Centuri Holdings Inc. (CTRI) surged 5.23% in pre-market trading on Wednesday, following the release of its fourth quarter and full year 2025 financial results that exceeded analyst expectations and provided strong forward guidance.

The utility infrastructure services company reported record quarterly revenue of $858.6 million, a 20% increase year-over-year and significantly above the consensus estimate of $740.6 million. Adjusted EBITDA for the quarter reached $77.7 million, beating expectations of $72 million. For the full year, Centuri achieved record annual revenue of $2.983 billion, representing 13% growth over 2024.

Investors responded positively to the company's robust backlog, which increased 59% year-over-year to $5.9 billion, and its 2026 revenue guidance of $3.24 to $3.54 billion. The company's base revenue guidance of $3.15 to $3.45 billion also surpassed the FactSet estimate of $3.14 billion. Additionally, Centuri highlighted improved financial health, having reduced its net debt to adjusted EBITDA ratio to 2.5x from 3.6x at the end of 2024, following its complete separation from its former parent company.