Infrastructure construction company Primoris (NYSE:PRIM) will be reporting results tomorrow after the bell. Here’s what to expect.
Primoris beat analysts’ revenue expectations by 8.8% last quarter, reporting revenues of $1.74 billion, up 14.9% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Primoris a buy or sell going into earnings? Read our full analysis here, it’s free .
This quarter, analysts are expecting Primoris’s revenue to grow 5.5% year on year to $1.49 billion, slowing from the 12.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.66 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Primoris has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 5.2% on average.
Looking at Primoris’s peers in the construction and maintenance services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Comfort Systems delivered year-on-year revenue growth of 19.1%, beating analysts’ expectations by 4.2%, and Orion reported revenues up 17.4%, topping estimates by 8.8%. Comfort Systems traded up 5.6% following the results while Orion’s stock price was unchanged.
Read our full analysis of Comfort Systems’s results here and Orion’s results here .
There has been positive sentiment among investors in the construction and maintenance services segment, with share prices up 13% on average over the last month. Primoris is up 23.6% during the same time and is heading into earnings with an average analyst price target of $84.45 (compared to the current share price of $66.17).
When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. .