Primoris Services Q2 Profit Up, Beats Estimates - Quick Facts

(RTTNews) - Primoris Services Corporation(PRIM), a specialty contractor and infrastructure company, Wednesday reported an increase in net income for the second-quarter, influenced by higher revenues, with contributions from its legacy businesses and recent acquisitions. Earnings per share surpassed the consensus estimates. Net income attributable to Primoris increased 33.3 percent to $15.6 million or $0.30 per share, from $11.7 million or $0.23 per share during the same quarter last year.

On average, eight analysts polled by Thomson Reuters expected earnings of $0.29 per share for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the three-month period increased 31.9 percent to $445 million from $337.4 million during the corresponding quarter last year. Analysts expected the company to generate revenues of $451.20 million.

The Board approved a dividend of $0.035 per share on August 2, payable on or about October 15 to shareholders of record on September 30.