Filing Flows › Primoris Services (PRIM) › Q1 2025
Primoris Services (PRIM) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
Primoris Services (PRIM) reported revenue of $1.6B for the first quarter 2025 (Q1 2025), +17% from a year earlier and -5% from the quarter before. Operating margin was 4.3%, net earnings $44.2M (2.7% of revenue).
Primoris Services, Q1 2025: revenue $1.6B (+17% year over year), operating margin 4.3%, net earnings $44.2M, operating cash flow $66.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | -5% | +17% |
| Gross profit | $171M | -8% | +28% |
| Operating profit | $70.4M | -20% | +59% |
| Net earnings | $44.2M | -18% | +133% |
| Operating cash flow | $66.2M | -78% | — |
| Free cash flow | $25.6M | -91% | — |
What changed
Revenue was $1.6B in Q1 2025, up 17% year over year and down 5% from the previous quarter.
Gross margin was 10.4%, up 0.9 points from a year earlier. Operating profit was $0.07B, a 4.3% margin (up 1.1 points year over year). Of the extra revenue versus a year earlier, 11% reached operating profit, above the 3% margin then. Operating expenses grew 12% against revenue growth of 17%. The fastest-growing cost line was Other operating costs (+39%). Net earnings were $0.04B, up 134% year over year. The effective tax rate was 29.1%.
Operating cash flow was $0.07B, 150% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $4.4M. Capital expenditures of $0.04B left free cash flow of $0.03B.
Questions
What was Primoris Services' revenue in the first quarter 2025?
Primoris Services (PRIM) reported revenue of $1.6B for the first quarter 2025 (Q1 2025), +17% from a year earlier and -5% from the quarter before.
Was Primoris Services profitable in the first quarter 2025?
Operating profit was $70.4M (4.3% of revenue) and net earnings $44.2M.
Source: Primoris Services 10-Q on SEC EDGAR.