Primoris Services Corporation · NYSE:PRIM
Primoris Services — Q3 2026 Earnings Presentation
13 slides from Primoris Services's earnings presentation, Nov 4, 2026
Slide 1: Primoris Services Corporation 3Q 2026 Earnings
Primoris Services Corporation 3Q 2026 Earnings November 4, 2026
Slide 2: Notice to Investors
Notice to Investors This presentation contains forward-looking statements within the meaning of the federal securities laws. These statements give the current expectations of the Company’s management. Words such as “anticipates”, “believes”, “could”, “estimates”, “expects”, “intends”, “may”, “plans”
Slide 3: Q3 2026 Takeaways
Q3 2026 Takeaways Record total backlog of $14.1 billion, including $8.5 billion of total MSA backlog Strong Utilities segment margins driven by Power Delivery and Gas Operations PayneCrest revenue and backlog growth exceeding expectations Announced authorized share purchase program of $250 million 3
Slide 4: 3Q 2026 Financial Summary
3Q 2026 Financial Summary ($ millions, except per share amounts) 3Q 2026 3Q 2025 GAAP metrics Revenue $ 1,952.4 $ 2,178.4 Net income $ 51.3 $ 94.6 Diluted earnings per share $ 0.95 $ 1.73 Non-GAAP metrics Adjusted EBITDA $ 134.4 $ 168.7 Adjusted net income $ 64.9 $ 103.1 Adjusted earnings per share
Slide 5: Backlog Summary at 9/30/2026
Backlog Summary at 9/30/2026 Total Backlog by Segment Total Backlog ($M) $15,000 $13,856 $14,068 $11,945 $11,641 $12,000 $11,063 $5,704 $5,569 43% $4,986 $4,183 $9,000 $4,103 $6,000 57% $8,152 $8,499 $6,960 $6,959 $7,458 $3,000 $0 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Energy Utilities MSA Fixed •
Slide 6: 3Q 2026 vs. 3Q 2025 Segment Results
3Q 2026 vs. 3Q 2025 Segment Results $ in millions Corporate % of % of % of and non- 3Q 2026 Utilities Segment Energy Segment Consolidated Consolidated allocated Revenue Revenue Revenue costs Revenue $ 770.9 $ 1,223.8 $ (42.3) $ 1,952.4 Gross profit $ 100.2 13.0% $ 104.5 8.5% $ 204.7 10.5% Operating
Slide 7: Driving Revenue Predictability and Monitoring SG&A
Driving Revenue Predictability and Monitoring SG&A Annual Master Service Agreement Revenue SG&A Expense as % of Revenue $3.0 $2.8 $8.0 10.0% $7.6 $7.1 $2.5 $2.4 $2.3 $7.0 9.0% $6.4 $2.1 $2.0 $2.0 $6.0 $5.7 8.0% % of Revenue $1.6 $ Billions $5.0 $ Billions $1.5 $1.4 $4.4 7.0% 6.6% $4.0 $3.5 $3.5 $1.0
Slide 8: 2026 Guidance
2026 Guidance As of November 4, 2026 Full Year 2026 Earnings Per Share (“EPS”): Full Year Effective Tax Rate: ̶ $1.20 to $1.35 per diluted share ̶ Approximately 33% Full Year 2026 Adjusted EPS: Q4 2026 Capital Expenditures: ̶ $2.10 to $2.25 per diluted share ̶ $30 million to $40 million ̶ In
Slide 9: Reg G Reconciliation
Reg G Reconciliation P= Primoris
Slide 10: Reconciliation of Adjusted Net Income & Adjusted EPS 3Q 2026 vs. 3Q 2025
Schedule 1: Reconciliation of Adjusted Net Income & Adjusted EPS 3Q 2026 vs. 3Q 2025 Adjusted Net Income & Adjusted EPS Primoris defines Adjusted Net Income as net income (loss) adjusted for certain items including, (i) non‐cash stock‐based compensation expense; (ii) transaction/integration and rela
Slide 11: Reconciliation of EBITDA & Adjusted EBITDA 3Q 2026 vs. 3Q 2025
Schedule 2: Reconciliation of EBITDA & Adjusted EBITDA 3Q 2026 vs. 3Q 2025 EBITDA and Adjusted EBITDA Primoris defines EBITDA as net income (loss) before interest, income taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA adjusted for certain items including, (i) non‐cash sto
Slide 12: Reconciliation of Non-GAAP Forecasted Guidance Full Year 2026
Schedule 3: Reconciliation of Non-GAAP Forecasted Guidance Full Year 2026 Adjusted Net Income Forecast & EPS to Adjusted EPS for the year ending December 31, 2026 The following table sets forth a reconciliation of the forecasted GAAP net income to Adjusted Net Income and EPS to Adjusted EPS for the
Slide 13: Reconciliation of Non-GAAP Forecasted Guidance Full Year 2026
Schedule 4: Reconciliation of Non-GAAP Forecasted Guidance Full Year 2026 Adjusted EBITDA Forecast for the year ending December 31, 2026 The following table sets forth a reconciliation of the forecasted GAAP net income to EBITDA and Adjusted EBITDA for the year ending December 31, 2026. Estimated Ra