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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 | 2.6% | 13.1% | -433.1% |
| 2024 | $2.6B | $243M | $-7M | $59M | -1.2% | -9.0% | -96.4% |
| 2023 | $2.9B | $85M | $-186M | $61M | -82.4% | 5.0% | 10.7% |
| 2022 | $2.8B | $68M | $-168M | $-35M | -43.5% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,760.33 | 2,899.28 | 2,637.23 | 2,982.78 |
| Operating 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 | 153.74 |
| Selling General And Administration | - | 109.20 | 110.34 | 107.25 | 126.46 |
| Total Expenses | - | 2,684.67 | 2,762.85 | 2,550.45 | 2,889.96 |
| Operating Income | - | 75.66 | 136.43 | 86.78 | 92.82 |
| Total Operating Income As Reported | - | -101.43 | -77.56 | 86.78 | 92.82 |
| EBITDA | - | 67.50 | 85.32 | 243.19 | 254.23 |
| Normalized EBITDA | - | 244.59 | 299.31 | 243.19 | 254.23 |
| EBIT | - | -102.32 | -77.50 | 87.16 | 93.02 |
| Interest Expense | - | 61.37 | 97.48 | 90.52 | 78.43 |
| Net Interest Income | - | -61.37 | -97.48 | -90.52 | -78.43 |
| Other Non Operating Income Expenses | - | -0.89 | 0.06 | 0.38 | 0.19 |
| Other Income Expense | - | -177.97 | -213.93 | 0.38 | 0.19 |
| Interest Expense Non Operating | - | 61.37 | 97.48 | 90.52 | 78.43 |
| Net Non Operating Interest Income Expense | - | -61.37 | -97.48 | -90.52 | -78.43 |
| Pretax Income | - | -163.69 | -174.98 | -3.36 | 14.59 |
| Tax Provision | - | 1.30 | 9.53 | 3.47 | -8.06 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -37.19 | -44.94 | 0 | 0 |
| Net Income Continuous Operations | - | -164.99 | -184.51 | -6.82 | 22.65 |
| Net Income From Continuing And Discontinued Operation | - | -168.14 | -186.18 | -6.72 | 22.40 |
| Net Income From Continuing Operation Net Minority Interest | - | -168.14 | -186.18 | -6.72 | 22.40 |
| Net Income | - | -168.14 | -186.18 | -6.72 | 22.40 |
| Net Income Common Stockholders | - | -168.14 | -186.18 | -6.72 | 22.40 |
| Net Income Including Noncontrolling Interests | - | -164.99 | -184.51 | -6.82 | 22.65 |
| Normalized Income | - | -28.25 | -17.12 | -6.72 | 22.40 |
| Diluted NI Availto Com Stockholders | - | -168.14 | -186.18 | -6.72 | 22.40 |
| Basic Average Shares | 86.66 | 86.66 | 86.66 | 83.29 | - |
| Diluted Average Shares | 86.66 | 86.66 | 86.66 | 83.29 | - |
| 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 |
| Total Unusual Items | - | -177.09 | -213.99 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | - | -177.09 | -213.99 | 0 | 0 |
| Minority Interests | - | -3.16 | -1.67 | 0.10 | -0.26 |
| Special Income Charges | - | -177.09 | -213.99 | 0 | 0 |
| Impairment Of Capital Assets | - | 177.09 | 213.99 | 0 | 0 |
| 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 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Centuri Holdings, Inc.this co. | CTRI | $3.2B | 140.66↑ premium | 3.61 | 2.6% | 15.58 |
| Black Hills Corporation | BKH | $5.5B | 18.77 | 1.43 | 7.6% | 11.98 |
| Brookfield Infrastructure Corporation | BIPC | $5.1B | - | - | 18.6% | 6.17 |
| Fluence Energy, Inc. | FLNC | $5.0B | -103.57 | 11.65 | -11.2% | -276.81 |
| ONE Gas, Inc. | OGS | $4.9B |
| - |
| - |
| - |
| - |
| - |
| - |
| 18.36 |
| 1.41 |
| 7.7% |
| 10.51 |
| Spire Inc. | SR | $4.8B | 17.65 | 1.52 | 8.6% | 11.95 |
| NorthWestern Energy Group, Inc. | NWE | $4.3B | 23.64 | 1.48 | 6.3% | 13.13 |
| Middlesex Water Company | MSEX | $976M | 22.78 | 1.97 | 8.7% | 14.71 |
| Unitil Corporation | UTL | $902M | 17.97 | 1.48 | 8.2% | 9.19 |
| Peer Median | - | 18.36 | 1.48 | 8.0% | 11.23 | |