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Dec 31, 2019
Primoris Q4 2019 Earnings Report
Primoris' Q4 2019 earnings decreased compared to Q4 2018, but the company achieved its first fiscal year with revenue above $3 billion.
Key Takeaways
Primoris Services Corporation reported a decrease in revenue and net income for Q4 2019 compared to Q4 2018, with revenue at $789.8 million and net income at $26.9 million. Despite the decline, the company's total backlog remained strong at $3.2 billion, and cash flow was impressive, allowing for the completion of a $50 million share repurchase program.
Q4 2019 revenue was $789.8 million, down from $877.7 million in Q4 2018.
Net income for Q4 2019 was $26.9 million, compared to $32.4 million in Q4 2018.
Total backlog remained strong at $3.2 billion.
Completed a $50 million share repurchase program.
Primoris
Primoris
Primoris Revenue by Segment
Revenue by Segment
Utilities Segment Revenue
CapyFin.com Forward Guidance
For the fiscal year ending December 31, 2020, the Company estimates that net income attributable to Primoris is expected to be between $1.70 and $1.90 per fully diluted share.