OverviewSuggest Edit

Primoris Services is a provider of specialty contracting services. It offers a range of construction, fabrication, maintenance, replacement, and engineering services to major public utilities, petrochemical and energy companies, and municipalities. The company segregates its business into five reportable segments: Power, Industrial and Engineering, Pipeline and Underground, Utilities and Distribution, Transmission and Distribution, and Civil.
TypePublic
Founded2004
HQDallas, US
Websiteprimoriscorp.com
Employee Ratings3

Latest Updates

Employees (est.) (Dec 2019)9,700(-8%)
Revenue (FY, 2019)$3.1 B(+6%)
Share Price (Oct 2020)$19.7
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, General Counsel and Secretary
Michael A. Christy

Michael A. Christy

Group President, Utilities & Distribution
Timothy R. Healy

Timothy R. Healy

Group President, Power, Industrial & Engineering
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Primoris Services Office Locations

Primoris Services has offices in Dallas, Baton Rouge, Beaumont, Crossett and in 6 other locations
Dallas, US (HQ)
2300 N Field St #1900
Baton Rouge, US
18484 E Petroleum Dr
Beaumont, US
9025 Blewett Rd
Crossett, US
150 Highway 133 Spur
Dade City, US
10518 US-301
Denver, US
4880 Havana St #500Denver
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Primoris Services Financials and Metrics

Primoris Services Revenue

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Primoris Services's revenue was reported to be $3.11 b in FY, 2019 which is a 5.7% increase from the previous period.
USD

Revenue (Q2, 2020)

908.2m

Gross profit (Q2, 2020)

101.0m

Gross profit margin (Q2, 2020), %

11.1%

Net income (Q2, 2020)

33.0m

EBIT (Q2, 2020)

49.5m

Market capitalization (16-Oct-2020)

952.5m

Closing stock price (16-Oct-2020)

19.7

Cash (30-Jun-2020)

155.7m

EV

1.3b
Primoris Services's current market capitalization is $952.5 m.
Annual
USDFY, 2017FY, 2018FY, 2019

Revenue

2.4b2.9b3.1b

Revenue growth, %

19%24%6%

Cost of goods sold

2.1b2.6b2.8b

Gross profit

278.4m325.7m330.9m
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Revenue

504.1m648.8m908.9m661.6m789.9m865.1m743.2m908.2m

Cost of goods sold

459.6m577.4m802.4m609.1m709.4m756.6m695.4m807.2m

Gross profit

44.6m71.4m106.5m52.5m80.5m108.4m47.8m101.0m

Gross profit Margin, %

9%11%12%8%10%13%6%11%
Annual
USDFY, 2017FY, 2018FY, 2019

Cash

170.4m151.1m120.3m

Accounts Receivable

358.2m372.7m404.9m

Prepaid Expenses

12.6m36.4m42.7m

Inventories

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

Cash

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

Accounts Receivable

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

Prepaid Expenses

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

Current Assets

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

Net Income

76.9m87.6m84.1m

Depreciation and Amortization

66.3m79.3m85.4m

Accounts Payable

(30.5m)32.3m(13.9m)

Cash From Operating Activities

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

Net Income

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

Depreciation and Amortization

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

Accounts Payable

(10.0m)2.1m24.1m(59.2m)(31.4m)(29.8m)23.9m21.9m

Cash From Operating Activities

3.7m(716.0k)(12.9m)(72.1m)(96.5m)(40.1m)(5.5m)60.7m
USDFY, 2017

EV/EBIT

14 x

EV/CFO

7.9 x

Revenue/Employee

335.1k

Debt/Equity

0.5 x

Debt/Assets

0.2 x

Financial Leverage

2.2 x

P/E Ratio

19.4
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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

$2.60 b$2.76 b$3.18 b

Backlog (Pipeline)

$813 m$702.80 m$862.30 m

Backlog (Power)

$423 m$367.10 m$515.40 m

Construction Projects Ongoing

6 4 4
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Primoris Services Acquisitions / Subsidiaries

Company NameDateDeal Size
Willbros GroupJune 01, 2018$110.60 m
Coastal Field ServicesJune 16, 2017$27.50 m
Florida Gas ContractorsMay 26, 2017$33 m
Northern Energy & PowerNovember 18, 2016$6.90 m
Mueller Concrete Construction CompanyJanuary 29, 2016$4.10 m
Aevenia , Inc.February 28, 2015$22.30 m
WilliamsSeptember 19, 2014
Ram-FabAugust 29, 2014
SurberJuly 28, 2014
VadnaisJune 05, 2014
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Primoris Services Cybersecurity Score

Cybersecurity ratingPremium dataset

A

95/100

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Primoris Services Revenue Breakdown

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Primoris Services revenue breakdown by business segment: 23.5% from Power, 16.3% from Pipeline, 28.5% from Utilities, 16.0% from Transmission and 15.7% from Civil

Primoris Services Online and Social Media Presence

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Primoris Services News and Updates

Primoris Services Corporation Schedules Conference Call to Discuss 2020 Third Quarter Financial Results

DALLAS, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) announced today that management will host a conference call at 10:00 am Eastern Time / 9:00 am Central Time on Friday, November 6, 2020 to discuss the Company’s third quar…

Primoris Services Corporation Announces Industrial Award Valued Over $110 Million

DALLAS, Oct. 05, 2020 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced the renewal of a Master Service Agreement (“MSA”) with a major energy customer with an anticipated value of over $110 million. The contract was secured by …

Primoris Services Corporation to Participate in Several Investor Conferences in September

DALLAS, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) will be participating in three investor conferences in September.  Management will take part in the Morgan Stanley 8th Annual Laguna Conference on Thursday, September 17;…

Primoris Services Corporation Announces Pipeline Awards Valued Over $75 Million

DALLAS, Sept. 03, 2020 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced three new pipeline awards with a combined value over $75 million.  The contracts were secured by the Pipeline & Underground segment.

Primoris Services Corporation Expands Pipeline Repair Capabilities

DALLAS, Aug. 27, 2020 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) Earlier this month Primoris Services Corporation and Raedlinger Primus Line, Inc. (“Primus Line”) officially completed a Joint Marketing Agreement. The signing of this agr…

Primoris Services Corporation Announces Heavy Civil Award Valued at $30 Million

DALLAS, Aug. 17, 2020 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new heavy civil award valued at $30 million.  The contract was secured by the Civil segment. 
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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 9,700 employees.

  • What is Primoris Services revenue?

    Latest Primoris Services annual revenue is $3.1 b.

  • What is Primoris Services revenue per employee?

    Latest Primoris Services revenue per employee is $320.2 k.

  • Who are Primoris Services competitors?

    Competitors of Primoris Services include PTW Energy Services, PESTECH and Aecon Group.

  • 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, Baton Rouge, Beaumont, Crossett and in 6 other locations.

  • How many offices does Primoris Services have?

    Primoris Services has 10 offices.