CTRI on NYSE

Centuri Holdings, Inc.

American natural gas transmisison and distribution company.

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Last updated Oct 18, 2026.

Overview

Compare with Brookfield Infrastructure Corp, Southwest Gas or Chesapeake Utilities, or pick any stock.

  • TickerCTRI on NYSE
  • IndustryNatural Gas Transmisison & Distribution
  • HeadquartersDE
  • Incorporated inDE2
  • Business address19820 North 7Th Avenue Suite 120, Phoenix, Az 850272
  • Filer categoryLarge accelerated filer2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

8.3%Gross margin3
3.1%Operating margin3
0.8%Net margin3
13.1%Revenue growth, 20253
2.6%Return on equity3
0.81×Debt to equity3
-$8.2MFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Master Services Agreement brought in 78% of the revenue Centuri Holdings, Inc. broke down this way in fiscal 2025.

  1. Master Services Agreement$2.3B378%up 10% from 2024
  2. Bid Contract$655.8M322%up 27% from 2024
Products and services by year
Products and services202320242025
Master Services Agreement$2.4B$2.1B$2.3B
Bid Contract$510.6M$516.1M$655.8M

Business segments

U.S. Gas brought in 45% of the revenue Centuri Holdings, Inc. broke down this way in fiscal 2025.

  1. U.S. Gas$1.3B345%up 5% from 2024
  2. Union Electric$808.3M327%up 17% from 2024
  3. Non-Union Electric$599.4M320%up 24% from 2024
  4. Canadian Operations$246.9M38%up 25% from 2024
Business segments by year
Business segments202320242025
U.S. Gas$1.4B$1.3B$1.3B
Union Electric$833.1M$693.5M$808.3M
Non-Union Electric$473.9M$485.3M$599.4M
Canadian Operations$234.8M$197.9M$246.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue92¢$2.7B
  • Selling, general and admin4¢$126.5M
  • Other costs3¢$89.6M
  • Income tax0¢$8.1M
  • Profit1¢$22.4M

Out of $3.0B in revenue.3

Where each dollar of operating cash went, fiscal 2025

  • Capital spending100¢$86.3M

Out of $78.1M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.3

Financial statements

Revenue3$3.0B in 2025+3% since 2023
0$1.0B$2.0B$3.0B2023: $2.9B$2.9B20232024: $2.6B$2.6B2024−9%2025: $3.0B$3.0B2025+13%
Gross profit3$246.6M in 2025−10% since 2023
0$100.0M$200.0M$300.0M2023: $273.4M$273.4M20232024: $220.7M$220.7M2024−19%2025: $246.6M$246.6M2025+12%
Operating income3$92.8M in 2025
-$100.0M-$50.0M0$50.0M$100.0M2023: -$77.6M-$77.6M20232024: $86.8M$86.8M20242025: $92.8M$92.8M2025+7%
Net income3$22.4M in 2025
-$200.0M-$100.0M0$100.0M2023: -$186.2M-$186.2M20232024: -$6.7M-$6.7M2024−96%2025: $22.4M$22.4M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.3

Period ending2025-12-312024-12-312023-12-31
Total revenue, net$3.0B$2.6B$2.9B
Total cost of revenue$2.7B$2.4B$2.6B
Gross profit$246.6M$220.7M$273.4M
Selling, general and administrative expenses$126.5M$107.2M$110.3M
Amortization of intangible assets$27.3M$26.6M$26.7M
Goodwill impairment$0$0$214.0M
Operating income (loss)$92.8M$86.8M-$77.6M
Interest expense, net$78.4M$90.5M$97.5M
Other income, net-$194.0K-$376.0K-$64.0K
Income (loss) before income taxes$14.6M-$3.4M-$175.0M
Income tax (benefit) expense-$8.1M$3.5M$9.5M
Net income (loss)$22.6M-$6.8M-$184.5M
Net income (loss) attributable to noncontrolling interests$255.0K-$98.0K$1.7M
Net income (loss) attributable to common stock$22.4M-$6.7M-$186.2M
Basic (in USD per share)$0.25-$0.08-$2.60
Diluted (in USD per share)$0.25-$0.08-$2.60
Weighted average basic shares outstanding (in shares)90.0M shares83.3M shares71.7M shares
Weighted average diluted shares outstanding (in shares)90.3M shares83.3M shares71.7M shares

