Primoris Svcs Corp - PRIM STOCK NEWS

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.

Primoris Services Corporation (NASDAQ: PRIM) announced participation in the Baird 2021 Global Industrial Virtual Conference on November 11, 2021. Tom McCormick, the CEO, and Ken Dodgen, the CFO, will engage in investor meetings and a fireside chat at 1:00 PM CT, exclusive to Baird clients. The presentation will be accessible on the Company’s Investor Relations website. Primoris is a leading specialty contractor providing critical infrastructure services across the U.S. and Canada, focusing on utilities, energy/renewables, and pipeline markets.

Primoris Services Corporation (NASDAQ: PRIM) announced the acquisition of seven heavy civil projects valued at over $115 million. These projects, secured by the Company’s Energy/Renewables Segment, will commence between the fourth quarter of 2021 and mid-2024. CEO Tom McCormick stated that these projects highlight Primoris's role in delivering essential infrastructure and renewable energy solutions for America's future. The Company continues to expand its presence in high-growth markets, enhancing its long-term growth potential.

Primoris Services Corporation (NASDAQ: PRIM) will release its third quarter 2021 financial results on November 8, 2021, after market close. A conference call is scheduled for November 9, 2021, at 9:00 a.m. Central Time, where management will discuss the results and update financial outlook. Interested parties can join via phone or webcast. The Company provides critical services to the utility and energy sectors across the US and Canada, focusing on infrastructure projects and higher-margin markets.