Primoris Services

Primoris Services Corp. operates as a holding company, which engages in the provision of construction, fabrication, maintenance, replacement, and engineering services. It operates through the following segments: Utilities, Energy and Renewables, and Pipeline. The Utilities segment specializes in a range of services, including telecommunications and installation and maintenance of new and existing natural gas and electric utility distribution and transmission systems. The Energy and Renewables segment is involved in engineering, procurement, and construction, retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services for entities in the renewable energy and energy storage, renewable fuels, and petroleum and petrochemical industries, as well as state departments of transportation. The Pipeline segment offers pipeline construction and maintenance, pipeline facility and integrity services, installation of compressor and pump stations, and metering facilities for entities in the petroleum and petrochemical industries, as well as gas, water, and sewer utilities. The company was founded by Brian Patt in 2004 and is headquartered in Dallas, TX.

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Primoris Services reports record 2022 revenue growth and positive outlook

Primoris Services delivered a strong performance in 2022, achieving record revenue and net income growth. The company overcame challenges and is well-positioned for continued success in 2023.
Strategic acquisitions, focus on talent, and disciplined execution are key strengths driving profitability and growth. Opportunities in solar business and utilities segment provide avenues for further expansion.
Maintaining operational efficiency, navigating challenges, and capitalizing on growth opportunities are crucial for Primoris Services' future success. The company's financial outlook for 2023 is positive, supported by strong cash flow and revenue expectations.

Primoris Services achieves record Q1 revenue, eyes growth opportunities

Primoris Services delivered a strong Q1 performance with record revenue and gross profit, driven by the Utility and Energy segments.
Despite challenges in maintaining margins and operational efficiency, Primoris remains focused on safety, quality, and growth strategies.
The company's emphasis on infrastructure investments and commercial initiatives aligns with opportunities for expansion and market trends.

Primoris Services reports record Q2 earnings and raises full-year guidance

Primoris Services delivered a strong performance in Q2 2023, with record revenue and profit, setting the stage for a positive outlook.
The company's focus on operational efficiency, margin improvements, and strategic vision bodes well for future growth.
While challenges like economic uncertainties and cost pressures exist, Primoris Services is well-positioned to capitalize on opportunities.
With raised full-year guidance and a commitment to financial stability, Primoris Services demonstrates resilience and growth potential.

Primoris Services excels in Q3, eyes renewables for growth

Primoris Services delivered a strong performance in Q3 2023, with record revenue and gross profit. The company is focused on reducing leverage, talent acquisition, and seizing growth opportunities in renewables and industrial sectors.

Primoris Services reports robust 2023 performance and outlines growth strategies

Primoris Services delivered strong financial performance in 2023, with revenue growth and improved margins.
The company aims to enhance margins in the Utility segment, monitor M&A opportunities, and focus on strategic growth areas.
Expectations of continued revenue growth, margin improvement, and expansion in renewables highlight a positive outlook for 2024.
Management's emphasis on safety, financial discipline, and long-term growth strategies position Primoris Services for future success.

Primoris Services reports strong Q1 earnings, eyes growth opportunities

Primoris Services delivered a robust performance in Q1 2024, driven by strong revenue and margin improvements.
While facing challenges in the Utilities segment, the company showcased resilience and growth potential in key areas.
Maintaining guidance and focusing on strategic growth initiatives position Primoris Services for continued success and expansion.
With a solid financial performance and a focus on key growth segments, Primoris Services is poised for sustained growth and profitability.

Primoris Services reports strong Q2 growth, eyes data center opportunities

Primoris Services delivered robust financial performance in Q2 2024, driven by double-digit revenue and profitability growth, particularly in the Energy segment.
While facing challenges in the Utility segment and increased SG&A expenses, the company's strong backlog and improved cash flow position it well for future growth.
By capitalizing on opportunities in data center development and renewables, Primoris is poised to maintain its growth trajectory and enhance shareholder value.

Primoris Services achieves record Q3 results, raises full-year guidance

Primoris Services delivered exceptional financial results in Q3 2024, with record revenue and earnings.
The company's strategic focus on higher-return contracts and operational efficiency drove improved margins.
Despite some revenue declines, Primoris remains well-positioned with a strong backlog and raised EPS guidance.
Opportunities in renewables and disaster response highlight potential areas for future growth and expansion.

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Primoris Services Corp. is a holding company, which engages in the provision of construction, fabrication, maintenance, replacement, and engineering services. It operates through the following segments: Utilities, Energy and Renewables, and Pipeline. The Utilities segment specializes in a range of services, including telecommunications and installation and maintenance of new and existing natural gas and electric utility distribution and transmission systems. The Energy and Renewables segment focuses on the engineering, procurement, and construction, retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services for entities in the renewable energy and energy storage, renewable fuels, and petroleum and petrochemical industries, as well as state departments of transportation. The Pipeline segment offers pipeline construction and maintenance, pipeline facility and integrity services, installation of compressor and pump stations, and metering facilities for entities in the petroleum and petrochemical industries, as well as gas, water, and sewer utilities. The company was founded by Brian Patt in 1960 and is headquartered in Dallas, TX.

Shares of Primoris Services (NASDAQ:PRIM) remained unaffected after the company reported Q2 results.

Primoris Services: Q2 Earnings Insights

Primoris Services Corporation Announces 2020 Second Quarter Financial Results

DALLAS, Aug.  03, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced two new solar awards with a combined value over $60 million.  The contracts were secured by the Power, Industrial, & Engineering segment. 

