revenue

$157M−8.87%

Operating expenses

$106M+4.01%

Depreciation $81M

Other operating $25M

Other expense

$28M

Tax benefit$5M

flow · deduction · signed % = QoQSource: SEC filings · standardized · QE Sep 30 '26 · width = $

Revenue flow

Intraday

15m bars

Hatch = extended hours · ▯ up · ▮ downSource: market data · 16:00 ET

Intraday

Event sensitivity

FOMC ×1.18· ±1.2% vs ±1.0% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±1.2%9 of 24×1.18

GDPgross domestic product±1.2%10 of 19×1.10

CPROFcorporate profits±1.0%6 of 12×0.97

PCEpersonal income & outlays±1.0%10 of 19×0.95

NFPjobs report±1.0%5 of 10×0.94

PPIproducer prices±0.8%2 of 10×0.78

CPIconsumer prices±0.7%8 of 10×0.66

Bar = avg |move| to ±2% · tick = ±1.0% avg day · ×base = |move| ÷ ±1.0% · min 6 releases

Earnings history

EPS 0.18 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	—	0.18	—
Q2 FY26	Aug 5 '26 · confirmed	0.58	—
Q1 FY26	Feb 25 '26 · confirmed	1.91	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod