Here are the 10-Q quarterly reports from Centuri Holdings, Inc. (CTRI) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CTRI and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CTRI filings page.
Centuri Holdings, Inc. (CTRI) reported fiscal third-quarter revenue of $1,192.0 million for the 13 weeks ended September 27, 2026, compared with $850.0 million a year earlier; net income attributable to common stock was $26.9 million versus $2.1 million. For the first nine fiscal months, revenue was $2,877.2 million and net income attributable to common stock was $23.4 million, compared with $2,124.2 million and a $7.8 million loss, respectively.
Operating activities used $42.6 million of cash in the first nine months, compared with $5.8 million in the same period of 2025. A $9.0 million revenue reversal on a legacy contract in the second quarter reduced net income by $6.7 million. Fuel, labor and material costs also negatively affected results where cost recovery did not fully offset increases.
Centuri completed the July 20, 2026 acquisition of JJ White for estimated total cash consideration of $58.0 million; JJ White's post-acquisition results through September 27 included $86.4 million in revenue and $3.9 million in net income attributable to common stock, reflecting preliminary purchase accounting adjustments subject to revision. Backlog was approximately $6.2 billion as of September 27, 2026, with approximately 81% related to master service agreements.
Centuri Holdings, Inc. reported fiscal Q2 2026 total revenue, net of $961,986 (in thousands), up 32.9% year over year, and first-half revenue of $1,685,160 (in thousands). Growth was broad-based across U.S. Gas, Canadian Operations (including the Connect acquisition), and Union Electric.
Gross margin narrowed to 7.2% as U.S. Gas absorbed a $9,000 (in thousands) revenue reversal on a legacy City of Chicago contract under ASC 606, higher fuel costs, and ramp-up expenses. Net income attributable to common stock was $6,099 (in thousands), or $0.06 per diluted share, with a first-half net loss of $3,428 (in thousands), or $(0.03) per share.
Cash and cash equivalents declined to $40,458 (in thousands) as operating activities used $15,012 (in thousands) and capital expenditures reached $48,147 (in thousands). Centuri fully utilized its $165.0 million accounts receivable securitization facility, ended the quarter with total long-term debt of $727,718 (in thousands), reported backlog of approximately $6.4 billion, and on July 20, 2026 completed the acquisition of JJ White, Inc. for about $62.0 million.
Centuri Holdings, Inc. reported strong top-line growth but remained loss-making for the fiscal quarter ended March 29, 2026. Revenue rose to $723.2 million from $550.1 million, driven by higher volumes in U.S. Gas, continued expansion in electric segments, and the Canadian Connect acquisition.
Gross profit nearly doubled to $35.8 million, and the operating loss narrowed to $4.7 million from $12.7 million, helped by better crew productivity and overhead absorption, particularly in U.S. Gas and Union Electric. Net loss improved to $9.5 million (basic and diluted loss per share of $0.09) compared with a $17.9 million loss, while Adjusted EBITDA increased to $32.6 million, a 4.5% margin.
Operating cash flow swung to an outflow of $35.0 million, largely from working capital movements, with cash and cash equivalents at $60.3 million and total long-term debt at about $739.0 million. Centuri utilized a $125.0 million accounts receivable securitization facility (later amended to $165.0 million) and remained in compliance with leverage and interest coverage covenants. Backlog was approximately $6.5 billion, about 85% tied to master service agreements, supporting future revenue visibility.
Centuri Holdings (CTRI) reported Q3 results. Total revenue was $850.0 million versus $720.1 million a year ago, while net income was $2.1 million (diluted EPS $0.02). Operating income was $36.3 million, with interest expense at $26.2 million. The effective tax rate was 78.9%.
By segment, revenue reached $412.4 million in U.S. Gas, $74.2 million in Canadian Gas, $214.5 million in Union Electric, and $149.0 million in Non-Union Electric. For the first nine months, the company recorded a $7.8 million net loss.
Centuri refinanced its credit facilities on July 9, 2025: a new $800 million term loan (maturing 2032) and an upsized $450 million revolver (maturing 2030); weighted average rates were 6.57% (term) and 6.53% (revolver). Borrowings outstanding under the agreement were $0.9 billion, with $297.8 million of revolver capacity available as of September 28, 2025.
Contract assets rose to $418.8 million (including $43.3 million of claims/change orders). The accounts receivable securitization had $125.0 million sold and derecognized. Cash from operations for the nine months was $(5.8) million, capital expenditures $68.7 million, and cash and equivalents $16.1 million. Southwest Gas fully exited its ownership on September 5, 2025.