Primoris Services Corporation Announces Solar Awards Valued Over $60 Million

Primoris Services (PRIM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Primoris Services (PRIM) Reports Next Week: What to Expect

DALLAS, July  15, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) announced today that management will host a conference call at 10:00 am Eastern Time / 9:00 am Central Time on Tuesday, August 4, 2020 to discuss the Company’s second quarter results. The Company plans to release its results prior to the opening of the markets.

Primoris Services Corporation Schedules Conference Call to Discuss 2020 Second Quarter Financial Results

DALLAS, July  07, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced that its Board of Directors has appointed Patti Wagner and Terry McCallister as new directors, effective July 1, 2020.  Ms. Wagner’s and Mr. McCallister’s appointed terms will expire at the 2021 Annual Meeting, at which time they will be up for re-election.  With the addition of Ms. Wagner and Mr. McCallister, the Board will consist of ten members, of whom eight meet the Nasdaq guidelines as independent directors. The Board has not yet appointed Ms. Wagner or Mr. McCallister to any specific committees.

Primoris Services Corporation Appoints Two New Members to Its Board of Directors

DALLAS, July  01, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new pipeline award valued over $100 million. The contract was secured by the Pipeline & Underground segment. This award was signed in the second quarter of 2020.

Primoris Services Corporation Announces Pipeline Award Valued Over $100 Million

DALLAS, June  25, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new heavy civil award valued over $55 million. The contract was secured by the Civil segment. 

Primoris Services Corporation Announces Heavy Civil Award Valued Over $55 Million

DALLAS, June  24, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new solar award valued over $95 million. The contract was secured by the Power, Industrial, & Engineering segment. 

Primoris Services Corporation Announces Solar Award Valued Over $95 Million

DALLAS, June  18, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new solar award valued over $155 million. The contract was secured by the Power, Industrial, & Engineering segment. 

Primoris Services Corporation Announces Solar Award Valued Over $155 Million

DALLAS, June  17, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced the renewal of a Master Service Agreement (“MSA”) with a major utility customer with a five-year anticipated value of $60 million. The contract was secured by the Utilities & Distribution segment.   

Primoris Services Corporation Announces Utility Award Valued at $60 Million

DALLAS, June  11, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced three new utility awards valued over $45 million.  The contracts were secured by ARB Underground, part of the Utilities & Distribution segment. 

Primoris Services Corporation Announces Utility Awards Valued Over $45 Million

DALLAS, June  01, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced the award of a Limited Notice to Proceed (“LNTP”) for a new solar project with an initial value of $10 million and an anticipated final contract value of over $100 million.  The contract was secured by Primoris Renewable Energy, part of the Power, Industrial, & Engineering segment. 

Primoris Services Corporation Announces Solar Award

DALLAS, May  20, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced two new industrial awards with a combined value over $62 million. The contracts were secured by Primoris Industrial Constructors, part of the Power, Industrial, and Engineering segment. 

Primoris Services Corporation Announces Industrial Awards Valued Over $62 million

DALLAS, May  11, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new industrial award valued over $200 million.  The contract was secured by ARB Industrial, part of the Power, Industrial, and Engineering segment. 

Primoris Services Corporation Announces Industrial Award Valued Over $200 Million

Shares of Primoris Services (NASDAQ:PRIM) were unchanged at $14.64 after the company reported Q1 results.

Primoris Services: Q1 Earnings Insights

DALLAS, May  01, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced two new solar awards with a total combined value of approximately $50 million. The contracts were secured by Primoris Renewable Energy, part of the Power, Industrial, and Engineering segment. 

Primoris Services Corporation Announces Solar Awards Valued $50 Million

DALLAS, May  01, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new utility award valued over $22 million.  The contract was secured by ARB Underground, part of the Utilities & Distribution segment. 

Primoris Services Corporation Announces Utility Award Valued Over $22 Million

Earnings Preview: Primoris Services (PRIM) Q1 Earnings Expected to Decline

DALLAS, April  28, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced the renewal of a Master Service Agreement (“MSA”) with a major utility customer with a three year anticipated value of $105 million. The contract was secured by Q3 Contracting, part of the Utilities & Distribution segment. 

Primoris Services Corporation Announces Utility Award Valued at $105 Million

DALLAS, April  02, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced new pipeline awards with a combined value over $100 million.  The contracts were secured by Primoris Pipeline and Primoris Field Services, both part of the Pipeline and Underground segment.  These awards were signed in the first quarter of 2020.

PRIMORIS SERVICES CORPORATION ANNOUNCES PIPELINE AWARDS VALUED OVER $100 MILLION

DALLAS, March  31, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new award valued over $49 million.  The contract was secured by Primoris Heavy Civil, part of the Civil segment. 

PRIMORIS SERVICES CORPORATION ANNOUNCES HEAVY CIVIL AWARD VALUED OVER $49 MILLION

DALLAS, March  26, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced two new utility awards with a combined value over $35 million.  The contracts were secured by Q3 Contracting and ARB Underground, both part of the Utilities & Distribution segment. 

PRIMORIS SERVICES CORPORATION ANNOUNCES UTILITY AWARDS VALUED OVER $35 MILLION

Primoris Services Corporation's (PRIM) CEO Tom McCormick on Q4 2019 Results - Earnings Call Transcript

DALLAS, Texas, Feb.  24, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced that Brian Pratt resigned from the Board of Directors on Thursday, February 20, 2020.  In December 2019, the Company previously announced Mr. Pratt’s intentions to resign at the regularly scheduled Board meeting this month.  

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