afternoon, Earlier and announced additional this Paul. information. Thanks, XXXX earnings first-quarter financial some segment and our we provided statistical
first our our comprehensive XXXX tomorrow file quarter documents SEC. first-quarter XX-Q refer will analysis Please a these We of Form with to for the results.
XX, for per the slide XXXX. a share was quarter on EPS adjusted shown $X.XX diluted first consolidated As of
on focused our and value stockholders, excellent our customers, our are opportunities We enhancing to to providing for service delivering employees.
the continue over new Southwest Gas, highlights the natural programs increase under the customers California. release well million utility, months. our provided on about coming that are adding segments. operating rates customers other in Let half the growing recoveries some as base, of the in gas me the $XX half past from margin touch distribution of and customer coil between the VSP our Arizona, At Those quarters with XX we as trend of primarily XX,XXX
of invested a gas we serve expansion, quarter the our system to natural distribution and $XXX in reliability customers. million better our For the safety,
of recognized At first expense, ownership costs income. Centuri incremental MountainWest, consistent net and stock our amortization originally expense adjusted the fleet addition completes and were first $XXX half with also We its permanent organic during XXXX, related million $XXX the both by of of issued and also MountainWest. MountainWest to results first XX% impacted quarter of $XX quarter bottom equipment. compared higher revenue of revenue Gas of growth growth. Coupled net X.XX%. Acquisition financing. $XX.X $XXX At of of of trucks when total million, the million acquisition of reflecting were Riggs the components years our a the were and as intangible is for completed XX% XXXX. we financing debt raise quarter million financing was XX holdings recorded of hampered part revenues internal This line for with common significant Centuri, equity equity fuel for million expectations. of about Distler, Southwest estimated interest March In our income our
east. comparative track of move areas XXXX a the meet Centuri With revenue was let's As in and margin and operating performing seasonality three quarter the of slide climate to availability, that, and summary to the the the Centuri's EBITDA due on a segments. work results full-year in next colder first Midwest guidance. our to especially remains reminder, from quarter lowest
Slide quarters and incremental proxy shown to net which The of consist in related of of of the of results in operating million corporate touch next segment. million items. in includes surrender line declined quarter, between each Poly the increase Distribution quarter was the margin, pre slides. As increase XXXX policies consolidated million primarily XX, the declined Natural Despite XXXX. results about income XXXX, a XX, segments a compared during $XX of litigation the current quarterly first values the administrative adjusted stock are costs comparative Slide the The Gas on cash XXXX. quarter the in results adjustments $XX costs, million the to $XXX record associated interest the depicts I'll $X components $XXX from million million by of $X net several $X.X upon first-quarter first of the in a acquisition of It and also million of operating contest decline due with MountainWest. market. overall in -tax the
higher $X.X quarter O&M the service increase. million While costs, employee was to gas a in X%, support other increased The well a benefit as quarters as million $XXX prior-year Higher $X.X and inflationary service-related impacts million, related systems. between Depreciation insurance up service. increase increase or for or also million, reflected X%, pension includes plant cost and million customer were $X.X experienced. due to $XX.X
indicated, in bolster we results in that rate As our April for XXXX. will full-year release began recognizing Nevada incremental
we first the quarter XXst, indicated XXXX. provides a As them XX results in seasonal expected adjusted of our Arizona and Centuri. relief earlier, incremental quarters XX consistent income is rate the Both expectations. December net since shows on MountainWest Justin and acquired Slide for early XXXX. adjusted losses view internal at EBITDA of comparative were EBITDA levels net the Slide with adjusted in
details. which the XX components waterfall Slide to results additional in chart some Centuri's depicts major change move the Let's between quarters. This provides of
As $X.X on items, to including timing shown, of of million $X the of due change favorable about or larger had weather year conditions. favorable projects order first net million, tax, a gas some last work a quarter and
August between of Interest Riggs million $XX of $X a incremental Distler in acquisition non-cash with the increase associated million intangibles. amortization Our in expense nearly credit increased amounts including in and $X quarters, prices, quarters in expanded facility. million significant secured attribute which we to retail increased a between the Fuel costs due spike increase. loan of term to fuel primarily cost resulted
XX, outlined Moving our to the shaping we slide for results for some full-year view of items Centuri's XXXX.
indicated As and quarter, first-quarter full-year the is business of the indication seasonal previously, it's generally performing Centuri's not is lowest results. an and
Riggs since We are customer the Riggs the changes about has been due Overall, Distler. and anticipated begin million the acquisition specification new to excited with of that customers. half multiyear we chain combination growth is awards. backlog Distler. of and experience increased Linetec our work to existing in delayed are and continues both this Over wind XXX other anticipating some second XX% growth of on-tap to customers a has of But offshore work prospects supply the year support issues. of
shore of Gas to expect profit margins. utility have up modifications contract to projects and large work up ramp made We our our with
for move company in now slide beyond. guidance me XXXX Let and to our XX
in continue refreshed rates our benefit dollars. Arizona, customer and Operating growth, For Nevada. from $XXX deferred income we recoveries million will at $XXX be Southwest operations ongoing to in of amounts estimate utility previously will margin to Gas, net
during Investments compound be $XXX We of in growth will rate continue $XXX income estimate our million natural be XXXX. billion to at increasing $X X%. a to are through to base to to in X% gas billion to resulting distribution annual XXXX $X $X.X expected XXXX, COLI million and of $X.X million rate in
this with return for forward anticipate O&M XXXX, already to MountainWest, rate beyond. be per the be EBITDA less is subsidiary, track MountainWest, compound of and plus overlapping XXXX of in $XXX will reiterate strong We're a annual Adjusting XX% on utility Additionally, at equity in for plan and on a and At run million to and revenues integration operating X%. acquisition. XX%. XXXX growth we expected are cash we is in benefiting one-time million to to costs, integration flows EPS $XXX that X%, be our from targeted at from margin five-year will MountainWest than newer customer our our rate accretive
in in and revenues As three business, At growth next incremental Karen over billion identified facets to at $X.X growth the expect all the CapEx MountainWest acquired previously recently of discussed, at XXXX Distler. investment Centuri, Riggs we've driven billion, $XXX we years. especially to be million $X.XX by
normalized expect margins XX% this to transition are anticipated XX%. some potential cost during While separation incremental EBITDA to period, be we
rate For XX%. growth XXXX to to adjusted EBITDA X% annual XXXX, we are of an forecasting compound
XXXX me by overall, reaffirm that Let we conclude our saying guidance.
Before remarks. Q&A, over for we the turn the closing has to call Operator Karen some
