Centuri Holdings Inc Stock Price, News & Analysis

Centuri (NYSE: CTRI) completed the acquisition of Connect Atlantic Utility Services (CAUS) on November 19, 2025, making Centuri a dual electric and gas services provider in Canada. The transaction expands Centuri’s geographic footprint into Atlantic Canada, with CAUS operating primarily in Nova Scotia, New Brunswick, and Newfoundland and Labrador.

CAUS supplies maintenance, construction, and storm services to electric utilities through a largely union workforce. Seale & Associates served as exclusive financial advisor and Bennett Jones LLP provided legal counsel. The companies cited Canada’s expected $2 trillion electricity-grid investment through 2050 as a market backdrop.

Centuri (NYSE: CTRI) priced an underwritten public offering of 7,441,860 shares of common stock with a 30-day underwriter option for an additional 1,116,279 shares. The Offering is expected to close on November 14, 2025, with gross proceeds of approximately $160 million assuming no option exercise.

Concurrently, investment entities affiliated with Carl C. Icahn will buy 3,488,372 shares in a private placement at the Offering price; that private placement is expected to close immediately after the Offering. Net proceeds are intended for general corporate purposes, including potential acquisitions and repayment of borrowings.

Centuri Holdings (NYSE: CTRI) announced an underwritten public offering of $160,000,000 of common stock with a 30‑day option for up to an additional $24,000,000. Concurrently, investment vehicles affiliated with Carl C. Icahn will purchase approximately $75,000,000 of common stock in a private placement at the offering price.

The company said net proceeds from the offering and private placement will be used for general corporate purposes, potentially including acquisitions and repayment of borrowings. A Form S‑3 registration statement has been declared effective by the SEC.

Centuri (NYSE: CTRI) announced the appointment of Dustin DeMaria, a Senior Analyst at Icahn Enterprises, to its Board of Directors effective November 11, 2025, under a Director Appointment and Nomination Agreement with Icahn Enterprises (IEP).

DeMaria will serve as an independent director, stand for election at Centuri’s 2026 Annual Meeting, and is included on the company’s recommended slate. The board expands to eight members, six independent. The agreement includes customary standstill and voting commitments and will be filed on a Form 8-K with the SEC.

Centuri (NYSE: CTRI) reported record Q3 2025 revenue of $850.0M, up 18.1% year-over-year, and consolidated gross profit of $78.0M. Net income attributable to common stock was $2.1M (diluted EPS $0.02) versus a loss in Q3 2024. Management introduced base non-GAAP metrics excluding storm restoration: Base Revenue was $848.6M (+25% YoY) and Base Gross Profit was $77.6M (+28% YoY) with a Base Gross Profit Margin of 9.1%. Adjusted EBITDA was $75.2M. Bookings in Q3 were $815M, backlog reached $5.9B (+59% from year-end 2024), and net debt to Adjusted EBITDA was 3.8x. Centuri updated 2025 guidance to revenue $2.8–2.9B and Adjusted EBITDA $240–250M, and completed debt refinancing and separation from Southwest Gas Holdings.

Centuri Holdings (NYSE: CTRI) will report third quarter 2025 financial results on Wednesday, November 5, 2025. The company will host an earnings conference call on that morning at 10:00 AM ET / 7:00 AM PT to discuss results and business highlights.

Speakers listed for the call are Christian Brown, President & Chief Executive Officer, and Gregory Izenstark, Chief Financial Officer. The call will be webcast live on Centuri’s investor relations website and will be archived there. A telephone replay will be available by dialing the provided replay number with passcode for one month starting about one hour after the call ends.

Centuri Holdings (NYSE: CTRI) announced on October 15, 2025 the appointment of Ryan Palazzo as President, U.S. Gas. He will lead Centuri’s U.S. Gas segment, which the company says comprises approximately half of total revenue, and will drive long-term strategic planning and market expansion for gas infrastructure services.

Mr. Palazzo brings more than 30 years of pipeline and energy infrastructure experience and has held leadership roles at U.S. Pipeline, CH2M Hill, El Paso Corporation, and most recently as President, Pipeline Group at Primoris. Management cites his track record supporting Centuri’s focus on top-tier earnings growth and delivering shareholder value.

Centuri Holdings (NYSE:CTRI) has secured nearly $400 million in new customer awards across the United States, demonstrating strong market expansion in utility and energy sectors. The awards comprise approximately 70% in new project awards and a new MSA, with the remainder representing MSA renewal.

Key projects include a significant steel pipe replacement project in the Midwest addressing PHMSA Gas Mega Rule compliance, a multi-year natural gas distribution contract in New England, data center power infrastructure support, and a clean energy project featuring an MVR system for ethanol plant upgrades. These awards follow previously announced $300 million in awards from August 27.

Centuri Holdings (NYSE:CTRI) has completed its separation from Southwest Gas Holdings following Southwest Gas' sale of its remaining 27,362,210 shares of Centuri's common stock on September 5, 2025. The company did not receive any proceeds from this transaction.

Following this ownership exit, Christopher Krummel has been appointed as the new Board Chair, replacing Karen Haller, who will remain on the Board but has stepped down from the compensation committee. Mr. Krummel, who brings over 30 years of financial executive experience in energy and construction, has served on Centuri's Board since its 2024 IPO.

As a fully independent public company, Centuri aims to focus on predictable earnings growth, execution, and capital efficiency in its core gas and electric utility infrastructure services business.