Primoris Services Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 04:16 pm EST
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Primoris Services Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 1,529.49 million compared to USD 1,284.13 million a year ago. Net income was USD 48.14 million compared to USD 43.04 million a year ago. Basic earnings per share from continuing operations was USD 0.9 compared to USD 0.81 a year ago. Diluted earnings per share from continuing operations was USD 0.89 compared to USD 0.8 a year ago.
For the nine months, sales was USD 4,199.76 million compared to USD 3,091.46 million a year ago. Net income was USD 88.49 million compared to USD 91.52 million a year ago. Basic earnings per share from continuing operations was USD 1.66 compared to USD 1.72 a year ago. Diluted earnings per share from continuing operations was USD 1.63 compared to USD 1.7 a year ago.
Primoris Services Corporation is engaged in providing of infrastructure services. The Company provides a range of construction, maintenance, replacement, fabrication, and engineering services to a diversified base of customers through its two segments: Utilities, and Energy. The Utilities segment offers services, including the installation and maintenance of new and existing natural gas and electric utility distribution and transmission systems, and communications systems. The Energy segment operates throughout the United States and Canada and specializes in a range of services that include engineering, procurement, construction, retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, pipeline construction and maintenance, pipeline integrity services, and maintenance services for entities in the renewable energy and energy storage, renewable fuels, and petroleum and petrochemical industries.