Centuri Q3 Revenue Jumps 40% to $1.19B; Cash Falls to $42M on Working Capital Build
CTRI is trading near its 52-week low of $18.6 (3.5% above the low).
Summary
Centuri posted record Q3 revenue of $1.19 billion, up 40%, and net income of $26.9 million ($0.27 per diluted share), but working capital absorbed cash and left $42.0 million on hand with revolver borrowings up to $178.6 million.
Key Events · Earnings and Guidance · CTRI
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Record Q3 Revenue, Up 40%
Total revenue rose to $1,192.0 million from $850.0 million, with gross profit up 45.4% to $113.4 million and operating income up 68.1% to $61.0 million.
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Net Income $26.9M, EPS $0.27
Net income attributable to common stock was $26.9 million versus $2.1 million a year ago; diluted EPS was $0.27 versus $0.02.
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Operating Cash Flow Negative $42.6M
Nine-month operating cash flow was negative $42.6 million versus negative $5.8 million, driven by a $94.2 million cash use from higher receivables and contract assets tied to revenue growth and billing timing.
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Cash Down to $42.0M; Revolver Up
Cash and equivalents fell to $42.0 million from $126.6 million at December 28, 2025, while revolving credit borrowings rose to $178.6 million from $91.2 million, leaving $220.7 million of unused revolver capacity.
Analysis · CTRI · Energy & Transportation
Centuri's Q3 top line grew 40% to $1.19 billion and gross profit rose 45% to $113.4 million, but the cash story is the one that matters: nine-month operating cash flow was negative $42.6 million versus negative $5.8 million a year ago, driven by a $94.2 million swing in receivables and contract assets as revenue outran billings. Cash and equivalents dropped to $42.0 million from $126.6 million at year-end, and revolver borrowings rose to $178.6 million from $91.2 million, leaving $220.7 million of unused revolver capacity. Management says resources are sufficient for the next 12 months, and the company remains in compliance with its leverage and interest coverage covenants, but the cushion is thinner than it was six months ago.
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At the time of this filing, CTRI was trading at $19.25 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.9B. The 52-week trading range was $18.60 to $42.99. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.