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Primoris Services Corp. (PRIM)
NYSE:PRIM
Earnings Data
Report Date
May 13, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.61Last Year’s EPS
0.47Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 24, 2025
|% Change Since: -10.53%
|Next Earnings Date:May 13, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted a record-breaking year for Primoris with significant achievements in revenue, backlog, and cash flow. While there were challenges in the energy segment and pipeline activity, the overall outlook for 2025 remains positive with strong growth expected in utilities, renewables, and other strategic areas.Company Guidance
During the Primoris Services Corporation fourth quarter and full year 2024 earnings call, the company provided strong guidance for 2025, reflecting its robust performance in 2024. The company achieved record revenue, earnings, backlog, and cash flow from operations, with total backlog reaching $11.9 billion, driven by $7.7 billion in new bookings. For 2025, Primoris expects earnings per fully diluted share to be between $3.70 and $3.90, and adjusted EPS between $4.20 and $4.40, representing double-digit growth at the midpoint. Adjusted EBITDA is projected to range from $440 million to $460 million. The Utilities segment showed improved margins with a target of 9% to 11% for 2025, while the Energy segment anticipates gross margins between 10% and 12%. Operating cash flow for 2025 is expected to normalize to $200 million to $225 million, following a record $508 million in 2024. The company also continued its strategic focus on renewables, with a strong backlog in solar and related services, and aims for further margin improvements through operational efficiencies and strategic resource allocation.Record-Breaking Year
Primoris had its best year in company history for revenue, earnings, backlog, and cash flow from operations. Total backlog reached $11.9 billion, with more than $7.7 billion of new work booked during the year.
Strong Cash Flow
Record cash flow from operations exceeded $500 million, driven by improvements in contract assets and upfront procurement and mobilization payments.
Utilities Segment Performance
Utilities segment revenue grew, with significant margin improvements, driven by favorable weather, increased customer activity, and $9 million from storm restoration work. Gross margins improved to 12.1% from 7.4% in the prior year.
Renewables Growth
Renewables business approached $2 billion in revenue in 2024 with nearly $900 million booked in the fourth quarter, closing the year with approximately $3.1 billion in backlog.
Earnings Guidance for 2025
Primoris expects earnings per fully diluted share to be between $3.70 and $3.90, with adjusted EPS between $4.20 and $4.40, both representing double-digit percent growth from 2024.
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PRIM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PRIM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 24, 2025 | $64.32 | $70.51 | +9.62% |
| Nov 04, 2024 | $64.27 | $73.77 | +14.78% |
| Aug 05, 2024 | $47.93 | $50.81 | +6.01% |
| May 08, 2024 | $47.64 | $50.03 | +5.02% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Primoris Services Corp. (PRIM) report earnings?
Primoris Services Corp. (PRIM) is schdueled to report earning on May 13, 2025, TBA Not Confirmed.
What is Primoris Services Corp. (PRIM) earnings time?
Primoris Services Corp. (PRIM) earnings time is at May 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PRIM EPS forecast?
PRIM EPS forecast for the fiscal quarter 2025 (Q1) is 0.61.
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