Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Valu ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks. Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tried-and-true metrics an ...

quantic69 Investment Thesis Primoris Services Corporation (NYSE:PRIM) delivered a strong quarter for Q2 2024, fueled by the consistent incredible growth in their energy segment and investments in emerging trends in renewable energy and AI-driven utility needs that are really starting to pay off. The construction and infrastructure company reported a revenue of $1.563 billion, up 10.6% year-over-year, which surpassed Wall Street expectations by $30 million. This growth was driven by the rise in demand for so ...

Primoris president and CEO Tom McCormick emphasized the strong demand for the company's utility-scale solar and natural gas solutions. McCormick attributed this demand to the growing need for power generation and the company's solid customer relationships, underpinned by a proven track record of safe and successful project execution. Image Source: Zacks Investment Research activity. Some better-ranked stocks in the same space are: DY delivered a trailing four-quarter earnings surprise of 30.5%, on average. ...

# F F I 1 1 Based in Dallas, Texas, Primoris Services Corporation (NYSE:PRIM) is in the business of providing infrastructure services. Operating mainly in the U.S. and Canada, the company offers a broad range of construction, replacement, fabrication, and engineering services to a diversified customer base through its two primary segments, (i) utilities and (ii) energy. I am particularly interested in the energy business for several reasons: 1. It provides services to the LNG, electricity and construction m ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Eve ...

What's Driving the Outperformance? The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on May 8, 2024, Primoris Services reported EPS of $0.47 versus consensus estimate of $0.08. Valuation Metrics On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). These styles are ...

Primoris Services Corporation (NYSE:PRIM) Q1 2024 Results Conference Call May 9, 2024 10:00 AM ET Company Participants Blake Holcomb - Vice President of Investor Relations Tom McCormick - President and Chief Executive Officer Ken Dodgen - Chief Financial Officer Conference Call Participants Lee Jagoda - CJS Securities Steven Fisher - UBS Jerry Revich - Goldman Sachs Brent Thielman - D.A. Davidson Julio Romero - Sidoti & Company Adam Thalhimer - Thompson, Davis Operator Ladies and gentlemen, thank you for st ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to . Commission file number 001-34145 Primoris Services Corporation (Exact name of registrant as specified in its charter) Delaware 20-474 ...

Financial Data and Key Metrics Changes - The company reported a revenue increase to $5.7 billion, up 29% from 2022, driven largely by the Energy segment, which was up 39% [74] - Fourth quarter revenue was $1.5 billion, an increase of $186 million or 14% compared to the prior year [57] - Gross profit for the fourth quarter improved slightly to approximately $157 million, but gross margins declined to 10.3% from the prior year [57][58] Business Line Data and Key Metrics Changes - In the Utility segment, revenue was essentially flat compared to the prior year, with gross profit down to approximately $43 million, a decrease of 39% [84] - The Energy segment revenue increased by $196 million compared to the prior year, with gross profit increasing over 36% to $114 million [58][86] - Non-MSA revenue in the Utility segment increased by more than 70% from the previous year, indicating a shift towards project work [50] Market Data and Key Metrics Changes - The company booked $7.5 billion of work during the year, resulting in a total backlog of $10.9 billion, an increase of approximately 20% from 2022 [48][91] - The renewables business closed the year with more than $2.4 billion in backlog, reflecting strong demand despite industry challenges [53] Company Strategy and Development Direction - The company aims to grow its non-MSA utilities revenue to 30% to 40% of segment revenue, specifically targeting power delivery [31] - There is a focus on improving operational performance and profitability by shifting towards higher-margin business lines and better contract terms [67][105] - The company plans to expand its project management teams from 15 to 17 by the end of the year to meet growing demand [54] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future potential of renewables and the overall market, citing ongoing investments in infrastructure services [55][80] - The company expects operating cash flows for 2024 to be around $150 million, indicating a focus on improving cash conversion and working capital [9][68] - Management anticipates Utility segment margins in the 9% to 11% range for the full year, with Q1 expected to be in the 5% to 7% range [92] Other Important Information - The effective tax rate for 2023 was 29%, expected to remain similar in 2024 [61] - The company invested $20.5 million in CapEx during the fourth quarter, with a total of $103 million for the full year [62] Q&A Session Summary Question: What is the revenue guidance for both segments? - The company expects around $6 billion in revenue for 2024, with approximately $2.3 billion from Utilities and $3.7 billion from Energy [114] Question: What is the expected performance of the Utilities segment? - Utilities segment margins are expected to improve, reaching high-single-digit margins as the year progresses [117] Question: What was the renewables revenue for the full year in 2023? - The renewables revenue for 2023 was a little over $1.3 billion, with expectations for about 20% growth in 2024 [118][119]