Primoris Services Corporation published an edited transcript of its fourth-quarter and full-year 2025 earnings conference call and webcast held on February 24, 2026. The call was hosted by Vice President of Investor Relations Blake Holcomb and featured prepared remarks from President and CEO Koti Vadlamudi and CFO and Executive Vice President Kenneth Dodgen. Analysts on the line included Philip Shen (Roth Capital), Steven Fisher $(UBS)$, Julien Dumoulin-Smith (Jefferies), Lee Jagoda (CJS Securities), Sangita Jain (KeyBanc), Adam Thalhimer (Thompson Davis), Brent Thielman (DA Davidson), Adam Bubes (Goldman Sachs), Jerry Revich (Wells Fargo), Manish Somaiya (Cantor Fitzgerald) and Maheep Mandloi (Mizuho). Management highlighted record 2025 results, strong cash generation, and a record backlog of more than $11.9 billion, including nearly $3 billion of new awards in Q4. Vadlamudi said Primoris is seeing a step-change in demand driven by data centers, electrification and grid investment, noting, “We are now seeing projections that suggest power demand could grow by 50% over the next decade and potentially double over the next 15 years.” In Utilities, the company cited double-digit revenue and backlog growth, with strength in gas operations, power delivery and communications, while noting that lower storm work weighed on quarterly margins. In Energy, Primoris pointed to renewables growth and improving pipeline outlook, while addressing renewable project cost overruns tied to unexpected subsurface conditions. Dodgen said, “We believe that we’ve accounted for all of these increased costs and expect renewables margins to improve as we progress into 2026.” Vadlamudi added the company has increased oversight and leadership on the affected work and expects margin normalization. Primoris issued 2026 guidance calling for EPS of $5.35 to $5.55 (adjusted EPS of $5.80 to $6.00) and adjusted EBITDA of $560 million to $580 million, with Dodgen noting the outlook excludes potential storm-work benefits. The company also discussed capital allocation priorities, including organic investments and M&A, with Vadlamudi stating, “We will bias our lens and filter will be on looking for opportunities that are driven by high sustainable growth trajectory, as well as cultural fit to Primoris.” The full transcript can be accessed through the link below.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Primoris Services Corporation published the original content used to generate this news brief on February 25, 2026, and is solely responsible for the information contained therein.
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