1. Centuri announces over $300 million in new customer awards. 2. Awards include projects across Northeast, Southeast, and Midwest regions. 3. New contracts to support massive data center complex in Pennsylvania. 4. Renewal of Master Service Agreement with long-standing utility customer. 5. Continued strong momentum in bidding and commercial successes observed.
The announcement of $300 million in awards suggests strong revenue growth potential. Historical data shows that significant contracts often lead to positive stock performance, as seen in similar firms post-contract announcements.
The article highlights significant financial developments for Centuri, indicating a robust growth trajectory. This news is likely to enhance investor confidence, driving stock prices upward.
The awarded contracts are likely to contribute to revenue growth over multiple years as infrastructure projects often extend. Similar trends observed in utility sectors show long-term financial improvements after securing major contracts.
Awards include new projects, Master Service Agreements (MSAs), and contract renewals
Centuri Holdings, Inc. (NYSE:CTRI) ("Centuri" or the "Company"), a leading, North American utility infrastructure services company, today announced more than $300 million in customer awards. The awards reflect growing demand for the Company's comprehensive mix of energy solutions among utility and infrastructure clients across the U.S.
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Centuri announces more than $300 million in awards spanning the U.S.
The revenue value of the announced awards includes additional scopes of work to power data center campuses across Pennsylvania, two new contracts to perform distribution work for gas and electric utilities in the Midwest and Southeast, and an MSA renewal with a long-standing utility customer in the Northeast. Additional awarded scopes include work in support of utility capital plans, including upgrading and replacing aging infrastructure, as well as electric transmission line relocation and grid hardening. Today's announcement complements the previously announced $550 million in awards on July 9.
"We're pleased with the continued strong momentum in our bidding and commercial successes into the second half of the year," said Centuri President and CEO Christian Brown. Our most recent awards are the result of our deliberate strategy to capture end-market opportunities and deliver profitable growth. Customers continue to respond well to the positioning of our differentiated offering, which provides the assets, capabilities, and people resources our customers need to deliver reliable power—all under one umbrella."
Learn more about Centuri's capabilities at https://centuri.com.
About Centuri
Centuri Holdings, Inc. is a strategic utility infrastructure services company that partners with regulated utilities to build and maintain the energy network that powers millions of homes and businesses across the United States and Canada.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can often be identified by the use of words such as "will," "predict," "continue," "forecast," "expect," "believe," "anticipate," "outlook," "could," "target," "project," "intend," "plan," "seek," "estimate," "should," "may" and "assume," as well as variations of such words and similar expressions referring to the future. Forward-looking statements could include (without limitation) statements regarding our confidence in our prospects to deliver value for our stockholders as an independent standalone company and our expectation to continue to build on our track record of delivering consistent growth by serving our customers across the utility value chain. A number of important factors affecting the business and financial results of Centuri could cause actual results to differ materially from those stated in any forward-looking statements. These factors include, but are not limited to, capital market risks and the impact of general economic or industry conditions. Factors that could cause actual results to differ also include (without limitation) those discussed in Centuri's filings filed from time to time with the SEC. The statements in this press release are made as of the date of this press release, even if subsequently made available by Centuri on its website or otherwise. Centuri does not assume any obligation to update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
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For Centuri Shareholders, contact:
Nate Tetlow
(480) 851-8426
Ntetlow@centuri.com
For Centuri media information, contact:
Jennifer Russo
(602) 781-6958
JRusso@Centuri.com