Centuri secures $350 million in infrastructure contracts

PHOENIX - Centuri Holdings, Inc. (NYSE: CTRI), a prominent North American utility infrastructure services company with annual revenue of $2.66 billion, has announced a series of new customer awards totaling $350 million. According to InvestingPro data, the company maintains a healthy current ratio of 1.57, indicating strong ability to meet short-term obligations. The company’s latest contracts underscore a robust demand for infrastructure modernization across multiple sectors, including electric and gas utilities, water relocation, and renewable energy projects.

The newly secured contracts cover a diverse range of projects across the United States. These include a significant water relocation initiative in the Midwest, two separate contracts with an electric utility in the Northeast, a major excavation program with one of the largest utilities in the Southwest, as well as core gas distribution services. Additionally, Centuri has been awarded a contract for complex infrastructure installations related to a major renewable natural gas (RNG) initiative. This announcement follows the company’s recent disclosure on April 24 of $400 million in master service agreement renewals. InvestingPro analysts have recently revised their earnings expectations upward, with net income projected to grow this year. For deeper insights into Centuri’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

Centuri’s President and CEO, Christian Brown, expressed pride in the company’s role in addressing the growing infrastructure needs in a dynamic energy landscape. With over 8,600 employees, Centuri is positioned as a critical partner in delivering safe, reliable, and sustainable infrastructure solutions.

The company’s expanding portfolio and the significant contract awards reflect an ongoing trend of increased investment in infrastructure upgrades and expansions to meet rising power demands. Centuri’s capabilities in addressing these needs have positioned it as a strategic partner for regulated utilities in the United States and Canada.

While Centuri’s recent announcements reflect positive developments, with an EBITDA of $233 million in the last twelve months and a market capitalization of $1.65 billion, the press release also included forward-looking statements. Such statements are based on current expectations and projections about future events and are subject to risks, uncertainties, and changes in circumstances that could significantly affect actual outcomes. InvestingPro analysis shows the company currently trades at a high earnings multiple, though its Financial Health Score indicates fair overall performance.

Investors are advised to consider these factors, including market risks and the impact of economic or industry conditions, when evaluating Centuri’s prospects. More detailed information on these risks can be found in Centuri’s filings with the SEC. The company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made.

This report is based on a press release statement from Centuri Holdings, Inc.

In other recent news, Centuri Holdings, Inc. reported its Q1 2025 earnings, revealing a net loss per share of $0.12, which missed the forecasted loss of $0.10. Despite this, the company saw a 4.2% increase in revenues year-over-year, reaching $550.1 million. Additionally, Centuri’s gross profit margin improved to 3.7% from 2.5% in Q1 2024, with adjusted EBITDA rising by 20% year-over-year to $24.2 million. The company also maintains a strong booking backlog, with new bookings reaching $1.2 billion.

In other developments, Centuri Holdings has been involved in a secondary public offering initiated by Southwest Gas Holdings, Inc., involving 9 million shares of Centuri’s common stock. This offering includes an option for underwriters to purchase an additional 1.35 million shares. Concurrently, investment entities affiliated with Carl C. Icahn have agreed to acquire $50 million of Centuri’s common stock directly from Southwest Gas Holdings.

This private placement is contingent on the completion of the public offering. The transaction is being managed by J.P. Morgan, UBS Investment Bank, and Wells Fargo Securities among others. These recent developments highlight Centuri’s ongoing strategic initiatives and financial activities.

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