Riggs, Smulders, and Cherubini Sign Strategic Teaming Agreement
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 22 2026
0mins
Should l Buy CTRI?
Source: Newsfilter
- Strategic Teaming Agreement: Riggs Distler, Smulders, and Cherubini Bridges & Structures have signed a strategic teaming agreement aimed at supporting the fabrication and delivery of offshore renewable energy infrastructure in Nova Scotia, combining U.S. and European offshore wind expertise with Canadian manufacturing capabilities to accelerate the development of a domestic offshore wind supply chain.
- Market Target: This agreement supports Canada's goal of achieving 5 GW of offshore wind capacity by 2030, reflecting Nova Scotia's significant role in the global energy transition, particularly given its status as home to some of the strongest offshore wind resources in the world.
- Local Manufacturing Capability: Cherubini will utilize over 250,000 square feet of fabrication space with direct access to quayside and marine vessels, enhancing local manufacturing capacity for wind components, thereby boosting supply chain capabilities and job creation in Nova Scotia.
- Global Experience Integration: The combined expertise of Riggs Distler, Smulders, and Cherubini, totaling over 200 years in the industry, aims to leverage global knowledge and local capabilities to drive long-term growth in Nova Scotia's offshore wind sector.
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Analyst Views on CTRI
Wall Street analysts forecast CTRI stock price to fall
6 Analyst Rating
3 Buy
1 Hold
2 Sell
Hold
Current: 33.600
Low
22.00
Averages
27.40
High
34.00
Current: 33.600
Low
22.00
Averages
27.40
High
34.00
About CTRI
Centuri Holdings, Inc. is a utility and energy infrastructure services company that partners with regulated utilities to build and maintain the energy network that powers millions of homes and businesses across the United States and Canada. The Company's segments include U.S. Gas Utility Services (U.S. Gas), Canadian Utility Services (Canadian Operations), Union Electric Utility Services (Union Electric), and Non-Union Electric Utility Services (Non-Union Electric). The U.S. Gas and Canadian Gas segments provide comprehensive services, including maintenance, replacement, repair and installation for local natural gas distribution utilities (LDCs) focused on the modernization of customers’ infrastructure throughout the United States and Canada. Union Electric segment provides a comprehensive set of electric utility services encompassing maintenance, replacement, repair, upgrade and expansion services for urban transmission and local distribution infrastructure within union markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Centuri Holdings Q1 Earnings Beat Expectations
- Earnings Performance: Centuri Holdings reported a Q1 GAAP EPS of -$0.09, beating expectations by $0.04, indicating positive signs of recovery in profitability despite still being in a loss position.
- Significant Revenue Growth: The company achieved revenue of $723.2 million, a 31.5% year-over-year increase, surpassing market expectations by $105.86 million, demonstrating strong sales growth amid robust market demand.
- Gross Profit Surge: Gross profit for the quarter reached $35.8 million, reflecting a substantial 76% increase from the previous year, showcasing significant improvements in cost control and operational efficiency, thereby enhancing profitability.
- New Customer Awards: Centuri Holdings secured over $345 million in new customer awards, further solidifying its market position and providing strong support for future revenue growth.
See More
Riggs, Smulders, and Cherubini Sign Strategic Teaming Agreement
- Strategic Teaming Agreement: Riggs Distler, Smulders, and Cherubini Bridges & Structures have signed a strategic teaming agreement aimed at supporting the fabrication and delivery of offshore renewable energy infrastructure in Nova Scotia, combining U.S. and European offshore wind expertise with Canadian manufacturing capabilities to accelerate the development of a domestic offshore wind supply chain.
- Market Target: This agreement supports Canada's goal of achieving 5 GW of offshore wind capacity by 2030, reflecting Nova Scotia's significant role in the global energy transition, particularly given its status as home to some of the strongest offshore wind resources in the world.
- Local Manufacturing Capability: Cherubini will utilize over 250,000 square feet of fabrication space with direct access to quayside and marine vessels, enhancing local manufacturing capacity for wind components, thereby boosting supply chain capabilities and job creation in Nova Scotia.
- Global Experience Integration: The combined expertise of Riggs Distler, Smulders, and Cherubini, totaling over 200 years in the industry, aims to leverage global knowledge and local capabilities to drive long-term growth in Nova Scotia's offshore wind sector.
