Primoris raises FY25 EPS view to $4.90-$5.10 from $4.20-$4.40, consensus $4.47

The Company is raising its estimates for the year ending December 31, 2025. Net income is expected to be between $241.0 million and $252.0 million, or $4.40 and $4.60 per fully diluted share. Adjusted EPS is estimated in the range of $4.90 to $5.10 per fully diluted share. Adjusted EBITDA for the full year 2025 is expected to range from $490 million to $510 million. The Company is targeting SG&A expense as a percentage of revenue in the high five percent range for the full year 2025. The Company’s targeted gross margins by segment are 10 to 12 percent for both the Utilities and Energy segments for the full year 2025. The Company expects its effective tax rate for 2025 to be approximately 29 percent, but it may vary depending on the mix of states in which the Company operates.