Centuri Secures $400M in Contracts for U.S. Gas Business Expansion, Boosting CTRI Stock

Centuri Group has secured $400M in contracts for its U.S. Gas business expansion, targeting a significant gas utility customer in the Northeast region. The contracts facilitate the company's expansion into new operating territories, strengthening its presence in the area. The company's consolidated revenue increased by 7.8% in Q4 2024, with gross profit margin at 9.9%, up from 8.1% in Q4 2023.

Phoenix, April 24, 2025 — Centuri Holdings, Inc. (NYSE: CTRI) has announced nearly $400 million in customer awards for its U.S. Gas business segment. The awards reflect booking and options for multiple Master Service Agreement (MSA) renewals, including expansion into new operating territory for a key gas utility client in the Northeast [1].

The work includes the replacement of existing aged natural gas infrastructure and system betterment, leveraging Centuri's diversified union and non-union workforce. This announcement follows new awards totaling more than $850 million announced on April 1 and March 24 [1].

Centuri President and CEO Christian Brown commented, "These renewals demonstrate the confidence and trust our customers have in us to not only continue working on their behalf, but to expand our scope of work. I’m proud of our teams who work safely each day delivering projects on time and on budget, which earns us ongoing and expanded opportunities with our valued clients. These commercial wins are essential building blocks as we drive to achieve profitable growth."

Centuri's consolidated revenue increased by 7.8% in Q4 2024, with gross profit margin at 9.9%, up from 8.1% in Q4 2023. This growth highlights the company's strong performance and its ability to secure significant contracts for its U.S. Gas business [2].

References:
[1] https://www.businesswire.com/news/home/20250424435738/en/Centuri-Announces-Nearly-%24400-Million-in-Customer-Awards
[2] https://www.morningstar.com/news/pr-newswire/20250424ny71621/max-surgical-specialty-management-secures-77-million-senior-credit-facility-to-accelerate-growth-in-the-northeast