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, TX, US
Websiteprimoriscorp.com
Employee Ratings3.7
Overall CultureB

Latest Updates

Employees (est.) (Dec 2019)9,700(-8%)
Job Openings63
Revenue (FY, 2020)$3.5 B(+13%)
Share Price (Jun 2021)$32.2
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, 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
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Primoris Services Financials and Metrics

Primoris Services Revenue

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Primoris Services's revenue was reported to be $3.49 b in FY, 2020
USD

Revenue (Q1, 2021)

818.3m

Gross profit (Q1, 2021)

80.2m

Gross profit margin (Q1, 2021), %

9.8%

Net income (Q1, 2021)

5.8m

EBIT (Q1, 2021)

12.9m

Market capitalization (4-Jun-2021)

1.7b

Closing stock price (4-Jun-2021)

32.2

Cash (31-Mar-2021)

212.8m

EV

2.3b
Primoris Services's current market capitalization is $1.7 b.
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Revenue

2.4b2.9b3.1b3.5b

Revenue growth, %

19%24%6%

Cost of goods sold

2.1b2.6b2.8b3.1b

Gross profit

278.4m325.7m330.9m370.2m
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Revenue

504.1m648.8m908.9m661.6m789.9m865.1m743.2m908.2m942.7m818.3m

Cost of goods sold

459.6m577.4m802.4m609.1m709.4m756.6m695.4m807.2m819.0m738.1m

Gross profit

44.6m71.4m106.5m52.5m80.5m108.4m47.8m101.0m123.7m80.2m

Gross profit Margin, %

9%11%12%8%10%13%6%11%13%10%
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

Revenue/Employee

335.1k

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
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
VadnaisJune 05, 2014
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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 Cybersecurity Score

Cybersecurity ratingPremium dataset

A

92/100

SecurityScorecard logo

Primoris Services Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

CSRHub logo

Primoris Services Online and Social Media Presence

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Primoris Services Company Culture

  • Overall Culture

    B

    79/100

  • CEO Rating

    F

    55/100

  • Compensation

    A+

    100/100

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Primoris Services News and Updates

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 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…

Primoris Services Corporation Reports Fourth Quarter and Full Year 2020 Results

DALLAS, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ GS: PRIM) (“Primoris” or “Company”) today reported financial results for the fourth quarter and full year of 2020 and provided the Company’s financial outlook.

Primoris Services Corporation Schedules Fourth Quarter and Full Year 2020 Earnings Conference Call and Webcast

DALLAS, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced its plans to release financial results for the fourth quarter and full year 2020 on Monday, February 22, 2021, after market close. Copies of the Company’s …

Primoris Services Corporation Announces New Solar Award

DALLAS, Jan. 26, 2021 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced the award of a Limited Notice to Proceed (“LNTP”) for a new solar project with an initial value of $19 million and an anticipated final contract value over…
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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 $3.5 b.

  • What is Primoris Services revenue per employee?

    Latest Primoris Services revenue per employee is $359.9 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.