OverviewSuggest Edit

Primoris Services is a provider of specialty contracting services. It operates through five segments: Power, Industrial, and Engineering (Power), Pipeline and Underground (Pipeline), Utilities and Distribution (Utilities), Transmission and Distribution (Transmission), and Civil. The Power segment specializes in engineering, procurement, and construction, retrofits, upgrades, repairs, outages, and maintenance services. The Pipeline segment offers pipeline construction and maintenance, pipeline facility and integrity services, installation of compressor and pump stations, and metering facilities. The Utilities segment deals with the installation and maintenance of new and existing natural gas utility distribution systems and pipeline integrity services. The Transmission segment specializes in the installation and maintenance of new and existing electric utility transmission, substation, and distribution systems. The Civil segment offers highway and bridge construction, airport runway construction, demolition, site work, soil stabilization, mass excavation, flood control, and drainage projects.

TypePublic
Founded2004
HQDallas, TX, US
Websiteprimoriscorp.com
Employee Ratings3.6
Overall CultureB

Latest Updates

Employees (est.) (Dec 2020)10,414(+8%)
Job Openings174
Revenue (FY, 2020)$3.5 B(+13%)
Share Price (Sept 2021)$26.2(+3%)
Cybersecurity ratingAMore

Key People/Management at Primoris Services

Tom McCormick

Tom McCormick

Chief Executive Officer, President
Ken Dodgen

Ken Dodgen

Executive Vice President, Chief Financial Officer
John Moreno

John Moreno

Chief Operating Officer
John M. Perisich

John M. Perisich

Executive Vice President, Chief Legal Officer, and Secretary
Timothy R. Healy

Timothy R. Healy

Group President, Power and Industrial
Scott E. Summers

Scott E. Summers

Segment President, Pipeline Services
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Primoris Services Office Locations

Primoris Services has offices in Dallas, Aurora, Baton Rouge, Beaumont and in 6 other locations
Dallas, TX, US (HQ)
2300 N Field St #1900
Aurora, CO, US
3800 Lewiston St #300
Baton Rouge, LA, US
18484 E Petroleum Dr
Beaumont, TX, US
9025 Blewett Rd
Dade City, FL, US
10518 US-301
Fort Worth, TX, US
115 W 7th St #1410Fort
Show all (10)

Primoris Services Financials and Metrics

Primoris Services Revenue

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View revenue for all periods
Primoris Services's revenue was reported to be $3.49 b in FY, 2020 which is a 12.4% increase from the previous period.
USD

Revenue (Q2, 2021)

881.6m

Gross profit (Q2, 2021)

113.0m

Gross profit margin (Q2, 2021), %

12.8%

Net income (Q2, 2021)

36.3m

EBIT (Q2, 2021)

54.8m

Market capitalization (15-Sept-2021)

1.4b

Closing stock price (15-Sept-2021)

26.2

Cash (31-Mar-2021)

212.8m

EV

2.0b
Primoris Services's current market capitalization is $1.4 b.
Annual
USDFY, 2018FY, 2019FY, 2020

Revenue

2.9b3.1b3.5b

Revenue growth, %

24%6%12%

Cost of goods sold

2.6b2.8b3.1b

Gross profit

325.7m330.9m370.2m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021

Revenue

661.6m789.9m865.1m743.2m908.2m942.7m818.3m881.6m

Cost of goods sold

609.1m709.4m756.6m695.4m807.2m819.0m738.1m768.6m

Gross profit

52.5m80.5m108.4m47.8m101.0m123.7m80.2m113.0m

Gross profit Margin, %

8%10%13%6%11%13%10%13%
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Cash

170.4m151.1m120.3m326.7m

Accounts Receivable

358.2m372.7m404.9m432.5m

Prepaid Expenses

12.6m36.4m42.7m30.2m

Inventories

40.9m
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Cash

134.2m139.4m60.0m74.0m54.1m43.8m93.5m155.7m228.5m212.8m

Accounts Receivable

260.9m375.8m473.0m397.8m472.9m551.5m416.4m468.9m494.5m479.0m

Prepaid Expenses

21.7m40.1m22.4m38.1m30.1m34.2m47.4m45.9m33.0m46.2m

Current Assets

689.7m951.5m938.0m876.3m972.3m961.5m916.7m1.0b1.1b1.1b
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Net Income

76.9m87.6m84.1m105.0m

Depreciation and Amortization

66.3m79.3m85.4m82.5m

Accounts Payable

(30.5m)32.3m(13.9m)9.6m

Cash From Operating Activities

188.9m126.8m118.0m311.9m
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Net Income

