Centuri Holdings Inc Stock Price, News & Analysis

Centuri Holdings (NYSE:CTRI) reported Q2 2025 results with revenue increasing 7.7% to $724.1 million compared to Q2 2024. Net income decreased to $8.1 million ($0.09 per share) from $11.7 million ($0.14 per share) year-over-year. The company achieved strong bookings of $1.8 billion in Q2, contributing to a book-to-bill ratio of 2.3x in H1 2025.

Notable segment performance included revenue growth in Canadian Gas (+18.1%), Union Electric (+11.0%), and Non-Union Electric (+24.4%), while U.S. Gas slightly declined (-1.1%). The company raised its full-year 2025 revenue guidance to $2.70-2.85 billion from $2.60-2.80 billion and narrowed Adjusted EBITDA outlook to $250-270 million.

Post quarter-end, Centuri enhanced its financial flexibility by expanding its credit facility to $450 million and extending debt maturities to 2030 and 2032.

Southwest Gas Holdings (NYSE: SWX) reported Q2 2025 financial results, highlighting significant operational and financial developments. The company recorded a Q2 net loss of $12.9 million, compared to net income of $18.3 million in Q2 2024, primarily due to tax impacts from Centuri stock sales. However, adjusted net income increased 71% to $38.6 million.

Key highlights include: $470 million debt reduction through Centuri follow-on offerings, improved utility ROE to 8.3%, and regulatory progress in Arizona and Nevada. The company's Great Basin Gas Transmission expansion project saw increased demand to 1.76 Bcf per day. Southwest Gas added 40,000 new meter sets, achieving 1.8% customer growth, and maintained strong liquidity with $356 million in cash and over $1.0 billion in available funds.

[ "Debt reduction of $470 million through successful Centuri follow-on offerings", "Utility ROE improved to 8.3% over trailing 12 months", "Natural Gas Distribution earnings grew 22% over Q2 2024", "Customer base expanded by 40,000 new meter sets (1.8% growth)", "Great Basin Gas Transmission project demand increased to 1.76 Bcf per day", "Strong liquidity position with $356M cash and over $1B available", "Adjusted net income increased 71% year-over-year to $38.6M" ]

Centuri Holdings (NYSE:CTRI), a North American utility infrastructure services company, has scheduled its 2025 second quarter earnings release for August 6th, 2025. The company will host a conference call at 10:00 AM ET / 7:00 AM PT featuring CEO Christian Brown and CFO Gregory Izenstark.

Investors can access the call via webcast on the company's IR website at investor.centuri.com or by dialing (800) 549-8228. A replay will be available for one month by calling (888) 660-6264 with passcode 29657#.

Centuri Holdings (NYSE:CTRI), a North American utility infrastructure services company, has appointed Jason Lentz as Senior Vice President of Fleet and Procurement, effective August 11. Lentz will oversee the company's fleet and sourcing strategy, managing over $1 billion in fleet assets across its operating companies.

Lentz brings nearly 30 years of experience in energy and construction sectors, most recently serving as Vice President of Supply Chain at Michels Corporation, where he managed 17,000 fleet assets globally. His appointment aligns with Centuri's strategy to optimize capital allocation through balanced ownership and leasing approaches.

Centuri Holdings (NYSE:CTRI) has secured over $550 million in new customer awards, demonstrating significant growth in its utility infrastructure services business. The awards include a major multi-year contract renewal with one of the largest regulated combination utilities in the U.S., along with strategic expansion into adjacent territories.

The company will also construct a Renewable Natural Gas facility in the Northeast - their fourth such project for their union electric division. This announcement follows closely after $575 million in awards announced on June 23, 2025, bringing their recent total contract awards to over $1.1 billion.

Centuri Holdings announced over $575 million in new customer awards for utility infrastructure services across the United States. The awards primarily include a significant multi-year contract renewal with a Midwest natural gas utility customer for gas distribution, transmission, and storage work. Additional projects involve the construction of utility-scale transmission lines, including a 115kV line in the East and a 28-mile, 345kV line in the West. This announcement follows previously secured awards worth $350 million announced on May 27, 2025. The company's CEO Christian Brown emphasized that these awards demonstrate their reputation for quality, safety, and skilled craftsmanship in delivering reliable and sustainable infrastructure solutions.

Southwest Gas Holdings (NYSE: SWX) has completed a secondary public offering of Centuri Holdings (NYSE: CTRI) common stock, selling 11,212,500 shares at $20.75 per share, including the full exercise of underwriters' over-allotment option. The company received approximately $225 million in net proceeds from the offering. Additionally, SWX has agreed to sell 1,060,240 shares to Icahn-affiliated investors in a private placement at the same price, expected to generate about $22 million in additional proceeds. After the offering, SWX retains approximately 53.3% ownership of Centuri, which would decrease to 52.1% following the Icahn private placement. The company plans to use all proceeds for debt repayment. The offering was managed by multiple financial institutions, led by J.P. Morgan and Wells Fargo Securities.

Southwest Gas Holdings (NYSE: SWX) has priced its upsized secondary public offering of Centuri Holdings (NYSE: CTRI) common stock at $20.75 per share. The offering size was increased to 9.75 million shares from the originally proposed 9.5 million shares, with an additional 30-day option for underwriters to purchase up to 1.46 million more shares. The offering is expected to close on June 18, 2025. Additionally, Southwest Gas Holdings plans to sell $22 million worth of Centuri shares to Carl Icahn-affiliated investment entities in a concurrent private placement at the same price per share, subject to antitrust approvals and other conditions. The private placement must close by July 9, 2025, or it will terminate. J.P. Morgan and Wells Fargo Securities are leading the offering as joint book-running managers, with several other financial institutions participating in various roles.

Centuri Holdings (NYSE: CTRI) has announced the pricing of an upsized secondary public offering of 9.75 million shares of common stock by Southwest Gas Holdings. The offering size was increased from the originally proposed 9.5 million shares, with underwriters having a 30-day option to purchase an additional 1.46 million shares. Additionally, Southwest Gas has agreed to sell $22 million worth of Centuri shares to Carl Icahn-affiliated investment entities in a concurrent private placement at the same price as the public offering. The private placement must close by July 9, 2025, and is subject to antitrust approvals. J.P. Morgan and Wells Fargo Securities are leading the offering as joint book-running managers, with several other firms participating. Centuri will not receive any proceeds from either the public offering or private placement, as all shares are being sold by Southwest Gas.