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) 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.
Primoris Services Corporation (NASDAQ: PRIM) announced a new pipeline award valued at over $120 million. This contract, awarded to the Pipeline Services Segment, involves the construction of approximately 60 miles of pipeline in Texas. The project is slated to begin in the third quarter of 2022 and is expected to be completed by the second quarter of 2023. Primoris, a leading specialty contractor, provides infrastructure services across the utility and energy sectors, focusing on high-growth areas such as renewable energy and power delivery systems.
Primoris Services Corporation (NASDAQ: PRIM) announced a major $270 million solar project award for the engineering, procurement, and construction of a utility-scale solar facility in the Southwest. This project aims to add approximately 500 megawatts to Primoris's portfolio, which already includes over 3,900 megawatts of solar projects under construction. Construction is set to begin in Q4 2022, with completion expected by Q4 2023.
Primoris Services Corporation (NASDAQ GS: PRIM) reported record revenue of $1,022.9 million for Q2 2022, driven primarily by its Utilities and Energy/Renewables segments, which contributed over 94% of total revenue. Net income rose to $50.2 million, leading to an EPS of $0.93. The company achieved a record backlog of $4.572 billion, reflecting a 59% year-over-year increase. However, gross profit declined to $92.1 million, reducing margins due to rising costs in the Pipeline segment.
The outlook for 2022 anticipates increased net income per share of $2.40 to $2.60.
Primoris Services Corporation (NASDAQ: PRIM) has completed its acquisition of PLH Group, Inc. for $470 million in cash. This strategic move enhances Primoris' operations in the utility markets, particularly in power delivery, communications, and gas utilities. The majority of PLH operations will be integrated into Primoris' Utilities Segment, with others joining the Energy/Renewables and Pipeline segments. CEO Tom McCormick emphasized this acquisition will position the company to leverage growth in both traditional and renewable energy sectors.
