“As a result of these exclusions from EBITDA, any measure that excludes interest expense net of interest income, depreciation and amortization and income taxes has material limitations as compared to net loss.”10-Q · May 6, 2026 ↗
Centuri Holdings, Inc.
CTRI
Market read
Centuri Holdings, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 15 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 19 directly disclosed connections are confirming.
- Non-Union Electric revenue increased on higher volumes from new and existing MSAs, while consolidated gross margin declined.
- Quarterly interest expense, net decreased $5.4M attributed to lower average debt and lower rates on variable-rate borrowings.
Invalidation: The isolated read changes if CTRI's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 15 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 19 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- Non-Union Electric revenue increased on higher volumes from new and existing MSAs, while consolidated gross margin declined.
- Quarterly interest expense, net decreased $5.4M attributed to lower average debt and lower rates on variable-rate borrowings.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +13.1% year over year.
- Net margin changed +1.0 percentage points in the latest annual period.
- Operating cash flow covered net income at 3.49x in the latest annual period.
- Diluted shares increased 8.4% in the latest annual period.
- Credit and interest rates has repeated adverse evidence across 3 filings.
No credible peer-relative valuation comparison is available yet.
Price as of Sep 10, 2026
20.26Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Revenue from our Non-Union Electric segment totaled $174.6 million, reflecting an increase of $37.4 million, or 27.3%, compared to the prior year period due primarily to higher volumes on new and existing MSAs.”10-Q · May 6, 2026 ↗
“75 Table of Contents If the Company believes that, as a result of its qualitative assessment, it is more likely than not that the fair value of a reporting unit is less than its carrying amount, a quantitative impairment test is required.”10-K · Feb 26, 2026 ↗
“Overall, our results for the first fiscal quarter of 2026 were not significantly impacted by increases in prices, including due to tariffs implemented by the Trump Administration.”10-Q · May 6, 2026 ↗
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for CTRI. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for CTRI. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind CTRI
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
SWX47.2% of CTRIcustomerAug 6, 2025 ▾
“Revenue from Southwest Gas Corporation totaled $26.1 million for the current period compared to $28.7 million in the prior year period.”
AEPAmerican Electric Power Company, Inc.customerFeb 26, 2026 ▾
“Our customers include American Electric Power, Enbridge, Entergy, Exelon, NiSource, National Grid, Sempra Energy and Southern Company, among others.”
Depended on by
SWXSouthwest Gas Holdings, Inc.partnerAug 6, 2025 ▾
“With a commitment to serve as long-term partners to customers and communities, Centuri’s employees enable regulated utilities to safely and reliably deliver natural gas and electricity, as well as achieve their goals for environmental sustainability.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 23 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
CTRI is currently a Participant in the organic co-movement group Mixed Risk Exposure. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for CTRI; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.