Primoris Q3 revenue up 19% to $1.53B; net income $48.1M; declares $0.06 dividend

Primoris Services Corp

2023-Q3 EPS reported $1.63 revenue$4,199,760,000

Revenue $1,529.5M (+19.1% YoY) driven by power delivery, renewables, industrial, pipeline.
Net income $48.1M ($0.89 diluted EPS) vs $43.0M ($0.80) a year ago; adjusted EPS $1.02.
Backlog $6.7B (+22.2% YoY); MSA backlog $2.1B.
Board declared $0.06/share cash dividend payable Jan 12, 2024 to holders of record Dec 29, 2023.
Share purchase program replenished to $25M (expires Dec 31, 2024); $19M remained as of Sep 30.

item 2.02 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 0.9

Primoris Services Corp reported the quarter ended September 30, 2023 results: revenue $1,529.5 million, net income $48.1 million, or $0.89 per diluted share, EPS $0.89 per diluted share.

Period: the quarter ended September 30, 2023
Revenue: $1,529.5 million
Net income: $48.1 million, or $0.89 per diluted share
EPS: $0.89 per diluted share
Result: reported results

Exact text from the filing

For the third quarter of 2023, Primoris reported the following highlights (1) : ● Revenue of $1,529.5 million, up $245.4 million, or 19.1 percent, compared to the third quarter of 2022 driven by strong growth in power delivery, renewables, industrial and pipeline businesses; ● Net income of $48.1 million, or $0.89 per diluted share, an increase of $5.1 million, or $0.09 per diluted share, from the third quarter of 2022

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Source: SEC EDGAR

accession 0001361538-23-000031

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