Primoris Services Corporation Receives Projects Valued Over $800 Million

Dec 07, 2023

PDF Version

Dallas, TX – December 7, 2023 – Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”) announced today it received several awards with a combined value over $800 million secured by the Company’s Energy Segment, including more than $300 million for engineering, procurement and construction of utility-scale solar projects.

“We continue to realize opportunities in our solar and industrial end markets based on long-standing customer relationships as well as the reputation and expertise of our project teams’ capabilities to successfully execute on clients’ projects,” said Tom McCormick, President and Chief Executive Officer of Primoris. “These awards add to our already record 2023 in winning new work and include a mix of projects such as upgrades to natural gas facilities, renewable fuels production and solar power generation for both new and existing customers. I want to applaud our teams’ diligence in securing these awards that extend our backlog into 2026.”

The projects are scheduled to begin engineering and mobilization the fourth quarter of 2023 and early 2024.

About Primoris

Primoris Services Corporation is a premier specialty contractor providing critical infrastructure services to the utility, energy, and renewables markets throughout the United States and Canada. Built on a foundation of trust, we deliver a range of engineering, construction, and maintenance services that power, connect, and enhance society. On projects spanning utility-scale solar, renewables, power delivery, communications, and transportation infrastructure, we offer unmatched value to our clients, a safe and entrepreneurial culture to our employees, and innovation and excellence to our communities. To learn more, visit prim.com and follow us on social media at @PrimorisServicesCorporation.

Forward Looking Statements

This press release contains certain forward-looking statements, including the Company’s outlook, that reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties, including statements regarding the expected benefits and impact of the move from Nasdaq to the NYSE. Actual events and results may differ materially from those expressed in the forward-looking statements. For information on certain factors that could cause actual events or results to differ materially from our expectations, please see Part I, Item 1A “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, and the Company’s other filings with the U.S. Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements. Primoris does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Blake Holcomb

Vice President, Investor Relations

214-545-6773

[email protected]

Source: Primoris Services Corporation