Centuri Holdings Q4 Earnings Beat Expectations with Strong Revenue Growth
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 25 2026
0mins
Should l Buy CTRI?
Source: seekingalpha
- Earnings Highlights: Centuri Holdings reported a Q4 non-GAAP EPS of $0.17, missing expectations by $0.02, yet achieved revenue of $858.6 million, a 19.7% year-over-year increase, exceeding market expectations by $117.98 million, indicating robust market demand.
- Cash Flow Performance: The company generated $83.9 million in cash flow from operations and $105.7 million in free cash flow in Q4, demonstrating improved operational efficiency that supports future investments and expansion.
- Record Annual Bookings: Centuri recorded $4.5 billion in annual bookings for 2023, with 55% from new awards and 45% from existing contract renewals, showcasing the company's competitive strength and customer loyalty in the market.
- Future Financial Guidance: The company anticipates base revenue for 2026 to range between $3.15 billion and $3.45 billion, with adjusted EBITDA expected to be between $280 million and $310 million, reflecting management's confidence in future growth despite challenges from unpredictable storm restoration services.
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Analyst Views on CTRI
Wall Street analysts forecast CTRI stock price to fall
6 Analyst Rating
3 Buy
1 Hold
2 Sell
Hold
Current: 29.870
Low
22.00
Averages
27.40
High
34.00
Current: 29.870
Low
22.00
Averages
27.40
High
34.00
About CTRI
Centuri Holdings, Inc. is a 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. The Company's segments include U.S. Gas Utility Services (U.S. Gas), Canadian Gas Utility Services (Canadian Gas), Union Electric Utility Services (Union Electric), and Non-Union Electric Utility Services (Non-Union Electric). The U.S. Gas and Canadian Gas segments provide comprehensive services, including maintenance, replacement, repair and installation for local natural gas distribution utilities (LDCs) focused on the modernization of customers’ infrastructure throughout the United States and Canada. The Union Electric segment provides a comprehensive set of electric utility services encompassing maintenance, replacement, repair, upgrade and expansion services for urban transmission and local distribution infrastructure within union markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Ownership Proportion: Following this acquisition, Icahn's fund now holds 49.1% of its reportable U.S. equity in Icahn Enterprises, marking it as the largest position among its 13 holdings, which underscores the importance of this investment.
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- Order and Backlog Status: The company reported bookings exceeding $4.5 billion for the year, with a book-to-bill ratio of 1.5x, and a year-end backlog of approximately $5.9 billion, an increase of $2.2 billion from last year, highlighting significant future growth potential.
- Margin Improvement: For Q4, base revenue was $855 million with a gross profit margin of 9.4%, and the company expects to continue enhancing margins in 2026 through improved operational efficiency and fleet management.
- Future Outlook: Management anticipates base revenue for 2026 to range between $3.15 billion and $3.45 billion, with adjusted net income targets of $55 million to $75 million, demonstrating confidence in sustained growth and market opportunities.
See More
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- Earnings Highlights: Centuri Holdings reported a Q4 non-GAAP EPS of $0.17, missing expectations by $0.02, yet achieved revenue of $858.6 million, a 19.7% year-over-year increase, exceeding market expectations by $117.98 million, indicating robust market demand.
- Cash Flow Performance: The company generated $83.9 million in cash flow from operations and $105.7 million in free cash flow in Q4, demonstrating improved operational efficiency that supports future investments and expansion.
- Record Annual Bookings: Centuri recorded $4.5 billion in annual bookings for 2023, with 55% from new awards and 45% from existing contract renewals, showcasing the company's competitive strength and customer loyalty in the market.
- Future Financial Guidance: The company anticipates base revenue for 2026 to range between $3.15 billion and $3.45 billion, with adjusted EBITDA expected to be between $280 million and $310 million, reflecting management's confidence in future growth despite challenges from unpredictable storm restoration services.
See More
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- Performance Highlights: Centuri Holdings reported record quarterly revenue of $850 million in November 2026, an 18.1% year-over-year increase, with base revenue rising 25% and base gross profit up 28%, indicating strong business growth potential.
- Market Performance: As of February 12, 2026, Centuri shares were priced at $31.11, reflecting a 45.9% increase over the past year, significantly outperforming the S&P 500 by 33 percentage points, showcasing strong market demand for its infrastructure services.
- Future Outlook: While Centuri's backlog reached a record $5.9 billion, indicating sustained demand for utility modernization, investors should monitor leverage and margin management to ensure sustainable long-term shareholder returns.
See More
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- Complete Exit: ACK Asset Management fully exited its position in Centuri Holdings (NYSE:CTRI) by selling 1,375,000 shares for approximately $29.11 million, indicating a cautious outlook on the company's future performance.
- Quarter-End Valuation Decline: This transaction resulted in a $29.11 million decline in the value of ACK's Centuri holdings at the end of the fourth quarter, reflecting concerns about the company's growth potential despite its strong performance.
- Strong Performance Yet Skepticism: Although Centuri posted record quarterly revenue of $850 million in November 2026, up 18.1% year-over-year, ACK's exit suggests a lack of confidence in the company's valuation and sustainable returns, potentially impacting investor sentiment.
- Market Performance Comparison: Centuri's shares rose 45.9% over the past year, significantly outperforming the S&P 500 by 33 percentage points; however, ACK's exit may prompt a reevaluation of the company's future performance in light of ongoing demand for infrastructure modernization.
