Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Centuri Holdings, Inc. (CTRI)
NYSE:CTRI
Holding CTRI?
Track your performance easily
Earnings Data
Report Date
―TBA Not Confirmed
Period Ending
―Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 5 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Jul 29, 2024
|% Change Since: 12.62%
|Next Earnings Date:May 08, 2024
Earnings Call Sentiment|Neutral
The earnings call reflects a mixed sentiment with significant achievements in strategic awards and cost savings, offset by revenue declines and challenges in key segments such as U.S. Gas and Union Electric. Despite some positive developments, including strong storm restoration performance and leadership changes, the financial setbacks and reduction in backlog temper the overall outlook.Company Guidance
During Centuri's third quarter earnings call for 2024, the company provided several key metrics and guidance that reflect its current operational and financial strategies. The call highlighted a decline in consolidated revenues by 7.1% year-over-year, with a 13.5% decrease in gross profit and a decline in the gross profit margin to 10.5% from 11.3% in the prior year. The company outlined cost-saving initiatives, expecting annualized savings of $29 million in 2025, with $6.4 million already benefiting the third quarter results. Notably, Centuri secured $347 million in new awards during the quarter, comprising $206 million in master service agreements (MSAs) and $140 million in strategic bid awards. Additionally, storm restoration services generated $41.4 million in revenue in Q3, contributing to a total of $87 million for the first three quarters. Despite challenges in the gas segment due to subdued MSA spending, the company reiterated its full-year guidance, maintaining a focus on diversified growth in electric infrastructure services and cost control. Centuri ended the quarter with a backlog of $4.3 billion and a net debt to adjusted EBITDA ratio of 3.9x, showing progress in de-levering its balance sheet.CEO Appointment
Chris Brown appointed as CEO, bringing significant experience in leading large organizations in the energy sector.
Strategic Bid Awards
Secured $347 million in new awards, including $206 million in MSA awards and $140 million in strategic bid awards.
Growth in Non-Union Electric Segment
Non-union Electric segment revenue increased by 16.4% year-over-year, driven by improved productivity and higher storm revenues.
Strong Performance in Storm Restoration Services
Generated $87 million in revenues from storm restoration services in the first three quarters of 2024, about 4% higher than the same period in 2023.
SG&A Cost Reduction
Expected annualized savings of $29 million by 2025 from cost reduction initiatives, benefiting Q3 results by approximately $6.4 million.
Accounts Receivable Securitization
Entered a $125 million accounts receivable securitization facility, helping to lower interest expenses.
---
CTRI Earnings History
Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release | Slides | Play Transcript |
|---|---|---|---|---|---|---|---|
| May 08, 2024 | 2024 (Q1) | -0.1 | -61.00% (-0.06) | ― | ― | ||
| Jul 29, 2024 | 2024 (Q2) | ― | ― | ||||
| Nov 06, 2024 | 2024 (Q3) | ― | ― |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
CTRI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $19.41 | $19.02 | -2.01% |
| Jul 29, 2024 | $20.25 | $15.72 | -22.37% |
| May 08, 2024 | $25.00 | $24.96 | -0.16% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Centuri Holdings, Inc. (CTRI) report earnings?
Currently, no data Available
What is Centuri Holdings, Inc. (CTRI) earnings time?
Currently, no data Available
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CTRI EPS forecast?
Currently, no data Available
---