Primoris Services (NYSE:PRIM) Full Year 2023 Results

Key Financial Results

• Revenue: US$5.72b (up 29% from FY 2022).
• Net income: US$126.1m (down 5.2% from FY 2022).
• Profit margin: 2.2% (down from 3.0% in FY 2022). The decrease in margin was driven by higher expenses.
• EPS: US$2.37 (down from US$2.50 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Primoris Services EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.7%.

Looking ahead, revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Construction industry in the US.

Performance of the American Construction industry.

The company's shares are down 3.0% from a week ago.

Risk Analysis

Before you take the next step you should know about the 2 warning signs for Primoris Services that we have uncovered.

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