Johnson Fistel Begins Investigation into Centuri Following a Significant Drop in the Company’s Stock Price

SAN DIEGO, July 30, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP (www.JohnsonFistel.com) is investigating whether Centuri Holdings, Inc. (NYSE: CTRI), any of its executive officers, or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors’ losses and whether they may be recovered under the federal securities laws.

What if I purchased Centuri common stock? If you purchased Centuri common stock and suffered losses on your investment, join our investigation now: https://www.johnsonfistel.com/investigations/centuri.

Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471.

There is no cost or obligation to you.

What is Johnson Fistel investigating? On July 29, 2024, Centuri reported its financial results for the second quarter, revealing a Non-GAAP Earnings Per Share (EPS) of $0.20, which falls short by $0.02 in comparison to market expectations. Additionally, the company's revenue for the quarter was disclosed at $643.39 million, representing a year-over-year decline of 17.0%, and missing analyst projections by $117.03 million.

Just months earlier on April 18, 2024, Centuri conducted its initial public offering ("IPO"), and the company sold 12.4 million shares for $21. Since the IPO, the stock has plummeted and on July 29, 2024, Centuri stock closed at $15.72.

Specifically, Johnson Fistel's investigation seeks to determine whether the Company's filings with the U.S. Securities and Exchange Commission in connection with its April 2024 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company's business, and operations.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.

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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com