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Hot Stocks
Primoris awarded $120M contract for 60 miles of pipeline in Texas » 18:49
09/06/22
09/06
18:49
09/06/22
18:49
PRIM

Primoris

$19.19 /

-0.525 (-2.66%)

Primoris Services…

Primoris Services announced a pipeline award valued over $120M. The contract was secured by the Pipeline Services Segment. The award is for the construction of nearly 60 miles of pipeline in Texas. Work is scheduled to commence in the Q3 of 2022 and completion is expected in the Q2 of 2023.

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PRIM Primoris
$19.19 /

-0.525 (-2.66%)

PRIM Primoris
$19.19 /

-0.525 (-2.66%)

11/10/21 Goldman Sachs
Goldman downgrades Primoris to Sell on 'bottom quintile' growth
11/10/21 Goldman Sachs
Primoris downgraded to Sell from Neutral at Goldman Sachs
PRIM Primoris
$19.19 /

-0.525 (-2.66%)

Over a month ago
Hot Stocks
Primoris announces $270M solar project award » 08:37
08/23/22
08/23
08:37
08/23/22
08:37
PRIM

Primoris

$21.44 /

-0.28 (-1.29%)

Primoris announced a…

Primoris announced a solar project award with an estimated value of $270M. The contract was secured by the company's Energy/Renewables segment. The award is for the engineering, procurement, and construction of a utility-scale solar facility in the Southwest, adding approximately 500 megawatts to over 3,900 megawatts of solar power projects which Primoris currently has under construction. Initial project construction will begin in the fourth quarter of 2022 with completion of the project expected in the fourth quarter of 2023.

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PRIM Primoris
$21.44 /

-0.28 (-1.29%)

PRIM Primoris
$21.44 /

-0.28 (-1.29%)

11/10/21 Goldman Sachs
Goldman downgrades Primoris to Sell on 'bottom quintile' growth
11/10/21 Goldman Sachs
Primoris downgraded to Sell from Neutral at Goldman Sachs
PRIM Primoris
$21.44 /

-0.28 (-1.29%)

Earnings
Primoris reports Q2 adjusted EPS 48c, two estimates 59c » 17:29
08/08/22
08/08
17:29
08/08/22
17:29
PRIM

Primoris

$22.52 /

+0.095 (+0.42%)

Reports Q2 revenue…

Reports Q2 revenue $1.02B, consensus $929.5M. CEO Tom McCormick says: "We delivered record revenues and significantly increased total backlog in the second quarter, supported by continued strength in our utility and energy/renewables segments. Over 94% of our second quarter revenue was driven by these two segments, underscoring the work we have done to expand our presence in growing markets with strong secular tailwinds, which has helped offset declining volumes in our pipeline segment. During the quarter, we also announced our acquisition of PLH Group, substantially growing our exposure to attractive, higher-margin utility markets while accelerating our shift towards recurring MSA revenue. PLH's foothold in the renewable power-to-grid market also creates solid cross-selling opportunities with the solar projects we have recently been awarded and those that we are pursuing, totaling close to half a billion dollars in value year-to-date. While we have faced operational challenges associated with fuel and labor inflation, our teams have done a great job of re-negotiating rates and leveraging commercial discipline to mitigate the impact of these factors going forward. Our robust performance this quarter gives us confidence in the long-term strength of our business strategy, and we look forward to continuing this momentum into the latter part of 2022."

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PRIM Primoris
$22.52 /

+0.095 (+0.42%)

PRIM Primoris
$22.52 /

+0.095 (+0.42%)

11/10/21 Goldman Sachs
Goldman downgrades Primoris to Sell on 'bottom quintile' growth
11/10/21 Goldman Sachs
Primoris downgraded to Sell from Neutral at Goldman Sachs
PRIM Primoris
$22.52 /

+0.095 (+0.42%)

Hot Stocks
Primoris awarded contract at over $170M » 17:01
07/05/22
07/05
17:01
07/05/22
17:01
PRIM

Primoris

$21.65 /

-0.255 (-1.16%)

Primoris Services…

Primoris Services "announced a heavy civil project valued at more than $170 million. The project, secured by the Company's Energy/Renewables Segment, was awarded by the Texas Department of Transportation. The project involves construction of a section of Highway 59 in Polk County, Texas. It is scheduled to commence in the third quarter of 2022 with completion expected in the fourth quarter of 2024."

