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 Global Select: PRIM) announced that its President and CEO, Tom McCormick, along with CFO Ken Dodgen, will participate in the CJS Securities 21st Annual New Ideas Summer Virtual Conference on July 13, 2021. A presentation will be available on the Company’s Investor Relations website before NASDAQ trading opens that day. Primoris, founded in 1960, is a leader in specialty contracting services across the U.S. and Canada, serving a diverse range of blue-chip clients.
Primoris Services Corporation (NASDAQ: PRIM) has announced that John Moreno, COO, and Ken Dodgen, CFO, will take part in investor meetings and a fireside chat at the Sidoti & Company LLC Virtual Investor Conference on June 24, 2021. This chat is set for 9:00 a.m. CT (10:00 a.m. ET). A live webcast will be accessible via the Primoris website, with a replay available three hours post-event for 30 days. Founded in 1960, Primoris is a leading provider of specialty contracting services across the U.S. and Canada.
Primoris Services Corporation (NASDAQ: PRIM) announced its participation in two upcoming virtual conferences: the UBS Global Industrials & Transportation Virtual Conference on June 9, 2021, and the Stifel Virtual Cross Sector Insight Conference on June 10, 2021. The Company’s presentation will be available on its Investor Relations website, www.primoriscorp.com, before NASDAQ trading opens on the days of the presentations. Founded in 1960, Primoris is a leading provider of specialty contracting services across the U.S. and Canada.
Primoris Services Corporation (NASDAQ: PRIM) has announced participation in the KeyBanc Capital Markets Industrials & Basic Materials Virtual Conference on June 2, 2021. Tom McCormick, President and CEO, along with Ken Dodgen, CFO, will represent the company. The presentation will be accessible on the company's Investor Relations website before NASDAQ trading opens that day. Founded in 1960, Primoris is a top provider of specialty contracting services across the U.S. and Canada, offering construction, fabrication, maintenance, and engineering services to a diverse client base.
Primoris Services Corporation (NASDAQ Global Select: PRIM) announced the award, renewal, or extension of 15 multi-year contracts worth over $525 million, primarily through its Utilities Segment. Among these, a significant $60 million five-year MSA agreement focuses on installing fiber-optic cables in the Gulf Coast region to enhance telecommunications in underserved communities. Additionally, contracts cover natural gas distribution and electrical system construction, with ongoing projects expected to be completed in 2022, 2023, and 2025.
Primoris Services Corporation (NASDAQ: PRIM) announced its first-quarter financial results for 2021, reporting revenue of $818.3 million, a 10% increase year-over-year. Net income rose to $5.9 million from a loss of $3.7 million in the prior year, resulting in fully diluted earnings per share of $0.12. Key achievements included the acquisition of Future Infrastructure, which contributed significantly to revenue growth, particularly in the Utilities segment with a 34% increase. The company also reported a backlog of $3.1 billion as of March 31, 2021.
Primoris Services Corporation (NASDAQ GS: PRIM) has announced the outcomes of its Annual Meeting of Stockholders on May 4, 2021. The stockholders elected nine directors, including notable figures such as David L. King and Tom McCormick. The meeting also ratified Moss Adams LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2021. Chairman David L. King expressed gratitude to retiring board members and welcomed new board member Jose Rodriguez, emphasizing the company’s commitment to shareholder trust and governance.
Primoris Services Corporation (NASDAQ: PRIM) will release its financial results for Q1 2021 on May 5, 2021, after market close. A conference call will follow on May 6 at 9:00 a.m. CT, featuring Tom McCormick, CEO, and Ken Dodgen, CFO, discussing results and financial outlook. The call will be accessible via phone and webcast. A replay will be available the same day at 5:00 p.m. CT. Primoris, established in 1960, specializes in contracting services across the U.S. and Canada, serving a diverse customer base.
On March 24, 2021, Primoris Services Corporation (NASDAQ: PRIM) announced a significant contract valued at over $35 million, awarded by the Texas Department of Transportation for a heavy civil project in Midland, Texas. The project involves reconstructing Interstate 20's frontage roads and main lanes, including paving, drainage, and safety features. Work is set to commence in Q2 2021 and is expected to conclude by Q4 2023. This contract reflects Primoris's capabilities in specialty contracting and its ongoing engagement in infrastructure development.
Primoris Services Corporation (NASDAQ: PRIM) has secured a new solar project worth over $220 million through its Energy Segment. This contract marks the third collaboration with the same customer for engineering, procurement, and construction services of utility-scale solar facilities in the Southwest.
The award includes approximately $19 million in work previously announced. Construction is set to begin in Q1 2021, with completion expected by Q2 2022.
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