Centuri Q3 net loss $3.7M; revenue $720M, down 7.1% YoY; reiterates FY guidance

Centuri Holdings, Inc.

2024-Q3 EPS reported -$0.21 revenue$1,920,151,000

Revenue $720.1M (down 7.1% YoY); net loss $3.7M (diluted EPS -$0.04).
Adjusted net income $5.3M (adjusted diluted EPS $0.06); Adjusted EBITDA $78.8M (margin 10.9%).
Backlog $4.3B; secured $350M in new multi-year customer awards during Q3.
U.S. Gas revenue fell 7.5% to $366M; Union Electric down 15.9% due to $38M decline in offshore wind.
Entered $125M accounts receivable securitization; appointed Chris Brown as CEO effective Dec 3.

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