Shares of Centuri Holdings Inc. (CTRI) plummeted 6.36% in pre-market trading on Wednesday following the release of its second-quarter 2025 financial results. The company's earnings fell short of analyst expectations, overshadowing a revenue beat and an improved full-year outlook.

Centuri reported adjusted earnings per share of $0.19 for the quarter, missing the analyst consensus estimate of $0.24 by 20.5%. This represents a 5% decrease from the $0.20 per share earned in the same period last year. Despite the earnings miss, the company's quarterly revenue came in at $724.1 million, surpassing the analyst estimate of $704.9 million by 2.72% and marking a 7.7% increase from the $672.1 million reported in the second quarter of 2024.

While Centuri raised its full-year 2025 revenue outlook to $2.70-$2.85 billion from the previously announced $2.60-$2.80 billion, investors seem to be focusing on the earnings shortfall and the decline in net income. The company's net income attributable to common stock fell to $8.1 million from $11.7 million in the same quarter last year. This mixed financial performance, with strong top-line growth but weaker profitability, appears to be driving the negative market reaction despite the company's efforts to highlight its robust bookings and strategic initiatives aimed at enhancing overall margins.