CTRI on NYSE
Centuri Holdings, Inc.
American natural gas transmisison and distribution company1
In its 2026 annual report the company says: “We are a leading North American utility and energy infrastructure services company with over 115 years of operating history, and we partner with regulated utilities to maintain, upgrade and expand the energy network that powers millions of homes and businesses. We serve as a long-term strategic partner to, and an extension of, North America’s electric, gas, and combination utility providers, delivering a wide range of infrastructure solutions that ensure safe, reliable and environmentally sustainable energy operations.”4 It is headquartered in Phoenix, Arizona.1
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Last updated Oct 21, 2026.
Overview
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- TickerCTRI on NYSE1
- IndustryNatural Gas Transmisison & Distribution1
- HeadquartersPhoenix, Arizona1
- Incorporated inDE2
- Business address19820 North 7Th Avenue Suite 120, Phoenix, Az 850272
- Filer categoryLarge accelerated filer2
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We are a leading North American utility and energy infrastructure services company with over 115 years of operating history, and we partner with regulated utilities to maintain, upgrade and expand the energy network that powers millions of homes and businesses. We serve as a long-term strategic partner to, and an extension of, North America’s electric, gas, and combination utility providers, delivering a wide range of infrastructure solutions that ensure safe, reliable and environmentally sustainable energy operations. Our service offerings primarily consist of the modernization of utility infrastructure through the replacement, maintenance, retrofitting, and installation of electric and natural gas distribution and utility-scale transmission networks and building capacity to meet current and future demands. We also serve complementary, attractive and growing end markets such as distribu…4 From its latest annual report
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 margin5
3.1%Operating margin5
0.8%Net margin5
13.1%Revenue growth, 20255
2.6%Return on equity5
0.81×Debt to equity5
-$8.2MFree cash flow5
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.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| 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.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| 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.5
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.5
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| 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 shares | 83.3M shares | 71.7M shares |
| Weighted average diluted shares outstanding (in shares) | 90.3M shares | 83.3M shares | 71.7M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $126.6M | $49.0M | $33.4M | |
| Accounts receivable, net | $314.7M | $281.4M | ||
| Contract assets | $395.1M | $238.2M | $269.8M | |
| Prepaid expenses and other current assets | $45.0M | $32.8M | ||
| Total current assets | $881.4M | $601.4M | ||
| Property and equipment, net | $466.8M | $511.3M | ||
| Intangible assets, net | $343.2M | $340.9M | ||
| Goodwill, net | $395.7M | $368.3M | $375.9M | |
| Right-of-use assets under finance leases | $24.4M | $33.8M | ||
| Right-of-use assets under operating leases | $176.4M | $104.1M | ||
| Other assets | $119.7M | $114.6M | ||
| Total assets | $2.4B | $2.1B | ||
| Current portion of long-term debt | $29.5M | $30.0M | ||
| Current portion of finance lease liabilities | $7.5M | $9.3M | ||
| Current portion of operating lease liabilities | $30.3M | $18.7M | ||
| Accounts payable | $193.6M | $125.7M | ||
| Accrued expenses and other current liabilities | $185.0M | $173.6M | ||
| Contract liabilities | $50.5M | $25.0M | $43.7M | |
| Total current liabilities | $496.4M | $382.3M | ||
| Long-term debt, net of current portion | $616.9M | $730.3M | ||
| Line of credit | $91.2M | $113.5M | ||
| Finance lease liabilities, net of current portion | $9.2M | $15.0M | ||
| Operating lease liabilities, net of current portion | $153.5M | $91.7M | ||
| Deferred income taxes | $78.4M | $115.1M | ||
| Other long-term liabilities | $83.8M | $66.1M | ||
| Total liabilities | $1.5B | $1.5B | ||
| Redeemable noncontrolling interests | $5.4M | $4.7M | ||
| Common stock | $1.0M | $885.0K | ||
| Additional paid-in capital | $1.0B | $718.6M | ||
| Accumulated other comprehensive loss | -$7.4M | -$13.2M | ||
| Accumulated deficit | -$128.4M | -$150.7M | ||
| Total equity | $873.0M | $555.6M | $226.0M | $386.8M |
| Total liabilities, temporary equity and equity | $2.4B | $2.1B | ||
