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 (PRIM) delivers essential infrastructure solutions across North America's energy and utilities sectors. This dedicated news hub provides investors and industry professionals with authoritative updates on the company's strategic developments, project milestones, and operational achievements.
Access real-time press releases and analysis covering PRIM's engineering projects, utility infrastructure contracts, and energy sector partnerships. Our curated collection includes updates on pipeline construction initiatives, utility system upgrades, and regulatory compliance developments that shape the company's market position.
Key updates feature earnings announcements, major contract awards, and technological advancements in infrastructure services. Track PRIM's progress in critical areas including renewable energy projects, gas distribution systems, and water/wastewater infrastructure developments.
Bookmark this page for direct access to Primoris Services Corporation's official communications and expert analysis. Stay informed about one of North America's leading infrastructure specialists through comprehensive coverage of operational updates and strategic business decisions.
Primoris Services Corporation (NASDAQ: PRIM) has secured a solar contract valued over $155 million, awarded to its Power, Industrial, & Engineering segment. The project involves engineering, procurement, and construction of a utility-scale solar facility in the Southwest. Initial work commenced in Q1 2020, with completion expected by Q4 2021. This contract enhances Primoris’ position in the renewable energy sector, showcasing its capabilities in large-scale construction projects.
Primoris Services Corporation (NASDAQ: PRIM) has secured three new utility contracts valued at over $45 million. These contracts, awarded to ARB Underground within the Utilities & Distribution segment, involve gas pipe replacement in Southern California and power line replacement in Northern California. The projects are set to commence in Q2 2020 and are expected to be completed by Q2 2021.
Primoris Services Corporation (NASDAQ: PRIM) announced a Limited Notice to Proceed (LNTP) for a solar project valued at $10 million, with an expected final contract worth over $100 million. This contract, secured by Primoris Renewable Energy, involves initial engineering work on a utility-scale solar facility in the Southwest. The project’s construction is anticipated to complete by Q3 2021, marking a significant opportunity for Primoris in the renewable energy sector.
Primoris Services Corporation (NASDAQ: PRIM) is participating in three upcoming investor conferences. The management will present at the KeyBanc Capital Markets Industrials & Basic Materials Virtual Conference on May 28, followed by the UBS Global Industrials & Transportation Virtual Conference on June 2, and the Stifel Cross Sector Insight Virtual Conference on June 9. Presentations will be available for download on the Investor Relations section of their website, www.prim.com.
Primoris Services Corporation (NASDAQ: PRIM) announced two significant industrial awards totaling over $62 million. The first contract involves the construction of the OSBL portion of a renewable diesel expansion project in Louisiana, set to start in Q2 2020 and finish by Q3 2021. The second contract is for the civil work of an air separation unit expansion in Texas, aiming to reduce NOx and CO2 emissions, with completion expected by Q3 2020.
Primoris Services Corporation (NASDAQ: PRIM) has secured a significant contract valued at over $200 million for the engineering, procurement, and construction of a renewable fuels facility in Bakersfield, California. The facility will produce renewable diesel from organic feedstocks, contributing to lower greenhouse gas emissions. This project, awarded to ARB Industrial, involves extensive upgrades and is set for completion in the third quarter of 2022.
Primoris Services reported Q1 2020 revenue of $743.2 million, up 12.3% from Q1 2019. However, the company faced a net loss of ($3.7 million) or ($0.08) per diluted share, compared to a net income of $1.9 million in the previous year. Despite the pandemic's impact, backlog reached a record $3.2 billion. The company has suspended its 2020 earnings guidance due to uncertainty over COVID-19 and oil-related impacts. Nevertheless, Primoris plans to maintain its quarterly dividend of $0.06 per share.
