Centuri Q2 Revenue Surges 33% to $962M, Backlog Hits $6.4B
CTRI sits 46% above its 52-week low of $19.04.
Summary
Centuri Holdings reported Q2 2026 revenue of $962 million, a 33% increase year-over-year, with a $6.4 billion backlog and the completion of the JJ White acquisition.
Key Events · Earnings and Guidance · CTRI
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Revenue Surges 33% to $962M
Q2 2026 revenue reached $962 million, up from $724 million in the prior year, driven by growth in all four segments. Six-month revenue hit $1.69 billion, a 32% increase.
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Backlog Reaches $6.4 Billion
Total backlog as of June 28, 2026 was approximately $6.4 billion, with 83% related to master service agreements, indicating strong multi-year demand visibility.
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City of Chicago Reversal Hits U.S. Gas
A $9.0 million revenue reversal on a legacy contract with the City of Chicago reduced U.S. Gas segment gross profit and net income by $6.7 million after tax.
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JJ White Acquisition Completed
On July 20, 2026, Centuri completed the acquisition of JJ White, Inc. for approximately $62 million in cash, expanding into power generation, data centers, and industrial end markets.
Analysis · CTRI · Energy & Transportation
A standout quarter for Centuri saw revenue jump 33% year-over-year to $962 million, fueled by broad-based growth across all segments. Gross profit edged higher despite a $9 million revenue reversal on a legacy Chicago contract. The backlog swelled to $6.4 billion, signaling strong future demand. The quarter also saw the completion of the JJ White acquisition for $62 million, expanding its industrial and data center capabilities. While net income dipped slightly due to the Chicago reversal and higher costs, the underlying operational momentum is robust.
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 8 out of 10.