Primoris Services (PRIM) Q3 Earnings and Revenues Top Estimates

Core Insights - Primoris Services (PRIM) reported quarterly earnings of $1.22 per share, exceeding the Zacks Consensus Estimate of$0.95 per share, and up from $1.02 per share a year ago, representing an earnings surprise of 28.42$1.65 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 3.94% and increasing from 1.53 billion year-over-year [2] - Primoris Services has outperformed the S&P 500 with a stock price increase of approximately 91.5% since the beginning of the year, compared to the S&P 500's gain of 20.1% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is 0.86 on revenues of $1.5 billion, and for the current fiscal year, it is$3.33 on revenues of $6.07 billion [7] - The estimate revisions trend for Primoris Services is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Building Products - Heavy Construction industry, to which Primoris Services belongs, is currently ranked in the top 20$1.78 per share, reflecting a year-over-year change of -150.7%, with revenues anticipated to be $1.13 billion, up 7% from the previous year [9][10]