Primoris Services (PRIM) Investor presentation summary

Investment rationale and market positioning

• Leading provider of critical infrastructure services with a balanced project portfolio reducing risk and increasing predictability.

• Well-positioned in renewables, natural gas generation, and power delivery markets, benefiting from strong secular tailwinds.

• Diversified service offerings and deep customer relationships support recurring revenue.

• Experienced management team focused on disciplined capital allocation and execution.

Segment performance and revenue breakdown

• Utilities segment TTM Q1'26 sales reached $2.44B with a backlog of $6.9B, driven by electrification and communications network buildout.

• Energy segment TTM Q1'26 sales were $3.35B with a backlog of $4.74B, supported by solar EPC, industrial construction, and pipeline services.

• Commercial, industrial/power/renewables, and data center end markets contribute 15%, 45%, and 40% of revenue, respectively.

Growth strategy and operational focus

• Strategy targets 9–12% gross profit CAGR through 2026 by prioritizing profitability and capital allocation to renewables and power delivery.

• Operational improvements and selective project bidding aim to expand margins and generate cash flow.

• Multi-year contracts and master service agreements provide revenue stability and visibility, with 86% of revenue from reimbursable contracts.