PRIM Earnings Prediction
The chart below shows how PRIM performed 10 days before and after its earnings report, based on data from the past quarters. Typically, PRIM sees a -2.23% change in stock price 10 days leading up to the earnings, and a +7.09% change 10 days following the report. On the earnings day itself, the stock moves by -0.15%. This data can give you a slight idea of what to expect for the next quarter's release.
PRIM Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
1.65B
7.82%
5.46%
Gross Margin
12.04%
5.89%
0.84%
Operating Margin
6.09%
4.10%
9.93%
Net Margin
3.54%
12.38%
11.67%
EPS
1.07
20.22%
17.58%
No Data Available
PRIM Earnings Analysis
Primoris Services Corporation Corporation (PRIM.N) Earnings Conference Call
Positive
Record Revenue Growth: Record revenue of over $1.6 billion, an increase of $119.6 million or 7.8% over the prior year, driven primarily by growth in both Energy and Utilities segments.
Energy Revenue Increase: Energy segment revenue increased by $123.1 million or 13.9% from the prior year, primarily driven by solar, partially offset by lower industrial construction activity.
Utilities Segment Profit Increase: Utilities segment gross profit was $87 million, up $22.4 million or 34.6% compared to the prior year, due to revenue growth.
Record Cash Flow Achievement: Record cash flow from operations in the quarter was $222 million, representing the best quarter as a company.
EPS Guidance Increase: The company raised its full-year EPS guidance to $2.85 to $3 per share, reflecting strong operational performance and lower expected interest expense for the year.
Negative
Revenue and Income Growth: Our record revenue was accompanied by a higher growth rate in operating income, but we still expect to see the gas business to be slightly down this year.
Gas Business Performance Outlook: Despite the strong performance in Q3, we still expect to see the gas business to be slightly down this year, but the team has performed very well in maintaining margins despite the decreased revenue.
Margin Decline Factors: We did experience lower margins in the business in the third quarter compared to last year due primarily to fewer project closeouts and unfavorable weather conditions that negatively impacted our productivity on several projects.
Margin Decline Factors: We have seen lower margins in the business in the third quarter compared to last year due primarily to fewer project closeouts and unfavorable weather conditions that negatively impacted our productivity on several projects.
Backlog Increase Overview: Our total backlog at the end of Q3 was just under $11.3 billion, up $366 million from the end of 2023 and more than $800 million higher sequentially from Q2.
PRIM FAQs
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PRIM Earning Call Sentiment
Primoris Services Corporation (PRIM) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
PRIM.N
-2.63%Positive
The company demonstrated strong financial performance with increased revenue, gross profit, and a significant backlog. Despite some seasonal fluctuations, the guidance remains optimistic with raised EPS and adjusted EBITDA forecasts. The Q&A session revealed confidence in growth opportunities, particularly in renewables and utilities. While Q4 bookings might decrease slightly, the overall outlook is positive, supported by a strong market strategy and improved financial health. The market cap indicates a moderate reaction, leading to a predicted positive stock price movement of 2% to 8% over the next two weeks.
