Centuri Holdings Secures Over $360M in New Commercial Awards
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 22 2026
0mins
Centuri Holdings announced more than $360M in new commercial awards. The bookings reflect the Company's strategic efforts to grow the Company's portfolio through both expanded and new customer relationships. "Winning work with both long-standing customers and new clients reflects the trust and reputation we have earned through consistent, quality execution, uncompromising safety, and a customer-first mindset," said Centuri President and CEO Christian Brown. "These awards strengthen our position in key new markets, including data centers, while extending our existing customer relationships and supporting our long-term strategy to deliver sustainable growth. As investment in system modernization and resiliency continues at an unprecedented pace, we are well positioned to provide value for our customers through our expertise, size, and scale."
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Analyst Views on CTRI
Wall Street analysts forecast CTRI stock price to rise
6 Analyst Rating
3 Buy
1 Hold
2 Sell
Hold
Current: 26.570
Low
22.00
Averages
27.40
High
34.00
Current: 26.570
Low
22.00
Averages
27.40
High
34.00
About CTRI
Centuri Holdings, Inc. is a utility and energy 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 Utility Services (Canadian Operations), 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. 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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See More
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- Contract Composition: Approximately 87% of the award value comes from new bid work and expanded Master Services Agreements (MSAs), while 13% represents renewals with long-standing customers, highlighting the company's solid relationships and ongoing business expansion.
- Future Contract Opportunities: Centuri is actively negotiating approximately $400 million in further contract awards, including data center-related scopes of work, demonstrating the company's robust market expansion capabilities amid unprecedented infrastructure demand.
- Annual Performance Outlook: Year-to-date 2026, Centuri's total commercial awards have reached approximately $1.7 billion, with an expected book-to-bill ratio of about 1.2 for the year, reflecting the company's sustained growth and profitability in the infrastructure sector.
See More
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- Gross Profit Surge: Gross profit for the quarter reached $35.8 million, reflecting a substantial 76% increase from the previous year, showcasing significant improvements in cost control and operational efficiency, thereby enhancing profitability.
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See More
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- Market Target: This agreement supports Canada's goal of achieving 5 GW of offshore wind capacity by 2030, reflecting Nova Scotia's significant role in the global energy transition, particularly given its status as home to some of the strongest offshore wind resources in the world.
- Local Manufacturing Capability: Cherubini will utilize over 250,000 square feet of fabrication space with direct access to quayside and marine vessels, enhancing local manufacturing capacity for wind components, thereby boosting supply chain capabilities and job creation in Nova Scotia.
- Global Experience Integration: The combined expertise of Riggs Distler, Smulders, and Cherubini, totaling over 200 years in the industry, aims to leverage global knowledge and local capabilities to drive long-term growth in Nova Scotia's offshore wind sector.
See More
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- Total New Contracts: Centuri Holdings announced it has secured over $345 million in new commercial awards across the U.S., covering natural gas and electric infrastructure projects, indicating strong demand and growth potential in the market.
- Project Composition: Approximately 70% of the awards stem from new projects and expanded Master Services Agreements, while the remainder consists of renewals with existing customers, showcasing the company's dual success in client retention and new business development.
- Year-to-Date Bookings: Year-to-date bookings for Centuri in 2026 are nearing $1.4 billion, reflecting sustained growth and market confidence in the infrastructure sector.
- Future Outlook: Centuri targets a base revenue of $3.15 billion to $3.45 billion for 2026, further strengthening its backlog and margin initiatives, signaling potential for sustainable growth in the future.
See More
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- Increased Holdings: Icahn Enterprises increased its stake in Centuri Holdings by 3,488,372 shares in Q4 2026, with an estimated transaction value of $77.99 million, indicating sustained confidence in the company.
- Market Valuation Growth: The latest report values Centuri Holdings at $361.99 million, an increase of $132.34 million from the previous filing, reflecting the impact of new purchases and price movements.
- Market Performance: As of March 20, 2026, Centuri Holdings shares were priced at $29.12, marking a 69.5% increase over the past year, outperforming the S&P 500 by 46.33 percentage points, showcasing strong market performance.
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See More
