Welcome to our dedicated page for Centuri Holdings news (Ticker: CTRI), a resource for investors and traders seeking the latest updates and insights on Centuri Holdings stock.
Centuri Holdings Inc (CTRI) delivers essential utility infrastructure services across North America, specializing in modernizing energy networks for gas and electric utilities. This dedicated news hub provides investors and industry professionals with centralized access to official company announcements and developments.
Track critical updates including quarterly earnings reports, major infrastructure contracts, and strategic modernization initiatives. Our curated feed ensures you stay informed about regulatory compliance milestones, partnership expansions, and operational advancements in both gas distribution and electric grid services.
Key focus areas include updates on:
- Long-term maintenance contracts with regulated utilities
- Grid modernization projects supporting energy transition efforts
- Safety and efficiency upgrades across service territories
- Strategic partnerships enhancing infrastructure reliability
Bookmark this page for real-time access to CTRI's latest operational developments and regulatory filings. For comprehensive analysis of utility sector trends and infrastructure investment considerations, consult your financial advisor.
Centuri Holdings (NYSE: CTRI) has secured $350 million in new customer awards across multiple utility and energy sectors in the United States. The awards include a major water relocation project in the Midwest, two electric utility projects in the Northeast, metro excavation work for a major Southwest utility, core gas distribution services, and complex infrastructure installations for renewable natural gas (RNG).
This announcement follows the previously disclosed $400 million in master service agreement (MSA) renewals from April 24. The new contracts demonstrate strong demand for Centuri's infrastructure modernization services across North America, where the company employs over 8,600 people to deliver safe, reliable, and sustainable infrastructure solutions.
Southwest Gas Holdings (NYSE: SWX) has completed its secondary public offering of Centuri Holdings (NYSE: CTRI) common stock, selling 10.35 million shares at $17.50 per share. Additionally, Icahn Partners purchased 2.86 million shares through a private placement at the same price. The company received approximately $175 million in net proceeds from the offering and $50 million from the private placement, totaling $225 million. The proceeds will be used to repay outstanding debt. After these transactions, Southwest Gas Holdings maintains a 65.9% ownership stake in Centuri.
Centuri Holdings (NYSE: CTRI) has announced a secondary public offering where Southwest Gas Holdings will sell 9,000,000 shares of Centuri's common stock. The underwriters will have a 30-day option to purchase an additional 1,350,000 shares. Additionally, Carl C. Icahn-affiliated investment entities will purchase $50 million worth of Centuri shares from Southwest Gas in a concurrent private placement at the same price as the offering.
J.P. Morgan, UBS Investment Bank, and Wells Fargo Securities are serving as joint lead book-running managers, with BofA Securities and Moelis & Company acting as book-running managers. Centuri will not receive any proceeds from the offering as it is not selling any shares.
Southwest Gas Holdings (NYSE: SWX) has announced a secondary public offering of Centuri Holdings (NYSE: CTRI) common stock, offering 9,000,000 existing shares with an option for underwriters to purchase an additional 1,350,000 shares. Additionally, Icahn Partners and Icahn Partners Master Fund LP, affiliated with Carl C. Icahn, will purchase $50 million worth of Centuri shares in a concurrent private placement at the same price as the public offering.
The private placement is expected to close immediately after the public offering, subject to customary conditions. The offering will be made through an effective shelf registration statement filed with the SEC, with a preliminary prospectus supplement to be filed.
["Potential significant cash influx from the sale of 9 million shares plus possible 1.35 million additional shares", "Secured $50 million private placement deal with Icahn Partners", "Strategic divestment aligns with company's portfolio optimization"]Centuri Holdings (NYSE: CTRI) has rescheduled its first quarter 2025 earnings release and conference call from May 7 to Monday, May 12, 2025. The conference call will be held at 10:00 AM ET / 7:00 AM PT and will be accessible via webcast on the company's IR website or by telephone at (800) 549-8228.
Importantly, Centuri has affirmed its full year 2025 outlook, which includes:
- Revenue projection of $2.60 to $2.80 billion
- Adjusted EBITDA of $240 to $275 million
- Net capital expenditures of $65 to $80 million
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