Centuri Holdings, Inc.
- Open
- 21.06
- Day high
- 21.30
- Day low
- 20.59
- Prev close
- 20.79
- Volume
- 139K
- Mkt cap
- $2.1B
- P/E (TTM)
- 66.3
- EPS (TTM)
- $0.31
- P/B
- 2.4
- P/S
- 0.6
- Yield
- —
- Per share
- —
Centuri Holdings, Inc. (CTRI) is a Utilities company listed on NYSE. The stock is up 6% over the past year. Drillr has 1 published research article covering CTRI.
Centuri Holdings, Inc. (CTRI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CTRI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 4, 2026 | $0.21 | $0.24 | +14.0% | $962M | +15.1% |
| May 7, 2026 | $-0.05 | $-0.02 | +60.0% | $723M | +16.9% |
| Feb 25, 2026 | $0.20 | $0.17 | -15.0% | $761M | +23.2% |
| Nov 5, 2025 | $0.32 | $0.19 | -40.6% | $850M | +14.8% |
| Aug 6, 2025 | $0.21 | $0.19 | -9.5% | $724M | -4.8% |
| Feb 26, 2025 | $0.18 | $0.21 | +16.7% | $717M | +29.4% |
| Apr 19, 2024 | — | $-2.23 | — | $665M | — |
| Sep 29, 2023 | — | $0.19 | — | $775M | — |
CTRI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 19, 2026 | Hunter Danielle E.officer: See Remarks | Grant | 20,193 | — |
| Aug 19, 2026 | Youngblood Kellyofficer: See Remarks | Grant | 85,401 | — |
| Aug 19, 2026 | Hunter Danielle E.officer: See Remarks | Grant | 10,517 | — |
| Aug 12, 2026 | Hunter Danielle E.officer: See Remarks | Grant | 16,967 | — |
| Aug 12, 2026 | Hunter Danielle E.officer: See Remarks | Grant | 8,837 | — |
| Aug 12, 2026 | Youngblood Kellyofficer: See Remarks | Grant | 72,864 | — |
| May 20, 2026 | Krummel Christopher Adirector | Option | 7,338 | — |
| May 20, 2026 | Evans Andrew Wdirector | Option | 7,338 | — |
| May 20, 2026 | Evans Andrew Wdirector | Grant | 4,067 | — |
| May 20, 2026 | MARIUCCI ANNE Ldirector | Option | 7,338 | — |
| May 20, 2026 | MARIUCCI ANNE Ldirector | Grant | 4,067 | — |
| May 20, 2026 | Patton Charles R.director | Option | 7,338 | — |
| May 20, 2026 | Dill Juliedirector | Grant | 4,067 | — |
| May 20, 2026 | Dill Juliedirector | Option | 7,338 | — |
| May 20, 2026 | Krummel Christopher Adirector | Grant | 4,067 | — |
Source: CTRI SEC Form 4 filings, latest Aug 19, 2026. For informational purposes only — not investment advice.
See the full CTRI insider & 13F page →Centuri Holdings, Inc. company profile
Overview
Centuri Holdings, Inc. (NYSE:CTRI) is a utility infrastructure services company founded in 1909 and headquartered in Phoenix, Arizona. The company operates as a subsidiary of Southwest Gas Holdings, Inc. and provides essential maintenance, repair, and installation services for natural gas and electric utility infrastructure across North America. With over a century of experience in the utilities sector, Centuri has established itself as a key contractor serving electric and gas utility providers throughout the United States and Canada, focusing on the critical modernization and maintenance of aging utility infrastructure systems.
Business
Centuri operates in the utility infrastructure services industry, which involves the specialized construction, maintenance, and modernization of essential energy delivery systems. The company's core business revolves around providing outsourced field services to utility companies that need to maintain and upgrade their physical infrastructure networks. The company operates through four distinct business segments. U.S. Gas Utility Services represents the largest portion of operations, focusing on natural gas distribution infrastructure including pipeline installation, maintenance, replacement, and repair services for local gas utilities. This segment serves the critical need for modernizing aging natural gas distribution systems across American cities and towns. Canadian Gas Utility Services provides similar gas infrastructure services but operates under different regulatory frameworks in the Canadian market. The Union Electric Utility Services segment focuses on electrical infrastructure work performed by unionized labor forces, including maintenance, replacement, repair, upgrade, and expansion of urban transmission lines and local distribution networks. Meanwhile, the Non-Union Electric Utility Services segment provides similar electrical infrastructure services but utilizes non-unionized workforce arrangements. Beyond traditional utility work, Centuri also serves emerging markets including renewable energy installations, data center infrastructure development, and 5G telecommunications infrastructure deployment. These newer service areas represent growth opportunities as utilities and technology companies expand their physical infrastructure to support digital transformation and clean energy transitions.
