Primoris Svcs Corp Stock Price, News & Analysis

Primoris Services Corporation (NASDAQ GS: PRIM) reported robust results for 2022, achieving a revenue of $4.42 billion, an increase of 26.4% from 2021. Net income rose to $133 million or $2.47 per diluted share, marking a 14.9% increase. The adjusted EBITDA for the year was $283.4 million, down 4.8% year-over-year. The company anticipates a strong outlook for 2023, projecting net income per diluted share between $2.10 and $2.30 and adjusted EBITDA between $350 million and $370 million. A record backlog of $5.5 billion positions Primoris favorably for continued growth, amid challenges like inflation and supply chain constraints.

Primoris Services Corporation (NASDAQ: PRIM) will report its Q4 and full-year 2022 financial results on February 27, 2023, after market close. A conference call is scheduled for February 28, 2023, at 9:00 a.m. CT to discuss these results and the 2023 business outlook. Interested parties can join via phone or webcast, and a replay of the call will be available for seven days. Primoris provides essential infrastructure services primarily to the utility and energy sectors across the U.S. and Canada, focusing on long-term service agreements and expanding into higher-margin markets such as renewable energy.

Primoris Services Corporation (NASDAQ: PRIM) announced securing multiple solar project awards valued at approximately $290 million. These contracts, obtained by the Energy/Renewables Segment in Q4 2022, involve engineering, procurement, and construction of utility-scale solar facilities in the Midwest. Initial construction is set for Q1 2023, aiming for completion by Q2 2024. CEO Tom McCormick emphasized that these awards enhance Primoris's geographical footprint and service diversity, reflecting strong client trust in their capabilities.

Primoris Services Corporation (NASDAQ GS: PRIM) reported robust third-quarter 2022 results with revenue of $1,284.1 million, a 40.6% increase year-over-year. This growth was fueled by acquisitions and key segments like Utilities and Energy/Renewables.

Net income was $43.0 million or $0.80 per diluted share, while adjusted net income reached $60.4 million or $1.12 per diluted share. The backlog increased to a record $5.5 billion, representing a 99.8% rise from the previous year.

Primoris Services Corporation (NASDAQ: PRIM) announced its participation in two upcoming investor conferences. Management will be present at the Baird Global Industrials Conference on November 10 and the Sidoti December Virtual Small Cap Conference on December 7. For detailed information, the latest earnings release and investor presentations can be found on their website.

Primoris is a specialized contractor offering critical infrastructure services across the U.S. and Canada, focusing on renewable energy and utility projects.

Primoris Services Corporation (NASDAQ: PRIM) has secured seven projects in the Energy/Renewables segment, valued at approximately $400 million. This includes two power projects worth $100 million and a construction award for utility-scale solar projects in the Midwest, also valued at $100 million. Additionally, four heavy civil construction projects have been awarded, totaling over $200 million. Work is set to commence in the fourth quarter of 2022, enhancing Primoris's backlog as it moves into 2023.

Primoris Services Corporation (NASDAQ: PRIM) is set to release its third quarter 2022 financial results on November 7, 2022, after market close. The company's financial release will be available on their website. A conference call to discuss the results and business outlook will occur on November 8, 2022, at 9:00 a.m. CT. Interested participants can join via phone or through a webcast link on the Primoris website. Primoris is a leading specialty contractor providing critical infrastructure services across the U.S. and Canada, focusing on multi-year agreements and growth in renewable energy sectors.

Primoris Services Corporation (NASDAQ: PRIM) announced participation in two institutional investor conferences in September 2022:

• September 13: 2022 RBC Global Industrials Conference
• September 22: DA Davidson 21st Annual Diversified Industrials & Services Conference

Presentation materials will be available on the Company’s Investor Relations website before NASDAQ trading opens on conference days. Primoris specializes in critical infrastructure services across the utility, energy/renewables, and pipeline markets in the U.S. and Canada, focusing on long-term growth opportunities.

Primoris Services Corporation (NASDAQ: PRIM) announced a new pipeline award valued at over $120 million. This contract, awarded to the Pipeline Services Segment, involves the construction of approximately 60 miles of pipeline in Texas. The project is slated to begin in the third quarter of 2022 and is expected to be completed by the second quarter of 2023. Primoris, a leading specialty contractor, provides infrastructure services across the utility and energy sectors, focusing on high-growth areas such as renewable energy and power delivery systems.