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.

Primoris Services Corporation (NYSE:PRIM ) Q1 2024 Results Conference Call May 9, 2024 10:00 AM ET Company Participants Blake Holcomb - Vice President of Investor Relations Tom McCormick - President and Chief Executive Officer Ken Dodgen - Chief Financial Officer Conference Call Participants Lee Jagoda - CJS Securities Steven Fisher - UBS Jerry Revich - Goldman Sachs Brent Thielman - D.A. Davidson Julio Romero - Sidoti & Company Adam Thalhimer - Thompson, Davis Operator Ladies and gentlemen, thank you for standing by.

Primoris Services Corporation (PRIM) Q1 2024 Earnings Call Transcript

Primoris' (PRIM) first-quarter results reflect solid contributions from the Energy segment.

Primoris (PRIM) Q1 Earnings & Revenues Top, Up Y/Y, Stock Rise

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”) today announced financial results for its first quarter ended March 31, 2024 and provided comments on the Company's operational performance and outlook for 2024. For the first quarter of 2024, Primoris reported the following highlights (1): Revenue of $1,412.7 million, up $155.8 million, or 12.4 percent, compared to the first quarter of 2023 primarily driven by strong growth in utility-scale solar.

Primoris Services Corporation Reports First Quarter 2024 Results

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”) today announced it will report first quarter 2024 financial results on Wednesday, May 8, 2024, after market close. The Company's press release will be available on the Primoris website at www.prim.com. In conjunction with the press release, management will host a conference call and webcast on Thursday, May 9, 2024 at 9:00 a.m. U.S. Central Time (10:00 a.m. U.S. Eastern Time), to discuss the Compan.

Primoris Services Corporation Schedules First Quarter 2024 Earnings Conference Call and Webcast

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NYSE: PRIM) is hosting an Investor Day from New York City on Wednesday, April 3, 2024. The event is scheduled to begin at approximately 10:00 a.m. ET and is expected to conclude at approximately 12:00 p.m. ET. Senior management will discuss the company's strategic initiatives and multi-year financial targets and engage in a question-and-answer discussion. The live webcast will be available to the public in the Investor Relations “Events &a.

Primoris Services Corporation to Host 2024 Investor Day

Primoris Services Corporation has demonstrated strong execution and solid operating results, positioning the company to capitalize on the green energy transition and AI-driven demand for data center power. The company's record financial performance and increased backlog indicate operational excellence and market confidence, with potential for further repricing as trends in renewable energy and AI technology continue to drive growth. Primoris is undervalued compared to its peers, with a favorable forward P/E ratio and the potential for a significant increase in stock price. The company's strategic positioning and efficient capital structure make it a strong buy.

Primoris: AI Power Play

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”), a leading provider of critical infrastructure services to the utility, energy, and renewables markets, announced today that it will host and webcast its 2024 Investor Day from the New York Stock Exchange on Wednesday, April 3, 2024. Senior management will present an updated overview of the Company's strategic initiatives and multi-year financial targets and engage in a question-and-answer discussi.

Primoris Services Corporation to Provide Strategic Update and Financial Targets

Primoris Services Corporation (PRIM) Q4 2023 Earnings Call Transcript

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”) today announced financial results for its fourth quarter and full year ended December 31, 2023 and provided the Company's initial outlook for 2024. For the full year 2023, Primoris reported the following highlights (1): Revenue of $5.7 billion, up $1.3 billion, or 29.3 percent, compared to the full year of 2022 driven by strong growth in the Energy and Utilities segments, including contributions fr.

Primoris Services Corporation Reports Fourth Quarter and Full Year 2023 Results

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”) today announced it will report fourth quarter and full year 2023 financial results on Monday, February 26, 2024, after market close. The Company's press release will be available on the Primoris website at www.prim.com. In conjunction with the press release, management will host a conference call and webcast on Tuesday, February 27, 2024, at 9:00 a.m. U.S. Central Time (10:00 a.m. U.S. Eastern Time.

Primoris Services Corporation Schedules Fourth Quarter and Full Year 2023 Earnings Conference Call and Webcast

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”) announced several awards with a combined value of approximately $1.1 billion secured by the Company's Energy Segment. The awards included more than $700 million for engineering, procurement and construction of utility-scale solar projects secured in the fourth quarter of 2023 and a natural gas repowering project with battery energy storage valued at more than $350 million awarded in the first quart.

Primoris Services Corporation Receives Projects Valued at Approximately $1.1 Billion

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”) announced today it received several awards with a combined value over $800 million secured by the Company's Energy Segment, including more than $300 million for engineering, procurement and construction of utility-scale solar projects. “We continue to realize opportunities in our solar and industrial end markets based on long-standing customer relationships as well as the reputation and expertise o.