See More
Centuri Holdings Secures Over $345 Million in New Contracts
- Total New Contracts: Centuri Holdings announced it has secured over $345 million in new commercial awards across the U.S., covering natural gas and electric infrastructure projects, indicating strong demand and growth potential in the market.
- Project Composition: Approximately 70% of the awards stem from new projects and expanded Master Services Agreements, while the remainder consists of renewals with existing customers, showcasing the company's dual success in client retention and new business development.
- Year-to-Date Bookings: Year-to-date bookings for Centuri in 2026 are nearing $1.4 billion, reflecting sustained growth and market confidence in the infrastructure sector.
- Future Outlook: Centuri targets a base revenue of $3.15 billion to $3.45 billion for 2026, further strengthening its backlog and margin initiatives, signaling potential for sustainable growth in the future.
See More
Icahn Enterprises Increases Stake in Centuri Holdings
- Increased Holdings: Icahn Enterprises increased its stake in Centuri Holdings by 3,488,372 shares in Q4 2026, with an estimated transaction value of $77.99 million, indicating sustained confidence in the company.
- Market Valuation Growth: The latest report values Centuri Holdings at $361.99 million, an increase of $132.34 million from the previous filing, reflecting the impact of new purchases and price movements.
- Market Performance: As of March 20, 2026, Centuri Holdings shares were priced at $29.12, marking a 69.5% increase over the past year, outperforming the S&P 500 by 46.33 percentage points, showcasing strong market performance.
- Business Overview: Centuri Holdings focuses on gas and electric utility infrastructure services, supporting modernization and reliability, with over 8,600 employees and $2.84 billion in annual revenue, demonstrating its leadership position in North America.
See More
Icahn Enterprises Increases Stake in Centuri Holdings
- Share Acquisition: Icahn Enterprises LP acquired an additional 3,488,372 shares of Centuri Holdings in Q4, with an estimated transaction value of $77.99 million, reflecting ongoing confidence in the company.
- Asset Value Increase: This trade raised Icahn's quarter-end position value to $361.99 million, an increase of $132.34 million from the previous filing, demonstrating the dual impact of new purchases and stock price appreciation.
- Portfolio Proportion: Centuri Holdings now accounts for 4.29% of Icahn Enterprises LP's assets under management, indicating its significance in the investment portfolio despite not being among the top five holdings.
- Market Outlook Analysis: As a leading utility infrastructure services provider in North America, Centuri Holdings is positioned in critical areas of grid modernization and renewable energy build-out, with long investment cycles and regulated spending expected to drive future growth.
See More
Centuri Appoints New Board Member Steven Nielsen
- Board Expansion: Centuri Holdings, Inc. has appointed Steven Nielsen to its Board of Directors, increasing the board size to nine members, aiming to enhance corporate governance by introducing an independent director with extensive industry experience.
- Rich Leadership Experience: During his tenure as CEO at Dycom Industries, Nielsen successfully scaled the company’s revenue from under $200 million to over $4.5 billion, showcasing his exceptional leadership in the specialty contracting services sector, which is expected to drive strategic growth for Centuri.
- Future Outlook: Nielsen expressed enthusiasm about contributing his experience to Centuri's growth, aiming to help the company build greater market trust and performance in the energy infrastructure services sector, reflecting the company's confidence in future growth.
- Shareholder Meeting Participation: Nielsen will stand for election at the 2026 Annual Meeting of Shareholders, indicating the company's commitment to long-term strategy while providing shareholders with increased governance participation opportunities.
See More
Centuri Holdings Q1 Earnings Beat Expectations
- Earnings Performance: Centuri Holdings reported a Q1 GAAP EPS of -$0.09, beating expectations by $0.04, indicating positive signs of recovery in profitability despite still being in a loss position.
- Significant Revenue Growth: The company achieved revenue of $723.2 million, a 31.5% year-over-year increase, surpassing market expectations by $105.86 million, demonstrating strong sales growth amid robust market demand.
- Gross Profit Surge: Gross profit for the quarter reached $35.8 million, reflecting a substantial 76% increase from the previous year, showcasing significant improvements in cost control and operational efficiency, thereby enhancing profitability.
- New Customer Awards: Centuri Holdings secured over $345 million in new customer awards, further solidifying its market position and providing strong support for future revenue growth.
See More
Riggs, Smulders, and Cherubini Sign Strategic Teaming Agreement
- Strategic Teaming Agreement: Riggs Distler, Smulders, and Cherubini Bridges & Structures have signed a strategic teaming agreement aimed at supporting the fabrication and delivery of offshore renewable energy infrastructure in Nova Scotia, combining U.S. and European offshore wind expertise with Canadian manufacturing capabilities to accelerate the development of a domestic offshore wind supply chain.
