Filing Flows › Centuri Holdings (CTRI) › Q1 2026
Centuri Holdings (CTRI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Centuri Holdings (CTRI) reported revenue of $723M for the first quarter 2026 (Q1 2026), +31% from a year earlier and -16% from the quarter before. Operating margin was -0.7%, net loss $9.5M (1.3% of revenue).
Centuri Holdings, Q1 2026: revenue $723M (+32% year over year), operating margin -0.7%, net loss $9.5M, operating cash flow −$35.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $723M | -16% | +31% |
| Operating profit | −$4.7M | -113% | — |
| Net earnings | −$9.5M | -131% | — |
| Operating cash flow | −$35.0M | -142% | -310% |
What changed
Revenue was $723.2M in Q1 2026, up 31% year over year and down 16% from the previous quarter. Master services agreements was the largest line at 74% of revenue. Master services agreements added $114.8M year over year (up 27%), 66% of the total change.
Gross margin was 4.9%, up 1.2 points from Q1 2025. Operating costs exceeded revenue by $4.7M, an operating margin of -0.7%. Operating expenses grew 23% against revenue growth of 31%. The fastest-growing cost line was SG&A (+24%). The quarter ended with a net loss of $9.5M, after a profit of $30.4M the previous quarter. Net interest and other expense of $12.5M was the main reason.
Operating cash flow was −$35.0M. Non-cash charges added back $35.2M of depreciation and amortization and $2.2M of share-based compensation. Working capital and other items used $62.9M. Capital expenditures of $20.2M exceeded it, leaving free cash flow of −$55.3M.
Questions
What was Centuri Holdings' revenue in the first quarter 2026?
Centuri Holdings (CTRI) reported revenue of $723M for the first quarter 2026 (Q1 2026), +31% from a year earlier and -16% from the quarter before.
Was Centuri Holdings profitable in the first quarter 2026?
Operating loss was $4.7M (-0.7% of revenue) and net loss $9.5M.
Source: Centuri Holdings 10-Q on SEC EDGAR.