Primoris(US:PRIM) ZACKS·2025-11-04 19:11Core Insights - Primoris Services Corporation (PRIM) reported strong third-quarter 2025 results, with adjusted earnings and revenues exceeding Zacks Consensus Estimates and showing year-over-year growth [1][5][11] Financial Performance - Adjusted earnings per share (EPS) reached $1.88, surpassing the consensus estimate of $1.32 by 42.4%, and increased from $1.22 in the same quarter last year [5][11] - Total revenues amounted to $2.18 billion, exceeding the consensus mark of $1.81 billion by 20.3% and reflecting a 32.1% increase from $1.65 billion year-over-year [5][11] - Adjusted EBITDA rose 32.1% year-over-year to $168.7 million, with adjusted net income increasing by $36.4 million to $103.1 million for the quarter [12] Segment Performance - Utilities Segment: Revenues increased by 10.7% year-over-year to $737.5 million, driven by activity in power delivery, gas operations, and communications markets [6] - Energy Segment: Revenues surged 47% year-over-year to $1.49 billion, fueled by growth in renewable energy and industrial activity, despite lower pipeline activity [8] Future Outlook - Primoris anticipates continued growth opportunities in solar energy and natural gas generation, aiming to strengthen its project backlog [3] - The company projects 2025 EPS in the range of $5.35 to $5.55, up from previous expectations of $4.90 to $5.10, with adjusted EBITDA expected between $510 million and $530 million [13][14] Backlog and Expenses - Total potential housing revenues from the backlog decreased by 6.8% year-over-year to $11.1 billion, primarily due to timing of fixed backlog awards in the Energy segment [10] - Selling, general and administrative (SG&A) expenses totaled $97.7 million, a 0.4% decrease from the prior-year quarter [10]