What move does the options market price into Centuri's report?

Implied ±9.0%, either direction.

How often does Centuri move more than the options market prices?

3 of the last 8 reports moved at least as far as the implied move.

CTRINYSENatural Gas Transmisison & Distribution

Centuri Holdings, Inc. (CTRI) earnings date, market-implied expected move, and options open interest by expiry

21.30

+0.02 · +0.10%

post 21.94 +2.98%

After hours15:59 ETdelayed

Open21.40Volume1.4MMkt cap$2.1BP/E66.48EPS0.33

Day21.40 – 21.9598%52-wk18.60 – 42.9914%

CTRI

Centuri Holdings, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±9.0%implied · report alone

8Q avg ±9.1%·×0.99·fair

19.9923.97

straddle ±12.6%

spot 21.98exp Nov 20ATM strike 22.5ATM straddle 3.25IV 84%

Nov 3 closereport share · term structure

Expected move

Inputs

Next report

Nov 4

before open · in 1 day

est.Q3 FY26

Calendar

Next report

Last report

−21.46%

vs ±13.3% implied · ×1.61

shaded = implied · ▲▼ = realized

Aug 4 '26 · confirmed

Implied vs realized

Largest filed tie

65.00%

of CTRI revenue · Top 20 customers

customerCTRI 10-K

Supply chain

Largest filed tie

13F top-10 QoQ

−1.26%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

248 managers

Top fund weight

0.08%

CTRI weight · IWM

N-PORTJun 30 '26

3 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Centuri (CTRI) is expected to report on Nov 4 before open (estimated date).

Implied vs realized

8 reports

3 of 8≥ implied

avg implied: ±14.2%
avg realized: ±9.1%

Nov 6 '24Nov 6 '24confirmed±21.6%▼−2.01%×0.09

Feb 26 '25Feb 26 '25confirmed±19.1%▼−7.03%×0.37

May 12 '25May 12 '25confirmed±13.3%▼−8.48%×0.64

Aug 6 '25Aug 6 '25confirmed±13.0%▼−2.24%×0.17

Nov 5 '25Nov 5 '25confirmed±7.8%▲+11.33%×1.46

Q1 FY26Feb 25 '26confirmed±12.3%▼−0.94%×0.08

May 6 '26May 6 '26confirmed±13.2%▼−19.62%×1.48

Q2 FY26Aug 4 '26confirmed±13.3%▼−21.46%×1.61

quarterimplied−25%0+25%realized×

Q2 FY26±13.3%▼−21.46%×1.61

May '26±13.2%

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 4 expiries · Nov 2 close

0.43OI · 4 expiries · Nov 2 closeP/C open interest · Nov 20 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

7960%Nov 2017d1,8510%

6+500%Dec 1845d0.04153+16%0.04

1330%Jan 1573d0.026,4770%0.02

290%Feb 19108d0.27109+51%0.27

ExpiryPutsCallsP/C

Nov 2017d7960%1,8510%0.43

Dec 1845d6+500%153+16%0.04

Jan 1573d1330%6,4770%0.02

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

scenario · straddle±12.6%

Funds 3

IWM±0.0%

UWM±0.0%

VTI±0.0%

Dashed = straddleMethod Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

0.64%as filednet margin · revenue +33.02% QoQ · +32.86% YoY

Revenue

$962M+33.02% QoQ

Gross profit

$69M+93.36% QoQ

7.19% margin

Operating income

$24M+609.26% QoQ

2.51% margin

Pre-tax income

$12M+171.29% QoQ

Net income

$6M+164.82% QoQ

0.64% margin

Cost of revenue

$893M+29.88% QoQ

Operating expenses

$45M+11.09% QoQ

SG&A $37M

Other operating $8M

Other expense

$12M

Tax

$6M+179.19% QoQ

Revenue$962M+33.02%

Gross profit

$69M+93.36%

7.19% margin

Operating income

$24M+609.26%

2.51% margin

Pre-tax income

$12M+171.29%

Net income

$6M+164.82%

0.64% margin

Cost of revenue

$893M+29.88%

Operating expenses

$45M+11.09%

SG&A $37M

Other operating $8M

Other expense

$12M

Tax$6M+179.19%

flow · deduction · signed % = QoQSource: SEC filings · standardized · QE Jun 28 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 3 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 16:00 ET

Intraday

Event sensitivity

FOMC ×1.42· ±3.3% vs ±2.3% · 20 releases

eventrelease day|move|up · n×base

FOMCrate decision±3.3%10 of 20×1.42

GDPgross domestic product±2.6%11 of 19×1.15

NFPjobs report±2.5%5 of 10×1.09

PCEpersonal income & outlays±2.2%13 of 19×0.97

CPROFcorporate profits±2.0%8 of 12×0.88

CPIconsumer prices±1.9%3 of 10×0.81

PPIproducer prices±1.7%6 of 10×0.75

Bar = avg |move| to ±4% · tick = ±2.3% avg day · ×base = |move| ÷ ±2.3% · min 6 releases

Earnings history

EPS 0.06 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 4 '26 · confirmed	0.06	—
Q1 FY26	Feb 25 '26 · confirmed	-0.09	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod