Primoris Services Corporation Q3 Profit Increases, Beats Estimates

Primoris Services

112.00 EUR -1.75%

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(RTTNews) - Primoris Services Corporation (PRIM) reported a profit for its third quarter that Increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $94.62 million, or $1.73 per share. This compares with $58.44 million, or $1.07 per share, last year.

Excluding items, Primoris Services Corporation reported adjusted earnings of $103.10 million or $1.88 per share for the period.

Analysts on average had expected the company to earn $1.35 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 32.1% to $2.178 billion from $1.649 billion last year.

Primoris Services Corporation earnings at a glance (GAAP) :

-Earnings: $94.62 Mln. vs. $58.44 Mln. last year. -EPS: $1.73 vs. $1.07 last year. -Revenue: $2.178 Bln vs. $1.649 Bln last year.

-Guidance: Full year EPS guidance: $5.35 to $5.55