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Primoris Services PRIM Share Buybacks

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Other financials

Income statement

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Revenue$1.7B-10.7%
Gross profit$82.4M-64.4%
Operating income-$26.8M-121%
Net income-$24.2M-129%
EPS (diluted)-$0.45-129%

Balance sheet

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Cash & equivalents$218.2M-44.1%
Total debt$1.3B+19.4%
Total equity$1.6B+4.7%
Total assets$4.6B+2.3%

Cash flow

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Operating cash flow-$8.7M-111%
CapEx$22.5M-32.0%
Free cash flow-$31.2M-169%

Valuation

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Market cap$4.93B-24.2%
Enterprise value$5.99B-16.0%
P/E35.3×+8.3×
P/S0.7×-0.3×

Profitability

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Gross margin8.6%-2.7pp
Operating margin2.9%-2.6pp
Net margin1.9%-1.6pp
FCF margin1.2%-6.0pp

Returns & leverage

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Return on equity8.9%-8.1pp
Debt / equity0.8×+0.1×
Current ratio1.2×0.0×

Where this comes from

Reported directly by Primoris Services in its filing.

Tagged under the XBRL concept us-gaap:PaymentsForRepurchaseOfCommonStock.

The source filing: Primoris Services’s 10-Q, filed November 8, 2023.

Filed
Nov 7, 2023, 5:44 PM EST
Fiscal quarter
Q3 FY2023
Calendar quarter
Q3 2023
Accession
0001558370-23-018043
Line itemNine Months Ended / September 30, 2023Nine Months Ended / September 30, 2022
Proceeds from issuance of common stock681596
Debt issuance costs(6,643)
Dividends paid(9,582)(9,583)
Purchase of common stock(5,990)
Other(5,067)(4,947)
Net cash (used in) provided by financing activities(60,023)515,352
Effect of exchange rate changes on cash, cash equivalents and restricted cash346(924)
Net change in cash, cash equivalents and restricted cash(92,445)(72,617)

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Primoris Services's share buybacks?
Primoris Services (PRIM) reported share buybacks of $2.62M in Q3 2022.
What does share buybacks mean?
Cash used to buy back the company's own shares on the open market or through structured programs, reducing shares outstanding.

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