Centuri Awarded Over $300 Million in Commercial Contracts
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%
