Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Primoris Services Corp. (DE:1PM)
FRANKFURT:1PM
Holding DE:1PM?
Track your performance easily
Earnings Data
Report Date
Mar 03, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
€0.72Last Year’s EPS
€0.82Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: 32.48%
|Next Earnings Date:Mar 03, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a generally positive sentiment with record-breaking performance in several areas, such as revenue and cash flow. The company achieved significant growth in its Utilities segment and renewables business, which helped offset some margin pressures in the Energy segment. Challenges in industrial services and a decline in the Pipeline business were noted, but overall financial results and increased guidance suggest strong performance.Company Guidance
During the Primoris Services Corporation Q3 2024 earnings call, the company reported record achievements across several financial metrics, including revenue surpassing $1.6 billion, a 7.8% increase year-over-year, and record cash flow from operations exceeding $200 million for the first nine months. The backlog reached nearly $11.3 billion, fueled by approximately $2.5 billion in new bookings, with a notable contribution from the solar and industrial sectors. Gross profit rose by 14.2% to $198.6 million, driven by improved margins in the Utilities segment, which saw a 34.6% increase in gross profit. The Energy segment reported a revenue increase of 13.9%, primarily due to solar projects. Adjusted EBITDA guidance was raised to a range of $405 million to $420 million, reflecting strong operational performance and lower interest expenses. The company also updated its full-year adjusted EPS guidance to $3.40 to $3.55, emphasizing their strategic focus on profitable growth and efficient capital allocation.Record-Breaking Revenue and Growth
Primoris set new records in Q3 2024 for revenue, earnings, backlog, and cash flow from operations. Revenue increased by $119.6 million or 7.8% year-over-year, driven by growth in Energy and Utilities segments.
Strong Utilities Segment Performance
Utilities segment gross profit increased by $22.4 million or 34.6% from the prior year, with improved margins owing to a mix of work from communications and gas operations.
Robust Cash Flow
Q3 cash flow from operations was $222 million, representing the best quarter in the company's history, driven by higher operating income and decreased contract assets.
Growing Backlog and Renewables Business
Total backlog at the end of Q3 was just under $11.3 billion, with renewables surpassing $1 billion in revenue for the quarter and bookings adding $1.1 billion to backlog.
Earnings and EPS Growth
Earnings per fully diluted share rose by $0.18 or 20% compared to last year. Adjusted EPS increased by $0.20, and adjusted EBITDA reached $127.7 million for the quarter.
---
DE:1PM 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
---
DE:1PM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | €58.50 | €65.00 | +11.11% |
| Aug 05, 2024 | €45.75 | €46.95 | +2.62% |
| May 08, 2024 | €44.30 | €47.49 | +7.21% |
| Feb 26, 2024 | €36.66 | €37.06 | +1.09% |
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.
---
FAQ
When does Primoris Services Corp. (DE:1PM) report earnings?
Primoris Services Corp. (DE:1PM) is schdueled to report earning on Mar 03, 2025, TBA Not Confirmed.
What is Primoris Services Corp. (DE:1PM) earnings time?
Primoris Services Corp. (DE:1PM) earnings time is at Mar 03, 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 the P/E ratio of Primoris Services Corp. stock?
The P/E ratio of Primoris Services is 25.7.
What is DE:1PM EPS forecast?
DE:1PM EPS forecast for the fiscal quarter 2024 (Q4) is €0.72.
---