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Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 1.65B | 5.4% |
| Gross Profit | 199M | 6.3% |
| Cost of Revenue | 1.55B | 4.8% |
| Operating expense | 104M | 1.9% |
| Net Income | 58M | 18% |
| EBITDA | 104M | 14.3% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 4.24B | 4.7% |
| Total Liabilities | 2.88B | 4.8% |
| Total Equity | 1.36B | 4.5% |
| Shares Outstanding | 54M | 0.1% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | 222M | 1284.5% |
| Cash from investing | -40M | 214.5% |
| Cash from financing | -35M | 45.5% |
EPS
Financial Highlights for Primoris Services Corporation in Q3 '24
Primoris Services Corporation reported a revenue of 1.65B, which is a 5.4% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 199M, marking a 6.3% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 1.55B, a 4.8% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 104M, showing a -1.9% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 58M, showing a 18% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 104M, showing a 14.3% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Primoris Services Corporation with growth in revenue, gross profit, and net income.
