Centuri
Builds and maintains electric and gas utility networks across the United States and Canada.
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Profile
Builds and maintains electric and natural-gas distribution and urban-transmission networks for regulated utilities across the United States and Canada. Revenue comes mainly from recurring work under long-term master service agreements across U.S. gas, Canadian utility, union electric and non-union electric operations.
Builds, maintains, replaces and upgrades electric and natural-gas networks for regulated utilities across the United States and Canada. U.S. Gas Utility Services handles local distribution and utility-scale transmission; Canadian Utility Services covers gas and electric systems, storm response and renewable projects. Union Electric Utility Services adds urban transmission, distribution and industrial construction, while Non-Union Electric Utility Services focuses on recurring distribution and urban-transmission work.
Combines regional operating companies, union and non-union crews, and a broad field footprint to shift resources across customers and geographies. Work is distribution-focused and maintenance-oriented, with most revenue generated under long-term master service agreements rather than cross-country pipeline projects. Those agreements generally guarantee no minimum volume and can often be cancelled on short notice; utility capital budgets, public-utility approvals, skilled-labor availability, safety execution and weather therefore shape workload and results.
Company facts
Key statistics
Year to date −21.3% · Average volume (30d) 1.9M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 19, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $35 | $36 |
| Aug 5, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $34 | $35 |
| Aug 5, 2026 | Robert W. Baird | Target | $41 | $33 | |
| May 11, 2026 | UBS | Reiterate | Neutral | $17 | $36 |
| May 8, 2026 | Robert W. Baird | Target | $23 | $41 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $0.21 | $0.24 | +14.0% | $836.0M | $962.0M | +15.1% | −21.46% |
| May 6, 2026Q1 FY26 | −$0.05 | −$0.02 | +60.0% | $618.9M | $723.2M | +16.9% | −19.62% |
| Feb 25, 2026Q4 FY25 | $0.20 | $0.17 | −15.0% | $740.7M | $858.6M | +15.9% | +2.48% |
| Nov 5, 2025Q3 FY25 | $0.32 | $0.19 | −40.6% | $740.6M | $850.0M | +14.8% | −2.55% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $550.1M | $724.1M | $850.0M | $761.0M | $699.9M | $932.0M | |
| Gross profit | $20.3M | $61.1M | $71.3M | $93.8M | $35.8M | $69.1M | |
| Operating income | −$12.7M | $33.7M | $38.7M | $33.2M | $3.1M | $24.1M | |
| Net income | −$17.9M | $8.1M | $2.1M | $30.2M | −$9.5M | $6.1M | |
| Diluted EPS | −$0.20 | $0.09 | $0.02 | $0.32 | −$0.09 | $0.06 | |
| Gross margin | 3.7% | 8.4% | 8.4% | 12.3% | 5.1% | 7.4% | |
| Operating margin | -2.3% | 4.7% | 4.5% | 4.4% | 0.4% | 2.6% |
Fiscal years (4-quarter sums)FY23 $2.90B · FY24 $2.64B · FY25 $2.89B
Revenue by geography · Q2 FY26
Balance sheet, Jun 28, 2026Cash & short-term investments $40.5M · Total debt $929.2M · Total assets $2.40B · Shareholders' equity $868.9M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 100.96M · Float 32.77M · 32.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Icahn Carl C | 14.34M | 14.20% | 13F | Aug 14, 2026 |
| Icahn Enterprises L.P. | 14.34M | 14.40% | 13D | Nov 13, 2025 |
| BlackRock, Inc. | 6.88M | 6.82% | 13F | Aug 7, 2026 |
| Carronade Capital Management, LP | 5.52M | 5.50% | 13G | Aug 14, 2026 |
| FMR LLC | 5.38M | 5.33% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Dec 4, 2025 | Christian Brown | director, officer: Chief Executive Officer | −7,108 | $24.51 |
| Nov 14, 2025 | Carl C. Icahn | 10 percent owner | +3,488,372 | $21.50 |
| Sep 5, 2025 | Southwest Gas Holdings, Inc. | 10 percent owner | −27,362,210 | $19.60 |
Peers
- Quanta Services
Largest overlap across electric, gas utility and storm work
- MasTec
Broad public peer in power delivery and gas infrastructure
- Primoris Services
Utilities-segment overlap in gas, power delivery and storms
- MYR Group
Focused electric T&D peer across the U.S. and Canada
- Dycom Industries
Narrow overlap in underground fiber, locating and utility work
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Centuri | $20.32 | −0.05% | $2.05B | 64.8 | 24.6 | 0.6 | +32.9% |
| Quanta Services | $603.00 | +0.10% | $90.61B | 69.0 | 33.5 | 2.8 | +41.1% |
| MasTec | $244.44 | +1.48% | $19.35B | 38.4 | 21.8 | 1.2 | +23.4% |
| Primoris Services | $73.53 | +0.53% | $3.97B | 28.8 | 18.5 | 0.5 | −10.7% |
| MYR Group | $295.84 | +0.52% | $4.58B | 28.0 | 22.9 | 1.1 | +20.2% |
| Dycom Industries | $295.41 | +0.32% | $8.84B | 26.9 | 16.6 | 1.3 | +45.6% |
| Median | 28.8 | 21.8 | 1.2 | +23.4% |