Centuri Holdings, Inc. (NYSE: CTRI) shares gained ground Tuesday. The company, a leading, North American utility infrastructure services company, today announced $350 million in new customer awards, reflecting strong demand for the company’s infrastructure solutions across North America. The awards span the U.S. and include work in support of electric and gas infrastructure modernization, water relocation, utility distribution, and renewables.
The awards encompass new customer work, along with significant expansion of contracts previously awarded. The scopes include 1) a major water relocation project in the Midwest, 2) two distinct awards for an electric utility customer in the Northeast, 3) a significant program of work for one of the largest utilities in the Southwest focused on metro excavation, 4) core gas distribution services, and 5) an award for complex infrastructure installations as part of a major renewable natural gas (RNG) scope of work. Today’s announcement complements the previously announced $400 million in master service agreement (MSA) renewals shared on April 24.
“Centuri is a critical partner in delivering safe, reliable, and sustainable infrastructure solutions across North America,” said Centuri CEO Christian Brown. “We continue to see increasing demand for our service offerings as our utility and energy customers work to upgrade aging infrastructure and meet increasing power demands. On behalf of our 8,600+ employees, we are proud to play an important role in meeting infrastructure needs across a complex and dynamic energy landscape.”
CTRI shares took on 36 cents, or 1.9%, to $19.00.
