Positive
Seeking Alpha
18 days ago
Primoris Services: Weak Quarter, But Forward Earnings Profile Still Looks Good
Primoris Services Corporation (PRIM) remains a buy despite a weak quarter, as operational issues in renewables are seen as fixable rather than structural. Utilities segment strength is evident, with 12.3% y/y revenue growth, expanding margins, and a growing, long-duration backlog anchored by major clients. PRIM trades at a significant discount to peers (22x NTM PE), with upside potential if market confidence in execution is restored.