Primoris Services Corp (PRIM) Q3 2025 10-Q Quarterly Report
Filed: Nov 4, 2025Period ending Sep 30, 2025
Industrials
Water, Sewer, Pipeline, Comm & Power Line ConstructionSEC EDGAR Primoris Services Corp (PRIM) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 4, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Primoris Services Corp Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $2,178.4M up 32.1% YoY ($1,649.1M in Q3 2024), driven by Energy and Utilities segments
- • Operating margin 6.3% vs 6.0% YoY; Utilities margin 7.5% down from 8.6%, Energy margin 7.3% flat YoY
- • Best segment Energy: revenue +47.0% to $1,485.7M, operating income +46.2% to $108.6M; worst Utilities: revenue +10.7% to $737.5M, operating income -3.7% to $55.1M
- • Cash from operations $327.5M YTD, up from $210.1M; capital expenditures $108.2M YTD; cash decreased slightly to $431.4M from $455.8M at year-end
- • Management expects liquidity sufficient for operations and capex; notes inflationary pressures partially offset by contract escalations, continues contract renegotiations
Risk Factors
- • No new or changed risk factors disclosed this quarter compared to most recent 10-K
- • Continued exposure to regulatory compliance risks associated with environmental and safety regulations in construction sector
- • Operational risk from project execution delays and cost overruns impacting near-term revenue recognition
- • Market competition risk due to aggressive pricing pressure in infrastructure services segment
- • Financial risk of credit facility availability and debt maturities impacting liquidity management
Primoris Services Corp Q3 2025 Quarterly FinancialsXBRL
Revenue
$2.2B
▲ +32.1% YoY▲ +15.2% QoQ
Net Income
$95M
▲ +61.9% YoY▲ +12.2% QoQ
Gross Margin
10.8%
▼ -122bp YoY▼ -144bp QoQ
Operating Margin
6.3%
▲ +25bp YoY▼ -41bp QoQ
Net Margin
4.3%
▲ +80bp YoY▼ -12bp QoQ
ROE
5.8%
Total Assets
$4.6B
EPS (Diluted)
$1.72
▲ +60.7% YoY▲ +11.7% QoQ
Operating Cash Flow
$183M
▼ -17.8% YoY▲ +133.1% QoQ
Source: XBRL data from Primoris Services Corp Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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