Primoris Q1 revenue up 12.4% to $1.41B; net income $18.9M vs $1.3M YoY

Primoris Services Corp

2024-Q1 EPS reported $0.35 revenue$1,412,707,000

Revenue $1,412.7M, up 12.4% YoY, driven by utility-scale solar and industrial construction.
Net income $18.9M ($0.35 diluted EPS) vs $1.3M ($0.02) in Q1 2023.
Adjusted net income $25.8M ($0.47 diluted EPS), up $15.9M YoY.
Adjusted EBITDA $73.8M, up 39.6% from Q1 2023.
Total backlog $10.6B (down $0.3B from Q4 2023); MSA backlog $5.8B.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Primoris Services Corp reported the quarter ended March 31, 2024 results: revenue $1,412.7 million, net income $18.9 million, or $0.35 per diluted share.

Period: the quarter ended March 31, 2024
Revenue: $1,412.7 million
Net income: $18.9 million, or $0.35 per diluted share
Result: reported results

Exact text from the filing

provided comments on the Company’s operational performance and outlook for 2024. For the first quarter of 2024, Primoris reported the following highlights (1) : ● Revenue of $1,412.7 million, up $155.8 million, or 12.4 percent, compared to the first quarter of 2023 primarily driven by strong growth in utility-scale solar and industrial construction within the Energy

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Source: SEC EDGAR

accession 0001361538-24-000010

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