Latest news with #CenturiHoldings
Yahoo
2 days ago
- Business
- Yahoo
Centuri Holdings (CTRI) Surged This Week. Here is Why.
The share price of Centuri Holdings, Inc. (NYSE:CTRI) surged by 9.74% between May 29 and June 5, 2025, putting it among the Energy Stocks that Gained the Most This Week. Let's shed some light on the development. A close-up of an electrical power line with a bright blue sky in the background, highlighting the company's selection of electricity and natural gas services. Centuri Holdings, Inc. (NYSE:CTRI) is a strategic utility infrastructure services company that partners with regulated utilities to build and maintain the energy network that powers millions of homes and businesses across the United States and Canada. Centuri Holdings, Inc. (NYSE:CTRI) continues to surge after the company announced $350 million in new customer awards in late May, reflecting strong demand for the company's infrastructure solutions across North America. The awards span the United States and include work supporting electric and gas infrastructure modernization, water relocation, utility distribution, and renewables. This comes after Centuri Holdings had already announced nearly $490 million in multi-year customer awards earlier this year. The share price of Centuri Holdings, Inc. (NYSE:CTRI) has gained almost 23% over the last month. While we acknowledge the potential of CTRI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Centuri Holdings (CTRI) Surged This Week. Here is Why.
The share price of Centuri Holdings, Inc. (NYSE:CTRI) surged by 9.74% between May 29 and June 5, 2025, putting it among the Energy Stocks that Gained the Most This Week. Let's shed some light on the development. A close-up of an electrical power line with a bright blue sky in the background, highlighting the company's selection of electricity and natural gas services. Centuri Holdings, Inc. (NYSE:CTRI) is a strategic utility infrastructure services company that partners with regulated utilities to build and maintain the energy network that powers millions of homes and businesses across the United States and Canada. Centuri Holdings, Inc. (NYSE:CTRI) continues to surge after the company announced $350 million in new customer awards in late May, reflecting strong demand for the company's infrastructure solutions across North America. The awards span the United States and include work supporting electric and gas infrastructure modernization, water relocation, utility distribution, and renewables. This comes after Centuri Holdings had already announced nearly $490 million in multi-year customer awards earlier this year. The share price of Centuri Holdings, Inc. (NYSE:CTRI) has gained almost 23% over the last month. While we acknowledge the potential of CTRI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and Disclosure: None. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Business Wire
27-05-2025
- Business
- Business Wire
Centuri Announces $350 Million in New Awards Across the U.S.
PHOENIX--(BUSINESS WIRE)--Centuri Holdings, Inc. (NYSE: CTRI) ('Centuri' or the "Company"), a leading, North American utility infrastructure services company, today announced $350 million in new customer awards, reflecting strong demand for the company's infrastructure solutions across North America. The awards span the U.S. and include work in support of electric and gas infrastructure modernization, water relocation, utility distribution, and renewables. The awards encompass new customer work, along with significant expansion of contracts previously awarded. The scopes include 1) a major water relocation project in the Midwest, 2) two distinct awards for an electric utility customer in the Northeast, 3) a significant program of work for one of the largest utilities in the Southwest focused on metro excavation, 4) core gas distribution services, and 5) an award for complex infrastructure installations as part of a major renewable natural gas (RNG) scope of work. Today's announcement complements the previously announced $400 million in master service agreement (MSA) renewals shared on April 24. 'Centuri is a critical partner in delivering safe, reliable, and sustainable infrastructure solutions across North America,' said Centuri President and CEO Christian Brown. 'We continue to see increasing demand for our service offerings as our utility and energy customers work to upgrade aging infrastructure and meet increasing power demands. On behalf of our 8,600+ employees, we are proud to play an important role in meeting infrastructure needs across a complex and dynamic energy landscape.' Learn more about Centuri's capabilities at About Centuri Centuri Holdings, Inc. is a strategic utility infrastructure services company that partners with regulated utilities to build and maintain the energy network that powers millions of homes and businesses across the United States and Canada. Forward-Looking Statements This press release may contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can often be identified by the use of words such as 'will,' 'predict,' 'continue,' 'forecast,' 'expect,' 'believe,' 'anticipate,' 'outlook,' 'could,' 'target,' 'project,' 'intend,' 'plan,' 'seek,' 'estimate,' 'should,' 'may' and 'assume,' as well as variations of such words and similar expressions referring to the future. Forward-looking statements could include (without limitation) statements regarding our confidence in our prospects to deliver value for our stockholders as an independent standalone company and our expectation to continue to build on our track record of delivering consistent growth by serving our customers across the utility value chain. A number of important factors affecting the business and financial results of Centuri could cause actual results to differ materially from those stated in any forward-looking statements. These factors include, but are not limited to, capital market risks and the impact of general economic or industry conditions. Factors that could cause actual results to differ also include (without limitation) those discussed in Centuri's filings filed from time to time with the SEC. The statements in this press release are made as of the date of this press release, even if subsequently made available by Centuri on its website or otherwise. Centuri does not assume any obligation to update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
Business Insider
21-05-2025
- Business
- Business Insider
Centuri files to sell 9M shares of common stock for holders
Centuri Holdings (CTRI) announced the commencement of an underwritten secondary public offering of 9M shares of Centuri's common stock by Southwest Gas Holdings (SWX) as selling stockholder. Southwest Gas also expects to grant the underwriters a 30-day option to purchase up to an additional 1.35M shares of Centuri's common stock. In addition to the shares of Centuri's common stock sold in the Offering, Southwest Gas announced that Icahn Partners and Icahn Partners Master Fund LP, investment entities affiliated with Carl C. Icahn, will purchase an aggregate of $50M in shares of Centuri's common stock from Southwest Gas in a concurrent private placement at a price per share equal to the Offering price per share. The concurrent private placement is expected to close immediately following the closing of the Offering and is subject to the satisfaction or waiver of customary closing conditions, including the completion of the Offering. The sale of these shares will not be registered under the Securities Act of 1933, as amended. The closing of the Offering is not conditioned upon the closing of the concurrent private placement. Centuri is not selling any shares of common stock in the proposed Offering or the concurrent private placement and will not receive any proceeds from the sale of the shares being offered by Southwest Gas. J.P. Morgan, UBS Investment Bank and Wells Fargo Securities are acting as joint lead book-running managers for the proposed Offering. BofA Securities and Moelis & Company are acting as book-running managers for the proposed Offering.