- Market Target: This agreement supports Canada's goal of achieving 5 GW of offshore wind capacity by 2030, reflecting Nova Scotia's significant role in the global energy transition, particularly given its status as home to some of the strongest offshore wind resources in the world.
- Local Manufacturing Capability: Cherubini will utilize over 250,000 square feet of fabrication space with direct access to quayside and marine vessels, enhancing local manufacturing capacity for wind components, thereby boosting supply chain capabilities and job creation in Nova Scotia.
- Global Experience Integration: The combined expertise of Riggs Distler, Smulders, and Cherubini, totaling over 200 years in the industry, aims to leverage global knowledge and local capabilities to drive long-term growth in Nova Scotia's offshore wind sector.
See More
Centuri Holdings Secures Over $345 Million in New Contracts
- Total New Contracts: Centuri Holdings announced it has secured over $345 million in new commercial awards across the U.S., covering natural gas and electric infrastructure projects, indicating strong demand and growth potential in the market.
- Project Composition: Approximately 70% of the awards stem from new projects and expanded Master Services Agreements, while the remainder consists of renewals with existing customers, showcasing the company's dual success in client retention and new business development.
- Year-to-Date Bookings: Year-to-date bookings for Centuri in 2026 are nearing $1.4 billion, reflecting sustained growth and market confidence in the infrastructure sector.
- Future Outlook: Centuri targets a base revenue of $3.15 billion to $3.45 billion for 2026, further strengthening its backlog and margin initiatives, signaling potential for sustainable growth in the future.
See More
Icahn Enterprises Increases Stake in Centuri Holdings
- Increased Holdings: Icahn Enterprises increased its stake in Centuri Holdings by 3,488,372 shares in Q4 2026, with an estimated transaction value of $77.99 million, indicating sustained confidence in the company.
- Market Valuation Growth: The latest report values Centuri Holdings at $361.99 million, an increase of $132.34 million from the previous filing, reflecting the impact of new purchases and price movements.
- Market Performance: As of March 20, 2026, Centuri Holdings shares were priced at $29.12, marking a 69.5% increase over the past year, outperforming the S&P 500 by 46.33 percentage points, showcasing strong market performance.
- Business Overview: Centuri Holdings focuses on gas and electric utility infrastructure services, supporting modernization and reliability, with over 8,600 employees and $2.84 billion in annual revenue, demonstrating its leadership position in North America.
See More
Icahn Enterprises Increases Stake in Centuri Holdings
- Share Acquisition: Icahn Enterprises LP acquired an additional 3,488,372 shares of Centuri Holdings in Q4, with an estimated transaction value of $77.99 million, reflecting ongoing confidence in the company.
- Asset Value Increase: This trade raised Icahn's quarter-end position value to $361.99 million, an increase of $132.34 million from the previous filing, demonstrating the dual impact of new purchases and stock price appreciation.
- Portfolio Proportion: Centuri Holdings now accounts for 4.29% of Icahn Enterprises LP's assets under management, indicating its significance in the investment portfolio despite not being among the top five holdings.
- Market Outlook Analysis: As a leading utility infrastructure services provider in North America, Centuri Holdings is positioned in critical areas of grid modernization and renewable energy build-out, with long investment cycles and regulated spending expected to drive future growth.
See More
Centuri Appoints New Board Member Steven Nielsen
- Board Expansion: Centuri Holdings, Inc. has appointed Steven Nielsen to its Board of Directors, increasing the board size to nine members, aiming to enhance corporate governance by introducing an independent director with extensive industry experience.
- Rich Leadership Experience: During his tenure as CEO at Dycom Industries, Nielsen successfully scaled the company’s revenue from under $200 million to over $4.5 billion, showcasing his exceptional leadership in the specialty contracting services sector, which is expected to drive strategic growth for Centuri.
- Future Outlook: Nielsen expressed enthusiasm about contributing his experience to Centuri's growth, aiming to help the company build greater market trust and performance in the energy infrastructure services sector, reflecting the company's confidence in future growth.
- Shareholder Meeting Participation: Nielsen will stand for election at the 2026 Annual Meeting of Shareholders, indicating the company's commitment to long-term strategy while providing shareholders with increased governance participation opportunities.
See More
