Centuri appoints former Halliburton finance executive as CFO
Centuri Holdings announced Kelly Youngblood as CFO, succeeding Gregory A. Izenstark. Youngblood, formerly of Halliburton and MRC Global, will receive a base salary of $680,000 and other incentives. The company also named Danielle Hunter to a top legal role. The appointments come as Centuri reported a 19% rise in gross profit for H1 2026 but flagged fuel cost headwinds.
Centuri Holdings, a utility and energy infrastructure company, has appointed Kelly Youngblood, an experienced energy industry financial executive, as its chief financial officer. The announcement came Wednesday via a press release and a securities filing, which also detailed several other changes to the company's executive leadership team. Centuri provides energy infrastructure services to regulated utilities across the United States and Canada, according to its website.
Executive Appointments
Youngblood, who most recently worked at oil and gas business MRC Global for six years, succeeds Gregory A. Izenstark as finance chief of the Phoenix-based company, according to the U.S. Securities and Exchange Commission (SEC) filing. In addition, Centuri appointed Danielle Hunter to the role of chief legal administrative officer and corporate secretary, succeeding Jason S. Wilcock, as stated in the press release. Both appointments were effective immediately.
Youngblood's Background
Youngblood's past experience includes three decades at oil services giant Halliburton, where he held 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 businesses BJ Services and Diamond Offshore.
Most recently, Youngblood served as senior advisor to the CEO of 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 spent five years as MRC Global's CFO, per his LinkedIn profile.
Compensation Details
As CFO, Youngblood, 60, will receive an annual base salary of $680,000 and will be eligible for 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, comprising the long-term annual incentive award for 2026 and an additional $500,000 set to vest in equal installments over a three-year period. For each fiscal year beginning 2027, Youngblood will be eligible for an annual long-term incentive award equal to 225% of his base salary.
Recent Financial Performance
The executive leadership appointments follow shortly after the company reported its second-quarter results last week. Centuri notched a 19% year-over-year increase 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 that rising fuel prices negatively impacted its Q2 results by 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 electrical maintenance and construction business, which closed in July.
For the full year, Centuri expects base gross profit of between $270 million and $290 million, according to its earnings report. This compares to the $255 million to $285 million range the company released for its first quarter.