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.

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) announced it was awarded seven projects secured by the Energy/Renewables segment with a combined estimated value of approximately $400 million.

Primoris Services Corporation Secures Contracts Valued at Approximately $400 Million in the Energy/Renewables Segment

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DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) will report third quarter 2022 financial results on Monday, November 7, 2022, after market close.

Primoris Services Corporation Schedules Third Quarter 2022 Earnings Conference Call and Webcast

Is Primosris Services (PRIM) a great pick from the value investor's perspective right now? Read on to know more.

Is Primosris Services (PRIM) a Great Pick for Value Investors?

Primoris Services (PRIM) to gain on strong project execution and continuous contract flow.

Why You Should Buy Primoris (PRIM) Despite Stock Decline

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) announced today that the Company's management team will participate in two institutional investor conferences in September, the 2022 RBC Global Industrials Conference and the DA Davidson 21st Annual Diversified Industrials and Services Conference. September 13: 2022 RBC Global Industrials Conference September 22: DA Davidson 21st Annual Diversified Industrials & Services Confere

Primoris Services Corporation to Participate in September 2022 Investor Conferences

This pipeline award will enable Primoris Services (PRIM) to build 60 miles of pipeline in Texas, fortifying its Pipeline Services segment.

Primoris (PRIM) Secures $120M Pipeline Deal, Boosts Backlog

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) announced today a pipeline award valued over $120 million. The contract was secured by the Pipeline Services Segment. The award is for the construction of nearly 60 miles of pipeline in Texas. Work is scheduled to commence in the third quarter of 2022 and completion is expected in the second quarter of 2023. About Primoris Primoris Services Corporation is a leading specialty contrac

Primoris Services Corporation Awarded Pipeline Project, Valued Over $120 Million

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Primoris (PRIM) receives a contract for the utility-scale solar facility in the Southwest, fortifying the Energy/Renewables unit.

Primoris (PRIM) $270M Solar Deal to Aid Energy/Renewables Arm

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) today announced a solar project award with an estimated value of $270 million. The contract was secured by the Company's Energy/Renewables Segment. The award is for the engineering, procurement, and construction of a utility-scale solar facility in the Southwest, adding approximately 500 megawatts to over 3,900 megawatts of solar power projects which Primoris currently has under con

Primoris Services Corporation Awarded $270 Million Solar Project

Primoris Services Corp (NASDAQ:PRIM ) Q2 2022 Earnings Conference Call August 9, 2022 10:00 AM ET Company Participants Jeremy Apple - IR Thomas McCormick - CEO, President & Director Kenneth Dodgen - EVP & CFO Conference Call Participants Jerry Revich - Goldman Sachs Group Peter Lukas - CJS Securities Steven Fisher - UBS Sean Eastman - KeyBanc Capital Markets Brent Thielman - D.A. Davidson & Co. Julio Romero - Sidoti & Company Adam Thalhimer - Thompson, Davis & Company Operator Hello.

Primoris Services Corp (PRIM) CEO Thomas McCormick on Q2 2022 Results - Earnings Call Transcript

Primoris Services (PRIM) delivered earnings and revenue surprises of -18.64% and 9%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Primoris Services (PRIM) Q2 Earnings Lag Estimates

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ GS: PRIM) (“Primoris” or the “Company”) today announced financial results for its second quarter ended June 30, 2022 and provided the Company's outlook for 2022. For the second quarter 2022, Primoris reported the following(1): Record revenue of $1,022.9 million Net income of $50.2 million Fully diluted earnings per share (“EPS”) of $0.93 Adjusted net income of $26.1 million Adjusted diluted earnings per share (“Adjusted EPS”) of $0.

Primoris Services Corporation Reports Second Quarter 2022 Results

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”), a leading provider of specialty contracting services in North America, announced today that it has closed its acquisition of PLH Group, Inc. (“PLH Group” or “PLH”) in an all-cash transaction valued at $470 million. The transaction directly aligns with Primoris' strategic focus on higher-growth, higher-margin markets and expands its capabilities in the utility markets, including pow

Primoris Services Corporation Completes PLH Group Acquisition

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Is Primoris Services (PRIM) a Great Value Stock Right Now?

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) today announced its plans to release financial results for the second quarter 2022 on Monday, August 8, 2022, after market close. A copy of the Company's press release will be available on the Primoris website at www.primoriscorp.com. Management will host a conference call and webcast on Tuesday, August 9, 2022, at 9:00 a.m. U.S. Central Time (10:00 a.m. U.S. Eastern Time), to discu

Primoris Services Corporation Schedules Second Quarter 2022 Earnings Conference Call and Webcast

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Primoris Services (PRIM) receives a contract from the Texas Department of Transportation, fortifying the Energy/Renewables unit.

Primoris (PRIM) Wins $170M Heavy Civil Project, Aids Backlog

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) today announced that Tom McCormick, President and Chief Executive Officer, and Ken Dodgen, Chief Financial Officer, will participate in the CJS Securities 22nd Annual New Ideas Summer Conference on Tuesday, July 12, 2022. A copy of the Company's presentation will be posted to the Company's Investor Relations section of its website, www.primoriscorp.com, before the opening of trading

Primoris Services Corporation to Participate in the CJS Securities 22nd Annual New Ideas Summer Conference

Primoris Services (PRIM) expands its footprint for Power Delivery services with the buyout of PLH Group.

Primoris (PRIM) to Buy PLH Group, Expands Utility Business

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) announced today that it has entered into a definitive merger agreement to acquire PLH Group, Inc. (“PLH Group” or “PLH”) in an all-cash transaction valued at $470 million. Primoris, one of the top specialty contractors in the U.S., provides critical infrastructure services to the utility, renewables and other related energy markets. The Company's strategic focus on utility markets i

Primoris Services Corporation to Expand Utility Business through Acquisition of PLH Group, Inc.

Primoris Services (PRIM) receives a contract for the utility-scale solar facility in the South, fortifying the Energy/Renewables unit.

Primoris' (PRIM) $260M Solar Deal to Aid Energy/Renewables Arm

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) today announced a solar project with an estimated value of $260 million. The contract was secured by the Company's Energy/Renewables Segment. “The organic growth of our utility-scale solar business is one measure of the success of our energy transition strategy,” said Tom McCormick, President and Chief Executive Officer of Primoris. “With over 3,200 megawatts of solar power projects

Primoris Services Corporation Awarded $260 Million Solar Project

The consensus price target hints at a 41.7% upside potential for Primoris Services (PRIM). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

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