NYSE$PRIM
Primoris Services Corporation · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Primoris reported strong revenue growth and a record backlog, driven by the Utilities and Energy/Renewables segments, including contributions from the PLH acquisition. Net income and adjusted EPS were delivered with updated EPS guidance.
Primoris Services Corporation reported a 40.6% increase in revenue to $1,284.1 million, driven by growth in the Utilities and Energy/Renewables segments and contributions from the PLH acquisition. Net income was $43.0 million, or $0.80 per diluted share, and adjusted net income was $60.4 million, or $1.12 per diluted share. The company's backlog increased to a record $5.5 billion.
- Revenue increased by 40.6% year-over-year, reaching $1,284.1 million, driven by strong growth in the Utilities and Energy/Renewables segments, including $155.7 million from the PLH acquisition.
- Net income was $43.0 million, or $0.80 per diluted share, and adjusted net income was $60.4 million, or $1.12 per diluted share.
- Adjusted EBITDA reached $109.0 million.
- Backlog increased to a record $5.5 billion, up 99.8% from the third quarter of 2021, including Master Service Agreements (MSA) backlog of $2.1 billion.
Headline financials
Revenue & EPS history
Primoris · Revenue · Quarterly
$1.28B
Revenue by segment
Primoris · $230M total across 1 segment · Q4 2020
- Utilities$230M-2.6%100.0%
Forward guidance
The Company estimates that its EPS for the year ending December 31, 2022, will range between $2.31 and $2.51 and is maintaining its Adjusted EPS estimate for the year ending December 31, 2022, in the range of $2.39 to $2.59 per share.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
+0.1%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+1.2%
Avg return
30 days after
55%
36 / 65 earnings
Positive
+16.1%
Q3 2024
Best reaction
-15.1%
Q4 2014
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +9.4% | -43.5% | -31.4% | |
| Q4 2025 | -6.4% | -9.0% | -15.1% | |
| Q3 2025 | -10.7% | -12.4% | -12.2% | |
| Q1 2025 | -2.5% | +1.8% | +9.9% | |
| Q4 2024 | +9.6% | +11.5% | -10.5% | |
| Q3 2024 | +16.1% | +28.4% | +33.5% | |
| Q2 2024 | +0.8% | +3.4% | +0.9% | |
| Q1 2024 | +5.3% | +3.5% | +9.9% | |
| Q4 2023 | -5.4% | -0.7% | +5.2% | |
| Q3 2023 | +1.5% | +0.4% | +3.6% | |
| Q2 2023 | +5.7% | +7.2% | +7.0% | |
| Q1 2023 | +0.6% | +0.9% | +24.4% | |
| Q4 2022 | +4.9% | +6.2% | -7.0% | |
| Q3 2022 | +3.8% | +4.5% | -0.8% | |
| Q2 2022 | -5.8% | -0.4% | -12.8% | |
| Q1 2022 | -7.2% | -2.6% | +6.7% | |
| Q4 2021 | -10.6% | -4.7% | -5.1% | |
| Q3 2021 | -6.6% | -11.3% | -14.8% | |
| Q2 2021 | -10.2% | -9.1% | -10.7% | |
| Q1 2021 | -1.6% | -2.7% | -2.7% | |
| Q4 2020 | +7.9% | +4.6% | -1.0% | |
| Q3 2020 | +8.2% | +19.7% | +37.0% | |
| Q2 2020 | +9.4% | +7.3% | +15.4% | |
| Q1 2020 | -5.0% | +1.2% | +23.6% | |
| Q4 2019 | -10.5% | -15.9% | -32.4% | |
| Q3 2019 | +12.5% | +4.9% | +3.0% | |
| Q2 2019 | +1.8% | +3.8% | +0.5% | |
| Q1 2019 | -1.4% | -4.8% | -13.0% | |
| Q4 2018 | +6.9% | +5.2% | -5.7% | |
| Q3 2018 | +6.8% | +6.2% | +3.3% | |
| Q2 2018 | -9.8% | -7.5% | -9.8% | |
| Q1 2018 | -2.1% | -4.1% | +5.6% | |
| Q4 2017 | +1.9% | +8.3% | +2.1% | |
| Q3 2017 | -0.2% | -6.9% | +1.0% | |
| Q2 2017 | +4.1% | +4.9% | +12.4% | |
| Q1 2017 | +6.6% | +5.8% | +5.9% | |
| Q4 2016 | +1.2% | -0.7% | -10.1% | |
| Q3 2016 | +14.5% | +18.3% | +22.4% | |
| Q2 2016 | -6.2% | -6.2% | +9.1% | |
| Q1 2016 | -1.5% | — | — | |
| Q4 2015 | +4.9% | — | — | |
| Q3 2015 | +5.6% | — | — | |
| Q2 2015 | +0.5% | — | — | |
| Q1 2015 | +0.2% | — | — | |
| Q4 2014 | -15.1% | — | — | |
| Q3 2014 | -0.5% | — | — | |
| Q2 2014 | +14.6% | — | — | |
| Q1 2014 | +5.9% | — | — | |
| Q4 2013 | -0.3% | — | — | |
| Q3 2013 | +6.8% | — | — | |
| Q2 2013 | +3.7% | — | — | |
| Q1 2013 | -2.4% | — | — | |
| Q4 2012 | +6.3% | — | — | |
| Q3 2012 | -5.9% | — | — | |
| Q4 2011 | +0.8% | — | — | |
| Q2 2012 | +0.8% | — | — | |
| Q1 2011 | -11.2% | — | — | |
| Q1 2012 | -11.2% | — | — | |
| Q4 2009 | -1.3% | — | — | |
| Q3 2011 | +0.7% | — | — | |
| Q3 2010 | +0.7% | — | — | |
| Q2 2011 | -12.8% | — | — | |
| Q2 2010 | -12.8% | — | — | |
| Q4 2010 | -12.8% | — | — | |
| Q1 2010 | +3.6% | — | — |
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