Centuri Posts Record $962M Revenue, Raises Full-Year 2026 Guidance
CTRI sits 46% above its 52-week low of $19.04.
Summary
Centuri Holdings reported record Q2 2026 revenue of $962 million, a 33% increase, and raised full-year guidance. The company also completed the acquisition of JJ White, adding scale and backlog.
Key Events · Earnings and Guidance · CTRI
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Record Quarterly Revenue
Revenue reached $962.0 million, a 33% increase year-over-year, driven by growth across all segments: Canadian Operations up 48%, U.S. Gas up 45%, Union Electric up 23%, and Non-Union Electric up 11%.
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Raised Full-Year 2026 Guidance
Guidance raised to Base Revenue of $3.5-$3.7 billion, Adjusted EBITDA of $285-$310 million, and Adjusted Net Income of $60-$75 million, reflecting strong first-half performance and JJ White contributions.
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Adjusted Net Income Up 44%
Adjusted Net Income of $24.4 million, a 44% increase from $16.9 million in Q2 2025, driven by higher revenue and operating leverage, partially offset by $6 million in higher fuel costs and $3 million in mobilization investments.
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JJ White Acquisition Completed
Acquired JJ White for $62 million, adding approximately $315 million in backlog and expected annual gross profit contribution of over $20 million, immediately accretive to Adjusted Net Income.
Analysis · CTRI · Energy & Transportation
A blowout second quarter saw revenue surge 33% to a record $962 million, fueled by broad-based growth across all segments. Adjusted Net Income jumped 44% to $24.4 million, and the company raised its full-year 2026 guidance across every key metric. The acquisition of JJ White adds scale and a $315 million backlog, while the opportunity pipeline expanded to $16 billion, signaling sustained end-market strength. Despite a one-time $9 million write-down on a legacy Chicago contract, underlying profitability improved, and management expects second-half Base Gross Profit Margins of approximately 9.0%. The results and guidance raise materially exceed prior expectations and reinforce the company's growth trajectory.
At the time of this filing, CTRI was trading at $27.85 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $2.8B. The 52-week trading range was $19.04 to $42.99. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.