See More
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- Ownership Proportion: Following this acquisition, Icahn's fund now holds 49.1% of its reportable U.S. equity in Icahn Enterprises, marking it as the largest position among its 13 holdings, which underscores the importance of this investment.
- Financial Overview: As of February 17, 2026, Icahn Enterprises shares are priced at $7.99, down 0.62% year-over-year, and the stock has plummeted about 88% over the past five years, raising concerns about its sustainability in the market.
- Investor Considerations: Despite offering a 25% dividend yield, such high yields often raise alarms regarding payout sustainability, prompting investors to carefully assess the company's future investment potential amidst its significant shareholding.
See More
Carl Icahn Increases IEP Stake by $245.63 Million
- Share Acquisition Details: Carl Icahn increased his stake in IEP by 30,467,595 shares during Q4, with an estimated transaction value of $245.63 million, reflecting his ongoing confidence in the company.
- Position Value Decline: Despite the increase in shares, the fund's quarter-end position value in IEP fell by $221.44 million, indicating the impact of market price fluctuations on the investment portfolio.
- Asset Management Proportion: IEP now accounts for 49.1% of Icahn's total assets under management, making it the largest holding, which underscores its significance in his diversified investment strategy.
- Dividend Yield Concerns: With a staggering 25% dividend yield, IEP attracts attention but raises sustainability concerns, especially given the stock's 88% decline over the past five years, highlighting potential risks for investors.
See More
Centuri Holdings Reports Record $3 Billion Revenue in 2025
- Record Revenue: Centuri Holdings achieved a record revenue of $3 billion in 2025, with an adjusted net income of $39 million, reflecting a 49% year-over-year increase, indicating strong market demand and improved profitability.
- Order and Backlog Status: The company reported bookings exceeding $4.5 billion for the year, with a book-to-bill ratio of 1.5x, and a year-end backlog of approximately $5.9 billion, an increase of $2.2 billion from last year, highlighting significant future growth potential.
- Margin Improvement: For Q4, base revenue was $855 million with a gross profit margin of 9.4%, and the company expects to continue enhancing margins in 2026 through improved operational efficiency and fleet management.
- Future Outlook: Management anticipates base revenue for 2026 to range between $3.15 billion and $3.45 billion, with adjusted net income targets of $55 million to $75 million, demonstrating confidence in sustained growth and market opportunities.
See More
Centuri Holdings Q4 Earnings Beat Expectations with Strong Revenue Growth
- Earnings Highlights: Centuri Holdings reported a Q4 non-GAAP EPS of $0.17, missing expectations by $0.02, yet achieved revenue of $858.6 million, a 19.7% year-over-year increase, exceeding market expectations by $117.98 million, indicating robust market demand.
- Cash Flow Performance: The company generated $83.9 million in cash flow from operations and $105.7 million in free cash flow in Q4, demonstrating improved operational efficiency that supports future investments and expansion.
- Record Annual Bookings: Centuri recorded $4.5 billion in annual bookings for 2023, with 55% from new awards and 45% from existing contract renewals, showcasing the company's competitive strength and customer loyalty in the market.
- Future Financial Guidance: The company anticipates base revenue for 2026 to range between $3.15 billion and $3.45 billion, with adjusted EBITDA expected to be between $280 million and $310 million, reflecting management's confidence in future growth despite challenges from unpredictable storm restoration services.
See More
ACK Asset Management Fully Exits Centuri Holdings Position
- Complete Exit: ACK Asset Management LLC fully exited its position in Centuri Holdings by selling 1,375,000 shares for approximately $29.11 million, resulting in a decline in the quarter-end value and leaving the fund without any Centuri shares.
- Performance Highlights: Centuri Holdings reported record quarterly revenue of $850 million in November 2026, an 18.1% year-over-year increase, with base revenue rising 25% and base gross profit up 28%, indicating strong business growth potential.
- Market Performance: As of February 12, 2026, Centuri shares were priced at $31.11, reflecting a 45.9% increase over the past year, significantly outperforming the S&P 500 by 33 percentage points, showcasing strong market demand for its infrastructure services.
- Future Outlook: While Centuri's backlog reached a record $5.9 billion, indicating sustained demand for utility modernization, investors should monitor leverage and margin management to ensure sustainable long-term shareholder returns.
See More
ACK Asset Management Exits Centuri Holdings Position Worth $29 Million
- Complete Exit: ACK Asset Management fully exited its position in Centuri Holdings (NYSE:CTRI) by selling 1,375,000 shares for approximately $29.11 million, indicating a cautious outlook on the company's future performance.
- Quarter-End Valuation Decline: This transaction resulted in a $29.11 million decline in the value of ACK's Centuri holdings at the end of the fourth quarter, reflecting concerns about the company's growth potential despite its strong performance.
- Strong Performance Yet Skepticism: Although Centuri posted record quarterly revenue of $850 million in November 2026, up 18.1% year-over-year, ACK's exit suggests a lack of confidence in the company's valuation and sustainable returns, potentially impacting investor sentiment.
- Market Performance Comparison: Centuri's shares rose 45.9% over the past year, significantly outperforming the S&P 500 by 33 percentage points; however, ACK's exit may prompt a reevaluation of the company's future performance in light of ongoing demand for infrastructure modernization.
See More
