Centuri Holdings, Inc. ( (CTRI) ) has released its Q4 earnings. Here is a breakdown of the information Centuri Holdings, Inc. presented to its investors.
Centuri Holdings, Inc. is a strategic utility infrastructure services company that collaborates with regulated utilities to build and maintain energy networks across the United States and Canada.
Centuri Holdings recently released its financial results for the fourth quarter and fiscal year 2024, highlighting a revenue increase and strategic initiatives under new leadership. The company also introduced its outlook for 2025, emphasizing continued growth and development.
In the fourth quarter of 2024, Centuri reported a revenue of $717.1 million, with a net income of $10.3 million and an adjusted EBITDA of $70.7 million. The company ended the year with a backlog of $3.7 billion, primarily from MSA revenue. For the full year, Centuri achieved a revenue of $2.64 billion, despite a net loss of $6.7 million. The company also appointed a new CEO, Chris Brown, who initiated a review to enhance business development and sales processes.
Centuri’s financial performance was bolstered by increased emergency restoration services, particularly due to hurricanes Helene and Milton, and improvements in its Non-Union Electric segment. However, the U.S. Gas segment faced margin pressures, and offshore wind revenues saw a decline. The company secured $221 million in new awards and expanded its sales opportunity pipeline significantly.
Looking ahead, Centuri Holdings anticipates a revenue range of $2.60 to $2.80 billion for 2025, with an adjusted EBITDA between $240 and $275 million. The company remains focused on improving free cash flow and strengthening its balance sheet, positioning itself for growth in the evolving energy markets.