Centuri Secures Nearly $500 Million in New Commercial Awards Across North America

Key Terms

master service agreements financial

A master service agreement is a standing contract that sets the general terms, pricing rules and responsibilities for ongoing work between a business and a client or vendor, with individual projects added later under that framework. Think of it as a reusable blueprint that speeds up future deals and limits surprises about who pays for what and who is liable. Investors care because an MSA can make revenue more predictable, reduce legal risk, and signal easier scaling or renewal of business relationships.

substation technical

A substation is a fenced facility on the electricity network where equipment changes the voltage, routes power, and protects the grid so electricity can move safely and reliably from generation to homes and businesses. Investors care because substations are critical pieces of infrastructure: they affect service reliability, grid capacity and upgrade costs, and can influence the value and operating risk of utilities, real estate near outages, and companies in the energy supply chain.

Awards bring Centuri 2025 YTD bookings to over $4 billion

• Work represents diversified mix of Centuri’s core electric and gas capabilities
• Awards include new projects, Master Service Agreements (MSAs), and MSA renewals

PHOENIX--(BUSINESS WIRE)-- Centuri Holdings, Inc. (NYSE: CTRI) (“Centuri” or the "Company"), a leading, North American utility and energy infrastructure services company, today announced it has secured nearly $500 million in customer awards. Approximately 84% of the awards represent new work, including new strategic bid awards and new Master Service Agreements (MSAs), with the remaining 16% for renewal of existing customer MSAs. These awards utilize Centuri’s core electric and gas capabilities for utility and telecommunication clients in both the U.S. and Canada and bring the Company’s year-to-date bookings to approximately $4.3 billion.

Centuri core electric and gas capabilities enable the nation's energy infrastructure.

The new awards include a significant contract with an existing customer to deliver comprehensive natural gas distribution construction services across a large Midwest service territory, a multi-year pipeline replacement project in a major urban center, and a major substation upgrade for a utility client on the East Coast delivering essential infrastructure improvements to strengthen grid reliability and expand capacity for local communities. MSA renewals include a contract extension for a major customer in the Southwest focused on replacing aging high-pressure natural gas pipelines statewide and a partnership renewal with a Canadian customer to maintain and repair critical telecom infrastructure.

“These awards underscore the growth in our end markets and the confidence our customers place in us to deliver complex projects safely, on schedule, and in coordination with multiple stakeholders,” said Centuri President and CEO Christian Brown. “Our ongoing focus on strong project delivery and capital discipline, coupled with a diverse pipeline of future opportunities, position us well as we head into the new year with more than 90% of our 2026 plan under contract. We are committed to delivering high-quality solutions that advance critical power infrastructure while simultaneously executing for our shareholders.”

Learn more about Centuri’s capabilities at https://centuri.com.

About Centuri

Centuri Holdings, Inc. is a strategic utility and energy infrastructure services company that partners with regulated utilities and energy providers 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 may contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, 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. Forward-looking statements could include (without limitation) statements regarding our confidence that our ongoing focus on strong project delivery and capital discipline, together with a diverse pipeline of future growth options, position us well as we head into 2026. A number of important factors affecting the business and financial results of Centuri could cause actual results to differ materially from those stated in any forward-looking statements. These factors include, but are not limited to, capital market risks and the impact of general economic or industry conditions. 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 U.S. Securities and Exchange Commission. 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.

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For Centuri Shareholders, contact:

Nate Tetlow

(480) 851-8426

Ntetlow@centuri.com

For Centuri media information, contact:

Jennifer Russo

(602) 781-6958

JRusso@Centuri.com

Source: Centuri Holdings, Inc.