| Common stock, par value (in USD per share) | $0.01 | $0.01 | ||
| Common stock authorized (in shares) | 850.0M shares | 850.0M shares | ||
| Common stock issued (in shares) | 100.7M shares | 88.5M shares | ||
| Common stock outstanding (in shares) | 100.7M shares | 88.5M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $126.6M | $49.0M | $33.4M | |
| Accounts receivable, net | $314.7M | $281.4M | ||
| Contract assets | $395.1M | $238.2M | $269.8M | |
| Prepaid expenses and other current assets | $45.0M | $32.8M | ||
| Total current assets | $881.4M | $601.4M | ||
| Property and equipment, net | $466.8M | $511.3M | ||
| Intangible assets, net | $343.2M | $340.9M | ||
| Goodwill, net | $395.7M | $368.3M | $375.9M | |
| Right-of-use assets under finance leases | $24.4M | $33.8M | ||
| Right-of-use assets under operating leases | $176.4M | $104.1M | ||
| Other assets | $119.7M | $114.6M | ||
| Total assets | $2.4B | $2.1B | ||
| Current portion of long-term debt | $29.5M | $30.0M | ||
| Current portion of finance lease liabilities | $7.5M | $9.3M | ||
| Current portion of operating lease liabilities | $30.3M | $18.7M | ||
| Accounts payable | $193.6M | $125.7M | ||
| Accrued expenses and other current liabilities | $185.0M | $173.6M | ||
| Contract liabilities | $50.5M | $25.0M | $43.7M | |
| Total current liabilities | $496.4M | $382.3M | ||
| Long-term debt, net of current portion | $616.9M | $730.3M | ||
| Line of credit | $91.2M | $113.5M | ||
| Finance lease liabilities, net of current portion | $9.2M | $15.0M | ||
| Operating lease liabilities, net of current portion | $153.5M | $91.7M | ||
| Deferred income taxes | $78.4M | $115.1M | ||
| Other long-term liabilities | $83.8M | $66.1M | ||
| Total liabilities | $1.5B | $1.5B | ||
| Redeemable noncontrolling interests | $5.4M | $4.7M | ||
| Common stock | $1.0M | $885.0K | ||
| Additional paid-in capital | $1.0B | $718.6M | ||
| Accumulated other comprehensive loss | -$7.4M | -$13.2M | ||
| Accumulated deficit | -$128.4M | -$150.7M | ||
| Total equity | $873.0M | $555.6M | $226.0M | $386.8M |
| Total liabilities, temporary equity and equity | $2.4B | $2.1B | ||
| Common stock, par value (in USD per share) | $0.01 | $0.01 | ||
| Common stock authorized (in shares) | 850.0M shares | 850.0M shares | ||
| Common stock issued (in shares) | 100.7M shares | 88.5M shares | ||
| Common stock outstanding (in shares) | 100.7M shares | 88.5M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | $22.6M | -$6.8M | -$184.5M |
| Depreciation | $111.5M | $108.7M | $118.8M |
| Amortization of intangible assets | $27.3M | $26.6M | $26.7M |
| Amortization of debt issuance costs | $3.6M | $5.3M | $4.5M |
| Non-cash loss on debt extinguishment | $2.7M | $1.7M | $0 |
| Non-cash stock-based compensation expense | $8.1M | $2.2M | $1.9M |
| Goodwill impairment | $0 | $0 | $214.0M |
| Gain on sale of equipment | -$7.4M | -$3.6M | -$4.5M |
| Amortization of right-of-use assets | $22.4M | $20.7M | $17.4M |
| Deferred income taxes | -$14.1M | -$5.1M | -$7.8M |
| Other non-cash items | $0 | $841.0K | $0 |
| Prepaid expenses and other assets | -$7.5M | -$5.7M | -$2.4M |
| Accounts payable | $60.9M | $7.6M | -$26.8M |
| Income tax assets and liabilities | $2.9M | -$620.0K | $3.1M |
| Payments made on operating lease liabilities | -$27.8M | -$26.5M | -$21.9M |
| Contract liabilities | $20.1M | -$18.6M | $7.9M |
| Accrued expenses and other liabilities | $27.1M | -$8.8M | $5.5M |
| Net cash provided by operating activities | $78.1M | $158.2M | $167.5M |
| Capital expenditures | -$86.3M | -$99.3M | -$106.7M |
| Proceeds from sale of property and equipment | $44.0M | $10.0M | $11.8M |
| Acquisition of business, net of cash acquired | -$45.8M | $0 | $0 |
| Net cash used in investing activities | -$88.2M | -$89.4M | -$94.8M |
| Proceeds from public offerings and private placements, net of offering costs paid | $250.9M | $327.7M | $0 |
| Proceeds from line of credit borrowings | $220.2M | $353.8M | $197.1M |
| Payment of line of credit borrowings | -$246.7M | -$310.7M | -$203.8M |
| Proceeds from long-term debt borrowings, net | $242.9M | $0 | $0 |
| Principal payments on long-term debt | -$364.7M | -$318.7M | -$44.6M |
| Principal payments on finance lease liabilities | -$9.4M | -$11.3M | -$12.1M |
| Redemption of redeemable noncontrolling interest | $0 | -$92.9M | -$39.9M |
| Payment of debt issuance costs | -$3.2M | $0 | $0 |
| Other | -$1.4M | -$438.0K | -$213.0K |
| Net cash provided by (used in) financing activities | $88.8M | -$52.6M | -$103.4M |
| Effects of foreign exchange translation | $365.0K | -$624.0K | $273.0K |
| Net increase (decrease) in cash and cash equivalents | $79.0M | $15.6M | -$30.6M |
No quarter-by-quarter statement was filed.
