Dive Brief:

• Utility and energy infrastructure company Centuri Holdings named Kelly Youngblood, an experienced energy industry financial executive, to the role of its CFO as part of a suite of appointments to its executive leadership team, according to a Wednesday press release and securities filing. Centuri provides energy infrastructure to regulated utilities across the U.S. and Canada, according to its website.
• Youngblood, who worked most recently at oil and gas business MRC Global for six years, succeeded Gregory A. Izenstark as the Phoenix-based Centuri’s finance chief, according to the Securities and Exchange Commission filing.  
• Centuri also appointed Danielle Hunter to the position of chief legal administrative officer and corporate secretary, succeeding Jason S. Wilcock, according to the press release. Both appointments were effective immediately.

Dive Insight:

Youngblood’s past experience includes three decades at oil services giant Halliburton, where he served in roles including vice president of investor relations and senior director of finance for the Western Hemisphere. He has also served as CFO for oil and gas business BJ Services and for Diamond Offshore.

Youngblood most recently served as senior advisor to the CEO of oil and gas company MRC Global Inc after its merger with energy provider DNOW, which closed in November 2025 according to a release at the time. Before the merger, he served fives years as MRC Global’s CFO, according to his LinkedIn profile.

As CFO, Youngblood, 60, will receive an annual base salary of $680,000 and will be eligible to earn an annual bonus equal to 85% of his base salary prorated for 2026, according to the SEC filing. He will also receive a grant of restricted stock units with a grant date value of just over $2 million, consisting of the long-term annual incentive award for 2026 and an additional $500,000 set to vest in equal installments over a three-year period, according to the filing.

For each fiscal year beginning 2027, Youngblood will also be eligible for an annual long-term incentive award equal to 225% of his base salary.

The executive leadership appointments follow shortly after the energy company reported results for its second quarter last week, where Centuri notched a 19% year-over-year bump in gross profit to $104.9 million for the first half of 2026.

However, the company also flagged challenges from ongoing economic headwinds, such as higher fuel prices, which impacted results for the quarter ended June 28. Centuri estimates rising fuel prices negatively impacted its Q2 results for about $6 million, while the business saw a $3 million negative impact linked to “investment in resources, mobilization and ramp up associated with increased headcount” in its U.S. gas segment, according to its earnings release on Aug. 4.

Centuri also updated its guidance for the full-year 2026, which includes an anticipated incremental expense of about $5 million associated with higher fuel costs assuming they persist throughout its third quarter. It also expects to see contributions from its acquisition of JJ White, a mechanical and electric maintenance and construction building, which closed in July.

For the full-year, Centuri is expecting base gross profit of between $270 million to $290 million, according to its earnings report. This compares to the $255 million to $285 million range the company released for its first quarter.