In the Q2, Primoris Services Corporation's corporate clients experienced a drop by -73.76 % in their costs of revenue, compared to a year ago, sequentially costs of revenue were trimmed by -75.12 %. During the corresponding time, Primoris Services Corporation saw a revenue deteriorated by -10.71 % year on year, sequentially revenue grew by 8.24 %. While revenue at the Primoris Services Corporation's corporate clients recorded rose by 7.16 % year on year, sequentially revenue grew by 3.72 %.
Customers of Primoris Services Corporation saw their costs of revenue drop by -73.76 % in Q2 compare to a year ago, sequentially costs of revenue were trimmed by -75.12 %, for the same period Primoris Services Corporation revnue deteriorated by -10.71 % year on year, sequentially revenue grew by 8.24 %.
Primoris Services's Comment on Sales, Marketing and Customers
The company operates through two segments: Utilities and Energy. The Utilities segment, based in the U.S., focuses on the construction and maintenance of natural gas and electric utility distribution and transmission systems, as well as communications systems. The Energy segment serves clients in the U.S. and Canada, providing engineering, procurement, construction, and maintenance services for the energy, renewable energy and energy storage, renewable fuels, petroleum, petrochemical industries, and state departments of transportation. The company maintains longstanding relationships with solar facility developers, power producers, gas and electric utilities, refining, petrochemical, communications, midstream, downstream, engineering companies, and transportation agencies. Services are delivered under Master Service Agreements (MSAs) and specific project contracts. The company pursues growth through controlled expansion, increasing MSA revenue, retaining and expanding project work, owning or leasing equipment long-term, and sustaining a stable workforce of skilled craft professionals.
News about Primoris Services Corporation Contracts
Primoris Services Corporation Thrives with $800 Million Worth of Projects in the Energy Sector Primoris Services Corporation (NYSE: PRIM) has recently secured several awards totaling over $800 million for projects in its Energy Segment. This includes a substantial amount of over $300 million for the engineering, procurement, and construction of utility-scale solar projects. The company attributes these opportunities to its strong customer relationships, renowned reputation, and expertise in the industry. Despite challenges faced by corporate clients in terms of increasing costs of revenue, Primoris Services Corporation has managed to achieve impressive growth in its top-line. In the third quarter, th...
Primoris Services’s Comment on Sales, Marketing and Customers
The company operates through two segments: Utilities and Energy. The Utilities segment, based in the U.S., focuses on the construction and maintenance of natural gas and electric utility distribution and transmission systems, as well as communications systems. The Energy segment serves clients in the U.S. and Canada, providing engineering, procurement, construction, and maintenance services for the energy, renewable energy and energy storage, renewable fuels, petroleum, petrochemical industries, and state departments of transportation. The company maintains longstanding relationships with solar facility developers, power producers, gas and electric utilities, refining, petrochemical, communications, midstream, downstream, engineering companies, and transportation agencies. Services are delivered under Master Service Agreements (MSAs) and specific project contracts. The company pursues growth through controlled expansion, increasing MSA revenue, retaining and expanding project work, owning or leasing equipment long-term, and sustaining a stable workforce of skilled craft professionals.
Sources:
Primoris Services Corporation’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
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