Corporate structure
Centuri Holdings, Inc. sits at the top of its group. 39 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Centuri Holdings, Inc.
- CARRONADE CAPITAL MANAGEMENT, LP Filed SCHEDULE 13G on Centuri Holdings, Inc., latest Aug 14, 2026
- BlackRock Filed SCHEDULE 13G/A on Centuri Holdings, Inc., latest Jul 27, 2026 (2 filings since Oct 17, 2025)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Centuri Holdings, Inc., latest Mar 26, 2026 (3 filings since Oct 30, 2025)
- Carl C. Et Al Icahn Filed SCHEDULE 13D on Centuri Holdings, Inc., latest Nov 13, 2025 (5 filings since May 23, 2025)
- FMR LLC Filed SCHEDULE 13G/A on Centuri Holdings, Inc., latest Nov 5, 2025 (4 filings since Feb 12, 2025)
- Southwest Gas Filed SCHEDULE 13G/A on Centuri Holdings, Inc., latest Sep 5, 2025 (6 filings since Nov 13, 2024)
- Centuri Holdings, Inc. Phoenix, Arizona
- Canyon Pipeline Construction, Inc. Subsidiary · Nevada, United States
- Canyon Special Projects LLC Subsidiary · Nevada, United States
- Canyon Traffic Control LLC Subsidiary · Nevada, United States
- Centuri Canada Division Inc. Subsidiary · Ontario, Canada
- Centuri Group, Inc. Subsidiary · Nevada, United States
- Centuri Oil & Gas Group LLC Subsidiary · Delaware, United States
- Centuri Power Group LLC Subsidiary · Delaware, United States
- Centuri Services Group LLC Subsidiary · Delaware, United States
- Centuri Special Purpose Entity, LLC Subsidiary · Delaware, United States
- Centuri U.S. Division, Inc. Subsidiary · Nevada, United States
- Connect Atlantic Utility Services Corporation Subsidiary · Nova Scotia, Canada
- Drum Parent LLC Subsidiary · Delaware, United States
- Electric T&D Division LLC Subsidiary · Delaware, United States
- Electric T&D Holdings LLC Subsidiary · Delaware, United States
- Intellichoice Energy of California, LLC Subsidiary · Delaware, United States
- Intellichoice Energy, LLC Subsidiary · Delaware, United States
- Linetec Services, LLC Subsidiary · Delaware, United States
- Meritus Electric T&D Division LLC Subsidiary · Delaware, United States
- Meritus Oil & Gas Division LLC Subsidiary · Delaware, United States
- Meritus Services Division LLC Subsidiary · Delaware, United States
- Mid-America Construction Services LLC Subsidiary · Delaware, United States
- National Barricade LLC Subsidiary · Nevada, United States
- National Powerline LLC Subsidiary · Delaware, United States
- Neuco Equipment LLC Subsidiary · Nevada, United States
- New England Utility Constructors, Inc. Subsidiary · Massachusetts, United States
- and 13 more
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Centuri Holdings, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $1.2B5 Dec 28, 2025 | $1.1B5 Dec 29, 2024 | +3.3% |
| Accumulated depreciation | $693.7M5 Dec 28, 2025 | $612.6M5 Dec 29, 2024 | +13.2% |
| Property and equipment, net | $466.8M5 Dec 28, 2025 | $511.3M5 Dec 29, 2024 | −8.7% |
| Finance-lease assets | $24.4M5 Dec 28, 2025 | $33.8M5 Dec 29, 2024 | −27.7% |
| Operating-lease assets (leased space) | $176.4M5 Dec 28, 2025 | $104.1M5 Dec 29, 2024 | +69.4% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $126.6M5 Dec 28, 2025 | $49.0M5 Dec 29, 2024 | +158.3% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $395.7M5 Dec 28, 2025 | $368.3M5 Dec 29, 2024 | +7.4% |
| Intangible assets, net (excluding goodwill) | $343.2M5 Dec 28, 2025 | $340.9M5 Dec 29, 2024 | +0.7% |
| Finite-lived intangibles, gross | $499.3M5 Dec 28, 2025 | $468.9M5 Dec 29, 2024 | +6.5% |
| Accumulated amortization | $156.1M5 Dec 28, 2025 | $128.0M5 Dec 29, 2024 | +22.0% |
| Finite-lived intangibles, net | $343.2M5 Dec 28, 2025 | $340.9M5 Dec 29, 2024 | +0.7% |
Properties, in its own words
Centuri currently maintains its principal executive offices at 19820 North 7th Avenue, Suite 120, Phoenix, Arizona 85027. Including the principal office, Centuri operates in 97 primary locations across 46 states in the U.S. and six Canadian provinces, and these locations are used across our different reportable segments. As of December 28, 2025, Centuri maintained 117 long-term (greater than 12 months) facility leases across its areas of operations and eight owned properties. Centuri considers its facilities suitable and adequate for the purposes of which they are used and does not anticipate difficulty in renewing existing leases as they expire or in finding alternative facilities.
