Primoris Services Corp reports results for the quarter ended in December - Earnings Summary

Primoris Services

26/02/2024 23:21

* Primoris Services Corp  PRIM.N  reported quarterly
adjusted
earnings of 69 cents​​ per share for the quarter ended in
December, lower than the same quarter last year, when the
company reported EPS of 77 cents.  The mean expectation of
six analysts for the quarter was for earnings of 67 cents per
share. Wall Street expected results to range from 60 cents to 76
cents per share.
    * Revenue rose 14% to $1.52 billion from a year ago;
analysts
expected $1.55 billion. 
    * Primoris Services Corp's reported EPS for the quarter was
69
cents​.
    * The company reported quarterly net income of $37.66
million.
    * Primoris Services Corp shares had risen by 20.2% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the construction
&
engineering peer group is also "buy"

Wall Street's median 12-month price target for Primoris Services
Corp is $40.50 
This summary was machine generated from LSEG data February 26 at
11:19 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.67           0.69           Beat
 Sep. 30 2023      0.78           0.89           Beat
 Jun. 30 2023      0.54           0.72           Beat
 Mar. 31 2023      -0.12          0.02           Beat