PRIM on NYSE

Primoris Services Corporation

Logo: Primoris Services Corporation, Public domain, via Wikimedia Commons4

American construction and infrastructure company

Primoris Services Corporation is a publicly traded specialty construction and infrastructure company based in the United States, with a particular focus on pipelines for natural gas, wastewater and water. In 2026, the company was ranked 497th in the Fortune 500.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

1960Founded1

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  • TickerPRIM on NYSE1
  • IndustryWater, Sewer, Pipeline, Comm & Power Line Construction1
  • HeadquartersDallas1
  • Websitewww.prim.com
  • Legal formDelaware corporation1
  • Incorporated inDE5
  • Business address2300 N. Field Street, Suite 1900, Dallas, Tx 752015
  • Filer categoryLarge accelerated filer5

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Primoris Services Corporation is a publicly traded specialty construction and infrastructure company based in the United States, with a particular focus on pipelines for natural gas, wastewater and water. In 2026, the company was ranked 497th in the Fortune 500.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

10.7%Gross margin7
5.4%Operating margin7
3.6%Net margin7
19.0%Revenue growth, 20257
16.4%Return on equity7
0.24×Debt to equity7
$340.5MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Energy brought in 65% of the revenue Primoris Services Corporation broke down this way in fiscal 2025.

  1. Energy$5.0B765%up 24% from 2024
  2. U And D$2.7B735%up 10% from 2024
Business segments by year
Business segments202320242025
Energy$3.3B$4.0B$5.0B
U And D$2.4B$2.4B$2.7B

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue90¢$6.8B
  • Selling, general and admin5¢$399.2M
  • Income tax1¢$109.1M
  • Profit4¢$274.9M

Out of $7.6B in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Capital spending28¢$129.9M
  • Dividends paid4¢$17.3M
  • Kept or used elsewhere69¢$323.2M

Out of $470.4M of cash from operations.7

Financial statements

Revenue8910117$7.6B in 2025+144% since 2019
0$2.0B$4.0B$6.0B$8.0B2019: $3.1B$3.1B20192020: $3.5B$3.5B2020+12%2021: $3.5B$3.5B2021+0%2022: $4.4B$4.4B2022+26%2023: $5.7B$5.7B2023+29%2024: $6.4B$6.4B2024+11%2025: $7.6B$7.6B2025+19%
Gross profit8910117$813.1M in 2025+146% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $330.9M$330.9M20192020: $370.2M$370.2M2020+12%2021: $416.7M$416.7M2021+13%2022: $456.9M$456.9M2022+10%2023: $587.5M$587.5M2023+29%2024: $703.2M$703.2M2024+20%2025: $813.1M$813.1M2025+16%
Operating income8910117$411.5M in 2025+192% since 2019
0$200.0M$400.0M$600.0M2019: $140.9M$140.9M20192020: $163.9M$163.9M2020+16%2021: $170.2M$170.2M2021+4%2022: $195.3M$195.3M2022+15%2023: $253.1M$253.1M2023+30%2024: $317.4M$317.4M2024+25%2025: $411.5M$411.5M2025+30%
Net income8910117$274.9M in 2025+234% since 2019
0$100.0M$200.0M$300.0M2019: $82.3M$82.3M20192020: $105.0M$105.0M2020+28%2021: $115.7M$115.7M2021+10%2022: $133.0M$133.0M2022+15%2023: $126.1M$126.1M2023−5%2024: $180.9M$180.9M2024+43%2025: $274.9M$274.9M2025+52%

Every line of the income statement as filed: the last 3 fiscal years (annual) or 8 quarters (quarterly), latest first.7