Item 2 of the 10-K filed Feb 26, 2026.4
Leadership
Who has led Centuri Holdings, Inc., and when. Pick a name to see everywhere that person has worked.
Chief financial officer
2025
- Chief executive officerWilliam Fehrman Apr 17, 2024 to Apr 22, 20249
- Chief executive officerPaul J. Caudill Aug 1, 2024 to Aug 1, 202410
- Chief executive officerChristian Brown Dec 5, 2024 to now11
- Chief financial officerGregory A. Izenstark Apr 17, 2024 to now12
Board members and other officers (18)
- OfficerBrent Hooper Aug 6, 2026 to now13
- OfficerNeil Waugh Aug 6, 2026 to now14
- OfficerRyan Palazzo Aug 6, 2026 to now15
- OfficerStephen M. Zemaitatis Jr. Aug 6, 2026 to now16
- OfficerDanielle E. Hunter Aug 12, 2026 to now17
- OfficerKelly Youngblood Aug 12, 2026 to now18
- OfficerJason S. Wilcock Apr 17, 2024 to now19
- OfficerJames W. Connell Jr. Jul 2, 2024 to now20
- VP, Corporate ControllerKendra Chilton Nov 22, 2024 to now21
- Board memberSteven E. Nielsen Mar 25, 2026 to now22
- Board memberChristian Brown Feb 27, 2025 to now23
- Board memberDustin Demaria Nov 19, 2025 to now24
- Board memberAnne L. Mariucci Apr 17, 2024 to now25
- Board memberCharles R. Patton Apr 17, 2024 to now26
- Board memberChristopher A. Krummel Apr 17, 2024 to now27
- Board memberJulie Dill Apr 17, 2024 to now28
- Board memberKaren S. Haller Apr 17, 2024 to now29
- Board memberWilliam Fehrman Apr 17, 2024 to Aug 1, 20249
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Canyon Pipeline Construction, Inc. Nevada3
- Canyon Special Projects LLC Nevada3
- Canyon Traffic Control LLC Nevada3
- Centuri Canada Division Inc. Ontario, Canada3
- Centuri Group, Inc. Nevada3
- Centuri Holdings, Inc. Delaware3
- Centuri Oil & Gas Group LLC Delaware3
- Centuri Power Group LLC Delaware3
- Centuri Services Group LLC Delaware3
- Centuri Special Purpose Entity, LLC Delaware3
- Centuri U.S. Division, Inc. Nevada3
- Connect Atlantic Utility Services Corporation Nova Scotia, Canada3
- Drum Parent LLC Delaware3
- Electric T&D Division LLC Delaware3
- Electric T&D Holdings LLC Delaware3
- Intellichoice Energy of California, LLC Delaware3
- Intellichoice Energy, LLC Delaware3
- Linetec Services, LLC Delaware3
- Meritus Electric T&D Division LLC Delaware3
- Meritus Oil & Gas Division LLC Delaware3
- Meritus Services Division LLC Delaware3
- Mid-America Construction Services LLC Delaware3
- NPL Canada Ltd. Ontario, Canada3
- NPL East LLC Delaware3
All 39 listed subsidiaries
- NPL Great Lakes LLC Delaware3
- NPL Mid-America LLC Delaware3
- NPL West LLC Delaware3
- National Barricade LLC Nevada3
- National Powerline LLC Delaware3
- Neuco Equipment LLC Nevada3
- New England Utility Constructors, Inc. Massachusetts3
- Oil & Gas Division LLC Delaware3
- Riggs Distler & Company, Inc. Maryland3
- Riggs Gas LLC Delaware3
- Services Division LLC Delaware3
- Shelby Mechanical LLC Delaware3
- Shelby Plumbing, LLC New Jersey3
- Southwest Administrators, Inc. Nevada3
- W.S. Nicholls Western Construction Ltd. Federal, Canada3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Aug 12, 20268-K Executive or director change; Regulation FD disclosure30
- Aug 4, 20268-K Results of operations31
- May 22, 20268-K Shareholder vote32
- May 6, 20268-K Results of operations33
- Mar 20, 20268-K Executive or director change; Regulation FD disclosure34
- Feb 25, 20268-K Results of operations35
- Dec 23, 20258-K Executive or director change36
- Nov 14, 20258-K Entered a material agreement; Unregistered sale of shares37
- Nov 12, 20258-K Entered a material agreement; Executive or director change; Regulation FD disclosure38
- Nov 5, 20258-K Results of operations39
- Sep 5, 20258-K Other events40
- Aug 11, 20258-K Entered a material agreement; Other events41
- Dec 5, 2024New chief executive Christian Brown becomes CEO11
- Aug 1, 2024New chief executive Paul J. Caudill becomes CEO10
- Apr 17, 2024New chief executive William Fehrman becomes CEO9
Calendar
Coming up
- Nov 4, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.17 a share, on Nov 5, 2025.42
When it reported results
- Aug 4, 2026Reported quarterly or annual results31
- May 6, 2026Reported quarterly or annual results33
- Feb 25, 2026Reported quarterly or annual results35
- Nov 5, 2025Reported quarterly or annual results39
- Aug 6, 2025Reported quarterly or annual results43
- May 12, 2025Reported quarterly or annual results44
- Feb 26, 2025Reported quarterly or annual results45
- Nov 6, 2024Reported quarterly or annual results46
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
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:
- Sep 21, 20264 EDGAR
- Aug 19, 20264/A EDGAR
- Aug 19, 20264/A EDGAR
- Aug 14, 2026SCHEDULE 13G EDGAR
- Aug 12, 20264 EDGAR
- Aug 12, 20264 EDGAR
- Aug 12, 20263 EDGAR
- Aug 12, 20263 EDGAR
- Aug 12, 20268-K EDGAR
- Aug 6, 20263 EDGAR
- Aug 6, 20263 EDGAR
- Aug 6, 20263 EDGAR
- Aug 6, 20263 EDGAR
- Aug 4, 202610-Q EDGAR
- Aug 4, 20268-K EDGAR
- Jul 27, 2026SCHEDULE 13G/A EDGAR
- Jul 10, 2026S-8 EDGAR
- May 22, 20268-K EDGAR
- May 20, 20264 EDGAR
- 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 five years, summarized. The full record is on SEC EDGAR.
