Q4 2024 Centuri Holdings Inc Earnings Call Transcript
Key Points
- Centuri Holdings Inc (CTRI) reported a 7.8% increase in consolidated revenues for the fourth quarter of 2024.
- The company achieved a 32% increase in consolidated gross profit compared to the prior year period.
- Centuri Holdings Inc (CTRI) secured $221 million in new awards during the quarter, indicating strong business development efforts.
- The company experienced a record year for storm restoration work, with revenues significantly exceeding historical averages.
- Centuri Holdings Inc (CTRI) anticipates double-digit EBITDA growth in its core business for 2025.
- Gas margins during 2024 were below expectations due to rate case approvals and competitive forces.
- The company faced challenges in optimizing crew counts and resource utilization in response to customer slowdowns.
- Offshore wind revenues were down 75% year over year due to the expected wind down of project work.
- Gross profit margins in the US gas segment decreased to 6.2% in the fourth quarter of 2024 from 7.8% in the prior year period.
- Centuri Holdings Inc (CTRI) is not currently focusing on offshore wind projects due to unpredictability and lack of capital allocation.
Greetings and welcome to Centuri's 4th quarter and full year 2024 earnings call.. (Operator Instructions).
It is now my pleasure to introduce your host, Jason Wilcox, Centuri's chief legal and administrative officer and corporate secretary. Please you may begin.
Thank you, Joelle and hello, everyone. We appreciate you joining our call this morning. We issued and posted the Centuri Holdings website, our 4th quarter 2024 earnings lease.
The slides accompanying today's call are also available on Centuri Holdings website.
Please note that on today's call we will address certain factors that may impact this year's earnings and provide some longer term guidance.
Some of the information that will be discussed today contains forward-looking statements within the meeting of the Private Securities Litigation Reform Act. These statements are as of today's date and based on management's assumptions on what the future holds, but are
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
