CTRI

EX-99.1

2 centuriholdingsincex-991xq.htm

EX-99.1

Document

Exhibit 99.1

PRESS RELEASE

Contacts:For Centuri investors, contact:For Centuri media information, contact:

Nate TetlowJennifer Russo

(480) 851-8426(602) 781-6958

Ntetlow@centuri.comJRusso@Centuri.com

FOR IMMEDIATE RELEASE

August 4, 2026

CENTURI REPORTS SECOND QUARTER 2026 RESULTS AND RAISES FULL YEAR 2026 GUIDANCE

PHOENIX, AZ – August 4, 2026 - Centuri Holdings, Inc. (NYSE: CTRI) ("Centuri" or the "Company") today announced financial and operating results for the second quarter ended June 28, 2026.

Second Quarter 2026 Results and Highlights

•Achieved company record quarterly Revenue of $962.0 million, a 33% increase versus the second quarter of 2025

•Produced Gross Profit of $69.1 million, a 2% increase from the same period last year

•Delivered Base Revenue and Base Gross Profit of $959.5 million and $75.7 million, respectively, representing increases of 36% and 21% versus the second quarter of 2025

•Reported Net Income of $6.1 million and Adjusted Net Income of $24.4 million, 44% higher than last year's same-period Adjusted Net Income

•Recorded Adjusted EBIT of $40.5 million, an 8% increase year-over-year

•Realized Adjusted EBITDA of $75.7 million, a 5% increase year-over-year

•Secured bookings of nearly $850 million, bringing year-to-date bookings to $2.2 billion and book-to-bill ratio to 1.3x

•Expanded opportunity pipeline by 23% to a record $16 billion, highlighting continued end-market strength

•Closed the acquisition of JJ White, Inc ("JJ White"), adding scale and key capabilities to the Union Electric segment

First-Half 2026 Results Summary

•Revenue of $1.69 billion and Base Revenue of $1.65 billion, 32% and 33% higher than last year, respectively

•Gross Profit of $104.9 million and Base Gross Profit of $103.8 million, 19% and 35% higher than last year, respectively

"Our second quarter results reflect tremendous year-over-year growth, including record quarterly revenue and a 21% year-over-year increase in Base Gross Profit," said Centuri President & CEO Christian Brown. "The business has delivered a trailing 12-month Base Gross Profit Margin of 7.8%, compared to 7.4% a year ago, underscoring sustained improvement in profitability. Notably, trailing 12-month margins expanded even as higher fuel prices created an estimated $6 million headwind in the second quarter, highlighting the strength and resilience of the underlying business. We are focused on driving higher-margin work into our backlog and delivering sustainable long-term growth. Our end-markets continue to display growth as evidenced by our $16 billion opportunity pipeline and approximately $2.5 billion of outstanding bids, which is up 15% from last quarter."

"In addition to our growing organic opportunities, we are excited about the recently announced acquisition of JJ White and want to welcome the team to Centuri. Consistent with our strategy laid out earlier this year, the acquisition adds scale in our Union Electric segment, strengthens our mechanical and electrical construction services, and adds in-plant construction services across several end-markets including data centers."

"During the first half of 2026, we organically increased our workforce by approximately 18%, or 1,700 employees, consistent with our backlog and Base Revenue growth. In addition, during the second quarter, and specifically aligned with our strategy to expand margins and mitigate seasonality within the U.S Gas business, we invested a further $3 million into resources, mobilization and ramp up. This planned investment into our U.S Gas business capacity is expected to deliver a meaningful impact to gross profit and margins in the third quarter and across subsequent quarters. For the second half of 2026, we forecast the overall Centuri Base Gross Profit Margin to be approximately 9.0%, which fully aligns with the expectations set within our Vision One Centuri strategy."

1

Management Commentary

Second quarter 2026 revenue increased by $237.9 million, or 33%, to $962.0 million, and Gross Profit was $69.1 million compared to $67.8 million in the prior year quarter. Revenue growth was broad-based across all segments, with Canadian Operations leading at 48%, followed by U.S. Gas at 45%, Union Electric at 23%, and Non-Union Electric at 11%.

Net Income Attributable to Common Stock in the second quarter was $6.1 million compared to $8.1 million in the prior year. Adjusted Net Income for the second quarter was $24.4 million, a 44% increase compared to the same quarter last year. Adjusted EBIT in the second quarter was $40.5 million compared to $37.6 million in the prior year quarter, an 8% year-over-year increase. Adjusted EBITDA in the second quarter was $75.7 million compared to $71.8 million in the prior year quarter, a 5% year-over-year increase.

Base Revenue, Base Gross Profit, and Base Gross Profit Margin are non-GAAP measures that exclude the impact of storm restoration services, wh

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ctri-20260225False000198159900019815992026-02-252026-02-25

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): February 25, 2026

Centuri Holdings, Inc. (Exact Name of Registrant as Specified in its Charter)

Delaware001-4202293-1817741 (State or Other Jurisdiction of Incorporation)(Commission File Number)(IRS Employer Identification No.)

19820 North 7th Avenue, Suite 120 Phoenix, Arizona 85027 (Address of Principal Executive Offices)

Registrant’s telephone number, including area code: (623) 582-1235 Not Applicable (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s) Name of exchange on which registered

Common Stock, $0.01 per share par valueCTRINew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company o If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02            Results of Operations and Financial Condition.

We are furnishing the disclosure in this Item 2.02 in connection with the disclosure of information in the form of the textual information from a press release issued on February 25, 2026.

The information in this Item 2.02 (including Exhibit 99.1) is furnished pursuant to Item 2.02 and shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

We do not have, and expressly disclaim, any obligation to release publicly any updates or any changes in our expectations or any change in events, conditions, or circumstances on which any forward-looking statement is based.

The text included with this Current Report on Form 8-K is available on our website at www.centuri.com, although we reserve the right to discontinue that availability at any time.

Item 9.01            Financial Statements and Exhibits. (d)Exhibits

Exhibit No.Exhibit

99.1Press Release of Centuri Holdings, Inc. dated February 25, 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CENTURI HOLDINGS, INC.

Date: February 25, 2026 By: /s/ Gregory A. Izenstark Gregory A. Izenstark

Executive Vice President, Chief Financial Officer and duly authorized officer