Primoris Services Corp

Primoris Services Corporation (NASDAQ: PRIM) is a leading provider of critical infrastructure services operating primarily in the United States and Canada. The company delivers a comprehensive range of construction, maintenance, replacement, and engineering services to a diversified customer base through two reportable segments: Utilities and Energy.

The Utilities segment specializes in the construction and maintenance of natural gas and electric utility distribution and transmission systems, as well as communications infrastructure throughout the United States. The Energy segment provides engineering, procurement, construction, and maintenance services for entities in the energy, renewable energy, energy storage, renewable fuels, and petroleum and petrochemical industries, as well as state departments of transportation across the United States and Canada. In 2025, revenue from Master Service Agreements represented 32.0% of total revenue, with the remainder generated from project-specific contracts.

The company maintains longstanding relationships with major energy and utility companies including Xcel Energy, Pacific Gas & Electric, Southern California Gas, Duke Energy, Williams, ExxonMobil, and Enterprise Pipeline, among others. Primoris employs approximately 18,526 personnel as of December 31, 2025, consisting of 3,055 salaried employees and 15,471 hourly employees, with approximately 30% of hourly workers covered by collective bargaining agreements.

Primoris operates through a business model emphasizing self-performance of work, ownership or long-term leasing of construction equipment, and maintenance of a stable workforce of skilled craft professionals. The company strategically bids projects to meet profitability objectives while minimizing customer concentration risk and labor market stress. The company's competitive advantages include a substantial owned and leased equipment fleet, experienced field supervision, strong safety performance with industry-leading safety metrics, and deep expertise in local markets.

The company's website is www.prim.com. Primoris maintains a strong balance sheet and conservative capital structure designed to provide access to debt financing while relying on operating cash flows to support operations and growth initiatives, whether organic or through acquisitions in attractive markets including renewable energy, electric transmission and distribution, and gas distribution.