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Centuri Holding (CTRI) investor relations material

Centuri Holding Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary6 Aug, 2025

Executive summary

  • Revenue grew 7.7% year-over-year to $724.1 million in Q2 2025, led by strong electric segment performance and robust bookings; net income was $8.1 million, down from $11.7 million year-over-year.

  • Adjusted EBITDA increased to $71.8 million (9.9% margin), with adjusted net income nearly flat at $16.9 million.

  • Book-to-bill ratio reached 2.3x in H1 2025, with $1.8 billion in new bookings in Q2 and backlog rising to $5.3 billion.

  • Strategic initiatives included a business development review, new growth strategies, and leadership changes in fleet and U.S. Gas.

  • Completed IPO and secondary offerings, reducing parent ownership to 52% by July 2025.

Financial highlights

  • Q2 2025 revenue was $724.1M, up 7.7% year-over-year; gross profit was $67.8M (9.4% margin), up 12.1%.

  • Adjusted EBITDA was $71.8M (9.9% margin), up from $68.6M (10.2%) a year ago.

  • Net income was $8.1M (EPS $0.09), down from $11.7M (EPS $0.14) prior year; adjusted net income was $16.9M (Adj. EPS $0.19), nearly flat year-over-year.

  • Free cash flow improved by $27.1M year-over-year; net CapEx was $19.4M in Q2 and $45.2M for H1 2025.

  • Net cash used in operating activities for H1 2025 was $11.0M, a significant improvement from $83.0M used in the prior year.

Outlook and guidance

  • Full-year 2025 revenue guidance raised to $2.7–$2.85B (from $2.6–$2.8B) on strong bookings.

  • Adjusted EBITDA guidance narrowed to $250–$270M (from $240–$275M); CapEx guidance increased to $75–$90M.

  • Expect margin improvement in H2 2025 across all segments, with backlog at higher margins than H1.

  • Management expects capital resources to be sufficient for obligations over the next 12 months.

  • Projects in backlog may be subject to delays or cancellations due to regulatory, weather, or customer factors.

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Frequently asked questions

Centuri Holdings, Inc. is a utility infrastructure services company dedicated to maintaining, upgrading, and expanding the energy networks that power homes and businesses across the United States and Canada. The company provides a comprehensive range of services through its Gas Utility Services and Electric Utility Services segments. These services include the maintenance, repair, installation, and modernization of natural gas and electric utility systems. Headquartered in Phoenix, Arizona, Centuri Holdings, Inc. trades on the New York Stock Exchange.

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