Primoris Services Corporation Receives Project Awards Valued at Approximately $1.2 Billion
July 16 2024 - 4:10PM
Business Wire
Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the
“Company”) today announced several awards with a combined value
of approximately $1.2 billion secured by the Company’s Energy
Segment. The awards include nearly $700 million contracted in the
second quarter of 2024 and more than $500 million booked early in
the third quarter of 2024. The projects consist of $1.1 billion for
the engineering, procurement and construction of utility-scale
solar projects and around $100 million for the expansion of
multiple combustion gas turbine generators.
“We continue to see strong demand in our utility-scale solar and
natural gas generation solutions driven by a growing need for power
generation and the strength of our customer relationships that
value our track record of safely and successfully executing their
projects,” said Tom McCormick, President and Chief Executive
Officer of Primoris. “The solar awards, which include approximately
800 MWh of battery energy storage systems, demonstrate progress
toward our strategic goal to expand our solar service offering and
provide a comprehensive solution for our clients.”
The projects are scheduled to begin mobilization in the second
half of 2024 through the second quarter of 2025.
About Primoris
Primoris Services Corporation is a premier specialty contractor
providing critical infrastructure services to the utility, energy,
and renewables markets throughout the United States and Canada.
Built on a foundation of trust, we deliver a range of engineering,
construction, and maintenance services that power, connect, and
enhance society. On projects spanning utility-scale solar,
renewables, power delivery, communications, and transportation
infrastructure, we offer unmatched value to our clients, a safe and
entrepreneurial culture to our employees, and innovation and
excellence to our communities. To learn more, visit www.prim.com
and follow us on social media at @PrimorisServicesCorporation.
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements
that reflect, when made, the Company’s expectations or beliefs
concerning future events that involve risks and uncertainties,
including the Company’s future performance. Forward-looking
statements include all statements that are not historical facts and
can be identified by terms such as “anticipates”, “believes”,
“could”, “estimates”, “expects”, “intends”, “may”, “plans”,
“potential”, “predicts”, “projects”, “should”, “will”, “would” or
similar expressions. Forward-looking statements include information
concerning our possible or assumed future results of operations,
business strategies, financing plans, competitive position,
industry environment, potential growth opportunities, the effects
of regulation and the economy, generally. Forward-looking
statements inherently involve known and unknown risks,
uncertainties, and other factors, which may cause our actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Actual results may
differ materially as a result of a number of factors, including,
among other things, the risks described in Part I, Item 1A “Risk
Factors” of our Annual Report on Form 10-K for the year ended
December 31, 2023, and our other filings with the U.S. Securities
and Exchange Commission (“SEC”). Such filings are available on the
SEC’s website at www.sec.gov. Given these risks and uncertainties,
you should not place undue reliance on forward-looking statements.
Primoris does not undertake any obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
under applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20240716827058/en/
Blake Holcomb Vice President, Investor Relations 214-545-6773
bholcomb@prim.com
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