Welcome to our dedicated page for Primoris Services Corporation news (Ticker: PRIM), a resource for investors and traders seeking the latest updates and insights on Primoris Services Corporation stock.
Primoris Services Corporation (NASDAQ: PRIM) is a leading provider of infrastructure services in the United States and Canada. With a diverse portfolio, Primoris specializes in construction, fabrication, maintenance, replacement, water and wastewater, and engineering services. Serving a broad range of clients, including major public utilities, petrochemical companies, energy firms, and municipalities, Primoris contributes significantly to essential sectors.
Since its establishment, Primoris has grown to become one of the largest construction service enterprises in North America. The company has more than doubled in size since December 2009, expanding its national footprint across the continental United States and Canada. The company operates through two main segments: Utilities and Energy.
- Utilities Segment: This segment offers a wide range of services including the installation and maintenance of new and existing natural gas and electric utility distribution and transmission systems, along with communication systems.
- Energy Segment: This segment provides comprehensive services like engineering, procurement, and construction (EPC), retrofits, highway and bridge construction, demolition, site work, outages, pipeline construction and maintenance, and more.
Primoris' recent achievements highlight their commitment to excellence and innovation. The company has successfully secured multiple high-value contracts, enhancing their project portfolio and strengthening their market position. The latest projects include major developments in renewable energy infrastructure and cutting-edge engineering solutions for complex industrial challenges.
In terms of financial health, Primoris has shown robust performance, reflecting steady revenue growth and a solid balance sheet. The company's strategic partnerships and extensive industry experience enable it to deliver high-quality services while maintaining cost-efficiency and reliability.
With a proven track record of success, Primoris continues to focus on expanding its service offerings and geographical reach. Their dedication to operational excellence, customer satisfaction, and sustainable growth positions them as a key player in the infrastructure services industry.
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.
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
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
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.
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