Primoris Services (PRIM) Misses Q1 EPS by 7c, Revenues Beat; Suspends FY20 Guidance

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Go back to Primoris Services (PRIM) Misses Q1 EPS by 7c, Revenues Beat; Suspends FY20 Guidance

Primoris Services Corporation Announces 2020 First Quarter Financial Results

May 5, 2020 6:30 AM EDT

Financial Highlights

2020 Q1 revenue of $743.2 million, compared to $661.6 million in 2019 Q12020 Q1 net loss attributable to Primoris of ($3.7 million), or ($0.08) per fully diluted share, compared to net income of $1.9 million, or $0.04 per fully diluted share, in 2019 Q1 2020 Q1 net loss included a pre-tax $5.0 million non-cash, unrealized loss on the change in fair value of the interest rate swap2020 Q1 SG&A 6.0% of revenue, compared to 2019 Q1 of 6.5% of revenueRecord Total Backlog of $3.2 billion at March 31,... More