Filing Flows › Centuri Holdings (CTRI) › Q2 2026 › vs Q2 2025
Centuri Holdings (CTRI) Q2 2026 vs Q2 2025 (year over year)
Centuri Holdings's revenue rose $238M (+33%) from $724M in Q2 2025 to $962M in Q2 2026. The biggest changes: Master service agreements +$128M (+21%); Bid contracts +$110M (+85%). Gross margin 7.2% against 9.4% (-2.2 pts).
Centuri Holdings, Q2 2026: revenue $962M (+33% year over year), operating margin 2.5%, net earnings $6.1M, operating cash flow $20.0M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 7.2% | 9.4% | -2.2 pts |
| Operating margin | 2.5% | 4.4% | -1.9 pts |
| Net margin | 0.6% | 1.1% | -0.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Master service agreements | $721M | $594M | $128M | +21% |
| Bid contracts | $241M | $130M | $110M | +85% |
| Revenue | $962M | $724M | $238M | +33% |
| Gross profit | $69.1M | $67.8M | $1.3M | +2% |
| Cost of revenue | $893M | $656M | $237M | +36% |
| Operating profit | $24.1M | $32.2M | −$8.0M | -25% |
| Operating expenses | $45.0M | $35.6M | $9.4M | +26% |
| Pre-tax earnings | $12.3M | $14.3M | −$2.0M | -14% |
| Other expense, net | $11.8M | $17.9M | −$6.0M | -34% |
| SG&A | $37.2M | $29.0M | $8.3M | +29% |
| Other operating costs | $7.8M | $6.7M | $1.1M | +16% |
| Net earnings | $6.1M | $8.1M | −$1.9M | -24% |
| Income tax | $6.2M | $6.2M | −$31K | -0.5% |
| Operating cash sources | $45.4M | $44.5M | $909K | +2% |
| Depreciation & amortization | $35.1M | $34.2M | $923K | +3% |
| Share-based compensation | $4.1M | $2.2M | $1.9M | +89% |
| Working capital & other | $25.3M | $72.1M | −$46.8M | -65% |
| Operating cash flow | $20.0M | −$27.7M | $47.7M | — |
| Capital expenditures | $27.9M | $20.8M | $7.1M | +34% |
| Negative free cash flow (OCF − capex) | $7.9M | $48.5M | −$40.6M | -84% |
Questions
How much did Centuri Holdings's revenue grow year over year in Q2 2026?
Centuri Holdings's revenue rose $238M (+33%) from $724M in Q2 2025 to $962M in Q2 2026.
What drove Centuri Holdings's revenue change in Q2 2026?
Master service agreements +$128M (+21%); Bid contracts +$110M (+85%).