Insider trades
19 open-market trades by officers, directors and large owners since October 2021: 13 buys and 6 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 18, 2026 | DeMaria DustinDirector | Buy | 5,200 | $19.27 | $100.2K | Form 4 |
| Dec 4, 2025 | Brown ChristianChief Executive Officer | Sale | 7,108 | $24.51 | $174.2K | Form 4 |
| Nov 14, 2025 | ICAHN CARL C10% owner | Buy | 3,488,372 | $21.50 | $75.0M | Form 4 |
| Sep 5, 2025 | Southwest Gas Holdings, Inc.10% owner | Sale | 27,362,210 | $19.60 | $536.3M | Form 4 |
| Aug 11, 2025 | Southwest Gas Holdings, Inc.10% owner | Sale | 18,823,500 | $19.50 | $367.1M | Form 4 |
| Jul 8, 2025 | Southwest Gas Holdings, Inc.10% owner | Sale | 1,060,240 | $20.75 | $22.0M | Form 4 |
| Jun 18, 2025 | Southwest Gas Holdings, Inc.10% owner | Sale | 11,212,500 | $20.75 | $232.7M | Form 4 |
| May 22, 2025 | Southwest Gas Holdings, Inc.10% owner | Sale | 13,207,142 | $17.50 | $231.1M | Form 4 |
| Mar 28, 2025 | Dill JulieDirector | Buy | 500 | $16.57 | $8.3K | Form 4 |
| Mar 26, 2025 | Dill JulieDirector | Buy | 500 | $16.63 | $8.3K | Form 4 |
| Jul 31, 2024 | Fehrman WilliamDirector | Buy | 20,000 | $16.50 | $330.0K | Form 4 |
| Apr 22, 2024 | Izenstark Gregory A.Chief Financial Officer | Buy | 5,250 | $21.00 | $110.2K | Form 4 |
| Apr 22, 2024 | Dill JulieDirector | Buy | 5,000 | $21.00 | $105.0K | Form 4 |
| Apr 22, 2024 | Krummel Christopher ADirector | Buy | 2,500 | $21.00 | $52.5K | Form 4 |
| Apr 22, 2024 | Patton Charles R.Director | Buy | 11,000 | $21.00 | $231.0K | Form 4 |
| Apr 22, 2024 | Wilcock Jason S.See Remarks | Buy | 5,000 | $21.00 | $105.0K | Form 4 |
| Apr 22, 2024 | Fehrman WilliamDirector | Buy | 25,000 | $21.00 | $525.0K | Form 4 |
| Apr 22, 2024 | Haller Karen SDirector | Buy | 12,000 | $21.00 | $252.0K | Form 4 |
| Apr 22, 2024 | MARIUCCI ANNE LDirector | Buy | 71,400 | $21.00 | $1.5M | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- CARRONADE CAPITAL MANAGEMENT, LPSCHEDULE 13G, 1 filing Aug 14, 202647
- BlackRockSCHEDULE 13G/A, 2 filings Oct 17, 2025 to Jul 27, 202648
- VANGUARD GROUP INCSCHEDULE 13G/A, 3 filings Oct 30, 2025 to Mar 26, 202649
- Carl C. Et Al IcahnSCHEDULE 13D, 5 filings May 23, 2025 to Nov 13, 202550
- FMR LLCSCHEDULE 13G/A, 4 filings Feb 12, 2025 to Nov 5, 202551
- Southwest GasSCHEDULE 13G/A, 6 filings Nov 13, 2024 to Sep 5, 202552
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Christian I. Brown | 56 | $1.1M | $4.3M53 |
| 2025 | Gregory A. Izenstark | 46 | $497.0K | $2.0M53 |
| 2025 | Jason S. Wilcock | 48 | $474.5K | $1.6M53 |
| 2025 | James W. Connell Jr. | $484.8K | $869.9K53 | |
| 2024 | President and Chief Executive Officer | $80.8K | $2.1M53 | |
| 2024 | Executive Vice PresidentChief Financial Officer | $440.0K | $1.9M53 | |
| 2024 | Former Executive Vice PresidentChief Commercial and Strategy Officer | $438.7K | $1.3M53 | |
| 2023 | Executive Vice PresidentChief Financial Officer | $316.4K | $1.2M53 |
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.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Icahn Carl C | 14,336,044 | $433.5M | 5.2% | No change |
| BlackRock, Inc. | 6,881,738 | $208.1M | 0.0% | −311,692 |
| Carronade Capital Management, LP | 5,516,741 | $166.8M | 2.9% | +953,429 |
| Fmr LLC | 5,381,938 | $162.7M | 0.0% | −811,527 |
| D. E. Shaw & Co., Inc. | 4,935,944 | $149.3M | 0.1% | +221,194 |
