Centuri Awarded Over $300 Million in Commercial Contracts

MT Newswires Live05-27

Centuri (CTRI) said Wednesday it won over $300 million worth of new commercial contracts from clients across the US and Canada.

New bid work and new or expanded master services agreements comprise about 87% of the total contract value, with the remaining representing renewals of existing MSAs, the company said.

Work includes natural gas distribution infrastructure overhaul, a gas facility upgrade, installation of components benefiting a midstream energy infrastructure firm, engineering and construction services for a transmission infrastructure project, and electrical infrastructure construction for phase 1 of a Canada wind farm project, according to the company.

Centuri said it has received a total of about $1.7 billion in commercial awards to date this year and is also in active negotiations for about $400 million of additional contracts, which include data center-related work.

Shares of Centuri were up 2.8% in Wednesday trading.

Price: 32.19, Change: +0.87, Percent Change: +2.78

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