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Primoris(PRIM) - 2025 Q2 - Earnings Call Presentation

Financial Performance - Q2 2025 - Revenue reached $1,890.745 million, a 20.9% increase compared to $1,563.715 million in 2Q 2024 [8] - Net Income increased significantly by 70.2%, from $49.543 million in 2Q 2024 to $84.319 million in 2Q 2025 [8] - Adjusted EBITDA rose by 32.2%, from $117.081 million in 2Q 2024 to $154.784 million in 2Q 2025 [8] - Adjusted Net Income increased by 61.6%, from $57.064 million in 2Q 2024 to $92.218 million in 2Q 2025 [8] - Adjusted Diluted EPS increased by 61.2%, from $1.04 in 2Q 2024 to $1.68 in 2Q 2025 [8] Segment Performance - Q2 2025 - Utilities segment revenue was $693.021 million with a gross profit of $97.545 million (14.1% of segment revenue) and operating income of $65.577 million (9.5% of segment revenue) [13] - Energy segment revenue was $1,236.807 million with a gross profit of $134.191 million (10.8% of segment revenue) and operating income of $92.574 million (7.5% of segment revenue) [13] Backlog - Total backlog increased from Q1 2025, driven primarily by Utilities segment bookings [12] - As of June 30, 2025, the backlog was split with 52% in Energy and 48% in Utilities [11] 2025 Guidance - The company increased its full year 2025 Adjusted EPS guidance to $4.90 - $5.10 per diluted share [18] - The company increased its full year 2025 Adjusted EBITDA guidance to $490 million - $510 million [19]