Revenue model
Centuri generates revenue primarily through service contracts with utility companies, operating on a business-to-business model where electric and gas utilities outsource their infrastructure maintenance and construction needs. The company typically works under multi-year master service agreements or project-specific contracts, earning revenue through labor hours, equipment usage, and material markups. The company's customers are primarily regulated utility providers including electric companies, natural gas distribution utilities, and combination utility providers that serve both gas and electric customers. These utilities prefer to outsource specialized infrastructure work rather than maintain large in-house construction crews, as it allows them to access specialized expertise while converting fixed labor costs into variable project costs. Revenue generation is influenced by several key factors. Regulatory mandates for pipeline safety and grid modernization drive consistent demand, as utilities must comply with federal and state infrastructure standards. Aging infrastructure across North America creates ongoing replacement needs, particularly for natural gas pipelines installed decades ago. Weather patterns can significantly impact quarterly results, as severe weather events create emergency repair demand while harsh winter conditions can limit construction activity. Labor costs and availability represent major margin factors, as skilled utility workers command premium wages and labor shortages can pressure profitability. Material costs, particularly for specialized utility equipment and pipes, directly impact project margins. Competition from other utility contractors can pressure pricing, while utility capital spending cycles influence overall demand levels. The company's margins also depend on project mix, as emergency repair work typically commands higher rates than routine maintenance contracts.
Competitive moat
Centuri's competitive position relies on several defensive characteristics, though its moat appears relatively narrow. The company benefits from high switching costs once established with utility customers, as utilities prefer working with proven contractors who understand their specific systems and regulatory requirements. Building relationships with regulated utilities takes time and requires demonstrating safety records, technical competency, and regulatory compliance. The company possesses specialized expertise in utility infrastructure work, which requires specific certifications, safety training, and technical knowledge that creates barriers for new entrants. Utility work also demands significant upfront investments in specialized equipment, vehicles, and safety systems. Geographic presence provides some defensive value, as utilities prefer contractors with local operations who can respond quickly to emergencies and routine maintenance needs. However, Centuri's moat faces several vulnerabilities. The utility contracting industry remains highly fragmented with numerous regional competitors capable of bidding on similar work. Low barriers to entry exist for basic maintenance services, and larger construction companies can enter utility markets during economic downturns. The company lacks significant proprietary technology or unique processes that would differentiate its services. Most concerning, Centuri operates as a cost-plus contractor rather than a technology innovator, making it vulnerable to pricing pressure and margin compression. Utilities increasingly focus on cost reduction and may bring work in-house or switch contractors based primarily on pricing. The company's dependence on its parent company Southwest Gas Holdings also creates potential conflicts of interest and limits strategic flexibility.
Risks & safety
Centuri presents moderate financial risk with concerning profitability trends and elevated debt levels. • Cash and liquidity: $15.3 million cash with $529 million in current assets versus $340 million current liabilities, providing adequate short-term liquidity • Debt burden: Debt-to-equity ratio of 0.49x appears manageable, though total liabilities of $1.45 billion against $541 million equity shows high leverage • Profitability concerns: Negative net income of -$17.9 million in Q1 2025 and full-year 2024 loss of -$6.8 million indicate operational challenges • Cash flow: Positive operating cash flow of $158 million in 2024 with free cash flow of $59 million shows ability to generate cash despite losses • Valuation metrics: Trading at 3.1x book value with negative EV/EBITDA due to minimal EBITDA generation • Solvency risk: Current ratio of 1.57x provides modest cushion, but negative EBITDA of -$6 million in Q1 2025 raises concerns about operational efficiency
Recent development
Based on available financial data, Centuri appears to be navigating significant operational challenges while positioning for infrastructure modernization opportunities. The company has experienced volatile profitability with substantial losses in 2022 and 2023 (-$168 million and -$186 million respectively) before improving to a smaller loss of -$6.8 million in 2024. Revenue performance shows mixed trends, declining from $2.9 billion in 2023 to $2.6 billion in 2024, suggesting either market pressures or strategic repositioning. However, the company maintained positive operating cash flow generation throughout this period, indicating underlying operational strength despite reported losses. The company's EBITDA performance has shown improvement, rising from $67.5 million in 2022 to $241.5 million in 2024, suggesting better operational efficiency and cost management. This improvement occurred despite revenue decline, indicating successful margin expansion initiatives. Recent quarterly results show continued operational challenges with Q1 2025 posting negative EBITDA of -$6 million, though this may reflect typical seasonal patterns in utility construction work. The company's focus appears to be on improving operational efficiency while positioning for growth in emerging markets including renewable energy infrastructure and data center construction projects.
CTRI company profile · for informational purposes only — not investment advice.
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