Sector: Industrials | Industry: Construction & Engineering |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 2300 N. Field Street, Suite 1900 DALLAS TX 75201 |
Tel: | N/A |
Website: | https://www.prim.com |
IR: | See website |
Key People | ||
Thomas Edward Mccormick President, Chief Executive Officer, Director | Kenneth M. Dodgen Chief Financial Officer, Executive Vice President | John M. Perisich Executive Vice President, Chief Legal and Administrative Officer, Secretary |
Business Overview |
Primoris Services Corporation is engaged in providing of infrastructure services. The Company provides a range of construction, maintenance, replacement, fabrication, and engineering services to a diversified base of customers through its two segments: Utilities, and Energy. The Utilities segment offers services, including the installation and maintenance of new and existing natural gas and electric utility distribution and transmission systems, and communications systems. The Energy segment operates throughout the United States and Canada and specializes in a range of services that include engineering, procurement, construction, retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, pipeline construction and maintenance, pipeline integrity services, and maintenance services for entities in the renewable energy and energy storage, renewable fuels, and petroleum and petrochemical industries. |
Financial Overview |
For the fiscal year ended 31 December 2023, Primoris Services Corp revenues increased 29% to $5.72B. Net income decreased 5% to $126.1M. Revenues reflect Energy/Renewables segment increase of 60% to $3.34B, Utilities segment increase of 18% to $2.38B. Net income was offset by Selling, general and administrative expe increase of 17% to $328.7M (expense), Interest Expense increase of 99% to $78.2M (expense). Dividend per share remained flat at $0.24. |
Employees: | 2,773 as of Dec 31, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $3,053M as of Dec 31, 2023 |
Annual revenue (TTM): | $5,715M as of Dec 31, 2023 |
EBITDA (TTM): | $365.80M as of Dec 31, 2023 |
Net annual income (TTM): | $126.15M as of Dec 31, 2023 |
Free cash flow (TTM): | $82.76M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | $740.49M as of Dec 31, 2023 |
Shares outstanding: | 53,618,814 as of Mar 11, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |