Primoris Services (PRIM) Misses Q4 EPS by 3c

Primoris Services (NASDAQ: PRIM) reported Q4 EPS of $0.28, $0.03 worse than the analyst estimate of $0.31. Revenue for the quarter came in at $601.9 million versus the consensus estimate of $542.42 million.

• 2016 Q4 revenues of $601.9 million, compared to 2015 Q4 revenues of $497.1 million
• 2016 Q4 net income attributable to Primoris of $14.5 million, compared to 2015 Q4 net income attributable to Primoris of $12.6 million
• 2016 revenues of $1,996.9 million, compared to 2015 revenues of $1,929.4 million
• 2016 net income attributable to Primoris of $26.7 million, compared to 2015 net income attributable to Primoris of $36.9 million
• A total backlog of $2.80 billion at December 31, 2016
  • A 34% increase over 2015's year-end total backlog and
  • A 4% sequential quarterly increase over third quarter 2016's total backlog
• A cash balance of $135.8 million at December 31, 2016
• A record tangible net worth of $337.3 million at December 31, 2016, a 5% increase over tangible net worth at December 31, 2015.

For earnings history and earnings-related data on Primoris Services (PRIM) click here.

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