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Centuri Holdings Appoints New Executives
Centuri Holdings announced the appointments of Kelly Youngblood as Executive Vice President, Chief Financial Officer, succeeding Gregory A. Izenstark, and Danielle Hunter as Executive Vice President, Chief Legal & Administrative Officer and Corporate Secretary, succeeding Jason S. Wilcock. Both appointments are effective immediately. "Enhancing our leadership is a critical step in our transformation. The appointments of Kelly and Danielle provide the leadership capabilities we need to meet and exceed the expectations we have set for ourselves and deliver the sustained performance our shareholders expect of us," said Christian Brown, President & CEO of Centuri. "Kelly's experience and financial acumen, coupled with his proven track record of hands-on leadership that achieves alignment of business performance and operational excellence makes him a strong and versatile addition to Centuri as we execute our Vision One Centuri strategy. Danielle is also an exceptional addition, bringing broad strategic and operational experience underpinned by strong legal and commercial strengths, which is needed as we grow as a fully integrated utility services organization." Mr. Brown concluded by saying, "We thank Greg and Jason for their contributions to Centuri and wish them all the best in the future."
Centuri Stock Drops 17.9% to $22.87
Centuri is down -17.9%, or -$4.99 to $22.87.
Major Averages Surge Again, Tech Shares Lead Gains
The major averages were sharply higher once again, building on Monday's gains as technology shares continue to lead gains and oil prices continue to drop. Strong quarterly reports from big firms such as Palantir, Caterpillar, and McDonald's helped fuel broad increases, while optimism remains over a U.S.-Iran deal to reopen the Strait of Hormuz potentially on the horizon.Meanwhile, investors are also monitoring reports that the Trump administration is drafting restrictions on certain Chinese-made data center networking components over national security concerns, a move that could have implications for AI infrastructure and semiconductor supply chains.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Palantirprovided areport for Q2Caterpillarreportedand provided its outlook for Q3 and FY26 revenueMcDonald'sreported, while global comparable sales rose 1.3% year-over-yearPfizerreported better-than-expected Q3 earnings and revenue andMerckreportedbut lowered its FY26 earnings outlook2. WALL STREET CALLS:Deutsche BankPalantirto Buy after "exceptional" Q2JPMorganNiketo Underweight on below-consensus estimatesOppenheimerInspire Medicaldespite "noisy" fundamentalsWalmartto Perform at OppenheimerJPMorganPVHto Underweight on estimate risk3. AROUND THE WEB:A Senate report alleges Deutsche Bankand Bank of Americafailed to timely report hundreds of millions of dollars in suspicious transactions linked to Jeffrey Epstein-related accounts, calling for investigations and tougher penalties for compliance failures, Bloomberg reportsApplehas launched a legal complaint at the Investigatory Powers Tribunal over the UK's latest attempt to create a "backdoor" that would allow it to access encrypted customer data, FT saysAnthropic has secured a $10B computing capacity agreement with Nvidia-backed Volta Infra to expand data center access and meet rising demand for its Claude AI products, Bloomberg reportsThe Trump administration has invited staffers from OpenAI, Google, Anthropic, and others to the White House on Tuesday to review the AI oversight framework, The Information saysA review by the New York Times of a dozen lawsuits against Uberby riders that were sexually assaulted or harassed on their rides found the company will scour women's private communications, medical records, and past assaults, using this information to present the women as unreliable narrators of the incidents4. MOVERS:Backblazehigher after, providing guidance for Q3, raising its outlook for FY26, and registering to sell 4.19M shares of stockAmeresco (AMRC) increases after, providing guidance for FY26, and after BNP Paribas upgraded the stock to OutperformPaymentusand Wayfairgain afterClearPoint Neurofalls afterand cutting its guidance for FY26AdaptHealthand Brukerlower after5. EARNINGS/GUIDANCE:Syscoand provided guidance for FY27Shoals Technologies, with EPS and revenue beating consensusBellRing Brandsand raised its outlook for FY26Centurithat CEO Christian Brown said "reflect tremendous year-over-year growth"Graingerand raised its guidance for FY26INDEXES:Near midday, the Dow was up 922.33, or 1.73%, to 54,100.74, the Nasdaq was up 529.64, or 2.04%, to 26,443.54, and the S&P 500 was up 111.50, or 1.47%, to 7,712.00.
Centuri Reports Q2 Revenue of $962M, Exceeding Expectations
Reports Q2 revenue $962M, consensus $836.02M. "Our second quarter results reflect tremendous year-over-year growth, including record quarterly revenue and a 21% year-over-year increase in Base Gross Profit," said Centuri President & CEO Christian Brown. "The business has delivered a trailing 12-month Base Gross Profit Margin of 7.8%, compared to 7.4% a year ago, underscoring sustained improvement in profitability. Notably, trailing 12-month margins expanded even as higher fuel prices created an estimated $6 million headwind in the second quarter, highlighting the strength and resilience of the underlying business. We are focused on driving higher-margin work into our backlog and delivering sustainable long-term growth. Our end-markets continue to display growth as evidenced by our $16 billion opportunity pipeline and approximately $2.5 billion of outstanding bids, which is up 15% from last quarter. In addition to our growing organic opportunities, we are excited about the recently announced acquisition of JJ White and want to welcome the team to Centuri. Consistent with our strategy laid out earlier this year, the acquisition adds scale in our Union Electric segment, strengthens our mechanical and electrical construction services, and adds in-plant construction services across several end-markets including data centers. During the first half of 2026, we organically increased our workforce by approximately 18%, or 1,700 employees, consistent with our backlog and Base Revenue growth. In addition, during the second quarter, and specifically aligned with our strategy to expand margins and mitigate seasonality within the U.S Gas business, we invested a further $3 million into resources, mobilization and ramp up. This planned investment into our U.S Gas business capacity is expected to deliver a meaningful impact to gross profit and margins in the third quarter and across subsequent quarters. For the second half of 2026, we forecast the overall Centuri Base Gross Profit Margin to be approximately 9.0%, which fully aligns with the expectations set within our Vision One Centuri strategy."
Company Expects Adjusted EBITDA of $285M-$310M in 2026
Sees adjusted EBITDA $285M-$310M. The Company also expects Net Capital Expenditures of $60 to $75 million in 2026.
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