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Jun 30, 2022
Primoris Q2 2022 Earnings Report
Primoris reported record revenues and increased total backlog, driven by strength in utility and energy/renewables segments.
Key Takeaways
Primoris Services Corporation announced record revenue of $1,022.9 million and a significant increase in total backlog to $4.572 billion, driven by the utility and energy/renewables segments. The company reported a net income of $50.2 million and EPS of $0.93. They also raised their estimates for the year ending December 31, 2022.
Record revenue of $1,022.9 million.
Net income of $50.2 million.
Record Backlog of $4.572 billion, an increase of 59 percent over prior year.
Gain of $40.1 million on property sale.
Primoris
Primoris
Forward Guidance
The Company is raising its estimates for the year ending December 31, 2022. Net income is expected to be between $2.40 and $2.60 per fully diluted share. Adjusted EPS is estimated in the range of $2.39 to $2.59 for 2022.