Primoris Services jumps 14% as Q2 earnings smash estimates

Published 04/08/2025, 22:10
Primoris Services jumps 14% as Q2 earnings smash estimates

Investing.com -- Primoris Services Corporation (NYSE:PRIM) shares surged 14% after the infrastructure services provider reported second-quarter earnings that significantly exceeded analyst expectations and raised its full-year guidance well above consensus.

The company reported adjusted earnings of $1.68 per share for the second quarter, substantially beating the analyst estimate of $1.08. Revenue came in at $1.89 billion, surpassing the consensus estimate of $1.69 billion and representing a 20.9% increase YoY. The strong performance was primarily driven by growth in the company’s Energy and Utilities segments.

"Our second quarter results are indicative of the strength of our end markets and our ability to execute on our strategic initiatives to drive improved profitability and cash flow," said David King, Chairman and Interim President and Chief Executive Officer of Primoris.

Following the impressive results, Primoris raised its full-year 2025 adjusted EPS guidance to a range of $4.90 to $5.10, well above the analyst consensus of $4.47. The company also expects adjusted EBITDA for 2025 to range from $490 million to $510 million.

The Utilities segment saw an 11.6% revenue increase to $693 million compared to the same period last year, with operating income surging 89.3% to $65.6 million. Meanwhile, the Energy segment posted a 27% revenue increase to $1.24 billion, though its gross profit margin decreased to 10.8% from 12.6% in the same quarter last year.

Total (EPA:TTEF) backlog as of June 30, 2025, stood at $11.5 billion, including $6.0 billion in Utilities and $5.5 billion in Energy projects.

The company also declared a quarterly dividend of $0.08 per share, payable on October 15, 2025, to stockholders of record as of September 30, 2025.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.