| Hill City Capital, LP | 4,030,000 | $121.9M | 2.8% | No change |
| Vanguard Portfolio Management LLC | 3,844,587 | $116.3M | 0.0% | −428,821 |
| Vanguard Capital Management LLC | 3,786,058 | $114.5M | 0.0% | −456,011 |
| Two Sigma Investments, LP | 2,584,448 | $78.2M | 0.1% | −130,072 |
| Geode Capital Management, LLC | 2,437,856 | $73.7M | 0.0% | +475,675 |
| Federated Hermes, Inc. | 2,348,200 | $71.0M | 0.1% | +404,073 |
| Verbena Value LP | 2,196,660 | $66.4M | 11.0% | +425,203 |
| State Street Corp | 2,096,182 | $63.4M | 0.0% | +142,394 |
| Nomura Asset Management International Inc. | 1,789,635 | $54.1M | 0.1% | −85,690 |
| Wellington Management Group Llp | 1,656,520 | $50.1M | 0.0% | −285,318 |
| Goldman Sachs Group Inc | 1,552,762 | $47.0M | 0.0% | +104,886 |
| Qube Research & Technologies Ltd | 1,547,766 | $46.8M | 0.1% | −390,514 |
| Assenagon Asset Management S.A. | 1,531,256 | $46.3M | 0.0% | New |
| Dimensional Fund Advisors LP | 1,480,760 | $44.8M | 0.0% | +590,738 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 1,475,451 | $44.6M | 0.1% | +112,333 |
| Tensile Capital Management LP | 1,467,046 | $44.4M | 6.1% | −124,197 |
| Morgan Stanley | 1,430,420 | $43.3M | 0.0% | +169,942 |
| Neuberger Berman Group LLC | 1,340,008 | $40.6M | 0.0% | +752,942 |
| Schonfeld Strategic Advisors LLC | 1,015,787 | $30.7M | 0.2% | −710,089 |
| Conversant Capital LLC | 950,000 | $28.7M | 3.4% | +95,000 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Centuri Holdings, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARCenturi Holdings, Inc.1
- CIK0001981599
- Employer ID (EIN)93-18177414
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inDelaware4
- Fiscal year endsJanuary 31
- Industry code (SIC)4923 Natural Gas Transmisison & Distribution1
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
- Business address19820 North 7Th Avenue Suite 120, Phoenix, AZ 850271
- Phone(623) 582-12351
- Shares outstanding100,963,053 as of Jul 31, 20267
- Public float$911.5M as of Jun 29, 20254
- AuditorPricewaterhouseCoopers LLP, Phoenix, Arizona PCAOB ID 238; it also attests to the company’s internal control over financial reporting4
- On EDGAR sinceSep 22, 20231
- Filings201 in all: 4 (70), 8-K (28), 3 (24), SCHEDULE 13G/A (14), 10-Q (8), 424B4 (5), CORRESP (5), SCHEDULE 13G (5)1
All 32 form types
144 (4), 424B3 (4), UPLOAD (4), 4/A (3), 10-K (2), 424B5 (2), ARS (2), DEF 14A (2), DEFA14A (2), EFFECT (2), S-8 (2), 424B7 (1), 8-A12B (1), 8-K/A (1), CERT (1), DRS (1), DRS/A (1), DRSLTR (1), S-1 (1), S-1/A (1), S-3 (1), S-3ASR (1), SC 13G (1), SCHEDULE 13D (1)
- Latest filingsAnnual report (10-K) Feb 26, 2026
Quarterly report (10-Q) Aug 4, 2026
Proxy statement (DEF 14A) Apr 6, 2026
Latest 8-K (8-K) Aug 12, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common stock, $0.01 par value | CTRI | New York Stock Exchange |
From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks Centuri Holdings, Inc. names in Item 1A of its 10-K filed Feb 26, 2026: 60 risks under these headings, as written.4
- Risks Related to Our Business and Industry
- Risks Related to Accounting Estimates, Judgments, Timing and Impacts Related to Taxation
- Financial, Economic, Environmental and Market Risks
- Risks Related to Ownership of Our Common Stock
- Risks Related to Our Operations
- The loss of, or reduction in business from, certain significant customers could have a material adverse effect on our business.
