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 reports developments in critical infrastructure services for utility, energy, and renewables markets across the United States and Canada. The company provides engineering, construction, and maintenance services, with Utilities and Energy segment updates covering power delivery, natural gas and electric utility systems, communications infrastructure, utility-scale solar, renewables, natural gas generation, pipeline, and industrial work.
Recurring PRIM news centers on quarterly and annual results, backlog and Master Service Agreement backlog, segment revenue and margin trends, project cost performance, bidding activity, completed acquisitions, business outlooks, and investor conference participation.
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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.