Primoris Services Corporation Awarded Solar Projects, Estimated Value $290 Million
03 Enero 2023 - 4:54PM
Business Wire
Primoris Services Corporation (NASDAQ Global Select: PRIM)
(“Primoris” or the “Company”) today announced multiple solar
project awards with an estimated value of $290 million. The
contracts were secured by the Company’s Energy/Renewables Segment
in the fourth quarter of 2022.
“These awards align with our market strategy by expanding our
presence in new geographies and diversifying our scope of work with
smaller utility-scale solar projects,” said Tom McCormick,
President and Chief Executive Officer of Primoris. “We prioritize
supporting the needs of our clients and these awards demonstrate
the value our customers place on our services.”
The awards are for the engineering, procurement and construction
of utility-scale solar facilities in the Midwest. The primary scope
of this award includes all civil, electrical and mechanical work.
Initial construction will begin in the first quarter of 2023 with
completion expected in the second quarter of 2024.
About Primoris
Primoris Services Corporation is a leading specialty contractor
providing critical infrastructure services to the utility,
energy/renewables and pipeline services markets throughout the
United States and Canada. The Company supports a diversified base
of blue-chip customers with engineering, procurement, construction
and maintenance services. A focus on multi-year master service
agreements and an expanded presence in higher-margin, higher-growth
markets such as utility-scale solar facility installations,
renewable fuels, power delivery systems and communications
infrastructure have also increased the Company’s potential for
long-term growth. Additional information on Primoris is available
at www.prim.com.
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements
that reflect, when made, the Company’s expectations or beliefs
concerning future events that involve risks and uncertainties,
including the Company’s future performance. Forward-looking
statements include all statements that are not historical facts and
can be identified by terms such as “anticipates”, “believes”,
“could”, “estimates”, “expects”, “intends”, “may”, “plans”,
“potential”, “predicts”, “projects”, “should”, “will”, “would” or
similar expressions. Forward-looking statements include information
concerning our possible or assumed future results of operations,
business strategies, financing plans, competitive position,
industry environment, potential growth opportunities, the effects
of regulation and the economy, generally. Forward-looking
statements inherently involve known and unknown risks,
uncertainties, and other factors, which may cause our actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Actual results may
differ materially as a result of a number of factors, including,
among other things, the risks described in Part I, Item 1A “Risk
Factors” of our Annual Report on Form 10-K for the year ended
December 31, 2021, and our other filings with the U.S. Securities
and Exchange Commission (“SEC”). Such filings are available on the
SEC’s website at www.sec.gov. Given these risks and uncertainties,
you should not place undue reliance on forward-looking statements.
Primoris does not undertake any obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
under applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20230103005782/en/
Blake Holcomb Vice President, Investor Relations 214-545-6773
bholcomb@prim.com
Primoris Services (NASDAQ:PRIM)
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