Centuri (CTRI) 16th Annual Wells Fargo Industrials & Materials Conference summary

Strategic vision and organizational alignment

• Vision One Centuri unifies multiple operating companies into a single, integrated entity, enhancing collaboration and resource sharing.

• Strategic plan targets 10%-15% annual revenue growth across all end markets, including gas, electric, distributed power, and industrial.

• Aggressive EBIT growth targets of 20%-25% are supported by capital efficiency initiatives, such as increased fleet leasing.

• Focus on sustainability through cash flow generation, investment in people, and expanding fleet capabilities.

• One Company approach improves client engagement, resource allocation, and talent development across regions and business lines.

Market demand and growth drivers

• Strong demand across all end markets, with consistent pipeline growth and green lights in every business segment for the past three quarters.

• Electric segment driven by transmission, distribution, resiliency, and reliability needs; gas segment sees growth from O&M contracts and new pipeline installations.

• Data center and industrial projects are significant demand drivers, especially for union electric work.

• Book-to-bill ratio guided at 1.1x-1.2x for the year, with over $2 billion in bookings expected by mid-year and a goal to exceed $4 billion for fiscal 2026.

• Backlog for 2026 stands at $3.4 billion, with a target to increase 2027 backlog by at least 15%.

Inflation, labor, and talent strategy

• Inflation is managed through contract escalators and smaller, shorter-term projects, minimizing impact.

• Headcount increased by nearly 20% in the past 15-16 months, with a focus on proactive talent pipeline development.

• Apprenticeship programs for line workers and electricians span four years, ensuring a steady flow of skilled labor.

• Shift from reactive to proactive talent acquisition, investing in learning and development to meet future customer needs.