Centuri Holdings reported that it has secured more than $870 million in new commercial bookings across North America, bringing its total 2025 bookings to $4.5 billion. The new contracts were announced on January 6 2026 and include a mix of renewals and fresh work that will feed the company’s revenue pipeline for the coming year.
The new awards are roughly 80 % renewals of existing Master Service Agreements and 20 % new work. The new work includes a gas‑distribution MSA with a Southwest customer, a natural‑gas storage and compression facility, and a pipeline and compressor‑station upgrade. Approximately $178 million of the new bookings were secured before the end of 2025, with the remainder signed in early 2026 as the company closed the year’s backlog.
Centuri’s backlog has grown steadily, reaching $5.9 billion as of November 5 2025 and $5.3 billion as of June 29 2025. The $4.5 billion in 2025 bookings represent a 10 % increase over the $4.1 billion booked in 2024, underscoring the company’s ability to lock in long‑term work and maintain a robust revenue pipeline.
President and CEO Christian Brown said the new bookings validate Centuri’s strategy of securing multi‑year contracts and demonstrate strong customer confidence. “Securing such a substantial value of bookings to close 2025 and begin 2026 is a strong validation of our strategy and the trust our customers place in us,” Brown said. He added that the momentum reflects continued demand for utility‑infrastructure services driven by aging assets, grid modernization, and the energy transition.
The bookings momentum is expected to translate into higher revenue and earnings in 2026. Management has highlighted that the high renewal rate—80 % of the new awards—reflects deep customer relationships and the essential nature of Centuri’s services. The company’s focus on long‑term MSAs also improves revenue visibility and supports its goal of achieving consistent growth.
While the announcement does not include updated financial guidance, the $870 million in new work is a key driver of the company’s projected revenue growth for 2026. Analysts note that the backlog expansion and high renewal rate position Centuri to capture a larger share of the utility‑infrastructure market, which is expected to grow as regulators push for pipeline upgrades and gas‑storage capacity increases.
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