Filing Flows › Primoris Services (PRIM) › Q4 2025
Primoris Services (PRIM) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Primoris Services (PRIM) reported revenue of $1.9B for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and -15% from the quarter before. Operating margin was 4.2%, net earnings $51.7M (2.8% of revenue).
Primoris Services, Q4 2025: revenue $1.9B (+7% year over year), operating margin 4.2%, net earnings $51.7M, operating cash flow $143M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.9B | -15% | +7% |
| Gross profit | $175M | -26% | -5% |
| Operating profit | $77.5M | -43% | -11% |
| Net earnings | $51.7M | -45% | -4% |
| Operating cash flow | $143M | -22% | -52% |
| Free cash flow | $121M | -18% | -55% |
What changed
Revenue was $1.9B in Q4 2025, up 7% year over year and down 15% from the previous quarter.
Gross margin was 9.4%, down 1.2 points from a year earlier. Operating profit was $0.08B, a 4.2% margin (down 0.9 points year over year). Operating profit fell $0.01B even though revenue rose $0.12B versus a year earlier, so costs grew faster than sales. Operating expenses grew 0% against revenue growth of 7%. Net earnings were $0.05B, down 4% year over year. The effective tax rate was 28.1%.
Operating cash flow was $0.14B (down 52% year over year), 276% 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 added $0.06B. Capital expenditures of $0.02B left free cash flow of $0.12B.
Questions
What was Primoris Services' revenue in the fourth quarter 2025?
Primoris Services (PRIM) reported revenue of $1.9B for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and -15% from the quarter before.
Was Primoris Services profitable in the fourth quarter 2025?
Operating profit was $77.5M (4.2% of revenue) and net earnings $51.7M.
Source: Primoris Services 10-K on SEC EDGAR.