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Centuri Holdings

Centuri Holdings (CTRI) Q2 2026 Earnings

Reported Aug 4, 2026 at 8:05 AM ET · SEC Source

Q2 26 EPS

$0.24

BEAT +20.66%

Est. $0.20

Q2 26 Revenue

$962.0M

BEAT +15.07%

Est. $836.0M

vs S&P Since Q2 26

-14.8%

TRAILING MARKET

CTRI -14.4% vs S&P +0.5%

Market Reaction

Did CTRI Beat Earnings? Q2 2026 Results

Centuri Holdings, Inc. Delivered a standout second quarter for fiscal 2026, beating Wall Street on both the top and bottom lines as the utility infrastructure services firm reported revenue of $961.99 million, a 32.9% year-over-year increase that the… Read more Centuri Holdings, Inc. Delivered a standout second quarter for fiscal 2026, beating Wall Street on both the top and bottom lines as the utility infrastructure services firm reported revenue of $961.99 million, a 32.9% year-over-year increase that the company described as a quarterly record, against a consensus estimate of $836.02 million, a 15.07% beat. Adjusted EPS of $0.24 cleared the $0.20 consensus by 20.66%, even as a $9.00 million write-down of Chicago-related receivables, triggered by an April 2026 court ruling, weighed on GAAP net income, which slipped to $6.10 million from $8.05 million a year ago. The revenue surge was broad-based, led by Canadian Operations at 48% growth and U.S. Gas at 45%, though margin compression from elevated fuel costs and workforce ramp-up investments narrowed Base Gross Profit Margin to 7.9% from 8.9%. Looking ahead, management raised full-year 2026 guidance, now targeting revenue of $3.59 billion to $3.79 billion and Adjusted Net Income of $60 million to $75 million, buoyed by the July acquisition of JJ White and a record $16.00 billion opportunity pipeline.

Key Takeaways

  • • New bid and MSA contracts drove U.S. Gas revenue growth of 45%
  • • Inclusion of Connect Utility Services boosted Canadian Operations revenue growth of 48%
  • • New bid work expanded Union Electric revenue by 23%
  • • Increased volumes under new and existing MSAs drove Non-Union Electric revenue growth of 11%
  • • Organic workforce expansion of approximately 18% (1,700 employees) during first half of 2026
  • • Higher fuel costs estimated at $6 million created headwinds in Q2
  • • $3 million investment in U.S. Gas labor mobilization and ramp-up compressed near-term margins
  • • Net Debt to Adjusted EBITDA improved to 2.6x from 3.7x year-over-year

CTRI Forward Guidance & Outlook

Centuri raised full year 2026 guidance to include JJ White contributions and approximately $5 million of incremental fuel cost expense. The company now expects: Base Revenue of $3.5 to $3.7 billion; Base Gross Profit of $270 to $290 million; Revenue of $3.59 to $3.79 billion; Adjusted EBITDA of $285 to $310 million; Adjusted Net Income of $60 to $75 million; and Net Capital Expenditures of $60 to $75 million. Management forecasts second-half 2026 Base Gross Profit Margin of approximately 9.0%. The company targets a full-year book-to-bill ratio of approximately 1.2x. The opportunity pipeline expanded to a record $16 billion, with approximately $2.5 billion of outstanding bids.

24/7 Wall St

CTRI YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

CTRI Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26

“Our second quarter results reflect tremendous year-over-year growth, including record quarterly revenue and a 21% year-over-year increase in Base Gross Profit. The business has delivered a trailing 12-month Base Gross Profit Margin of 7.8%, compared to 7.4% a year ago, underscoring sustained improvement in profitability. Notably, trailing 12-month margins expanded even as higher fuel prices created an estimated $6 million headwind in the second quarter, highlighting the strength and resilience of the underlying business. We are focused on driving higher-margin work into our backlog and delivering sustainable long-term growth. Our end-markets continue to display growth as evidenced by our $16 billion opportunity pipeline and approximately $2.5 billion of outstanding bids, which is up 15% from last quarter.”

— Christian Brown, Q2 2026 Earnings Press Release

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