Centuri Holdings reported record quarterly revenue and gross profit for the three months ended Sept. 27, 2026, with higher earnings and a modest improvement in gross margin from a year earlier. The utility and infrastructure services company also set preliminary 2027 targets for mid-teens revenue growth and a gross profit margin of 8.5% to 9%.
Third-quarter results
- Revenue reached a company-record $1.2 billion, up 40% from the third quarter of 2025, an increase of $342 million.
- Gross profit also set a quarterly record at $113.4 million, up 45% year over year. Gross profit margin rose to 9.5% from 9.2%.
- Centuri reported an incremental gross profit margin of 10.4% on the $342 million year-over-year revenue increase.
- Net income was $26.9 million, up 1,174% from the year-earlier quarter. Adjusted net income was $42.5 million, an increase of 155%.
- Adjusted EBIT totaled $73 million, up 79%, with a 6.1% adjusted EBIT margin.
- Adjusted EBITDA was $108 million, up 44%, with a 9.1% adjusted EBITDA margin.
- The company’s opportunity pipeline reached a record $19 billion.
Year-to-date results and 2027 targets
- For the first nine months of 2026, revenue was $2.9 billion, 35% higher than in the same period last year.
- Year-to-date gross profit was $218.3 million, up 31%. Adjusted gross profit was $227.2 million, up 37%.
- Centuri’s preliminary 2027 targets call for mid-teens revenue growth and a gross profit margin of 8.5% to 9%.
The quarter combined rapid revenue growth with a slight year-over-year expansion in gross margin. The 2027 targets are preliminary, while the $19 billion pipeline represents identified business opportunities—not reported revenue or a stated backlog.