Welcome to our dedicated page for Primoris Svcs news (Ticker: PRIM), a resource for investors and traders seeking the latest updates and insights on Primoris Svcs stock.
Primoris Services Corporation (NYSE: PRIM) is a specialty contractor that provides critical infrastructure services to the utility, energy, and renewables markets throughout the United States and Canada. This news page aggregates company announcements, earnings releases, and other updates so readers can follow how Primoris’ Utilities and Energy segments are performing over time.
Public releases from Primoris frequently highlight quarterly financial results, including revenue trends, segment performance, and the use of non-GAAP measures such as Adjusted Net Income, Adjusted EPS, and Adjusted EBITDA. These updates also discuss factors affecting margins and growth, such as increased activity in power delivery, gas operations, communications, renewable energy, and industrial projects, as well as changes in pipeline activity and project closeouts.
News items also cover corporate developments, including the appointment of senior executives, outcomes of annual stockholder meetings, and decisions by the Board of Directors regarding cash dividends and share purchase authorizations. In addition, Primoris regularly announces its participation in institutional investor conferences focused on energy, clean technology, utilities, and diversified industrials, providing insight into how the company engages with the investment community.
Investors and other interested readers can use this page to review historical and recent press releases related to Primoris’ financial performance, backlog updates, capital allocation decisions, and leadership changes. By following these company-generated news items, users gain context on how Primoris positions its Utilities and Energy segments, its role in utility-scale solar and natural gas power generation projects, and its broader activities in power delivery, communications, and transportation infrastructure.
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Primoris Services Corporation (NYSE: PRIM) is set to report its first quarter 2023 financial results on May 9, 2023, after market close. A conference call will follow on May 10, 2023, at 9:00 a.m. CT, to discuss results and provide a business outlook. Interested parties can join via phone at 1-888-330-3428 or 1-646-960-0679 for international calls, using access code: 7581464. This call will provide insights into the company's financial performance and future direction for stakeholders.
The replay for the conference call will be available on the same day post 5:00 p.m. CT and will last for seven days.
Primoris Services Corporation (NYSE: PRIM) announced receiving two renewable project awards totaling over $200 million. These projects contribute to the Company’s existing backlog of over $3 billion in its Energy Segment. The significant projects include a carbon capture utilization and storage pipeline in the Midwest, expected to commence in Q2 2024, and a utility-scale solar facility in the Southwest, slated to start construction in Q3 2023 with expected completion in Q3 2024. The Company emphasizes its capability to adapt to the energy transition and its strong client relationships supporting ongoing utility-scale solar work.
Primoris Services Corporation (NASDAQ: PRIM) announced the transfer of its common stock listing from Nasdaq to the New York Stock Exchange (NYSE), effective April 4, 2023. The transition is expected to be seamless, with no action required from shareholders. CEO Tom McCormick expressed excitement about joining the NYSE and the advantages it offers. This move reflects Primoris's growth from a pipeline construction company to a major player in specialty contracting for utility and energy infrastructure sectors in North America. The company aims to leverage the NYSE to enhance its market presence.
Primoris Services Corporation (NASDAQ: PRIM) announced its participation in the UBS 17th Annual Infrastructure and E&C Conference on March 23 in Dallas, Texas. The Company will provide insights into its engineering, construction, and maintenance services, focusing on critical infrastructure within the utility, energy, and renewables sectors. Interested investors can access the latest earnings release and investor presentation from the 'Investors' section of their website at www.prim.com. Primoris is noted for delivering unmatched value through its innovative and safe service offerings across the United States and Canada.
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.
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