Overview

* Primoris Q3 revenue grows 32.1%, beating analyst expectations

* Adjusted EPS for Q3 beats consensus, reflecting effective operational performance

* Company raises full-year guidance for net income, adjusted EBITDA, and EPS

Outlook

* Company raises full-year net income guidance to $260.5 mln - $271.5 mln

* Primoris expects full-year EPS of $4.75 to $4.95 per diluted share

* Adjusted EBITDA for 2025 expected to range from $510 mln to $530 mln

Result Drivers

* ENERGY SEGMENT GROWTH - Revenue increased by 47% due to growth in renewable energy and industrial activity, partially offset by lower pipeline activity

* UTILITIES SEGMENT GROWTH - Revenue rose 10.7% driven by increased activity in power delivery, gas operations, and communications markets

* MARGIN PRESSURE - Gross profit margins decreased due to lower storm response activity and increased costs in renewables projects

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $2.17 $1.84

Revenue bln bln (11

Analysts

)

Q3 Beat $1.88 $1.38

Adjusted (10

EPS Analysts

)

Q3 EPS $1.73

Q3 Beat $103.10 $73.35

Adjusted mln mln (9

Net Analysts

Income )

Q3 Net $94.60

Income mln

Q3 Beat $168.70 $135.89

Adjusted mln mln (12

EBITDA Analysts

)

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the construction & engineering peer group is "buy"

* Wall Street's median 12-month price target for Primoris Services Corp ( PRIM ) is $154.00, about 8.1% above its October 31 closing price of $141.52

* The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 20 three months ago

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)