4.2m18.4m53.2m2.9m20.8m56.6m(3.7m)29.2m73.2m5.8m

Depreciation and Amortization

16.8m35.2m56.0m19.0m43.4m55.9m19.8m39.2m58.7m24.9m

Accounts Payable

(10.0m)2.1m24.1m(59.2m)(31.4m)(29.8m)23.9m21.9m16.5m186.0k

Cash From Operating Activities

3.7m(716.0k)(12.9m)(72.1m)(96.5m)(40.1m)(5.5m)60.7m191.5m7.5m
USDFY, 2017

Debt/Equity

0.5 x

Debt/Assets

0.2 x

Financial Leverage

2.2 x
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Primoris Services Operating Metrics

Primoris Services's Backlog was reported to be $3.2b in FY, 2019.
FY, 2017FY, 2018FY, 2019

Backlog

$2.6 b$2.76 b$3.18 b

Backlog (Pipeline)

$813 m$702.8 m$862.3 m

Backlog (Power)

$423 m$367.1 m$515.4 m

Construction Projects Ongoing

644
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Primoris Services Acquisitions / Subsidiaries

Company NameDateDeal Size
Future InfrastructureDecember 14, 2020$621.7 m
Willbros GroupJune 01, 2018$110.6 m
Coastal Field ServicesJune 16, 2017$27.5 m
Florida Gas ContractorsMay 26, 2017$33 m
Northern Energy & PowerNovember 18, 2016$6.9 m
Mueller Concrete Construction CompanyJanuary 29, 2016$4.1 m
Aevenia , Inc.February 28, 2015$22.3 m
WilliamsSeptember 19, 2014
Ram-FabAugust 29, 2014
SurberJuly 28, 2014
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Primoris Services Revenue Breakdown

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Primoris Services revenue breakdown by business segment: 22.8% from Power, 25.7% from Pipeline, 26.0% from Utilities, 13.1% from Transmission and 12.4% from Civil

Primoris Services Cybersecurity Score

Cybersecurity ratingPremium dataset

A

92/100

SecurityScorecard logo

Primoris Services Online and Social Media Presence

Embed Graph

Primoris Services Company Culture

  • Overall Culture

    B

    79/100

  • CEO Rating

    F

    55/100

  • Compensation

    A+

    100/100

Learn more on Comparably

Primoris Services News and Updates

2Q21 Earnings Reveal An Opportunity Is Building For Primoris Services

This infrastructure firm has fallen since March 2020, but over 90% of its backlog is positioned in markets that will see significant investment in the coming years.

AI Identifies Primoris Services Corp Among Today’s Top Buys Amid Talk Of Tapering

The Dow Jones dropped around 145 points, the S&P 500 fell 0.4%, and the Nasdaq dipped 0.5%. Make the most of this market with today's top buys from Q.ai's artificial intelligence.

Primoris Services Corporation Secures Heavy Civil Project Valued over $35 million

DALLAS, March 24, 2021 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new heavy civil project with a total value of over $35 million. The contract was secured by the Company’s Energy Segment.

Primoris Services Corporation Announces New Solar Award Valued over $220 million

DALLAS, March 23, 2021 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new solar award with a total value of over $220 million. The contract was secured by the Company’s Energy Segment. This is the third project in which Pr…

Primoris Services Corporation Announces Pricing of Public Offering of Common Stock

DALLAS, March 18, 2021 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”), a leading provider of specialty contracting services in North America, today announced the pricing of its previously announced underwritten public offering of 4,500,000 …

Primoris Services Corporation Announces Commencement of Public Offering of Common Stock

DALLAS, March 16, 2021 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”), a leading provider of specialty contracting services in North America, today announced that it has commenced an underwritten public offering of 4,500,000 shares of its c…
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Primoris Services Frequently Asked Questions

  • When was Primoris Services founded?

    Primoris Services was founded in 2004.

  • Who are Primoris Services key executives?

    Primoris Services's key executives are Tom McCormick, Ken Dodgen and John Moreno.

  • How many employees does Primoris Services have?

    Primoris Services has 10,414 employees.

  • What is Primoris Services revenue?

    Latest Primoris Services annual revenue is $3.5 b.

  • What is Primoris Services revenue per employee?

    Latest Primoris Services revenue per employee is $335.3 k.

  • Who are Primoris Services competitors?

    Competitors of Primoris Services include WSP Global, MYR Group and PTW Energy Services.

  • Where is Primoris Services headquarters?

    Primoris Services headquarters is located at 2300 N Field St #1900, Dallas.

  • Where are Primoris Services offices?

    Primoris Services has offices in Dallas, Aurora, Baton Rouge, Beaumont and in 6 other locations.

  • How many offices does Primoris Services have?

    Primoris Services has 10 offices.