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Centuri Holdings, Inc. operates as a utility infrastructure services company in North America. It operates through four segments: U.S. Gas Utility Services; Canadian Operations; Union Electric Utility Services; and Non-Union Electric Utility Services. The company offers gas utility services, including maintenance, replacement, repair, and installation for local natural gas distribution utilities focused on the modernization of customers' infrastructure. It also provides electric utility services encompassing maintenance, replacement, repair, upgrade, and expansion services for urban transmission and local distribution infrastructure, as well as corporate and non-allocated transactions. The company customers include electric, gas, and combination utility providers, as well as serves end markets, such as distributed power projects, and data centers. The company was founded in 1909 and is headquartered in Phoenix, Arizona. Centuri Holdings, Inc. is a subsidiary of Southwest Gas Holdings, Inc.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.0B | $254M | $22M | $-8M | 2.5% | 13.1% | - |
| 2024 | $2.6B | $243M | $-7M | $59M | -1.2% | -9.0% | - |
| 2023 | $2.9B | $85M | $-186M | $61M | -57.2% | 5.0% | - |
| 2022 | $2.8B | $68M | $-168M | $-35M | -30.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 2,760.33 | 2,899.28 | 2,637.23 | 2,982.78 |
| Cost Of Revenue | 2,545.72 | 2,625.83 | 2,416.56 | 2,736.22 |
| Gross Profit | 214.61 | 273.44 | 220.67 | 246.57 |
| Operating Expense | 138.96 | 137.01 | 133.89 | 153.75 |
| Operating Income | 75.66 | 136.43 | 86.78 | 92.82 |
| EBITDA | 67.50 | 85.32 | 243.19 | 254.23 |
| EBIT | -102.32 | -77.50 | 87.16 | 93.02 |
| Pretax Income | -163.69 | -174.98 | -3.36 | 14.59 |
| Tax Provision | 1.30 | 9.53 | 3.47 | -8.06 |
| Net Income | -168.15 | -186.18 | -6.72 | 22.39 |
| Net Income Common Stockholders | -168.15 | -186.18 | -6.72 | 22.39 |
| Total Expenses | 2,684.67 | 2,762.85 | 2,550.45 | 2,889.96 |
| Interest Expense | 61.37 | 97.48 | 90.52 | 78.43 |
| Selling General And Administration | 109.20 | 110.34 | 107.25 | 126.46 |
| Normalized EBITDA | 244.59 | 299.31 | 243.19 | 254.23 |
| Normalized Income | -28.25 | -17.12 | -6.72 | 22.39 |
| Basic EPS | -1.94 | -2.15 | -0.08 | 0 |
| Diluted EPS | -1.94 | -2.15 | -0.08 | 0 |
| Tax Effect Of Unusual Items | -37.19 | -44.94 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.21 |
| Total Unusual Items | -177.09 | -213.99 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -177.09 | -213.99 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -168.15 | -186.18 | -6.72 | 22.39 |
| Reconciled Depreciation | 169.82 | 162.82 | 156.03 | 161.21 |
| Reconciled Cost Of Revenue | 2,405.66 | 2,489.68 | 2,287.17 | 2,602.28 |
| Net Interest Income | -61.37 | -97.48 | -90.52 | -78.43 |
| Net Income From Continuing And Discontinued Operation | -168.15 | -186.18 | -6.72 | 22.39 |
| Total Operating Income As Reported | -101.43 | -77.56 | 86.78 | 92.82 |
| Diluted Average Shares | 86.66 | 86.66 | 83.29 | 0 |
| Basic Average Shares | 86.66 | 86.66 | 83.29 | 0 |
| Diluted NI Availto Com Stockholders | -168.15 | -186.18 | -6.72 | 22.39 |
| Minority Interests | -3.16 | -1.67 | 0.10 | -0.26 |
| Net Income Including Noncontrolling Interests | -164.99 | -184.51 | -6.82 | 22.65 |
| Net Income Continuous Operations | -164.99 | -184.51 | -6.82 | 22.65 |
| Other Income Expense | -177.97 | -213.93 | 0.38 | 0.19 |
| Other Non Operating Income Expenses | -0.89 | 0.06 | 0.38 | 0.19 |
| Special Income Charges | -177.09 | -213.99 | 0 | 0 |
| Impairment Of Capital Assets | 177.09 | 213.99 | 0 | 0 |
| Net Non Operating Interest Income Expense | -61.37 | -97.48 | -90.52 | -78.43 |
| Interest Expense Non Operating | 61.37 | 97.48 | 90.52 | 78.43 |
| Depreciation Amortization Depletion Income Statement | 29.76 | 26.67 | 26.64 | 27.28 |
| Depreciation And Amortization In Income Statement | 29.76 | 26.67 | 26.64 | 27.28 |
| Amortization | 29.76 | 26.67 | 26.64 | 27.28 |
| Amortization Of Intangibles Income Statement | 29.76 | 26.67 | 26.64 | 27.28 |
| Operating Revenue | 2,760.33 | 2,899.28 | 2,637.23 | 2,982.78 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Centuri Holdings, Inc.this co. | CTRI | $3.5B | 140.72↑ premium | 4.06 | 2.5% | 18.21 |
| TXNM Energy, Inc. | TXNM | $6.5B | 39.77 | 1.88 | 4.4% | 14.10 |
| Portland General Electric Company | POR | $5.9B | 18.43 | 1.43 | 7.4% | 9.72 |
| Black Hills Corporation | BKH | $5.7B | 18.67 | 1.47 | 7.5% | 12.50 |
| New Jersey Resources Corporation | NJR |
| $5.6B |
| 17.15 |
| 2.26 |
| 14.0% |
| 13.89 |
| ONE Gas, Inc. | OGS | $5.5B | 20.05 | 1.60 | 7.7% | 11.43 |
| Spire Inc. | SR | $5.3B | 19.63 | 1.66 | 8.0% | 12.48 |
| Brookfield Infrastructure Corporation | BIPC | $4.3B | - | -3.28 | -12.0% | 7.01 |
| Fluence Energy, Inc. | FLNC | $2.2B | - | 4.03 | -8.8% | -65.79 |
| Peer Median | - | 19.15 | 1.63 | 7.4% | 11.95 | |