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Primoris Services Corporation - PRIM STOCK NEWS

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.

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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.

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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.

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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.

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Primoris Services Corporation (NASDAQ: PRIM) announced that CEO Tom McCormick and CFO Ken Dodgen will participate in investor meetings and a fireside chat at the D|A| Davidson 20th Annual Diversified Industrials & Services Virtual Conference on September 22, 2021. The chat is set for 10:45 a.m. Central Time. A live webcast link and presentation will be available on the company's Investor Relations website. Primoris is a leading provider of specialty contracting services with a focus on utility, energy/renewables, and pipeline markets in the U.S. and Canada.

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Primoris Services Corporation (NASDAQ: PRIM) announced that CEO Tom McCormick and CFO Ken Dodgen will participate in investor meetings and a fireside chat at the Morgan Stanley 9th Annual Laguna Virtual Investor Conference on September 15, 2021. The fireside chat is scheduled for 10:15 a.m. CT (11:15 a.m. ET). A copy of the presentation will be available on the Company’s Investor Relations website before NASDAQ trading opens. Primoris specializes in contracting and infrastructure services across the USA and Canada, focusing on high-growth sectors like utility-scale solar and telecom.

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Primoris Services Corporation (NASDAQ: PRIM) has announced two new solar project contracts worth over $120 million, awarded to its Energy/Renewables Segment. These contracts stem from prior projects mentioned during the Q2 earnings call and are expected to enhance the company's backlog.

The first project is a utility-scale solar facility in the Southwest, starting construction in Q3 2021, aiming for completion in Q3 2022. The second project is a similar facility in the Midwest, with construction also beginning in Q3 2021 and completion anticipated in Q2 2022.

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Primoris Services Corporation (NASDAQ: PRIM) has secured a $100 million thermal power project through its Energy/Renewables Segment. This project involves the engineering, procurement, and construction of 200 MW thermal power plants at two Southwest locations. Initial engineering and procurement will commence in Q3 2021, with project completion anticipated by Q2 2022. Primoris continues to diversify its portfolio, focusing on high-margin markets, enhancing long-term growth prospects.

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Primoris Services Corporation (NASDAQ GS: PRIM) reported second quarter 2021 financial results, highlighting revenue of $881.6 million, a 3 percent decline from the previous year. The Utility Segment grew 25 percent, while the Energy/Renewables Segment increased 20 percent. Net income attributable to Primoris stood at $36.3 million, with earnings per share at $0.67. Backlog reached $2.9 billion. The company anticipates net income for the year to be between $2.30 and $2.50 per diluted share, considering dilution from a recent secondary offering.

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FAQ

What is the current stock price of Primoris Services Corporation (PRIM)?

The current stock price of Primoris Services Corporation (PRIM) is $80.65 as of December 20, 2024.

What is the market cap of Primoris Services Corporation (PRIM)?

The market cap of Primoris Services Corporation (PRIM) is approximately 4.3B.

What services does Primoris Services Corporation provide?

Primoris offers construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to various industries.

Which markets does Primoris primarily serve?

Primoris serves major public utilities, petrochemical companies, energy firms, municipalities, and other diverse end markets.

What are the main segments of Primoris Services Corporation?

The company operates through two main segments: Utilities and Energy.

What services are included in the Utilities segment?

The Utilities segment includes installation and maintenance of natural gas and electric utility distribution and transmission systems, and communication systems.

What services does the Energy segment cover?

The Energy segment offers engineering, procurement, and construction, retrofits, highway and bridge construction, demolition, site work, outages, pipeline construction and maintenance, and more.

How has Primoris Services Corporation grown over the years?

Since December 2009, Primoris has more than doubled in size, expanding its footprint across the continental United States and Canada.

What recent achievements has Primoris accomplished?

Primoris has secured high-value contracts and expanded into renewable energy infrastructure and advanced engineering solutions.

How is Primoris performing financially?

Primoris has shown strong financial performance with steady revenue growth, a solid balance sheet, and cost-efficient operations.

What is Primoris' strategic focus?

Primoris focuses on expanding its service offerings, increasing geographical reach, and maintaining operational excellence and customer satisfaction.

Where does Primoris operate?

Primoris operates throughout the continental United States and Canada.

Primoris Services Corporation

Nasdaq:PRIM

PRIM Rankings

PRIM Stock Data

4.33B
53.01M
1.34%
96.44%
3.45%
Engineering & Construction
Water, Sewer, Pipeline, Comm & Power Line Construction
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United States of America
DALLAS