Primoris Svcs Corp Stock Price, News & Analysis

Primoris Services Corporation (NASDAQ: PRIM) has secured a solar contract valued over $370 million from its Energy/Renewables Segment. This contract boosts their solar project backlog to exceed $1 billion. Construction is set to begin in Q2 2022, with completion anticipated by Q4 2023. The company’s diversified services in utility, energy/renewables, and pipeline markets position it for long-term growth.

Primoris Services Corporation (NASDAQ: PRIM) announced its participation in the CJS Securities 22nd Annual New Ideas for the New Year Virtual Investor Conference on January 12, 2022. President & CEO Tom McCormick and CFO Ken Dodgen will engage in investor meetings and a fireside chat at 1:20 p.m. Central Time. The presentation will be available on the company's Investor Relations website before NASDAQ trading opens that day. Primoris specializes in critical infrastructure services for the utility and energy sectors across the U.S. and Canada.

Primoris Services Corporation (NASDAQ: PRIM) has secured two Master Service Agreements (MSAs) worth over $225 million for gas distribution projects in California. These agreements, one spanning two years and the other five years, highlight the company's long-standing relationships with major utilities. The MSAs are set to expand Primoris's portfolio into 2026, supporting its growth in critical infrastructure services across the energy and utility sectors.

Primoris Services Corporation (NASDAQ: PRIM) has secured two heavy civil project awards totaling over $32 million from the Texas Department of Transportation. The first project entails highway construction in Bell County, set to start in Q1 2022 and finish in Q2 2024. The second project involves a bridge replacement in Harris County, expected to be completed by Q2 2023. These projects align with Primoris' strategic focus on critical infrastructure services and expansion into higher-margin markets.

Primoris Services Corporation (NASDAQ: PRIM) announced two significant solar project awards valued at $425 million through its Energy/Renewables Segment. These contracts aim to enhance the company's solar project backlog, targeting $1 billion as previously discussed in earnings. Construction will initiate in Q2 2022, with project completion projected for Q3 2023. Primoris specializes in infrastructure services across the utility and energy sectors throughout the U.S. and Canada, emphasizing growth in utility-scale solar and other renewable markets.

Primoris Services Corporation (NASDAQ: PRIM) has secured two heavy civil project awards valued at over $520 million from the Louisiana Department of Transportation and Development. The projects include a $60 million highway construction on LA 3241, set to commence in Q4 2021 and complete by Q2 2023, and a $460 million elevated highway project on LA 1, starting in Q1 2022 and finishing by Q4 2027. These contracts bolster Primoris' Energy/Renewables backlog through 2027.

Primoris Services Corporation (NASDAQ GS: PRIM) reported third-quarter 2021 financial results, with revenue of $913.2 million, down 3% year-over-year. Key highlights include 11% revenue growth in the Energy/Renewables segment and 10% growth in the Utility segment. Net income was $44.1 million, and adjusted EPS was $0.89. The backlog stands at $2.7 billion. The company also announced a $25 million share repurchase program and maintained a $0.06 quarterly dividend. Primoris updated its 2021 outlook, expecting net income per share between $2.10 and $2.20.

Primoris Services Corporation (NASDAQ: PRIM) has secured a significant solar project contract valued at $130 million, awarded to its Energy/Renewables Segment. Construction is slated to commence in Q1 2022, aiming for completion by Q4 2022. CEO Tom McCormick emphasized the importance of repeat client business, showcasing strong customer relationships. This project marks their fourth collaboration with the client, reflecting their successful execution in the renewable energy sector.