Centuri Holdings (CTRI) Stock News

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.

Centuri Holdings (NYSE: CTRI) has announced a secondary public offering of 9.5 million shares of common stock by Southwest Gas Holdings. The underwriters will have a 30-day option to purchase an additional 1.425 million shares. Concurrent with the offering, Southwest Gas plans to sell $22 million worth of Centuri shares to Icahn Investors in a private placement, subject to HSR Act requirements 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 firms serving as book-running managers. Centuri will not receive any proceeds from either the public offering or private placement 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 9.5 million existing shares with an additional 30-day option for underwriters to purchase up to 1.425 million more shares. Additionally, SWX has agreed to sell $22 million worth of Centuri shares to Carl Icahn-affiliated investment entities in a concurrent private placement, subject to antitrust approvals and other conditions. The private placement must close by July 9, 2025, and will be priced equal to the public offering. The offering will be made through an effective shelf registration statement filed with the SEC, with the public offering not being contingent on the private placement's completion.

Centuri Holdings (NYSE: CTRI) has appointed Behzad Kazerani as Senior Vice President of Sales and Business Development for its U.S. Gas and Special Projects business. With over 30 years of experience in energy infrastructure, Kazerani will lead strategic sales efforts across Centuri's U.S. Gas operations. His role focuses on capturing market share, leveraging internal capabilities, and building on customer relationships that average 24+ years. Kazerani's background includes leadership positions at Petrofac, Wood, KBR, and most recently as Chief Business Development Officer at EnerMech. He holds a bachelor's degree in civil engineering, a PhD in Geotechnical Engineering, and is a Chartered Civil Engineer. The appointment aligns with Centuri's strategy to capitalize on accelerating demand for service offerings in global energy markets.

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.