Period ending2025-12-312024-12-312023-12-31
Revenue$7.6B$6.4B$5.7B
Cost of revenue$6.8B$5.7B$5.1B
Gross profit$813.1M$703.2M$587.5M
Selling, general and administrative expenses$399.2M$383.3M$328.7M
Transaction and related costs$2.4M$2.5M$5.7M
Operating income$411.5M$317.4M$253.1M
Foreign exchange (loss) gain, net-$100.0K$2.7M$1.1M
Other income, net$1.3M$100.0K$1.6M
Interest expense, net-$28.7M-$65.3M-$78.2M
Income before provision for income taxes$384.0M$254.9M$177.6M
Provision for income taxes-$109.1M-$74.0M-$51.5M
Net income$274.9M$180.9M$126.1M
Dividends per common share (in dollars per share)$0.32$0.26$0.24
Basic (in dollars per share)$5.09$3.37$2.37
Diluted (in dollars per share)$5.02$3.31$2.33
Basic (in shares)54.0M shares53.6M shares53.3M shares
Diluted (in shares)54.8M shares54.6M shares54.2M shares

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The story

The company was founded as ARB, Inc. in Bakersfield, California in 1960, Primoris was founded in 2004, in Nevada, as the parent company. In 2008, it was incorporated as a public company in Delaware. In 2014, it became a Fortune 1000 company.

On June 22, 2026, the company announced a major reduction to its financial forecast, which resulted in a $29.2% decline in its stock value, and multiple investigations by law firms. It also announced the departure of its COO.

From Wikipedia’s article on Primoris Services Corporation, shared under CC BY-SA 4.0.6

Leadership

Who has led Primoris Services Corporation, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Eric Rosenfeld2006–2008
  2. Brian Pratt2008–2015
  3. David Lee King2016–2020
  4. Thomas Edward McCormick2020–2025
  5. Koti Vadlamudi2025–now

Chair

  1. Brian Pratt2008–2015

President

  1. Eric Rosenfeld2006–2008
  2. Brian Pratt2008–2015
  3. Thomas Edward McCormick2019–2025
  4. David Lee King2025
  5. Koti Vadlamudi2025–now

Chief financial officer

  1. David Sgro2006–2008
  2. John Schauerman2008
  3. Peter J. Moerbeek2009–2018
  4. Kenneth Morris Dodgen2019–2026
  5. Travis L. Stricker2026–now

Chief operating officer

  1. David Lee King2014–2015
  2. Thomas Edward McCormick2017–2018
  3. Jeremy Kinch2025–now
197019801990200020102020
Board members and other officers (26)

Acquisitions

The company has expanded significantly through acquisitions, including:

James Construction Group LLC in 2009.

Rockford Corporation in 2010 for $82.6 million. Subsequently worked on the pipeline and underground unit of the Atlantic Coast Pipeline.

Sprint Pipeline Services, L.P. in 2012.

Read the full text

Q3 Contracting Inc., a gas pipeline service, in 2012 for $48.1 million in cash.

Coastal Field Services, a Beaumont, Texas pipeline and maintenance contractor, in 2017.

PLH Group, an Irving, Texas construction, maintenance and engineering services contractor, valued at $470 million, in 2022.

PayneCrest Electric, a St. Louis, Missouri electrical design, construction and maintenance company, for $422 million, in 2026.

From Wikipedia’s article on Primoris Services Corporation, shared under CC BY-SA 4.0.6

Former names

  • Primoris Services CORPMar 16, 2011 to Oct 7, 20265
  • Rhapsody Acquisition Corp.Jun 2, 2006 to Aug 15, 20085

Timeline

  1. Nov 20, 2025New chief executive Koti Vadlamudi becomes CEO15
  2. Jan 3, 2020New chief executive Thomas Edward McCormick becomes CEO16
  3. Mar 11, 2016New chief executive David Lee King becomes CEO17
  4. Aug 11, 2008New chief executive Brian Pratt becomes CEO18
  5. Oct 3, 2006New chief executive Eric Rosenfeld becomes CEO19
  6. 1960Founded Founded1

Filings

445 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 41 major events, 271 insider forms, 28 large holders, 85 other. The latest 20:

  1. Oct 7, 20263 EDGAR
  2. Oct 7, 20263 EDGAR
  3. Sep 2, 20264 EDGAR
  4. Aug 31, 20268-K EDGAR
  5. Aug 14, 2026SCHEDULE 13G/A EDGAR
  6. Aug 13, 2026SCHEDULE 13G EDGAR
  7. Aug 12, 20264 EDGAR
  8. Aug 6, 20268-K/A EDGAR
  9. Aug 5, 20268-K/A EDGAR
  10. Aug 5, 202610-Q EDGAR
  11. Aug 4, 20268-K EDGAR
  12. Jul 31, 2026SCHEDULE 13G/A EDGAR
  13. Jul 31, 20264 EDGAR
  14. Jul 31, 20264 EDGAR
  15. Jul 31, 20264 EDGAR
  16. Jul 31, 20264 EDGAR
  17. Jul 31, 20264 EDGAR
  18. Jul 31, 20264 EDGAR
  19. Jul 31, 20264 EDGAR
  20. Jul 29, 2026SCHEDULE 13G/A EDGAR

The 445 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 28 such filings since October 2021, the latest 10:

  1. Aug 14, 2026SCHEDULE 13G/A
  2. Aug 13, 2026SCHEDULE 13G
  3. Jul 31, 2026SCHEDULE 13G/A
  4. Jul 29, 2026SCHEDULE 13G/A
  5. Apr 30, 2026SCHEDULE 13G
  6. Apr 29, 2026SCHEDULE 13G
  7. Apr 27, 2026SCHEDULE 13G
  8. Mar 27, 2026SCHEDULE 13G/A
  9. Jan 8, 2026SCHEDULE 13G/A
  10. Oct 9, 2025SCHEDULE 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.6,837,017$677.7M0.0%−1,503,643
Wellington Management Group Llp4,675,487$463.4M0.1%+2,795,887
Vanguard Portfolio Management LLC3,123,356$309.6M0.0%−530,560
Vanguard Capital Management LLC2,355,491$233.5M0.0%+19,743
First Trust Advisors LP2,234,728$221.5M0.1%−651,435
State Street Corp1,814,143$180.0M0.0%−249,388
Millennium Management LLC1,492,740$148.0M0.1%+1,091,936
Southpoint Capital Advisors LP1,400,000$138.8M3.2%New
Morgan Stanley1,284,470$127.3M0.0%+728,723
Dimensional Fund Advisors LP1,184,542$117.4M0.0%+25,421
Geode Capital Management, LLC1,098,315$108.9M0.0%−357,866
American Century Companies Inc884,645$87.7M0.0%−193,479
Point72 Asset Management, L.P.876,484$86.9M0.1%New
Nordea Investment Management Ab887,332$86.2M0.1%+831,230
Invesco Ltd.847,692$84.0M0.0%−549,055
Westfield Capital Management Co LP737,493$73.1M0.2%−5,776
Fmr LLC637,265$63.2M0.0%−68,727
Charles Schwab Investment Management Inc554,587$55.0M0.0%−128,996
UBS Group AG544,654$54.0M0.0%−50,920
Norges Bank517,320$51.3M0.0%New
Frontier Capital Management Co LLC468,762$46.5M0.4%New
Nuveen, LLC462,954$45.9M0.0%+188,873
Madison Avenue Partners, LP462,058$45.8M2.0%New
Mackenzie Financial Corp461,847$45.8M0.0%+154,583
Federated Hermes, Inc.445,283$44.1M0.1%+30,112

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

13 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
May 8, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseSale$1,001 - $15,000+34.3%Report
Mar 3, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−63.3%Report
Feb 18, 2026Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$1,001 - $15,000+66.5%Report
Dec 11, 2025Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$1,001 - $15,000+58.2%Report
Nov 24, 2025Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$1,001 - $15,000+55.7%Report
Nov 6, 2025Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$1,001 - $15,000+56.9%Report
Dec 6, 2024Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+37.7%Report
Jun 27, 2024Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000−2.8%Report
Jun 21, 2024Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+4.1%Report
Oct 27, 2023Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000−65.0%Report
Sep 15, 2020Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000−186.3%Report
Jan 10, 2020Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+106.9%Report
Dec 10, 2019Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000−85.3%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

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