Centuri Holdings announced that it has secured more than $345 million in new commercial awards, comprising a mix of new projects and expanded Master Services Agreements across the United States. The awards represent a significant addition to the company’s backlog and are expected to provide strong revenue visibility in the coming quarters.
The new contracts are split roughly 70 % new or expanded Master Services Agreements and 30 % individual project work, and they span both natural gas and electric infrastructure services. This mix underscores Centuri’s dual‑market capabilities and its focus on securing long‑term, recurring revenue streams while still pursuing one‑off project opportunities.
In context, the $345 million represents a continuation of a robust booking trend. In the first quarter of 2025 Centuri secured over $1.2 billion in new awards, and in December 2025 it announced nearly $500 million in new awards, bringing year‑to‑date bookings to approximately $4.3 billion. The company ended 2025 with a backlog of $5.9 billion, and the new awards bring the backlog closer to $6.2 billion, reinforcing the company’s ability to generate predictable cash flow.
The awards reinforce Centuri’s strategy of expanding its footprint in the U.S. utility market and signal strong demand for its infrastructure services. The mix of long‑term MSAs and new projects provides a balance of revenue stability and growth potential, aligning with the company’s focus on margin improvement and operational efficiency. The new awards also support the company’s guidance for 2026, which projects revenue between $3.15 billion and $3.45 billion and a base gross profit margin of 8.0 % for the full year.
Industry tailwinds such as grid modernization, data‑center power needs, and the transition to cleaner energy sources are driving demand for the services Centuri provides. These factors, combined with the company’s “One Centuri” approach to execution, position Centuri to capture additional market share and maintain its competitive edge against peers such as Essential Utilities, Brookfield Renewable Partners, Quanta Services, and MYR Group.
"These awards reflect the diversification of our offerings and the ability and expertise of our teams to deliver high‑quality solutions in support of our customers’ broad range of energy needs," said Christian Brown, President and CEO of Centuri Holdings.
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