Filing Flows › Centuri Holdings (CTRI) › Q4 2025
Centuri Holdings (CTRI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Centuri Holdings (CTRI) reported revenue of $859M for the fourth quarter 2025 (Q4 2025), +20% from a year earlier and +1% from the quarter before. Operating margin was 4.3%, net earnings $30.4M (3.5% of revenue).
Centuri Holdings, Q4 2025: revenue $859M (+20% year over year), operating margin 4.3%, net earnings $30.4M, operating cash flow $83.9M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $859M | +1% | +20% |
| Gross profit | $80.5M | +3% | +13% |
| Operating profit | $37.1M | +2% | +10% |
| Net earnings | $30.4M | 14× | +194% |
| Operating cash flow | $83.9M | 16× | +38% |
| Free cash flow | $66.3M | — | +139% |
What changed
Revenue was $858.6M in Q4 2025, up 20% year over year and up 1% from the previous quarter. Master services agreements was the largest line at 77% of revenue.
Gross margin was 9.4%, down 0.5 points from a year earlier. Operating profit was $37.1M, a 4.3% margin (down 0.4 points year over year). Of the extra revenue versus a year earlier, 2% reached operating profit, below the 5% margin then. Operating expenses grew 16% against revenue growth of 20%. The fastest-growing cost line was SG&A (+17%). Net earnings were $30.2M, up 193% year over year. The effective tax rate was -42.3%.
Operating cash flow was $83.9M (up 38% year over year), 276% of net earnings. Non-cash charges added back $35.9M of depreciation and amortization and $2.2M of share-based compensation. Working capital and other items added $15.5M. Capital expenditures of $17.6M left free cash flow of $66.3M.
Questions
What was Centuri Holdings' revenue in the fourth quarter 2025?
Centuri Holdings (CTRI) reported revenue of $859M for the fourth quarter 2025 (Q4 2025), +20% from a year earlier and +1% from the quarter before.
Was Centuri Holdings profitable in the fourth quarter 2025?
Operating profit was $37.1M (4.3% of revenue) and net earnings $30.4M.
Source: Centuri Holdings 10-K on SEC EDGAR.