Primoris Services Corporation to Acquire PayneCrest Electric, Inc., Expanding Electrical Capabilities
Primoris Services Corporation (PRIM)
Last primoris services corporation earnings: 2/25 06:30 am
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Source: Business Wire
DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”) announced today that it has entered into a definitive purchase agreement to acquire PayneCrest Electric, Inc. (“PayneCrest”) in an all-cash transaction valued at $422 million.The acquisition increases the Company’s exposure to the high-growth data center services market and expands opportunities for integrating its industrial and renewables businesses with complementary electrical construction capabilities. PayneCrest is expected to be accretive to Primoris’ revenue growth, cash flow, and operating income margin targets. For the full year 2026, PayneCrest is estimated to generate total revenue between $350 and $370 million and total adjusted earnings before interest, tax, depreciation, and amortization (“adjusted EBITDA”), a non-GAAP measure, of $38 to $42 million. The Company estimates that, for the full year 2026, the acquisition will contribute between $260 to $280 million of reven
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PRIM
News
- Primoris Services (PRIM) had its price target raised by JPMorgan Chase & Co. from $165.00 to $171.00. They now have a "neutral" rating on the stock.MarketBeat
- Primoris Services (PRIM) had its price target raised by Guggenheim from $170.00 to $184.00. They now have a "buy" rating on the stock.MarketBeat
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- Arevon Starts Construction of $600-Million Cormorant Energy Storage Project [Yahoo! Finance]Yahoo! Finance
- Primoris Services Conference: Renewables Bookings Strong, But 2026 Revenue Seen Flat to Slightly Down [Yahoo! Finance]Yahoo! Finance
PRIM
Earnings
- 2/23/26 - Beat
PRIM
Sec Filings
- 4/2/26 - Form 4
- 4/1/26 - Form 4
- 3/27/26 - Form SCHEDULE
- PRIM's page on the SEC website