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PRIM Primoris
$21.65 /

-0.255 (-1.16%)

PRIM Primoris
$21.65 /

-0.255 (-1.16%)

11/10/21 Goldman Sachs
Goldman downgrades Primoris to Sell on 'bottom quintile' growth
11/10/21 Goldman Sachs
Primoris downgraded to Sell from Neutral at Goldman Sachs
07/16/21
Fly Intel: Top five analyst initiations
07/16/21 UBS
Primoris initiated with a Buy at UBS
PRIM Primoris
$21.65 /

-0.255 (-1.16%)

Over a quarter ago
Hot Stocks
Primoris enter agreement to acquire PLH in all-cash transaction valued at $470M » 07:04
06/27/22
06/27
07:04
06/27/22
07:04
PRIM

Primoris

$23.58 /

+1.52 (+6.89%)

Primoris Services…

Primoris Services announced that it has entered into a definitive merger agreement to acquire PLH Group in an all-cash transaction valued at $470M. Primoris, one of the top specialty contractors in the U.S., provides critical infrastructure services to the utility, renewables and other related energy markets. Strategic Advantages and Benefits: Nearly doubles Power Delivery business and increases the Company's Utilities segment to over 50 percent of pro forma revenue; Solidifies Power Delivery presence in the five fastest-growing states to create more turnkey opportunities; Accelerates the Company's ongoing portfolio transition towards higher-growth, higher-margin markets and recurring Master Service Agreement revenue "This acquisition aligns solidly with our strategic focus on higher-growth, higher-margin business segments," said Tom McCormick, President and Chief Executive Officer of Primoris. "It expands our footprint for Power Delivery services at a time when improvement and expansion of our domestic electric grid is driving massive capital investment in this market."

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PRIM Primoris
$23.58 /

+1.52 (+6.89%)

PRIM Primoris
$23.58 /

+1.52 (+6.89%)

11/10/21 Goldman Sachs
Goldman downgrades Primoris to Sell on 'bottom quintile' growth
11/10/21 Goldman Sachs
Primoris downgraded to Sell from Neutral at Goldman Sachs
07/16/21
Fly Intel: Top five analyst initiations
07/16/21 UBS
Primoris initiated with a Buy at UBS
PRIM Primoris
$23.58 /

+1.52 (+6.89%)

Hot Stocks
Primoris awarded $260M solar project » 17:50
06/23/22
06/23
17:50
06/23/22
17:50
PRIM

Primoris

$22.07 /

-0.44 (-1.95%)

Primoris announced a…

Primoris announced a solar project with an estimated value of $260M. The contract was secured by the company's Energy/Renewables Segment. The award is for the engineering, procurement and construction of a utility-scale solar facility in the South. Initial project construction will begin in 3Q22 with completion of the project expected in 4Q23.

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PRIM Primoris
$22.07 /

-0.44 (-1.95%)

PRIM Primoris
$22.07 /

-0.44 (-1.95%)

11/10/21 Goldman Sachs
Goldman downgrades Primoris to Sell on 'bottom quintile' growth
11/10/21 Goldman Sachs
Primoris downgraded to Sell from Neutral at Goldman Sachs
07/16/21
Fly Intel: Top five analyst initiations
07/16/21 UBS
Primoris initiated with a Buy at UBS
PRIM Primoris
$22.07 /

-0.44 (-1.95%)

Earnings
Primoris raises FY22 adjusted EPS view to $2.49-$2.69 from $2.39-$2.59 » 17:05
05/09/22
05/09
17:05
05/09/22
17:05
PRIM

Primoris

$23.31 /

-0.12 (-0.51%)

Consensus $2.24. The…

Consensus $2.24. The company is targeting SG&A expense as a percentage of revenue in the low-to-mid six percent range for the 2022 calendar year. The Company's targeted gross margins by segment are as follows: Utilities in the range of 10 to 13 percent; Energy/Renewables in the range of 9 to 12 percent; and Pipeline in the range of 9 to 11 percent. The Company expects its effective tax rate for 2022 to be approximately 27 percent but may vary depending on the mix of states in which the Company operates.

