Centuri Reports Record 2025 Revenue, Strong Profit Turnaround, and Robust 2026 Guidance

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This 8-K filing details Centuri's exceptional financial and operational performance for fiscal year 2025, highlighted by record annual revenue and a significant return to net income from a prior-year loss. The company substantially strengthened its balance sheet by reducing its Net Debt to Adjusted EBITDA ratio from 3.6x to 2.5x, partly aided by a $250.9 million equity offering in Q4. Operational strength is evident in the 59% increase in backlog to $5.9 billion and a book-to-bill ratio of 1.5x, exceeding targets. The positive 2026 financial guidance, with expected increases in revenue and Adjusted EBITDA, further reinforces a strong outlook. This report indicates robust demand for Centuri's utility infrastructure services and effective execution by management, positioning the company for continued growth, especially as it trades near its 52-week high.

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• Record Annual Revenue Achieved

  Centuri achieved a record $2.98 billion in annual revenue for fiscal year 2025, representing a 13% increase year-over-year.

• Significant Profitability Turnaround

  The company reported a net income of $22.7 million for 2025, a substantial improvement from a net loss of $6.7 million in 2024, with Adjusted Net Income increasing by 48.7%.

• Strengthened Balance Sheet

  The Net Debt to Adjusted EBITDA ratio improved significantly to 2.5x at year-end 2025, down from 3.6x in 2024, partly due to a $250.9 million equity offering in the fourth quarter.

• Robust Backlog and Bookings Growth

  Backlog expanded by 59% year-over-year to $5.9 billion, supported by $4.5 billion in full-year bookings and a book-to-bill ratio of 1.5x, exceeding the company's target.

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This 8-K filing details Centuri's exceptional financial and operational performance for fiscal year 2025, highlighted by record annual revenue and a significant return to net income from a prior-year loss. The company substantially strengthened its balance sheet by reducing its Net Debt to Adjusted EBITDA ratio from 3.6x to 2.5x, partly aided by a $250.9 million equity offering in Q4. Operational strength is evident in the 59% increase in backlog to $5.9 billion and a book-to-bill ratio of 1.5x, exceeding targets. The positive 2026 financial guidance, with expected increases in revenue and Adjusted EBITDA, further reinforces a strong outlook. This report indicates robust demand for Centuri's utility infrastructure services and effective execution by management, positioning the company for continued growth, especially as it trades near its 52-week high.