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NEW YORK - Centuri Holdings , Inc. (NYSE:CTRI) reported fourth quarter earnings that beat analyst estimates, but its stock fell over 5% as investors focused on the company’s 2025 outlook.
The energy infrastructure services provider posted adjusted earnings per share of $0.21, surpassing the consensus estimate of $0.19. Revenue for the quarter came in at $717.1 million, up 6% from $676.3 million in the same period last year.
Despite the earnings beat, Centuri’s shares dropped 5.2% following the release, as investors appeared concerned about potential risks and volatility in energy infrastructure investments.
For the full year 2025, Centuri forecasts revenue between $2.6 billion and $2.8 billion, compared to analysts’ expectations of $2.7 billion. The company also projects adjusted EBITDA of $240 million to $275 million.
"Today’s energy markets offer tremendous growth potential for Centuri with both existing and new customers," said Centuri President & CEO Chris Brown. "To capitalize on this potential, we have implemented a company-wide review of our business development activities to institutionalize a more structured approach to market positioning, cross selling, and further focus on building our sales pipeline and the awarding of new business."
The company’s fourth quarter results benefited from increased emergency restoration services, which drove a $46.7 million increase in revenues compared to the prior year. However, investors may be wary of the company’s dependence on storm restoration revenues, which are expected to normalize in the future.
Centuri’s backlog stood at $3.7 billion at the end of the fourth quarter, with 90% related to master service agreement revenue. The company anticipates securing new awards in the next twelve months that will deliver a book-to-bill ratio exceeding 1.1x.
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