Revenue growth of 27.2% in 2026Q1 is currently offset by severe margin compression, with operating margins falling to 0.4% due to inflationary pressures on labor and equipment.
| Revenue | 3.04B | 2.89B | 2.64B | 2.9B | 2.76B | 2.16B |
| Revenue Growth % | 12.23% | 9.4% | -9.04% | 5.03% | 27.87% | - |
| Cost of Revenue | 2.77B | 2.64B | 2.42B | 2.63B | 2.55B | 1.97B |
| Gross Profit | 262M | 246.57M | 220.67M | 273.44M | 214.61M | 186.05M |
| Gross Margin % | 8.63% | 8.55% | 8.37% | 9.43% | 7.77% | 8.62% |
| Gross Profit Growth % | - | 11.73% | -19.3% | 27.41% | 15.35% | - |
| Operating Expenses | 153.4M | 153.75M | 133.89M | 351.01M | 316.04M | 86.52M |
| Other Operating Expenses | - | - | - | - | - | - |
| EBITDA | 208.12M | 231.61M | 242.81M | 85.25M | 68.39M | 229.05M |
| EBITDA Margin % | 6.86% | 8.03% | 9.21% | 2.94% | 2.48% | 10.61% |
| EBITDA Growth % | -17.26% | -4.61% | 184.8% | 24.66% | -70.14% | - |
| Depreciation & Amortization | 99.53M | 138.79M | 156.03M | 162.82M | 169.82M | 129.52M |
| D&A / Revenue % | 3.28% | 4.81% | 5.92% | 5.62% | 6.15% | 6% |
| Operating Income (EBIT) | 108.59M | 92.82M | 86.78M | -77.56M | -101.43M | 99.53M |
| Operating Margin % | 3.58% | 3.22% | 3.29% | -2.68% | -3.67% | 4.61% |
| Operating Income Growth % | - | 6.96% | 211.89% | 23.53% | -201.91% | - |
| Interest Expense | 4M | 78.43M | 90.52M | 78.11M | 61.37M | 21M |
| Interest Coverage | - | 1.19x | 0.96x | -0.99x | -1.67x | 4.74x |
| Interest / Revenue % | 0.13% | 2.72% | 3.43% | 2.69% | 2.22% | 0.97% |
| Non-Operating Income | -4M | -1000K | -1000K | -1000K | -1000K | -1000K |
| Pretax Income | 28.39M | 14.59M | -3.36M | -174.98M | -163.69M | 65.62M |
| Pretax Margin % | 0.94% | 0.51% | -0.13% | -6.04% | -5.93% | 3.04% |
| Income Tax | -2.66M | -8.06M | 3.47M | 9.53M | 1.3M | 18.68M |
| Effective Tax Rate % | -9.38% | -55.28% | -103.28% | -5.45% | -0.79% | 28.47% |
| Net Income | 30.8M | 22.39M | -6.72M | -186.18M | -168.15M | 40.51M |
| Net Margin % | 1.01% | 0.78% | -0.25% | -6.42% | -6.09% | 1.88% |
| Net Income Growth % | 3208.48% | 433.06% | 96.39% | -10.72% | -515.03% | - |
| EPS (Diluted) | 0.31 | 0.25 | -0.08 | -2.10 | -1.90 | 0.46 |
| EPS Growth % | 26584.62% | 409.79% | 96.16% | -10.53% | -513.04% | - |
| EPS (Basic) | - | 0.25 | -0.08 | -2.10 | -1.90 | 0.46 |
| Diluted Shares Outstanding | 100.79M | 90.3M | 83.29M | 88.52M | 88.52M | 88.52M |
High operational leverage and thin margins create significant sensitivity to contract execution and inflationary cost spikes.
According to the latest quarterly data, Centuri reported revenue of $699.9 million in 2026Q1, representing a 27.2% year-over-year growth rate, yet this top-line expansion remains highly sensitive to the seasonal nature of utility infrastructure projects and the ongoing post-separation recalibration of its master service agreement portfolio.
The revenue trajectory appears heavily influenced by the timing of utility-mandated maintenance cycles rather than organic pricing power. Investors should monitor whether this growth is sustainable or merely a reflection of catch-up spending on deferred infrastructure projects that may face future budgetary constraints.
As reported in financial statements, the company's operating margin plummeted to 0.4% in 2026Q1, highlighting the extreme vulnerability of its cost structure to inflationary pressures on specialized labor and equipment, which are not always fully offset by the contractual escalation clauses embedded within its utility service agreements.
The thin operating margin suggests that Centuri lacks the pricing power to absorb even minor cost overruns in its labor-intensive service model. This lack of buffer implies that any disruption in project execution or unexpected wage inflation could rapidly erode the company's ability to generate positive operating income.
Based on Centuri's reported figures, the company posted a net loss of $9.5 million in 2026Q1, a stark contrast to the $30.2 million profit seen in 2025Q4, suggesting that reported EPS is currently being distorted by non-recurring separation costs and significant seasonal fluctuations in project activity.
The erratic nature of the bottom line makes it difficult to discern a sustainable earnings baseline for the newly independent entity. Analysts should be wary of relying on quarterly EPS figures until the company establishes a consistent track record of profitability independent of its former parent's corporate structure.
Analysis of the income statement reveals a concerning interest coverage ratio of 0.25 in 2026Q1, which suggests that the company's current earnings power may be insufficient to support its capital-intensive operations without relying on external financing or further support from its former parent's legacy credit arrangements.
The income statement fails to fully capture the potential liabilities associated with fixed-price contracts in an inflationary environment, which could lead to future project write-downs. Investors should investigate whether the current reliance on percentage-of-completion accounting is masking underlying project delays that could impact future cash flows.
Quick answers to the most common questions about buying CTRI stock.
For fiscal year 2025, Centuri Holdings, Inc. (CTRI) reported total revenue of $2.89B. This represents a 33.7% increase compared to $2.16B in 2021.
Centuri Holdings, Inc. (CTRI) is profitable, generating $22.4M in net income for the fiscal year ending 2025 with a net profit margin of 0.8%.
Centuri Holdings, Inc. (CTRI) reported an operating income of $92.8M, resulting in an operating profit margin of 3.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Centuri Holdings, Inc. (CTRI) generated $246.6M in gross profit for the year, representing a gross profit margin of 8.5%. This demonstrates the company's core pricing power and production efficiency.