Quarterly ResultMay 6, 2026, 06:07 AM
Primoris Services Q1 Revenue $1.56B, Net Income $17.4M
AI Summary
Primoris Services reported a significant decline in its first-quarter 2026 financial results. Revenue decreased by 5.35% to $1.56 billion, while net income plummeted by over 60% to $17.4 million. The company also reported negative cash flow from operating activities for the quarter, with a notable decrease in gross and operating profits.
Key Highlights
- Q1 2026 Revenue decreased 5.35% to $1,559.9 million from $1,648.1 million in Q1 2025.
- Q1 2026 Net Income fell 60.63% to $17.4 million from $44.2 million in Q1 2025.
- Basic EPS for Q1 2026 was $0.32, down from $0.82 in Q1 2025.
- Gross profit decreased 21.09% to $134.7 million in Q1 2026 from $170.7 million in Q1 2025.
- Operating income dropped 65.34% to $24.4 million in Q1 2026 from $70.4 million in Q1 2025.
- Net cash used in operating activities was $122.6 million in Q1 2026, compared to $66.2 million provided in Q1 2025.
- Utilities segment revenue increased to $632.9 million in Q1 2026 from $563.4 million in Q1 2025.
- Energy segment revenue decreased to $955.4 million in Q1 2026 from $1,108.3 million in Q1 2025.
Price Impact
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