QUOTE AND NEWS
Benzinga  Sep 15  Comment 
In a report published Monday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating and $39.00 price target on Primoris Services Corp (NASDAQ: PRIM). In the report, Wunderlich Securities noted, “Primoris Services (PRIM)...
StreetInsider.com  Sep 4  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/Synalloy+Corp+%28SYNL%29%2C+Primoris+%28PRIM%29+Complete+Ram-Fab+Transaction/9805445.html for the full story.
Benzinga  Aug 8  Comment 
In a note released Friday morning, D.A. Davidson upgraded shares of Primoris Services (NASDAQ: PRIM) from Neutral to Buy and made a slight increase to the price target from $31 to $32. The note began by acknowledging Primoris Services' second...
SeekingAlpha  Aug 8  Comment 
Primoris Services (NASDAQ:PRIM) Q2 2014 Earnings Call August 07, 2014 11:30 am ET Executives Kate A. Tholking - Director of Investor Relations Brian Pratt - Chairman of The Board, Chief Executive Officer, President, Member of...
SeekingAlpha  Aug 7  Comment 
The following audio is from a conference call that will begin on August 07, 2014 at 11:30 AM ET. The audio will stream live while the call is active, and can be replayed upon its completion. Listen now Complete Story »
Market Intelligence Center  Jun 4  Comment 
Sprint Pipeline Services, a unit of the East Construction Services segment of Primoris Services Corporation (PRIM) has secured a new underground contract from an important midstream oil and gas customer worth $10 million. The deal covers pipeline...
SeekingAlpha  May 6  Comment 
Primoris Services (PRIM) Q1 2014 Earnings Call May 06, 2014 11:30 am ET Executives Kate A. Tholking - Director of Investor Relations Brian Pratt - Chairman of The Board, Chief Executive Officer, President, Member of Nominating &...
TheStreet.com  May 6  Comment 
NEW YORK (TheStreet) -- Shares of Primoris Services Corp. are up 2.12% to $28.00 on Tuesday after the company reported revenue and net income increased for the 2014 first quarter. The company said revenue increased 15% to $470 million from $409...
StreetInsider.com  Feb 28  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/Primoris+Services+Corp.+%28PRIM%29+Tops+Q4+EPS+by+5c/9229426.html for the full story.




 
TOP CONTRIBUTORS

Primoris Services (NASDAQ: PRIM) is a specialty contractor and infrastructure company that provides services in the construction, fabrication, maintenance, replacement, and water industries. Its primary customers include energy companies and government agencies. Although negatively impacted by the economic recession, Primoris has plans to capitalize on the growth of the renewable energy sector by increasing its focus on renewable energy infrastructure contracts.

Business Growth

The company's revenue growth is primarily driven by the nature and size of contracts it obtains. From 2009 to 2010, revenue growth has been fueled by large contracts such as the $128 million contract with Rockford (ROFO) related to the construction of a natural gas pipeline from Wyoming to Oregon.

Trends and Forces

Economic Recession Decreased Demand for PRIM's Services

As a result of the the economic recession, Primoris suffered a reduction in contract volume in all regions; hardest hit were California and Florida. The company quickly rebounded by acquiring James Construction and Rockford (ROFO) and diversifying its business geographically. Primoris also terminated operations in low-profit regions like Ecuador.

Growth of Renewable Energy Sector Impacts PRIM's Future Direction

Looking forward, Primoris plans to pay more attention to opportunities in the renewable energy sector while keeping its focus on its current strength: infrastructure. As the need for electric power grows, renewable energy industries such as solar power and alternative energy are expected to grow and require specialty contracts in construction and maintenance.

Competition

Primoris competes with companies that provide construction, engineering, and maintenance services; most similar are those competing for state and federal government contracts.

  • Mastech Holdings Inc (MHH) Mastech is an infrastructure construction company that focuses on the building and maintenance of energy, communication and utility infrastructure. Typical projects involve electrical utilities, wind farms, solar farms, and natural gas infrastructure.[1]
  • URS (URS) URS is a company that provides engineering and construction services for public agencies and private sector clients. Its three business segments are Infrastructure and Environment, Federal Services, and Energy and Construction. Going forward, Primoris may compete more with URS as Primoris shifts its focus towards renewable energy.[2]

References

  1. Hoover's MHH
  2. Hoover's URS



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