- Our financial and operating results may vary significantly from quarter-to-quarter and year-to-year. A variety of factors could adversely affect the timing or profitability of our projects, which may result in additional costs to us, reductions or delays in revenues, the payment of liquidated damages or project termination.
- We derive a significant portion of our revenues from long-term MSAs that may be cancelled by customers on short notice, or which we may be unable to renew on favorable terms or at all.
- Backlog may not be realized or may not result in revenue or profit.
- Our actual cost may be greater than expected in performing our contracts, causing us to realize significantly lower profit or experience losses on our projects.
- Fixed-price and unit-price contracts are subject to potential losses that could adversely affect our results of operations.
- The nature of our operations presents inherent risk of loss that could materially and adversely affect our results of operations and financial condition, earnings, and cash flows.
The other 53 risks
- We operate in a highly competitive industry, and competitive pressures could materially and adversely affect our business, which is largely dependent on the competitive bidding process.
- Any deterioration in the quality or reputation of our brands, which can be exacerbated by the effect of social media or significant media coverage, could have a material adverse impact on our business.
- We are self-insured against many potential liabilities, and there can be no assurance that our insurance coverages will be sufficient under all circumstances or against all claims to which we may be subject, which could expose us to significant liabilities and materially and adversely affect our business, financial condition, results of operations and cash flows.
- We may be unsuccessful at generating internal growth, which may materially and adversely affect our ability to expand our operations or grow our business.
- Changes to renewable portfolio standards and decreased demand for renewable energy projects could materially and adversely impact our future results of operations, financial condition, cash flows and liquidity.
- We may pursue acquisitions, which may not be successful and may divert financial and management resources. If we fail to integrate acquisitions successfully, we may experience operational challenges and risks which may have a material adverse effect on our business.
- Technological advancements and other market developments could materially and adversely affect our business.
- Systems and information technology interruptions and/or data security breaches could materially and adversely affect our operating results and ability to operate, and could result in harm to our reputation.
- Risks Related to Our Supply Chain, Equipment, Subcontractors and Other Parties
- Challenges relating to supply chain constraints have negatively affected, and may in the future negatively affect, our work mix and volumes, which could materially and adversely affect our results of operations overall.
- Our business could be negatively affected as a result of actions of activist stockholders.
- We are subject to the risk of changes in fuel costs, which could have a material adverse effect on our results of operations and cash flows.
- An increase in the prices or availability of certain customer-provided materials and commodities used in our business could materially and adversely affect our results of operations and cash flows.
- We may incur higher costs to lease, acquire and maintain equipment necessary for our operations, which could have a material adverse effect on our business, results of operations and cash flows.
- Our dependence on suppliers, subcontractors and equipment manufacturers could expose us to the risk of loss in our operations, which could have a material adverse effect on our business, results of operations and cash flows.
- Project performance issues, including those caused by third parties, or certain contractual obligations may result in additional costs to us, reductions or delays in revenues or the payment of penalties, including liquidated damages.
- Risks Related to Labor
- We depend on key personnel and we may not be able to operate and grow our business effectively if we lose the services of any of our key persons or are unable to attract and retain qualified and skilled personnel in the future.
- Failure to attract and retain an appropriately qualified employee workforce could materially and adversely affect our collective operations.
- Our unionized workforce and related obligations could materially and adversely affect our operations, lead to work stoppages or impact our ability to complete certain acquisitions.
- We participate in multiemployer pension plans which could create additional obligations and payment liabilities.
- Risks Related to Our Indebtedness and Additional Capital
- Our existing indebtedness or ability to incur additional indebtedness could materially and adversely affect our businesses and our ability to meet our obligations and pay dividends.
- We may not be able to generate sufficient cash to service all of our indebtedness and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful.
- Our variable rate indebtedness subjects us to interest rate risk and could have a material adverse effect on us.
- We may need additional capital in the future for working capital, capital expenditures or acquisitions, and we may not be able to access capital on favorable terms, or at all, which would impair our ability to operate our business or achieve our growth objectives.
- We may not be able to compete for, or work on, certain projects if we are not able to obtain necessary bonds, letters of credit, bank guarantees or other financial assurances.
- A downgrade in our debt rating could restrict our ability to access the capital markets.
- Our financial results are based upon estimates and assumptions that may differ from actual results.
- Our goodwill and other assets have been subject to impairment and may continue to be subject to impairment in the future.
- Changes in applicable tax laws and regulations could adversely affect our business.
