Centuri Secures Over $300 Million in New Commercial Awards
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master service agreementsfinancial
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.
Company Year-to-Date Bookings Now Exceed $1B
Highlights
Work leverages Centuri’s core capabilities in support of nationwide, utility-led initiatives to modernize natural gas systems
Awards include expansion into a major geographic area in the U.S. with a long-standing customer
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 more than $300 million in commercial awards, bringing year-to-date bookings to over $1 billion. The awards expand existing customer relationships across North America and support capital investments in utility infrastructure.
Centuri crews are advancing safety-driven pipe replacement programs across North America.
Approximately 67percent of the awards are for new work, including new strategic bid awards, with the remaining 33 percent for renewals of existing customer Master Service Agreements (MSAs). The work spans modernization of natural gas distribution infrastructure across the Midwest and Northeast, including securing a new major geographic area with a longstanding North American utility client. Additional awards include replacement of cast iron pipe in a populated urban center on behalf of an existing customer, an MSA renewal to support state-approved infrastructure modernization for a multi-decade client, and new industrial project work for an electric generation and transmission cooperative in the Midwest.
“We’re starting the year strong, achieving over $1 billion in bookings with a continued focus on strong project delivery and work execution,” said Centuri President and CEO Christian Brown. “Our most recent awards are a continued testament to the comprehensive capabilities, reputation, and scale that differentiate Centuri as a trusted partner to our utility and energy clients.”
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 in 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.
