Last $25.91 USD
Change Today -0.15 / -0.58%
Volume 191.1K
PRIM On Other Exchanges
As of 8:10 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

primoris services corp (PRIM) Snapshot

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52 Week High
01/15/14 - $33.42
52 Week Low
07/30/13 - $20.29
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primoris services corp (PRIM) Details

Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services in the United States and internationally. It operates in three segments: the East Construction Services, the West Construction Services, and the Engineering. The company offers construction services, including installation of underground pipeline, cable, and conduits, as well as installation and maintenance of industrial facilities for petroleum, petrochemical, and water industries; installation and repair of gas distribution lines; installation of complex commercial and industrial cast-in-place structures; and construction of highways, as well as industrial and environmental constructions. It is also engaged in designing, supplying, and installing high-performance furnaces, heaters, burner management systems, and related combustion and process technologies for clients in the oil refining, petrochemical, and power generation industries, as well as furnishes turnkey project management services and delivers custom engineering solutions. The company serves public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation, and other customers. Primoris Services Corporation is headquartered in Dallas, Texas.

7,079 Employees
Last Reported Date: 03/3/14

primoris services corp (PRIM) Top Compensated Officers

Chairman of The Board, Chief Executive Office...
Total Annual Compensation: $850.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $608.6K
Co-President of Industrial for ARB Inc
Total Annual Compensation: $609.9K
Co-President of Underground for ARB Inc
Total Annual Compensation: $572.1K
Executive Vice President, General Counsel and...
Total Annual Compensation: $500.6K
Compensation as of Fiscal Year 2013.

primoris services corp (PRIM) Key Developments

Primoris Services Corporation Receives New Power Plant Award Valued at over $55 Million

Primoris Services Corporation announced a new award for a California power plant valued at over $55 million. The new contract was secured by the Industrial division of ARB Inc. Work will commence on the project in the third quarter of 2014 and is scheduled to be completed in the second quarter of 2016. The award is for the Glenarm Repowering Project and was unanimously approved by the Pasadena City Council. The contract consists of design, procurement and construction of a new, more efficient, cleaner generator at the existing power plant. Demolition of the 50-year-old GT-5 steam generator is included in the scope of work.

Primoris Services Wins $200 Million Contract from California Utility

Primoris Services announced that it has won a $200 million contract from a large Southern California utility customer. The contract was awarded to Primoris' underground division of ARB. It said the majority of the work is class upgrades, either hydrotesting to a higher pressure or replacing existing lines with newer, stronger pipes.

Primoris Services Corporation Board Approves Cash Dividend, Payable on or About July 15, 2014; Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014 ; Provides Capital Expenditure Guidance for the Full Year 2014

Primoris Services Corporation also announced that on May 2, 2014, its Board of Directors authorized payment of a $0.035 per share cash dividend to stockholders of record June 30, 2014, payable on or about July 15, 2014. The company announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported revenue of $470,074,000 against $409,995,000 a year ago. Operating income was $20,045,000 against $17,477,000 a year ago. Income before provision for income taxes was $18,355,000 against $16,247,000 a year ago. Net income was $11,265,000 against $10,040,000 a year ago. Net income attributable to the company was $10,833,000 against $9,770,000 a year ago. Diluted earnings per share were $0.21 against $0.19 a year ago. During the quarter, the company spent $15 million on CapEx, which is right at the total of depreciation, amortization, plus proceeds from equivalent sales for the quarter. For the full year 2014, the company expected net CapEx at a level of $55 million to $65 million. The company expected that the tax rate for the remainder of 2014 will be at the 39.6% level.


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