Centuri reports Q2 adjusted EPS 19c, consensus 24c

Reports Q2 revenue $724.1M, consensus $702.35M. “Our second quarter performance reflected solid execution across all business segments, with particularly strong results in our electric operations, while we continued to see meaningful progress in our U.S. Gas segment through various initiatives aimed at enhancing overall margins,” said Centuri (CTRI) President & CEO Christian Brown. “Strong momentum from our integrated commercial strategy resulted in approximately $1.8 billion in new awards during the quarter. In addition, our proactive One Centuri sales approach is positioning us to maximize revenue potential from existing customers while strategically expanding into new opportunities, as evidenced by our nearly $14 billion sales pipeline. Based on our strong commercial momentum, enhanced pipeline visibility, and operational execution through the first half of the year, we are increasing our full-year revenue guidance. Our ability to raise our revenue outlook demonstrates the underlying strength of our core business, particularly given that 2024 benefited from elevated storm restoration activity that we do not expect to repeat this year.”