- Primoris Services (PRIM +2.5%) reported a decline of 3.8% Y/Y in revenues for Q4. Segments revenues: power, industrial, & engineering +31% Y/Y to $163.93M, pipeline & underground -195% Y/Y to $63.14M, utilities & distribution +18% Y/Y to $230.07M and civil +5% Y/Y to $122.86M.
- Decline in Q4 revenue is primarly due to decreased revenues from two Florida based large pipeline projects that were substantially completed in Q2 2017.
- Q4 overall operating margin declined 54 bps to 4.27%.
- Total backlog as on 31 December 2017 was $2.60B; fixed backlogs $1.82B and MSA backlog $775M.
- 2018 Guidance: Tax rate 28%, EPS $1.50-1.70.
- Previously: Primoris Services beats by $0.03, beats on revenue (Feb. 26)
- Previously: Primoris Services declares $0.06 dividend (Feb. 26)
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| Symbol | Last Price | % Chg |
|---|---|---|
| PRIM | - | - |
| Primoris Services Corporation | ||