Record Revenue and Base Profitability Improvement
Centuri delivered record revenue for Q3 2025 with an 18% increase to $850 million. Base profitability improved with adjusted net income rising to $16.7 million, an increase of $11.4 million from the previous year.
Significant Base Business Growth
Base revenue increased by 25% and base gross profit rose by 28% compared to the previous year, reflecting strong operational performance.
Robust Bookings and Backlog
Q3 bookings reached approximately $815 million with a book-to-bill ratio of almost 1. The backlog hit a record high of $5.9 billion, up from $5.3 billion last quarter, indicating strong future demand.
Strategic Fleet Optimization
Initiated strategic fleet optimization expected to improve fleet efficiency by over 20% and enhance cash generation. Operating lease agreements totaling $50 million were entered into for equipment.
Strong Segment Growth
U.S. Gas revenue increased by 13%, Canadian Gas by nearly 40%, and Union Electric by 25% year-over-year, demonstrating strong growth across segments.