$PRIM
Primoris Services Corp

2024 Q4 Form 10-Q Financial Statement

#000155837024014294 Filed on November 05, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $1.649B
YoY Change 7.82%
Cost Of Revenue $1.451B
YoY Change 7.0%
Gross Profit $198.6M
YoY Change 14.18%
Gross Profit Margin 12.04%
Selling, General & Admin $98.11M
YoY Change 16.23%
% of Gross Profit 49.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.67M
YoY Change -15.08%
% of Gross Profit 11.42%
Operating Expenses $98.11M
YoY Change 16.23%
Operating Profit $99.55M
YoY Change 12.6%
Interest Expense -$17.86M
YoY Change -15.22%
% of Operating Profit -17.94%
Other Income/Expense, Net $61.00K
YoY Change -86.94%
Pretax Income $82.31M
YoY Change 21.38%
Income Tax $23.87M
% Of Pretax Income 29.0%
Net Earnings $58.44M
YoY Change 21.38%
Net Earnings / Revenue 3.54%
Basic Earnings Per Share $1.09
Diluted Earnings Per Share $1.07
COMMON SHARES
Basic Shares Outstanding 53.71M 53.67M
Diluted Shares Outstanding 54.68M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $352.7M
YoY Change 119.4%
Cash & Equivalents $352.7M
Short-Term Investments
Other Short-Term Assets $123.0M
YoY Change -8.9%
Inventory
Prepaid Expenses
Receivables $1.747B
Other Receivables $0.00
Total Short-Term Assets $2.223B
YoY Change 17.52%
LONG-TERM ASSETS
Property, Plant & Equipment $484.4M
YoY Change -1.02%
Goodwill $857.7M
YoY Change 0.0%
Intangibles $212.6M
YoY Change -8.68%
Long-Term Investments
YoY Change
Other Assets $15.52M
YoY Change -35.63%
Total Long-Term Assets $2.018B
YoY Change 5.53%
TOTAL ASSETS
Total Short-Term Assets $2.223B
Total Long-Term Assets $2.018B
Total Assets $4.240B
YoY Change 11.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $489.1M
YoY Change -2.21%
Accrued Expenses $386.3M
YoY Change 20.09%
Deferred Revenue $657.1M
YoY Change 69.46%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $76.75M
YoY Change -9.95%
Total Short-Term Liabilities $1.612B
YoY Change 24.23%
LONG-TERM LIABILITIES
Long-Term Debt $827.0M
YoY Change -18.4%
Other Long-Term Liabilities $56.12M
YoY Change 30.06%
Total Long-Term Liabilities $883.1M
YoY Change -16.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.612B
Total Long-Term Liabilities $883.1M
Total Liabilities $2.882B
YoY Change 10.59%
SHAREHOLDERS EQUITY
Retained Earnings $1.078B
YoY Change 16.37%
Common Stock $281.6M
YoY Change 3.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.358B
YoY Change
Total Liabilities & Shareholders Equity $4.240B
YoY Change 11.49%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $58.44M
YoY Change 21.38%
Depreciation, Depletion And Amortization $22.67M
YoY Change -15.08%
Cash From Operating Activities $222.5M
YoY Change 201.89%
INVESTING ACTIVITIES
Capital Expenditures $63.70M
YoY Change 58.82%
Acquisitions
YoY Change
Other Investing Activities $23.52M
YoY Change -2.48%
Cash From Investing Activities -$40.18M
YoY Change 151.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -34.92M
YoY Change 84.66%
NET CHANGE
Cash From Operating Activities 222.5M
Cash From Investing Activities -40.18M
Cash From Financing Activities -34.92M
Net Change In Cash 147.3M
YoY Change 279.94%
FREE CASH FLOW
Cash From Operating Activities $222.5M
Capital Expenditures $63.70M
Free Cash Flow $158.8M
YoY Change 372.79%

Facts In Submission

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DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
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us-gaap Share Based Compensation
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GainLossOnSaleOfPropertyPlantEquipment
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us-gaap Gain Loss On Sale Of Property Plant Equipment
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us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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prim Increase Decrease In Operating Lease Assets And Liabilities
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prim Increase Decrease In Operating Lease Assets And Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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ProceedsFromSaleOfPropertyPlantAndEquipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Long Term Debt
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PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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CY2024Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
3223000
CY2023Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
3203000
us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Note 1—Nature of Business</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Organization and operations</span><b style="font-weight:bold;"> — </b>Primoris Services Corporation is one of the leading providers of infrastructure services operating mainly in the United States and Canada. We provide a wide range of construction, maintenance, replacement, fabrication and engineering services to a diversified base of customers through our two segments. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">We have longstanding customer relationships with utility, refining, petrochemical, power, midstream, and engineering companies, and state departments of transportation. We provide our services to a diversified base of customers, under a range of contracting options. A portion of our services are provided under Master Service Agreements (“MSA”), which are generally multi-year agreements. The remainder of our services are generated from contracts for specific construction or installation projects.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">We are incorporated in the State of Delaware, and our corporate headquarters are located at 2300 N. Field Street, Suite 1900, Dallas, Texas 75201. Unless specifically noted otherwise, as used throughout these consolidated financial statements, “Primoris”, “the Company”, “we”, “our”, “us” or “its” refers to the business, operations and financial results of the Company and its wholly-owned subsidiaries.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Reportable Segments </span>— Our current reportable segments are the Utilities segment and the Energy segment. See Note 14 – “<i style="font-style:italic;">Reportable Segments</i>” for a brief description of the reportable segments and their operations.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">The classification of revenue and gross profit for segment reporting purposes can at times require judgment on the part of management. Our segments may perform services across industries or perform joint services for customers in multiple industries. To determine reportable segment gross profit, certain allocations, including allocations of shared and indirect costs, such as facility costs, equipment costs and indirect operating expenses, were made.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
