8-K
filed February 26, 2024, 6:59 PM ET
ticker PRIM
CIK 0001361538
earnings
confidence high
sentiment neutral
materiality 0.65
Primoris FY2023 revenue $5.7B (+29%); net income down 5%; record backlog $10.9B; dividend $0.06
Primoris Services Corp
2023-FY EPS reported
$2.33
revenue$5,715,309,000
- Full year 2023 revenue $5.7B (up 29.3% YoY); net income $126.1M, $2.33 diluted EPS (down 5.2%).
- Q4 2023 revenue $1.5B (up 14% YoY); net income $37.7M, $0.69 diluted EPS (down 9.3%).
- Adjusted EBITDA FY23 $379.5M (+33.9%); record total backlog $10.9B (+19.8%).
- Cash dividend of $0.06 per share; record date March 28, 2024; payable April 15, 2024.
- Full year operating cash flow $198.6M, up $115.2M from 2022.
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 fourth quarter 2023 results: revenue $1.5 billion, net income $37.7 million, EPS $0.69 per diluted share. Guidance initiated.
- Period
- the fourth quarter 2023
- Revenue
- $1.5 billion
- Net income
- $37.7 million
- EPS
- $0.69 per diluted share
- Guidance
- initiated
- Result
- reported results
Exact text from the filing
For the fourth quarter 2023, Primoris reported the following highlights (1) : ● Revenue of $1.5 billion, up $186.4 million, or 14.0 percent, compared to the fourth quarter of 2022 driven by renewables growth in the Energy segment ● Net income of $37.7 million, or $0.69 per diluted share, down 9.3 percent from the fourth quarter of 2022 primarily due to higher income tax and interest expense, partially offset by higher operating income
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Primoris Services Corp reported the full year 2023 results: revenue $5.7 billion, net income $126.1 million, EPS $2.33 per diluted share. Guidance initiated.
- Period
- the full year 2023
- Revenue
- $5.7 billion
- Net income
- $126.1 million
- EPS
- $2.33 per diluted share
- Guidance
- initiated
- Result
- reported results
Exact text from the filing
For the full year 2023, Primoris reported the following highlights (1) : ● Revenue of $5.7 billion, up $1.3 billion, or 29.3 percent, compared to the full year of 2022 driven by strong growth in the Energy and Utilities segments, including contributions from the acquisitions of PLH and B Comm ● Net income of $126.1 million, or $2.33 per diluted share, down 5.2 percent from the full year of 2022 due to higher income tax and interest expense, partially offset by higher operating income
View on SEC.gov
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