- Our tax burden could increase as a result of ongoing or future tax audits.
- Risks Related to our Relationship with Southwest Gas Holdings
- We may be subject to certain contingent tax liabilities of Southwest Gas Holdings for taxable years in which we were a member of its consolidated group.
- Potential indemnification liabilities to Southwest Gas Holdings pursuant to the Separation Agreement could materially and adversely affect our businesses, financial condition, results of operations and cash flows.
- In connection with the Separation, Southwest Gas Holdings has indemnified us for certain liabilities. However, there can be no assurance that the indemnity will be sufficient to insure us against the full amount of such liabilities, or that Southwest Gas Holdings’ ability to satisfy its indemnification obligation will not be impaired in the future.
- We may have received better terms from unaffiliated third parties than the terms we received in our agreements with Southwest Gas Holdings.
- Our ability to use our net operating loss carryforwards and other tax attributes may be limited due to certain provisions of the Internal Revenue Code or state tax law.
- Certain of our costs, such as operating expenses and interest expenses, could be adversely impacted by periods of heightened inflation, which could have a material adverse effect on our results of operations.
- Our customers’ budgetary constraints, regulatory support or decisions, and financial condition could materially and adversely impact work awarded.
- Unfavorable economic, market or regulatory conditions affecting the financial services industry or capital investment could reduce capital expenditures in the industries we serve or could otherwise materially and adversely affect our customers, which could result in decreased demand for our services.
- We are subject to risks associated with climate change, and weather conditions in our operating areas can materially and adversely affect operations, financial position, and cash flows.
- Risks associated with operating in the Canadian market could restrict our ability to expand and materially harm our business and prospects.
- Regulatory, Legislative and Legal Risks
- In the ordinary course of our business, we may become subject to lawsuits, indemnity or other claims, which could materially and adversely affect our business, results of operations and cash flows.
- Our failure to recover adequately on claims against project owners, subcontractors or suppliers for payment or performance could have a material adverse effect on our financial results.
- The nature of our business exposes us to potential liability for warranty claims and faulty engineering, which may reduce our profitability.
- Many of our customers are regulated by federal and state government agencies and the addition of new regulations or changes to existing regulations may adversely impact demand for our services and the profitability of those services.
- Legislative or regulatory actions relating to natural gas and electricity transmission and distribution may impact demand for our services.
- Compliance with the regulations of the U.S. Occupational Safety and Health Administration (“OSHA”) can be costly, and non-compliance with such requirements may result in potentially significant monetary penalties, operational delays or shutdowns, negative publicity and materially and adversely affect our financial condition.
- Our failure to comply with environmental and other laws and regulations could result in significant liabilities.
- The price of our common stock may fluctuate significantly.
- If we are unable to implement and maintain effective internal control over financial reporting in the future, investors may lose confidence in the accuracy and completeness of our financial reports, the market price of our common stock may be materially and adversely affected and we may suffer harm to our reputation.
- Future sales by the Icahn Group and other holders of shares of our common stock, or the perception that such sales may occur, could cause the price of our common stock to decline, potentially materially.
- The market price of shares of our common stock may be volatile, which could cause the value of our stockholders’ investment to decline, potentially significantly.
- We do not intend to pay dividends on our common stock for the foreseeable future.
- Our stockholders’ percentage ownership in us may be diluted in the future.
- Certain provisions in our Charter and Bylaws, and of Delaware law, may prevent or delay an acquisition of us, which could have a material adverse effect on the trading price of our common stock.
Legal proceedings
For discussion regarding legal proceedings, please refer to “Note 18 — Commitments and Contingencies” in the accompanying notes to our consolidated financial statements.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 13SEC EDGARBrent Hooper, Officer
- 14SEC EDGARNeil Waugh, Officer
- 15SEC EDGARRyan Palazzo, Officer
- 16SEC EDGARStephen M. Zemaitatis Jr., Officer
- 17SEC EDGARDanielle E. Hunter, Officer
- 18SEC EDGARKelly Youngblood, Officer
- 19SEC EDGARJason S. Wilcock, Officer
- 20SEC EDGARJames W. Connell Jr., Officer
- 21
- 22SEC EDGARSteven E. Nielsen, Board member
- 23SEC EDGARChristian Brown, Board member
- 24SEC EDGARDustin Demaria, Board member
- 25SEC EDGARAnne L. Mariucci, Board member
- 26SEC EDGARCharles R. Patton, Board member
- 27SEC EDGARChristopher A. Krummel, Board member
- 28SEC EDGARJulie Dill, Board member
- 29SEC EDGARKaren S. Haller, Board member
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- 31SEC EDGARResults of operations
- 32SEC EDGARShareholder vote
- 33SEC EDGARResults of operations
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- 35SEC EDGARResults of operations
- 36SEC EDGARExecutive or director change
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- 39SEC EDGARResults of operations
- 40SEC EDGAROther events
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- 42NasdaqNasdaq calendar
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