Overview

• Utility infrastructure services firm's Q4 revenue up 20%, beating analyst expectations

• Adjusted EBITDA for Q4 beat analyst expectations

• Company acquired Connect Atlantic Utility Services, expanding Canadian operations

Outlook

• Centuri forecasts 2026 revenue between $3.24 bln and $3.54 bln

• Company expects 2026 adjusted EBITDA of $280 mln to $310 mln

• Centuri targets 2026 adjusted net income of $55 mln to $75 mln

Result Drivers

• SEGMENT GROWTH - Revenue growth was broad-based with Canadian operations leading at 37% growth, followed by Union Electric at 22% and Non-Union Electric at 17%

• ACQUISITION IMPACT - Acquisition of Connect Atlantic Utility Services expanded electric services in Canadian operations

• BASE REVENUE DRIVERS - Base revenue growth driven by higher work hours under MSA across segments and increased project activity in industrial and electrical substation infrastructure

Company press release: ID:nBw8wsXn3a

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the construction & engineering peer group is "buy"

• Wall Street's median 12-month price target for Centuri Holdings Inc is $28.00, about 9.6% below its February 24 closing price of $30.96

• The stock recently traded at 40 times the next 12-month earnings vs. a P/E of 24 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)