Primoris Services Corporation Q2 Profit Increases, Beats Estimates

(RTTNews) - Primoris Services Corporation (PRIM) revealed a profit for its second quarter that Increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $84.3 million, or $1.54 per share. This compares with $49.5 million, or $0.91 per share, last year.

Excluding items, Primoris Services Corporation reported adjusted earnings of $92.2 million or $1.68 per share for the period.

Analysts on average had expected the company to earn $1.33 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 20.9% to $1.890 billion from $1.563 billion last year.

Primoris Services Corporation earnings at a glance (GAAP) :

-Earnings: $84.3 Mln. vs. $49.5 Mln. last year. -EPS: $1.54 vs. $0.91 last year. -Revenue: $1.890 Bln vs. $1.563 Bln last year.

-Guidance: Full year EPS guidance: $4.90 to $5.10