NYSE:PRIMConstruction
Primoris (PRIM) Stock Sinks As Renewables Missteps Crush Margins
Primoris Services came into this earnings release riding a mixed tape, with the stock up over the past week but down about 23% over the past three months. The immediate verdict was harsh. Shares dropped roughly 8% to about US$83 after a quarter that flipped from profit to loss, with basic earnings per share at a loss of US$0.45 on revenue of about US$1.7b.
For a construction and infrastructure contractor that many investors view as a steady compounder, that kind of margin and profit squeeze...