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Primoris(PRIM) - 2025 Q1 - Earnings Call Presentation
2025-05-06 13:48
Financial Performance - Q1 2025 - Revenue increased to $1,648.112 million in 1Q 2025, compared to $1,412.707 million in 1Q 2024[7] - Net income rose to $44.240 million in 1Q 2025, significantly higher than the $18.943 million in 1Q 2024[7] - Diluted EPS increased to $0.81 in 1Q 2025, compared to $0.35 in 1Q 2024[7] - Adjusted EBITDA increased to $99.412 million in 1Q 2025, from $73.758 million in 1Q 2024[7] - Adjusted EPS increased to $0.98 in 1Q 2025, from $0.47 in 1Q 2024[7] Segment Performance - Q1 2025 - Utilities revenue was $563.407 million with a gross profit of $51.578 million (9.2% of segment revenue) and operating income of $18.060 million (3.2% of segment revenue)[11] - Energy revenue was $1,108.341 million with a gross profit of $119.079 million (10.7% of segment revenue) and operating income of $78.861 million (7.1% of segment revenue)[11] Backlog - Total backlog decreased in Q1 2025, driven primarily by higher renewables revenue in the Energy segment[10] - Total backlog as of March 31, 2025, was $11,386 million, with 51% in Energy and 49% in Utilities[9] Full Year 2025 Guidance - The company projects full year 2025 EPS to be in the range of $3.70 to $3.90 per diluted share[16] - The company projects full year 2025 Adjusted EPS to be in the range of $4.20 to $4.40 per diluted share[17] - The company projects full year 2025 Adjusted EBITDA to be in the range of $440 million to $460 million[18]