Centuri Lands $350 Million In New Contracts, CEO Notes Demand Surge

Benzinga·05/27/2025 14:31:24

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Centuri Holdings Inc. (NYSE:CTRI) announced on Tuesday that it has secured $350 million in new contracts to support utility infrastructure upgrades across North America. The contracts underscore strong demand for the company’s services in electric, gas, water, and renewable energy systems.

The awards cover both new and expanded agreements across multiple regions, including water system work in the Midwest, electric utility projects in the Northeast, and metro excavation in the Southwest.

Additional scope includes natural gas distribution and infrastructure for renewable natural gas (RNG), aligning with efforts to modernize energy systems and boost sustainability, the company said.

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“Centuri is a critical partner in delivering safe, reliable, and sustainable infrastructure solutions across North America,” said Centuri President and CEO Christian Brown. “We continue to see increasing demand for our service offerings as our utility and energy customers work to upgrade aging infrastructure and meet increasing power demands. On behalf of our 8,600+ employees, we are proud to play an important role in meeting infrastructure needs across a complex and dynamic energy landscape,” he added.

The announcement follows $400 million in renewed service agreements disclosed in April. Earlier in May, Centuri signed a $27M equipment deal with Aemetis (NASDAQ:AMTX) to support RNG systems at 15 dairy digesters and was tapped for future construction and pipeline projects in California.

Related ETFs: iShares U.S. Infrastructure ETF (BATS:IFRA), Global X U.S. Infrastructure Development ETF (NASDAQ:PAVE).

CTRI hit a 52-week high of $28.65 in June 2024 before sliding nearly 50% to a low of $14.46 in April 2025. Year-to-date, CTRI is down 29.8% but trades near its 50-day average of $17.66, signaling a modest rebound.

Price Action: CTRI shares are trading higher by 1.74% at $18.97 at the last check on Tuesday.

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