Procore Technologies Inc Stock Price, News & Analysis

Procore Technologies, Inc. (NYSE: PCOR), a leader in construction management software, will announce its fourth quarter and full year 2022 financial results on February 16, 2023, after U.S. market close. A conference call will be held on the same day at 2:00 PM PT to discuss the results and future financial guidance. Procore has successfully managed over 1 million projects with a combined construction volume exceeding $1 trillion USD, emphasizing its significance within the industry. This call will offer insights into the company's performance and strategic direction.

BZI Steel has partnered with Procore Technologies, Inc. (NYSE: PCOR) to enhance construction efficiencies and prioritize jobsite safety. BZI Steel, known for its steel fabrication and erection, aims to integrate Procore's construction management software into its processes. This collaboration focuses on minimizing risks, improving project management, and fostering technological innovation in the construction sector. A recent McKinsey study indicates that construction technology adoption is lagging, yet 60% of surveyed professionals expect significant advancements in the next five years, highlighting the potential for growth in this partnership.

Procore Technologies (NYSE: PCOR) has released its inaugural 2022 Environmental, Social, and Governance (ESG) Report, showcasing its strong commitment to sustainable construction practices. The report outlines four key ESG pillars: Environmental Stewardship, Our People, Social Impact, and Responsible Business Practices. Highlights include efforts to reduce construction waste, provide educational access to construction management programs, and enhance board diversity with 44% female representation. Procore emphasizes its dedication to long-term sustainability and social responsibility.

Procore Technologies, Inc. (NYSE: PCOR) has appointed Olga Kibler as the new Chief People Officer, effective immediately. Kibler, who has over 20 years of experience in HR, previously served at Five9 and DocuSign, leading human resources during periods of significant growth. She will oversee Procore's Global Talent Organization as the company expands its workforce globally. Founder and CEO Tooey Courtemanche emphasized Kibler's importance in fostering a high-performing team culture and enhancing employee experience.

Procore Technologies, Inc. (NYSE: PCOR) announced the winners of the 2022 Groundbreaker Awards at their annual event in New Orleans. The awards honor excellence in the construction industry, recognizing 27 finalists and nine winners across various categories such as sustainability, workforce development, and innovation. Notable winners include Hathaway Dinwiddie for Sustainability and Atul Paralkar from Holt Construction Corp. as Groundbreaker of the Year. Procore's platform has facilitated over 1 million projects and $1 trillion in construction volume, reinforcing its role as a leader in construction management software.

Procore Technologies (NYSE: PCOR) has announced its launch in Germany, enhancing its international footprint in construction management software. This expansion aligns with Procore's mission to connect construction professionals globally, following previous expansions into France and the MENA region.

With over 13,000 customers and more than $1 trillion USD in construction volume on its platform, Procore aims to optimize project management efficiency in Germany. The company will participate in the BIM World trade fair to showcase its solutions.

Procore Technologies, Inc. (NYSE: PCOR) announced new innovations leveraging predictive analytics to enhance construction management efficiency. Key highlights include the upcoming launch of Procore Pay in 2023, aimed at addressing payment delays in the construction industry, which averages 83 days for invoice processing. Collaborating with Goldman Sachs, this new service will streamline payment processes. Additionally, Procore is enhancing its single platform capabilities, integrating predictive analytics for smarter project planning, amid ongoing labor shortages.

Procore Technologies, Inc. (NYSE: PCOR) has reported impressive Q3 2022 results, with revenue reaching $186 million, reflecting a 41% year-over-year increase. Gross margins are strong, with GAAP at 80% and non-GAAP at 84%. The company added 683 net new organic customers and launched a new solution, Procore Workforce Management. Looking ahead, Q4 revenue guidance is set at $189 million to $191 million, indicating 29% to 31% growth. Full year revenue is anticipated between $707 million and $709 million, signifying 37% to 38% growth.