Centuri Q1 revenue $528M down 19% YoY; adjusted EBITDA $20.2M, net loss widens

Centuri Holdings, Inc.

2024-Q1 EPS reported -$242060.00 revenue$528,023,000

Net loss attributable to common stock $(25.1)M vs $(8.8)M prior year; adjusted net loss $(14.4)M.
Revenue $528M vs $653.3M, down 19.2% due to unfavorable weather, lower offshore wind and storm restoration.
Completed IPO of 14.3M shares at $21/share, net proceeds $329.3M used to pay down debt.
Acquired remaining 10% stake in Linetec Services for $92M in April 2024.
Received over $40M in new awards from existing MSA customers.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Centuri Holdings, Inc. reported first quarter, ended March 31, 2024 results: revenue $528.0 million, net income $(25.1) million.

Period: first quarter, ended March 31, 2024
Revenue: $528.0 million
Net income: $(25.1) million
Result: reported results

Exact text from the filing

from existing master service agreements ("MSAs") customers supporting the work to advance critical reliability and integrity spending • First quarter consolidated revenue of $528.0 million • First quarter results include net loss attributable to common stock of $(25.1) million, adjusted net loss of $(14.4) million, and adjusted EBITDA of $20.2 million • First

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Source: SEC EDGAR

accession 0001981599-24-000018

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