Slide 1: PRIM Q3 2020 Earnings Call
a PRIM Q3 2020 Earnings Call November 6, 2020
Slide 2: Disclosure Regarding Forward-Looking Statements
Disclosure Regarding Forward‐Looking Statements This presentation contains certain forward‐looking statements that reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties, including with regard to the Company’s future performance. Forwa
Slide 3: 2020 Third Quarter Key Financial Items
2020 Third Quarter Key Financial Items Record Q3 revenue of $942.7 million Record Q3 net income of $43.9 million Record Q3 fully diluted earnings per share of $0.90 Q3 cash flow from operations of $130.8 million Backlog of $3.0 Billion* *In Q3 2020 Primoris removed $0.5B from Fixed Backlog related t
Slide 4: 2020 Third Quarter Summary
2020 Third Quarter Summary Revenue Net Income (in millions) (in millions) $942.7 $865.1 $43.9 $35.6 2020 Q1 2019 Q3 2020 Q3 2019 Q3 2020 Q3 Cash Flow from Operations Total Backlog* (in millions) $130.8 (in billions) $3.2 $3.0 $56.4 44% MSA 41% MSA 2019 Q3 2020 Q3 September 30, 2019 September 30, 202
Slide 5: Backlog Summary at 9/30/2020
Backlog Summary at 9/30/2020 Backlog Mix Total Backlog ($MMs) $3,500 $3,000 Civil 21% Power $2,500 $1,759 29% $2,000 $1,476 $1,760 $2,126 $1,824 $1,500 $1,517 Transmission $1,000 14% $1,284 $1,418 $1,214 $500 Pipeline $571 $672 $775 13% $‐ Utilities 2015 2016 2017 2018 2019 Q3 23% 2020 MSA Fixed *In
Slide 6: 2020 Q3 vs. 2019 Q3 Segment Results
2020 Q3 vs. 2019 Q3 Segment Results $ in thousands 3Q 2020 Power Pipeline Utilities Transmission Civil TOTAL Revenue $ 212,557 $ 214,380 $ 298,984 $ 114,221 $ 102,558 $ 942,700 Gross Profit $ 15,705 $ 28,045 $ 54,417 $ 13,718 $ 11,796 $ 123,681 Profit Margin 7.4% 13.1% 18.2% 12.0% 11.5% 13.1% 3Q 201
Slide 7: Growing Revenue While Controlling SG&A
Growing Revenue While Controlling SG&A 9.0% $4,000 8.0% 7.9% $3,500 7.2% 7.0% 7.0% $3,000 6.2% 6.1% 6.0% 6.0% $2,500 SG&A % of Revenue Revenue $MMs 5.0% $2,000 4.0% $1,500 3.0% $1,000 2.0% 1.0% $500 0.0% $‐ 2015 2016 2017 2018 2019 Q3 2020 LTM SG&A % of Revenue Revenue 7
Slide 8: Consistent Earnings Per Share Growth
Consistent Earnings Per Share Growth $2.00 $1.80 $1.61 $1.50 $1.40 2017 2018 2019 2020E *2017, 2018, and 2019 earnings per fully diluted share are actual. 2020E is guidance as of 11/5/20. 8
Slide 9: 2020 Third Quarter Key Takeaways
2020 Third Quarter Key Takeaways Primoris had an exceptional third quarter, with record growth in both revenue and earnings. Extremely strong cash flow and lower debt positions Primoris for organic growth and acquisitions. Transmission segment delivers 12% profit margins – focusing on more lucrative