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CashAndCashEquivalentsAtCarryingValue
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CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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RestrictedCash
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CY2023Q3 us-gaap Restricted Cash
RestrictedCash
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CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2023Q4 us-gaap Restricted Cash
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CY2022Q4 us-gaap Restricted Cash
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
223542000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
258991000
CY2024Q3 prim Accounts Receivable Securitization Term
AccountsReceivableSecuritizationTerm
P2Y
CY2024Q3 prim Accounts Receivable Securitization Fee
AccountsReceivableSecuritizationFee
1300000
prim Accounts Receivable Securitization Fee
AccountsReceivableSecuritizationFee
4000000.0
prim Accounts Receivable Securitization Fee
AccountsReceivableSecuritizationFee
500000
CY2023Q3 prim Accounts Receivable Securitization Fee
AccountsReceivableSecuritizationFee
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us-gaap Accounts Receivable Sale
AccountsReceivableSale
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prim Proceeds From Accounts Receivable Securitization Operating Activities
ProceedsFromAccountsReceivableSecuritizationOperatingActivities
10000000.0
prim Proceeds From Accounts Receivable Securitization Operating Activities
ProceedsFromAccountsReceivableSecuritizationOperatingActivities
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prim Repayment Of Accounts Receivable Securitization Operating Activities
RepaymentOfAccountsReceivableSecuritizationOperatingActivities
10000000.0
prim Repayment Of Accounts Receivable Securitization Operating Activities
RepaymentOfAccountsReceivableSecuritizationOperatingActivities
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CY2024Q3 us-gaap Accounts Receivable From Securitization
AccountsReceivableFromSecuritization
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us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Customer concentration</span> — We operate in multiple industry sectors encompassing the construction of commercial, industrial and public works infrastructure assets primarily throughout the United States. Typically, the top ten customers in any one calendar year generate revenue that is approximately 35% to 45% of total revenue; however, the companies that comprise the top ten customers vary from year to year. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">For the three and nine months ended September 30, 2024, approximately 41.9% and 40.9%, respectively, of total revenue was generated from our top ten customers and no one customer accounted for more than 10% of our total revenue.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="white-space:pre-wrap;"> For the three and nine months ended September 30, 2023, approximately </span>44.1% and 38.2%, respectively, of total revenue was generated from our top ten customers and no one customer accounted for more than 10% of our total revenue. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
prim Concentration Risk Number Of Top Customers
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10
prim Concentration Risk Number Of Top Customers
ConcentrationRiskNumberOfTopCustomers
10
prim Concentration Risk Number Of Top Customers
ConcentrationRiskNumberOfTopCustomers
10
CY2024Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
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RevenueRemainingPerformanceObligationExpectedTimingPercentage
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us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Modification Of Contract
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CY2024Q3 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
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CY2023Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
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CY2024Q3 us-gaap Receivables Long Term Contracts Or Programs
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CY2023Q4 us-gaap Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
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CY2024Q3 us-gaap Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
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CY2023Q4 us-gaap Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
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CY2024Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
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CY2023Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
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prim Increase Decrease In Contract With Customer Asset Net Current
IncreaseDecreaseInContractWithCustomerAssetNetCurrent
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CY2024Q3 prim Contract With Customer Liability Deferred Revenue Current
ContractWithCustomerLiabilityDeferredRevenueCurrent
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CY2023Q4 prim Contract With Customer Liability Deferred Revenue Current
ContractWithCustomerLiabilityDeferredRevenueCurrent
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CY2024Q3 prim Contract With Customer Liability Accrued Loss Provision Current
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CY2023Q4 prim Contract With Customer Liability Accrued Loss Provision Current
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CY2024Q3 us-gaap Contract With Customer Liability Current
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prim Increase Decrease In Contract With Customer Liability Current
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us-gaap Contract With Customer Liability Revenue Recognized
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CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q3 us-gaap Goodwill
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CY2023Q4 us-gaap Goodwill
