Primoris Services Posts Q4 Beat

Primoris Services reported financial results for Q4, with earnings and revenue that topped analysts’ expectations; it also said it declared a quarterly dividend and authorized a share repurchase program. The specialty contractor and infrastructure company posted adjusted earnings of $0.28 per share, compared with the prior-year period’s $0.24 per share. Analysts polled by Capital IQ were expecting EPS of $0.31.

Revenue was $601.9 million, up from $497.1 million in the same quarter last year. The Street view was for revenue of $540.8 million.

The company said that under the share repurchase program, it will acquire shares up to an aggregate purchase price of $5 million. The share repurchase program expires Dec. 31. Primoris added that its board declared a $0.055 per share cash dividend to stockholders of record on March 31, payable on or about April 15.

By Kristen Tardella