Primoris Q2 adjusted profit beats estimates, raises FY guidance

Primoris Services

04/08/2025 21:50

Overview

Primoris Q2 revenue up 20.9% yr/yr to $1.89 bln, beating analyst expectations, per LSEG data

Adjusted EPS for Q2 beats consensus, with adjusted net income also exceeding estimates

Company raises full-year EPS and adjusted EPS guidance, reflecting confidence in performance

Outlook

Primoris raises full-year EPS guidance to $4.40-$4.60

Company expects adjusted EPS to be $4.90-$5.10 for 2025

Primoris forecasts adjusted EBITDA between $490 mln and $510 mln

Company targets gross margins of 10-12% for Utilities and Energy segments

Result Drivers

ENERGY SEGMENT - Revenue increased by 27% due to growth in renewable energy activity, despite lower pipeline activity

UTILITIES SEGMENT - Revenue rose 11.6% driven by increased activity in gas operations, power delivery, and communications markets

MARGIN IMPROVEMENT - Improved margins in the Utilities segment contributed to higher operating income

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$1.89 bln
$1.69 bln (8 Analysts)
Q2 Adjusted EPS
Beat
$1.68
$1.08 (8 Analysts)
Q2 EPS
$1.54
Q2 Adjusted Net Income
Beat
$92.20 mln
$59 mln (7 Analysts)
Q2 Net Income
$84.30 mln
Q2 Adjusted EBITDA
Beat
$154.80 mln
$112.10 mln (9 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the construction & engineering peer group is "buy"

Wall Street's median 12-month price target for Primoris Services Corp is $99.00, about 7.9% above its August 1 closing price of $91.14

The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nBw5zD3rVa

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)