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Mar 31, 2020
Primoris Q1 2020 Earnings Report
Primoris experienced revenue increase but net loss in Q1 2020.
Key Takeaways
Primoris Services Corporation reported a revenue increase of 12.3% to $743.2 million for Q1 2020 compared to $661.6 million in Q1 2019. However, the company reported a net loss attributable to Primoris of ($3.7 million), or ($0.08) per fully diluted share, compared to net income of $1.9 million, or $0.04 per fully diluted share, in Q1 2019. The company withdrew its earnings guidance for the year due to uncertainty around the timing of work and the potential long-term impacts of the oil crisis and COVID-19.
Q1 2020 revenue increased to $743.2 million from $661.6 million in Q1 2019.
Net loss attributable to Primoris was ($3.7 million), or ($0.08) per fully diluted share.
Total Backlog reached a record $3.2 billion at March 31, 2020.
The company withdrew its earnings guidance for the year due to the uncertainty.
Revenue by Segment
Forward Guidance
Due to the uncertainty surrounding the timing of the COVID-19 pandemic, Primoris is suspending its fiscal year 2020 guidance for net income attributable to Primoris.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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