5. Primoris Services Corporation (NYSE:PRIM)
Number of Hedge Fund Holders: 42
Primoris Services Corporation (NYSE:PRIM) is a leading specialty contractor providing construction, engineering, and maintenance services across various infrastructure markets in North America. The company operates in diverse sectors, including utilities, energy, transportation, and water infrastructure. PRIM plays a significant role in water-related projects, offering pipeline installation, water treatment facility construction and stormwater management solutions. Its expertise extends to large-scale civil and industrial projects, supporting municipal and private clients in developing resilient infrastructure.
Primoris Services Corporation (NYSE:PRIM) achieved its best year in company history for revenue, earnings, backlog and cash flow from operations in 2024. The company finished the year with $11.9 billion in total backlog, booking more than $7.7 billion of new work during the year, exceeding their goal by $1.2 billion or 18%. The company generated record cash flow from operations exceeding $500 million, marking a significant milestone. In the renewables business, revenue approached almost $2 billion in 2024, with approximately $3.1 billion in backlog at year-end.
Looking ahead to 2025, Primoris Services Corporation (NYSE:PRIM) expects earnings per fully diluted share to be between $3.70 and $3.90 and adjusted EPS between $4.20 and $4.40 per share, representing double-digit percent growth from 2024 at the midpoint. The company’s adjusted EBITDA guidance for 2025 is set at $440 million to $460 million. Management remains optimistic about continued growth, particularly in power delivery, renewables, and power generation markets, especially in Texas where they maintain a strong position. While there could be some inflationary pressure from tariffs, the company believes the market will adapt to meet the infrastructure demands of the growing North American economy.
