Centuri Raises Full-Year Guidance on Strong Q2 Growth — Centuri Holdings, Inc.

Event summary

Centuri reported Q2 2026 revenue of $962.0 million, up 33% YoY.
Adjusted EBITDA increased by 5% YoY to $75.7 million.
Secured bookings of nearly $850 million, bringing YTD bookings to $2.2 billion.
Completed acquisition of JJ White for approximately $62 million.
Raised full-year 2026 guidance, targeting Base Revenue of $3.5-$3.7 billion.

The big picture

Centuri's strong Q2 performance underscores the resilience of its utility and energy infrastructure services business amid rising fuel costs. The acquisition of JJ White bolsters its Union Electric segment, aligning with strategic goals to expand in high-growth end-markets like data centers. The company's ability to maintain profitability improvements will be critical as it navigates seasonal and operational challenges.

What we're watching

Margin Expansion: Whether Centuri can sustain its targeted Base Gross Profit Margin of 9.0% in the second half of 2026, despite higher fuel prices and labor mobilization costs.
Integration Success: How effectively Centuri integrates JJ White's operations to achieve expected annual gross profit contributions of over $20 million.
Market Demand: The pace at which Centuri can convert its record $16 billion opportunity pipeline into actual bookings and revenue growth.