Primoris Services ( (PRIM) ) has released its Q4 earnings. Here is a breakdown of the information Primoris Services presented to its investors.
Primoris Services Corporation is a leading provider of critical infrastructure services in the utility, energy, and renewables sectors across the United States and Canada, known for its comprehensive engineering, construction, and maintenance offerings. The company reported a robust financial performance for the fourth quarter and full year of 2024, with significant growth in revenue and net income, driven by strong performance in its Energy and Utilities segments. Key highlights include a full-year revenue of nearly $6.4 billion, an 11.4% increase from 2023, and a net income of $180.9 million, representing a 43.4% rise. The company also achieved a record backlog of $11.9 billion, indicating strong future growth potential. As Primoris moves into 2025, it remains optimistic about its ability to capitalize on infrastructure investment opportunities in North America, despite potential challenges such as inflation and supply chain constraints. The company is confident in its strategic positioning to continue delivering value to its customers, employees, and shareholders.