Filing Flows › Centuri Holdings (CTRI) › Q3 2025
Centuri Holdings (CTRI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Centuri Holdings (CTRI) reported revenue of $850M for the third quarter 2025 (Q3 2025), +18% from a year earlier and +17% from the quarter before. Operating margin was 4.3%, net earnings $2.1M (0.2% of revenue).
Centuri Holdings, Q3 2025: revenue $850M (+18% year over year), operating margin 4.3%, net earnings $2.1M, operating cash flow $5.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $850M | +17% | +18% |
| Gross profit | $78.0M | +15% | +3% |
| Operating profit | $36.3M | +13% | -13% |
| Net earnings | $2.1M | -74% | — |
| Operating cash flow | $5.2M | — | -97% |
What changed
Revenue was $850.0M in Q3 2025, up 18% year over year and up 17% from the previous quarter. U.S. Gas was the largest line at 49% of revenue. U.S. Gas added $46.3M year over year (up 13%), 36% of the total change.
Gross margin was 9.2%, down 1.4 points from a year earlier. Operating profit was $36.3M, a 4.3% margin (down 1.5 points year over year). Operating profit fell $5.6M even though revenue rose $130.0M versus a year earlier, so costs grew faster than sales. Operating expenses grew 23% against revenue growth of 18%. The fastest-growing cost line was SG&A (+28%). Net earnings were $2.1M. The effective tax rate was 78.9%.
Operating cash flow was $5.2M (down 97% year over year), 247% of net earnings. Non-cash charges added back $34.5M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items used $33.5M. Capital expenditures of $23.6M exceeded it, leaving free cash flow of −$18.4M.
Questions
What was Centuri Holdings' revenue in the third quarter 2025?
Centuri Holdings (CTRI) reported revenue of $850M for the third quarter 2025 (Q3 2025), +18% from a year earlier and +17% from the quarter before.
Was Centuri Holdings profitable in the third quarter 2025?
Operating profit was $36.3M (4.3% of revenue) and net earnings $2.1M.
Source: Centuri Holdings 10-Q on SEC EDGAR.