Yahoo
13-05-2025
- Business
- Yahoo
Centuri Holdings Inc (CTRI) Q1 2025 Earnings Call Highlights: Strong Revenue Growth and ...
Revenue: $550.1 million, a 4.2% increase from Q1 2024. Gross Profit: $20.3 million, a 53.1% increase over the prior year period. Gross Profit Margin: 3.7%, up from 2.5% in Q1 2024. Net Loss: $17.9 million, improved from a net loss of $25.1 million in Q1 2024. Adjusted EBITDA: $24.2 million, approximately 20% higher than the prior year quarter. Adjusted EBITDA Margin: 4.4%, up from 3.8% in Q1 2024. US Gas Segment Revenue: $197.7 million, a decrease of 12.7% year-over-year. Canadian Gas Segment Revenue: $39.8 million, down 2.9% from the prior year period. Union Electric Segment Revenue: $175.5 million, a 7.1% increase year-over-year. Non-Union Electric Segment Revenue: $137.1 million, a 41.9% increase year-over-year. Net CapEx: $23.2 million, down from $24.6 million in the prior year period. Free Cash Flow Improvement: $44.6 million compared to Q1 2024. Net Debt to Adjusted EBITDA Ratio: Improved to 3.5 times from 3.6 times at the end of 2024. Cash and Cash Equivalents: $15.3 million at the end of the quarter. 2025 Revenue Outlook: Expected between $2.6 billion and $2.8 billion. 2025 Adjusted EBITDA Outlook: Between $240 million and $275 million. 2025 CapEx Forecast: Net spend between $65 million and $80 million. Warning! GuruFocus has detected 6 Warning Signs with MAC. Release Date: May 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Centuri Holdings Inc (NYSE:CTRI) experienced strong commercial momentum in Q1 2025, exceeding expectations. The company achieved a record booking quarter with new bookings totaling $1.2 billion, significantly increasing the backlog to $4.5 billion. The non-union electric segment showed a 41.9% increase in revenue year-over-year, with improved gross profit margins. Centuri Holdings Inc (NYSE:CTRI) is actively expanding its sales pipeline, now approaching $12 billion in revenue opportunities. The company maintains a positive outlook for 2025, expecting to deliver revenue at the upper end of the guidance range. The US gas segment faced a 12.7% year-over-year decrease in revenue due to adverse weather conditions. Gross profit margin in the US gas segment decreased to negative 7.5% in Q1 2025, impacted by weather disruptions. The company reported a net loss attributable to common stock of $17.9 million in Q1 2025. Offshore wind revenues in the Union Electric segment were down 64.1% as project work winds down. The company experienced a delay in the timing of its earnings announcement due to issues in finalizing financial statements. Q: Can you discuss the trajectory for 2025 and how you plan to reach the upper end of the revenue guidance despite a weaker Q1 in the US gas segment? A: Christian Brown, President and CEO, explained that the weather affected the gas business in January and February, but it bounced back in March and April. The company has work under contract and backlog pushing towards the upper end of guidance. All operating companies are on track to meet budget expectations, and the gas business is expected to recover fully. Q: What were the key findings from the strategic review, and what was most valuable from the process? A: Christian Brown highlighted four components: integrating a live sales pipeline across all operating companies, maximizing cross-selling opportunities, instilling a culture focused on identifying more work, and aligning KPIs with growth and profitability targets. Q: Regarding the US gas segment, is it a business that should generate a profit in Q1, and are there structural changes needed to achieve that? A: Christian Brown noted that weather impacts are unavoidable, but the company is working to build a pipeline of opportunities in states less affected by weather to become profitable earlier in the year. Greg Izenstark, CFO, added that Q1 is seasonally slow for the gas business, but they remain confident in full-year performance. Q: With a strong Q1 booking, should we expect lighter quarters ahead, and what is the visibility on bookings? A: Christian Brown stated that Q2 bookings remain strong, and the company is confident in achieving or exceeding the 1.1 times book-to-bill target for the year. While Q3 may be quieter, Q2 and Q4 are expected to be solid in bookings. Q: Can you clarify if the guidance includes the upper end of adjusted EBITDA, and how should we think about seasonality? A: Christian Brown confirmed that the bookings and backlog are pushing towards the upper end of revenue guidance, close to $2.8 billion. There is no expected margin erosion, and all businesses are showing strong performance for the rest of the year, with no further seasonality anticipated. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
