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, 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.  

Primoris Services Corporation Announces Board Change

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Heavy Construction Outlook: Rosy on High Public Spending

DALLAS, Jan.  28, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced new pipeline awards with a combined value over $260 million.  The contracts were secured by Rockford and Primoris Field Services, both part of the Pipeline and Underground segment. 

Primoris Services Corporation Announces Pipeline Awards Valued Over $260 Million

DALLAS, Jan.  23, 2020  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new award valued over $54 million. The contract was secured by Primoris Heavy Civil, part of the Civil segment.

Primoris Services Corporation Announces Heavy Civil Award Valued Over $54 Million

DALLAS, Dec.  31, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced that Primoris Director Carla Mashinski has been named to the WomenInc. magazine’s 2019 list of Most Influential Corporate Directors in its Winter 2019 edition. WomenInc.'s Most Influential Corporate Directors issue is a comprehensive listing of female directors, executives, influencers and achievers who are currently contributing leadership to corporate boards.

Primoris Services Corporation Director Carla Mashinski Named to WomenInc. Most Influential Corporate Directors

DALLAS, Dec.  17, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new award valued over $27 million.  The contract was secured by Primoris Heavy Civil, part of the Civil segment. 

Primoris Services Corporation Announces Heavy Civil Award Valued Over $27 Million

DALLAS, Dec.  16, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new Master Service Agreement (“MSA”) award with a major utility customer with a cumulative five year anticipated value of $1 billion.  The contract was secured by Primoris T&D, part of the Transmission & Distribution segment, and replaces an existing MSA that expires at the end of 2019.

Primoris Services Corporation Announces Electric T&d Award Valued at $1 Billion

DALLAS, Dec.  11, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced that the Company has purchased 2,316,960 shares of common stock for an aggregate consideration of $50 million from Brian Pratt, a member of the Company’s Board of Directors (the “Board”). The transaction completes the share repurchase program announced by the Company on November 4, 2019, and was funded with cash on hand.

Primoris Services Corporation Announces Repurchase of Common Stock

DALLAS, Dec.  09, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced that Brian Pratt has informed the Board of Directors of his plan to step down as a Director of the Company at the adjournment of the next regularly scheduled Board meeting in February 2020. Mr. Pratt has served as a Director since May 2019, and he served as Chairman of the Board from August 2015 to May 2019. From 1983 to August 2015, Mr. Pratt served as the President, Chief Executive Officer and Chairman of the Board of Primoris and its predecessor, ARB, Inc.

Primoris Services Corporation Announces Pending Board Change

DALLAS, Dec.  06, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced two new engineering awards with a combined value over $34 million.  The contracts were secured by OnQuest, part of the Power, Industrial, & Engineering segment. 

Primoris Services Corporation Announces Engineering Awards Valued Over $34 Million

DALLAS, Dec.  05, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced two new pipeline awards with a combined value over $45 million.  The contracts were secured by Rockford Corporation, part of the Pipeline & Underground segment. 

Primoris Services Corporation Announces Pipeline Awards Valued Over $45 Million

DALLAS, Nov.  19, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced two new industrial awards with a combined value over $30 million. The contracts were secured by Primoris Industrial Constructors, part of the Power, Industrial, & Engineering segment.

Primoris Services Corporation Announces Industrial Awards Valued Over $30 Million

DALLAS, Nov.  13, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced that its senior management will be presenting at the Stephens, Inc. Nashville Investment Conference on Thursday, November 14 in Nashville, Tennessee. 

Primoris Services Corporation to Attend Investor Conference

Primoris Services Corporation (PRIM) CEO David King on Q3 2019 Results - Earnings Call Transcript

DALLAS, Nov.  01, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced its Board of Directors has approved an executive transition effective November 4, 2019.  David King will transition out of his position as Chief Executive Officer, while remaining as Chairman of the Board and assuming the non-employee role of Senior Strategic Advisor.  The Company also announced that its Board of Directors has unanimously selected Primoris’ President Tom McCormick to succeed Mr. King as the Company’s Chief Executive Officer.  Mr. King will transition from his position as Chief Executive Officer after filing of the Company’s third quarter Form 10-Q and earnings call.

Primoris Services Corporation Announces Executive Transition

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: Wall Street Expects Earnings Growth

DALLAS, Oct.  02, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced an extension of an existing Master Service Agreement (“MSA”) with a major utility customer with a combined two year anticipated value of $15 million.  The contract was secured by Primoris T&D, part of the Transmission & Distribution segment.  This contract was signed in the third quarter of 2019.

Primoris Services Corporation Announces Electric T&D Award Valued at $15 Million

DALLAS, Oct.  01, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced two new heavy civil awards with a combined value over $79 million.  The contracts were secured by Primoris Heavy Civil, part of the Civil segment. These awards were signed in the third quarter of 2019.

Primoris Services Corporation Announces Heavy Civil Award Valued Over $79 Million

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Heavy Construction Outlook: Bullish on Solid Public Outlays

DALLAS, Sept.  17, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced that its senior management will be presenting at the D.A. Davidson 18th Annual Diversified Industrials & Services Conference on Thursday, September 19th in Chicago, Illinois. 

Primoris Services Corporation to Attend Investor Conference.

DALLAS, Sept.  16, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced three new awards with Canadian customers for work in Northern Alberta, Canada with a combined anticipated value over $43 million. The contracts were secured by Primoris Canada, part of the Power, Industrial, and Engineering segment.

Primoris Services Corporation Announces Canadian Awards Valued Over $43 Million

DALLAS, Sept.  09, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new Master Service Agreement (“MSA”) with a major utility customer with an anticipated value over $140 million.  The contract was secured by ARB Underground, part of the Utilities & Distribution segment.

Primoris Services Corporation Announces Utility MSA Valued Over $140 Million

DALLAS, Sept.  03, 2019  (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new heavy civil award valued over $18 million.  The contract was secured by Primoris Heavy Civil, part of the Civil segment. 

Primoris Services Corporation Announces Heavy Civil Award Valued Over $18 Million

Primoris Services (PRIM) delivered earnings and revenue surprises of 20.69% and 7.40%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?

Primoris Services (PRIM) Tops Q2 Earnings and Revenue Estimates

Investors often forget about due diligence and lose sight of underlying fundamentals when macroeconomic headlines drive the conversation about a sector or stock.

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