Centuri Q2 revenue down 16.6% YoY; announces CEO transition and FY2024 guidance

Centuri Holdings, Inc.

2024-Q2 EPS reported -$0.17 revenue$1,200,098,000

Q2 revenue $672.1M (down 16.6% YoY); net income $11.7M ($0.14 diluted EPS); adj. diluted EPS $0.20.
Adj. EBITDA $68.6M, margin 10.2%; FY2024 guidance: revenue $2.5-2.7B, adj. EBITDA margin 9.0-9.6%.
CEO Bill Fehrman stepping down July 31; Paul Caudill named Interim President/CEO; national search firm engaged.
IPO net proceeds $328M used to pay down debt; backlog $4.7B; cost savings expected ~$29M annualized in 2025.
Revenue decline driven by reduced MSA spending due to unfavorable regulatory outcomes and project delays.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.