12:47 PM EST, 11/05/2024 (MT Newswires) -- (Updates with the latest stock move in the first paragraph and the headline.)

Primoris Services ( PRIM ) shares rose 12% in recent trading Tuesday, a day after the company reported Q3 results that topped estimates by analysts and boosted 2024 earnings guidance.

Adjusted net income in the three months ended Sept. 30 rose to $1.22 per diluted share from $1.02 a year earlier, the company said Monday in a statement.

Analysts polled by Capital IQ expected $1.03.

Revenue climbed to $1.65 billion from $1.53 billion a year earlier.

Analysts polled by Capital IQ expected $1.59 billion.

The company increased 2024 adjusted earnings guidance to the range of $3.40 to $3.55 a share from $3.25 to $3.45. Analysts polled by Capital IQ expect $3.34.

Price: 72.02, Change: +7.68, Percent Change: +11.93