Primoris Services Corporation Receives Projects Valued Over $800 Million

Primoris Services Corporation (NYSE:PRIM ) Q3 2023 Earnings Conference Call November 8, 2023 10:00 AM ET Company Participants Blake Holcomb - Vice President, Investor Relations Tom McCormick - President and Chief Executive Officer Ken Dodgen - Chief Financial Officer Conference Call Participants Steven Fisher - UBS Lee Jagoda - CJS Securities Jerry Revich - Goldman Sachs Adam Thalhimer - Thompson Davis Brent Thielman - D.A. Davidson Julio Romero - Sidoti & Company Lee Jagoda - CJS Securities Operator Ladies and gentlemen, thank you for standing by.

Primoris Services Corporation (PRIM) Q3 2023 Earnings Call Transcript

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”) today announced financial results for its third quarter ended September 30, 2023 and provided comments on the Company's operational performance and outlook for 2023. For the third quarter of 2023, Primoris reported the following highlights (1): Revenue of $1,529.5 million, up $245.4 million, or 19.1 percent, compared to the third quarter of 2022 driven by strong growth in power delivery, renewables.

Primoris Services Corporation Reports Third Quarter 2023 Results

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”) announced today it will report third quarter 2023 financial results on Tuesday, November 7, 2023, after market close. The Company's press release will be available on the Primoris website at www.prim.com. In conjunction with the press release, management will host a conference call and webcast on Wednesday, November 8, 2023, at 9:00 a.m. U.S. Central Time (10:00 a.m. U.S. Eastern Time), to discuss.

Primoris Services Corporation Schedules Third Quarter 2023 Earnings Conference Call and Webcast

Primoris Services is primed for growth, leveraging the Inflation Reduction Act to capitalize on green energy trends, with a substantial, likely undervalued solar project backlog extending to 2025. The company's unique strategy focuses on smaller, under-50 MWh utility-scale solar projects, ensuring less competition and higher margins, while IRA incentives enhance the viability of these projects. Despite higher leverage, Primoris mitigates risks through interest rate hedges and accounts receivable financing, offering a deep value investment opportunity with its SaaS-like growth and compelling valuation metrics.

Primoris Services: IRA Tailwind Not Priced In

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”) announced today it received solar project awards with a combined value of approximately $230 million. The contracts were secured by the Company's Energy Segment in the third quarter of 2023. “Our clients continue to demonstrate confidence in our expertise to exceed essential requirements in the construction of solar projects by partnering with us on new projects,” said Tom McCormick, President and.

Primoris Services Corporation Receives Solar Project Awards Estimated Value $230 Million

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Primoris Services is up nearly 50% year to date thanks to strong earnings growth. Now, shares of the industrial stock could be flashing a fresh buy signal.

This Industrial Stock Could Be Actionable Soon, After Bullish Run

Primoris Services Corporation has shown strength in its top line, with a significant increase in backlog and revenue growth of 38% YoY. PRIM operates in three segments, specializing in fabrication, construction, replacement, and engineering solutions for various industries. While there are risks associated with a high concentration of clients, the upside potential outweighs it, especially with the expected construction and manufacturing boom in the US.

Primoris Services: Strong Momentum Is Driving Investor Value Here

Primoris' revenue and operating income (LTM) are both at record highs since 2014. Its backlog recently hit a new record as well. Its P/S, P/E, and P/B (quarterly) valuation multiples are all near record lows since 2014. The firm's P/S ratio is below 1, standing at 0.31. The energy segment achieved a strong book-to-bill ratio of 2.3 and saw its booking exceed $1.8b.

Primoris Services Corporation: Growth, Value, And Momentum

Does Primoris Services (PRIM) have what it takes to be a top stock pick for momentum investors? Let's find out.

What Makes Primoris Services (PRIM) a Strong Momentum Stock: Buy Now?

Primoris Services (PRIM) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.

Fast-paced Momentum Stock Primoris Services (PRIM) Is Still Trading at a Bargain

Primoris Services (PRIM) came out with quarterly earnings of $0.80 per share, beating the Zacks Consensus Estimate of $0.50 per share. This compares to earnings of $0.48 per share a year ago.

Primoris Services (PRIM) Beats Q2 Earnings and Revenue Estimates

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”) today announced financial results for its second quarter ended June 30, 2023 and provided comments on the Company's operational performance and outlook for 2023. For the second quarter of 2023, Primoris reported the following highlights (1): Revenue of $1,413.4 million, up $390.4 million, or 38.2 percent, compared to the second quarter of 2022 driven by strong growth in both the Utilities and Energ.

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