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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Earnings data Q3 2023

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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 today that the Company's management team will participate in three institutional investor conferences in June, including the KeyBanc Capital Markets Industrial & Basic Materials Conference, the Stifel Cross Sector Insight Conference and the Sidoti & Company, LLC Summer Investor Virtual Conference. June 1: KeyBanc Capital Markets Industrials & Basic Materials Co

Primoris Services Corporation to Participate in June 2022 Investor Conferences

Primoris Services Corporation (NASDAQ:PRIM ) Q1 2022 Earnings Conference Call May 10, 2022 10:00 AM ET Company Participants Thomas McCormick – President and Chief Executive Officer Kenneth Dodgen – Executive Vice President and Chief Financial Officer Brook Wootton – Vice President, Investor Relations Conference Call Participants Peter Lukas – CJS Securities Steven Fisher – UBS Sean Eastman – KeyBanc Capital Markets Julio Romero – Sidoti & Company Hardo Adamson – Goldman Sachs Adam Thalhimer – Thompson Davis Brent Thielman – D.A. Davidson Operator Thank you for standing by.

Primoris Services Corporation (PRIM) CEO Thomas McCormick on Q1 2022 Results - Earnings Call Transcript

Primoris Services (PRIM) delivered earnings and revenue surprises of -90% and 1.64%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

Primoris Services (PRIM) Q1 Earnings and Revenues Miss Estimates

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ GS: PRIM) (“Primoris” or the “Company”) today announced financial results for its first quarter ended March 31, 2022 and provided the Company's outlook for 2022. For the first quarter 2022, Primoris reported the following(1): Revenue of $784.4 million Net loss of $1.7 million Fully diluted earnings per share (“EPS”) loss of $0.03 Adjusted net income of $0.4 million Adjusted diluted earnings per share (“Adjusted EPS”) of $0.01 Adjust

Primoris Services Corporation Reports First Quarter 2022 Results

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) today announced a solar project with an estimated value of $130 million. The contract was secured by the Company's Energy/Renewables Segment. “This project is another great example of our segments working together to provide a complete solution for our clients,” said Tom McCormick, President and Chief Executive Officer of Primoris. “In addition to the photovoltaic work that our Ener

Primoris Services Corporation Awarded $130 Million Solar Project

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) today announced a solar project with an estimated value of $120 million. The contract was secured by the Company's Energy/Renewables Segment. “Our Energy/Renewables team continues to execute at an exceptional level that brings clients back to us,” said Tom McCormick, President and Chief Executive Officer of Primoris. “We value these strong and ongoing relationships.” “This will be o

Primoris Services Corporation Awarded $120 Million Solar Project

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) announced today that Tom McCormick, President and Chief Executive Officer, and Ken Dodgen, Chief Financial Officer, will meet with investors at the Goldman Sachs Industrials and Materials Conference on Wednesday, May 11, 2022, in New York. 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

Primoris Services Corporation to Participate in Goldman Sachs Industrials and Materials Conference

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) today announced its plans to release financial results for the first quarter 2022 on Monday, May 9, 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, May 10, 2022, at 9:00 a.m. U.S. Central Time (10:00 a.m. U.S. Eastern Time), to discuss the

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

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) today announced two projects with a combined value of more than $155 million. The awards were secured by the Company's Energy/Renewables Segment in Texas and Florida. The Heavy Civil contract, valued at more than $48 million, was awarded by the Texas Department of Transportation. The project is scheduled to commence in the second quarter of 2022 with completion expected in the fourt

Primoris Services Corporation Awarded Over $155 Million in Energy/Renewables Segment Contracts

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DALLAS--(BUSINESS WIRE)--Primoris Services Corporation to Participate in March Investor Virtual Conferences

Primoris Services Corporation to Participate in March Investor Conferences

McCormick

Primoris Services Corp (PRIM) CEO Thomas McCormick on Q4 2021 Results - Earnings Call Transcript

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ GS: PRIM) (“Primoris” or the “Company”) today announced financial results for its fourth quarter and full year ended December 31, 2021 and provided the Company's outlook for 2022. For the full year 2021, Primoris reported the following highlights (1): Revenue of $3.5 billion Utility Segment revenue up 21 percent Energy/Renewables Segment revenue up 15 percent Net income attributable to Primoris of $115.6 million, an increase of 10 p

Primoris Services Corporation Reports Fourth Quarter and Full Year 2021 Results

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation Awarded Over $75 Million in Energy/Renewables Segment Contracts

Primoris Services Corporation Awarded Over $75 Million in Energy/Renewables Segment Contracts

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation Schedules Fourth Quarter and Full Year 2021 Earnings Conference Call and Webcast

Primoris Services Corporation Schedules Fourth Quarter and Full Year 2021 Earnings Conference Call and Webcast

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation to Present at the Sidoti & Company, LLC 2022 Winter Investor Conference

Primoris Services Corporation to Present at the Sidoti & Company, LLC 2022 Winter Investor Conference

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a solar award with an estimated value of more than $370 million. The contract was secured by the Company's Energy/Renewables Segment. “Our proven ability to execute best-in-class utility-scale solar projects continues to attract repeat business,” said Tom McCormick, President and Chief Executive Officer of Primoris. “With this new contract, our solar project backlog now

Primoris Services Corporation Secures Solar Project Valued Over $370 Million

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation to Present at the CJS Securities 22nd Investor Conference

Primoris Services Corporation to Present at the CJS Securities 22nd Investor Conference

Primoris Services' (PRIM) Utilities segment to work on two multi-year gas distribution projects in California.

Primoris (PRIM) Wins Multi-Year MSA for Utilities Segment

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced two new Master Service Agreements (“MSA”) totaling over $225 million for gas distribution projects in California. The MSAs were secured by the Utilities Segment. “We have long-standing relationships spanning over forty years with both major utilities,” said Tom McCormick, President and Chief Executive Officer of Primoris. “These multi-year master service agreements expan

Primoris Services Corporation Announces Over $225 Million in Utilities Segment Awards

Primoris Services (PRIM) receives two contracts for the construction of highway and replacement of a bridge, thereby fortifying the Energy/Renewables unit.

Primoris (PRIM) Wins Heavy Civil Deals, Aids Renewables Unit

Primoris Services Corp (NASDAQ: PRIM) has received two heavy civil awards with a combined value of more than $32 million. The projects were secured by Energy/Renewables Segment and awarded by the Texas Department of Transportation.

Primoris Services Energy/Renewables Segment Bags $32M In Contracts

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation Awarded Contracts Valued Over $32 Million in Energy/Renewables Segment

Primoris Services Corporation Awarded Contracts Valued Over $32 Million in Energy/Renewables Segment

Primoris Services Corp's (NASDAQ: PRIM) Energy/Renewables Segment has received two solar project awards with an estimated value of $425 million. These awards are for the engineering, procurement, and construction of utility-scale solar facilities in the Southwest.

Primoris Procures ~$425M In Solar Project Awards

Primoris Services' (PRIM) Energy/Renewables segment receives two heavy civil contracts.

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