Primoris Q2 revenue +38% to $1.41B; raises EPS guidance to $2.15-$2.35

Primoris Services Corp

2023-Q2 EPS reported $0.75 revenue$2,670,273,000

Revenue $1,413.4M, up 38.2% YoY; net income $39.0M ($0.72 EPS) vs $50.1M ($0.93 EPS) in Q2 2022.
Adjusted net income $43.4M ($0.80 adjusted EPS), up $17.3M from Q2 2022.
Adjusted EBITDA $102.4M, up 82.3% YoY; backlog $6.6B (+44.1%), MSA backlog $2.0B.
Raised 2023 EPS guidance to $2.15-$2.35 and adjusted EPS to $2.60-$2.80 per share.
Declared $0.06/share cash dividend, payable Oct 13, 2023 to holders of record Sept 29, 2023.

item 2.02 item 2.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Primoris Services Corp reported second quarter ended June 30, 2023 results: revenue $1,413.4 million, net income $39.0 million, EPS $0.72 per diluted share. Guidance raised.

Period: second quarter ended June 30, 2023
Revenue: $1,413.4 million
Net income: $39.0 million
EPS: $0.72 per diluted share
Guidance: raised
Result: preliminary results

Exact text from the filing

provided comments on the Company’s operational performance and outlook for 2023. For the second quarter of 2023, Primoris reported the following highlights (1) : ● Revenue of $1,413.4 million, up $390.4 million, or 38.2 percent, compared to the second quarter of 2022 driven by strong growth in both the Utilities and Energy segments and in part by the PLH and B Comm

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Primoris Services Corp reported quarter ended June 30, 2023 results: revenue $1,413.4 million, net income $39.0 million, EPS $0.72 per diluted share. Guidance raised.

Period: quarter ended June 30, 2023
Revenue: $1,413.4 million
Net income: $39.0 million
EPS: $0.72 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

provided comments on the Company’s operational performance and outlook for 2023. For the second quarter of 2023, Primoris reported the following highlights (1) : ● Revenue of $1,413.4 million, up $390.4 million, or 38.2 percent, compared to the second quarter of 2022 driven by strong growth in both the Utilities and Energy segments and in part by the PLH and B Comm

View on SEC.gov

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Source: SEC EDGAR

accession 0001361538-23-000028

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