Primoris Services Corp reports results for the quarter ended in September 30 - Earnings Summary

Primoris Services

05/11/2024 07:52

* Primoris Services Corp  PRIM.N  reported quarterly
adjusted
earnings of $1.22​​ per share for the quarter ended September
30, higher than the same quarter last year, when the company
reported EPS of 89 cents.  The mean expectation of
seven analysts for the quarter was for earnings of $1.02 per
share. Wall Street expected results to range from 95 cents
to $1.09 per share.
    * Revenue rose 7.8% to $1.65 billion from a year ago;
analysts
expected $1.58 billion. 
    * Primoris Services Corp's reported EPS for the quarter was
$1.07​.
    * The company reported quarterly net income of $58.44
million.
    * Primoris Services Corp shares had risen by 10.8% this
quarter and gained 93.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.4%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "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 $64.00 
This summary was machine generated from LSEG data November 5 at
07:52 a.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
 Sep. 30 2024      1.02           1.22           Beat
 Jun. 30 2024      0.79           1.04           Beat
 Mar. 31 2024      0.14           0.47           Beat
 Dec. 31 2023      0.67           0.69           Beat