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CY2024Q3 us-gaap Finite Lived Intangible Assets Gross
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CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2024Q3 us-gaap Intangible Assets Net Excluding Goodwill
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CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
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CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2024Q3 us-gaap Amortization Of Intangible Assets
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CY2023Q3 us-gaap Amortization Of Intangible Assets
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5200000
us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
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CY2024Q3 prim Finite Lived Intangible Assets Amortization Expense Year Four And After
FiniteLivedIntangibleAssetsAmortizationExpenseYearFourAndAfter
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CY2024Q3 us-gaap Intangible Assets Net Excluding Goodwill
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CY2024Q3 prim Contract With Customer Accounts Payable Due To Subcontractors
ContractWithCustomerAccountsPayableDueToSubcontractors
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CY2023Q4 prim Contract With Customer Accounts Payable Due To Subcontractors
ContractWithCustomerAccountsPayableDueToSubcontractors
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CY2024Q3 us-gaap Employee Related Liabilities Current
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CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
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CY2024Q3 us-gaap Operating Lease Liability Current
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CY2024Q3 us-gaap Accrued Liabilities Current
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CY2023Q4 us-gaap Debt Instrument Carrying Amount
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CY2024Q3 us-gaap Long Term Debt
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CY2023Q4 us-gaap Long Term Debt
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CY2024Q3 us-gaap Long Term Debt Current
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CY2023Q4 us-gaap Long Term Debt Current
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CY2024Q3 us-gaap Long Term Debt Noncurrent
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CY2023Q4 us-gaap Long Term Debt Noncurrent
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DebtWeightedAverageInterestRate
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CY2023Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
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prim Number Of Instruments Used For Trading
NumberOfInstrumentsUsedForTrading
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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.290
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.290
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2024Q3 us-gaap Net Income Loss
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CY2023Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
954000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
896000
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54675000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54351000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54562000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54171000
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.09
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.90
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.37
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.66
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.07
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.89
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.33
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.63
CY2021Q4 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
25000000.0
CY2023Q4 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
25000000.0
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
38156000
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
31370000
us-gaap Operating Lease Cost
OperatingLeaseCost
109926000
us-gaap Operating Lease Cost
OperatingLeaseCost
79352000
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
115743000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
96411000
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
327297000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
263454000
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
443040000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
359865000
CY2024Q3 prim Bonds Issued And Outstanding
BondsIssuedAndOutstanding
7400000000
CY2023Q4 prim Bonds Issued And Outstanding
BondsIssuedAndOutstanding
5900000000
CY2024Q3 prim Remaining Performance Obligation On Bonded Projects
RemainingPerformanceObligationOnBondedProjects
2900000000
CY2023Q4 prim Remaining Performance Obligation On Bonded Projects
RemainingPerformanceObligationOnBondedProjects
2700000000
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1649086000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1529486000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4625508000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4199760000
CY2024Q3 us-gaap Gross Profit
GrossProfit
198561000
CY2024Q3 prim Gross Profit As Percentage Of Segment Revenue
GrossProfitAsPercentageOfSegmentRevenue
0.120
CY2023Q3 us-gaap Gross Profit
GrossProfit
173895000
CY2023Q3 prim Gross Profit As Percentage Of Segment Revenue
GrossProfitAsPercentageOfSegmentRevenue
0.114
us-gaap Gross Profit
GrossProfit
518647000
prim Gross Profit As Percentage Of Segment Revenue
GrossProfitAsPercentageOfSegmentRevenue
0.112
us-gaap Gross Profit
GrossProfit
430891000
prim Gross Profit As Percentage Of Segment Revenue
GrossProfitAsPercentageOfSegmentRevenue
0.103
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0001558370-24-014294.txt Edgar Link pending
0001558370-24-014294-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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prim-20240930.xsd Edgar Link pending
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prim-20240930xex31d1.htm Edgar Link pending
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prim-20240930_cal.xml Edgar Link unprocessable
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