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PRIM Primoris
$23.31 /

-0.12 (-0.51%)

PRIM Primoris
$23.31 /

-0.12 (-0.51%)

11/10/21 Goldman Sachs
Goldman downgrades Primoris to Sell on 'bottom quintile' growth
11/10/21 Goldman Sachs
Primoris downgraded to Sell from Neutral at Goldman Sachs
07/16/21
Fly Intel: Top five analyst initiations
07/16/21 UBS
Primoris initiated with a Buy at UBS
PRIM Primoris
$23.31 /

-0.12 (-0.51%)

Earnings
Primoris reports Q1 adjusted EPS 1c, consensus 9c » 17:04
05/09/22
05/09
17:04
05/09/22
17:04
PRIM

Primoris

$23.31 /

-0.12 (-0.51%)

Reports Q1 revenue…

Reports Q1 revenue $784.4M, consensus $801.08M. "Compared to last year's record first quarter, this period was much more in-line with our historic first quarter results," said Tom McCormick, President and Chief Executive Officer of Primoris. "Positive performance in our growth markets - utilities and energy/renewables - was largely offset by a loss we recognized from a pipeline project in the mid-Atlantic and lower overall revenue from that segment."

ShowHide Related Items >><<
PRIM Primoris
$23.31 /

-0.12 (-0.51%)

PRIM Primoris
$23.31 /

-0.12 (-0.51%)

11/10/21 Goldman Sachs
Goldman downgrades Primoris to Sell on 'bottom quintile' growth
11/10/21 Goldman Sachs
Primoris downgraded to Sell from Neutral at Goldman Sachs
07/16/21
Fly Intel: Top five analyst initiations
07/16/21 UBS
Primoris initiated with a Buy at UBS
PRIM Primoris
$23.31 /

-0.12 (-0.51%)

Hot Stocks
Primoris awarded $130M solar project » 09:05
05/06/22
05/06
09:05
05/06/22
09:05
PRIM

Primoris

$23.70 /

-0.53 (-2.19%)

Primoris announced a…

Primoris announced a solar project with an estimated value of $130M. The contract was secured by the company's Energy/Renewables segment. The award is for the engineering, procurement and construction of a utility-scale solar facility in the South. Initial project construction will begin in the fourth quarter of 2022 with completion of the project expected in the third quarter of 2023.

ShowHide Related Items >><<
PRIM Primoris
$23.70 /

-0.53 (-2.19%)

PRIM Primoris
$23.70 /

-0.53 (-2.19%)

11/10/21 Goldman Sachs
Goldman downgrades Primoris to Sell on 'bottom quintile' growth
11/10/21 Goldman Sachs
Primoris downgraded to Sell from Neutral at Goldman Sachs
07/16/21
Fly Intel: Top five analyst initiations
07/16/21 UBS
Primoris initiated with a Buy at UBS
PRIM Primoris
$23.70 /

-0.53 (-2.19%)

Hot Stocks
Primoris awarded $120M solar project » 17:04
05/05/22
05/05
17:04
05/05/22
17:04
PRIM

Primoris

$23.70 /

-0.53 (-2.19%)

Primoris Services…

Primoris Services announced a solar project with an estimated value of $120 million. The contract was secured by the Company's Energy/Renewables Segment. "Our Energy/Renewables team continues to execute at an exceptional level that brings clients back to us," said Tom McCormick, President and Chief Executive Officer of Primoris. "We value these strong and ongoing relationships." The award is for the engineering, procurement and construction of a utility-scale solar facility in the Southwest. Initial project construction will begin in the second quarter of 2022 with completion of the project expected in the first quarter of 2023.

ShowHide Related Items >><<
PRIM Primoris
$23.70 /

-0.53 (-2.19%)

PRIM Primoris
$23.70 /

-0.53 (-2.19%)

11/10/21 Goldman Sachs
Goldman downgrades Primoris to Sell on 'bottom quintile' growth
11/10/21 Goldman Sachs
Primoris downgraded to Sell from Neutral at Goldman Sachs
07/16/21
Fly Intel: Top five analyst initiations
07/16/21 UBS
Primoris initiated with a Buy at UBS
PRIM Primoris
$23.70 /

-0.53 (-2.19%)

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