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Leadership

Who has led Centuri Holdings, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. William Fehrman2024
  2. Paul J. Caudill2024
  3. Christian Brown2024–now

Chief financial officer

  1. Gregory A. Izenstark2024–now
2025
Board members and other officers (18)

Timeline

  1. Dec 5, 2024New chief executive Christian Brown becomes CEO9
  2. Aug 1, 2024New chief executive Paul J. Caudill becomes CEO8
  3. Apr 17, 2024New chief executive William Fehrman becomes CEO7

Filings

201 filings to the SEC since October 2021: 2 annual reports, 8 quarterly reports, 29 major events, 97 insider forms, 21 large holders, 44 other. The latest 20:

  1. Sep 21, 20264 EDGAR
  2. Aug 19, 20264/A EDGAR
  3. Aug 19, 20264/A EDGAR
  4. Aug 14, 2026SCHEDULE 13G EDGAR
  5. Aug 12, 20264 EDGAR
  6. Aug 12, 20264 EDGAR
  7. Aug 12, 20263 EDGAR
  8. Aug 12, 20263 EDGAR
  9. Aug 12, 20268-K EDGAR
  10. Aug 6, 20263 EDGAR
  11. Aug 6, 20263 EDGAR
  12. Aug 6, 20263 EDGAR
  13. Aug 6, 20263 EDGAR
  14. Aug 4, 202610-Q EDGAR
  15. Aug 4, 20268-K EDGAR
  16. Jul 27, 2026SCHEDULE 13G/A EDGAR
  17. Jul 10, 2026S-8 EDGAR
  18. May 22, 20268-K EDGAR
  19. May 20, 20264 EDGAR
  20. May 20, 20264 EDGAR

The 201 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 21 such filings since October 2021, the latest 10:

  1. Aug 14, 2026SCHEDULE 13G
  2. Jul 27, 2026SCHEDULE 13G/A
  3. Mar 26, 2026SCHEDULE 13G/A
  4. Jan 30, 2026SCHEDULE 13G/A
  5. Nov 13, 2025SCHEDULE 13D
  6. Nov 5, 2025SCHEDULE 13G/A
  7. Oct 30, 2025SCHEDULE 13G
  8. Oct 17, 2025SCHEDULE 13G
  9. Sep 5, 2025SCHEDULE 13G/A
  10. Sep 5, 2025SCHEDULE 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Icahn Carl C14,336,044$433.5M5.2%No change
BlackRock, Inc.6,881,738$208.1M0.0%−311,692
Carronade Capital Management, LP5,516,741$166.8M2.9%+953,429
Fmr LLC5,381,938$162.7M0.0%−811,527
D. E. Shaw & Co., Inc.4,935,944$149.3M0.1%+221,194
Hill City Capital, LP4,030,000$121.9M2.8%No change
Vanguard Portfolio Management LLC3,844,587$116.3M0.0%−428,821
Vanguard Capital Management LLC3,786,058$114.5M0.0%−456,011
Two Sigma Investments, LP2,584,448$78.2M0.1%−130,072
Geode Capital Management, LLC2,437,856$73.7M0.0%+475,675
Federated Hermes, Inc.2,348,200$71.0M0.1%+404,073
Verbena Value LP2,196,660$66.4M11.0%+425,203
State Street Corp2,096,182$63.4M0.0%+142,394
Nomura Asset Management International Inc.1,789,635$54.1M0.1%−85,690
Wellington Management Group Llp1,656,520$50.1M0.0%−285,318
Goldman Sachs Group Inc1,552,762$47.0M0.0%+104,886
Qube Research & Technologies Ltd1,547,766$46.8M0.1%−390,514
Assenagon Asset Management S.A.1,531,256$46.3M0.0%New
Dimensional Fund Advisors LP1,480,760$44.8M0.0%+590,738
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.1,475,451$44.6M0.1%+112,333
Tensile Capital Management LP1,467,046$44.4M6.1%−124,197
Morgan Stanley1,430,420$43.3M0.0%+169,942
Neuberger Berman Group LLC1,340,008$40.6M0.0%+752,942
Schonfeld Strategic Advisors LLC1,015,787$30.7M0.2%−710,089
Conversant Capital LLC950,000$28.7M3.4%+95,000

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

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