Primoris Services Corporation Reports Third Quarter 2022 Results
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 (NASDAQ GS: PRIM) (“Primoris” or the “Company”) today announced financial results for its third quarter ended September 30, 2022 and confirmed the Company’s outlook.For the third quarter 2022, Primoris reported the following highlights(1):Revenue of $1,284.1 million, up $370.9 million, or 40.6 percent, year-over-year driven by strong growth in the Utilities and Energy/Renewables segments, including $155.7 million from the PLH acquisitionDelivered net income of $43.0 million, or $0.80 per diluted share, and adjusted net income of $60.4 million, or $1.12 per diluted shareGenerated adjusted earnings before interest, income taxes, depreciation and amortization (“Adjusted EBITDA”) of $109.0 millionIncreased backlog to a record $5.5 billion, up 99.8 percent from the third quarter of 2021, including Master Service Agreements (“MSA”) backlog of $2.1 billionAnnual 2022 guidance range for earnings per share (“EPS”) updated to $2.31 to $
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PRIM
News
- Primoris Services Corporation Schedules First Quarter 2024 Earnings Conference Call and Webcast [Yahoo! Finance]Yahoo! Finance
- Primoris Services Corporation Schedules First Quarter 2024 Earnings Conference Call and WebcastBusiness Wire
- Primoris Services Co. (NASDAQ: PRIM) had its price target raised by analysts at UBS Group AG from $44.00 to $63.00. They now have a "buy" rating on the stock.MarketBeat
- Primoris Services Co. (NASDAQ: PRIM) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $38.00 to $43.00. They now have a "neutral" rating on the stock.MarketBeat
- Primoris Services Co. (NASDAQ: PRIM) had its price target raised by analysts at DA Davidson from $45.00 to $55.00. They now have a "buy" rating on the stock.MarketBeat
PRIM
Earnings
- 2/26/24 - Beat
PRIM
Sec Filings
- 3/22/24 - Form ARS
- 3/22/24 - Form DEF
- 3/22/24 - Form 144
- PRIM's page on the SEC website