A master services agreement (MSA) is a standing contract that sets the main rules, prices, responsibilities and dispute processes for ongoing work between two businesses, while allowing separate, smaller work orders to be added over time. For investors it matters because an MSA can reduce uncertainty, speed up new deals, and cap costs or liabilities—effects that can make a company’s revenue more predictable and lower operational risk.
msasfinancial
MSAs are Master Services Agreements — broad contracts that set the general terms, pricing and responsibilities for ongoing work between a company and a customer or supplier. Investors care because MSAs act like a framework-level handshake: they don’t guarantee revenue by themselves but create a predictable road map for future deals, recurring income and cost structure, which helps assess a company’s revenue visibility and operational risk.
midstream energy infrastructuretechnical
Midstream energy infrastructure is the network of pipelines, storage tanks, compressor stations and processing facilities that move and hold oil, natural gas and other fuels between production sites and customers. Investors care because this infrastructure collects fees for transporting and storing energy regardless of commodity prices, acting like a toll road or warehouse that can provide steady cash flow and predictable returns even when raw energy markets are volatile.
transmission infrastructuretechnical
High-capacity networks of physical assets — such as high-voltage power lines, substations, fiber-optic cables and related switching facilities — that move electricity or data from producers to consumers and large users over long distances. Investors care because these assets are capital-intensive, long-lived and often operate under regulated pricing, so their condition, capacity and upgrades affect service reliability, revenue stability and the ability to support growth — like highways that determine how smoothly commerce can move.
book-to-billfinancial
The book-to-bill ratio compares new orders a company has received (bookings) to the products or services it has invoiced or shipped (billings) over the same period. It matters to investors because a ratio above 1 means demand is outpacing fulfillment and the company may grow revenue or build backlog, while a ratio below 1 suggests slowing demand and possible future revenue weakness — think of it as new customer orders versus what the company actually sold.
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PHOENIX--(BUSINESS WIRE)--
Centuri Holdings, Inc. (NYSE: CTRI) (“Centuri” or the "Company"), a leading, North American utility and energy infrastructure services company, today announced more than $300 million in new commercial awards. The bookings are with customers across the U.S. and Canada and represent a broad spectrum of Centuri’s capabilities across gas, electric, and general energy infrastructure services.
Centuri announces commercial awards in excess of $300M
New bid work and new or expanded Master Services Agreements (MSAs) comprise approximately 87% of the award value, with the remaining 13% representing renewals of existing MSAs with tenured customers. The mix of work includes MSA renewals for natural gas distribution infrastructure upgrades that include expanded scopes of work and crew growth with long-standing utility customers; a gas facility upgrade project; assembly and installation of key components benefiting a midstream energy infrastructure company; engineering and construction services in support of a transmission infrastructure project; and the procurement and construction of electrical infrastructure for the first phase of a wind farm project in Canada.
The company remains in active negotiations on approximately $400 million of further contract awards, which include data center-related scopes of work. The most recent awards, along with a robust opportunity pipeline, indicate that Centuri now expects a book-to-bill of approximately 1.2x for the year.
“We continue to experience strong commercial momentum, reflecting the trust we have earned from our customers and the reputation we have built in our core end markets,” said Centuri President and CEO Christian Brown. “We’re especially pleased to receive a new award through our recent Canadian acquisition, proving the combined strength of our joint capabilities to earn new opportunities in an expanding Canadian market. In general, the demand for new and upgraded infrastructure is unprecedented, and we are well positioned to deliver the value-added solutions our customers require while simultaneously creating long-term shareholder value through our Vision One Centuri.”
Today’s announced awards complement previous bookings, bringing the company’s total commercial awards for year-to-date 2026 to approximately $1.7 billion.
About Centuri
Centuri Holdings, Inc. is a strategic utility and energy infrastructure services company that partners with regulated utilities to build and maintain the energy network that powers millions of homes and businesses across the United States and Canada.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can often be identified by the use of words such as “will,” “predict,” “continue,” “forecast,” “expect,” “believe,” “anticipate,” “outlook,” “could,” “target,” “project,” “intend,” “plan,” “seek,” “estimate,” “should,” “may” and “assume,” as well as variations of such words and similar expressions referring to the future. The specific forward-looking statements made herein include (without limitation) statements regarding our ability to deliver increasing value for all our shareholders and the 2026 Centuri Annual Meeting of Shareholders. A number of important risks, uncertainties and other factors affecting the business and financial results of Centuri could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, capital market risks and the impact of general economic or industry conditions and those detailed from time to time in Centuri’s reports filed with the Securities and Exchange Commission (the “SEC”), including Item 1A. Risk Factors in our Annual Report on Form 10-K for the fiscal year ended December 28, 2025. Factors that could cause actual results to differ also include (without limitation) those discussed in Centuri’s filings filed from time to time with the SEC. The statements in this press release are (i) made as of the date of this press release, even if subsequently made available by Centuri on its website or otherwise, and (ii) based on assumptions and assessments made by our management in light of their experience and perceptions of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Except to the extent required by applicable law, Centuri does not assume any obligation to update or revise the forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise. You are cautioned not to place undue reliance on these forward-looking statements.
