Primoris Services Corporation
(NYSE:PRIM)

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates in five segments: Power, Industrial, and Engineering; Pipeline and Underground; Utilities and ...

Website: http://www.primoriscorp.com

Founded: 1960

Full Time Employees: 9,700

Sector: Industrials

Industry: Engineering & Construction

Industrials

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• Employees:

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At a glance:

Bull Thesis:

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Moat:

Income Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2008-09-30

revenue	1,559,900,000	1,857,621,000	2,178,422,000	1,890,745,000	1,648,112,000	1,741,330,000	1,649,086,000	1,563,715,000	1,412,707,000	1,515,549,000	1,529,486,000	1,413,377,000	1,256,896,000	1,329,138,000	1,284,128,000	1,022,948,000	784,384,000	884,448,000	913,245,000	881,610,000	818,329,000	897,338,000	942,700,000	908,216,000	743,243,000	789,778,000	865,064,000	789,929,000	661,558,000	877,670,000	908,902,000	648,787,000	504,119,000	450,244,500	608,311,000	631,165,000
yoy	-5.35%	6.68%	32.10%	20.91%	16.66%	14.90%	7.82%	10.64%	12.40%	14.02%	19.11%	38.17%	60.24%	50.28%	40.61%	16.03%	-4.15%	-1.44%	-3.12%	-2.93%	10.10%	13.62%	8.97%	14.97%	12.35%	-10.01%	-4.82%	21.75%	31.23%	94.93%	49.41%	2.79%
qoq	-16.03%	-14.73%	15.22%	14.72%	-5.35%	5.59%	5.46%	10.69%	-6.79%	-0.91%	8.22%	12.45%	-5.44%	3.51%	25.53%	30.41%	-11.31%	-3.15%	3.59%	7.73%	-8.80%	-4.81%	3.80%	22.20%	-5.89%	-8.70%	9.51%	19.40%	-24.62%	-3.44%	40.09%	28.70%	11.97%	-25.98%	-3.62%
cost of revenue	1,425,200,000	1,682,628,000	1,942,708,000	1,659,009,000	1,477,455,000	1,556,732,000	1,450,525,000	1,377,005,000	1,279,331,000	1,358,949,000	1,355,591,000	1,256,113,000	1,157,164,000	1,175,754,000	1,129,221,000	930,839,000	727,898,000	788,431,000	785,809,000	768,584,000	738,148,000	799,582,000	819,019,000	807,249,000	695,433,000	700,264,000	756,643,000	709,398,000	609,098,000	774,417,000	802,397,000	577,368,000	459,559,000	397,755,250	537,890,000	546,682,000
gross profit	134,700,000	174,993,000	235,714,000	231,736,000	170,657,000	184,598,000	198,561,000	186,710,000	133,376,000	156,600,000	173,895,000	157,264,000	99,732,000	153,384,000	154,907,000	92,109,000	56,486,000	96,017,000	127,436,000	113,026,000	80,181,000	97,756,000	123,681,000	100,967,000	47,810,000	89,514,000	108,421,000	80,531,000	52,460,000	103,253,000	106,505,000	71,419,000	44,560,000	68,043,000	70,421,000	84,483,000	55,053,000	68,309,000	50,129,000	43,285,000	39,277,000	63,725,000	71,647,000	46,496,000	38,005,000	49,616,000	75,473,000	61,194,000	49,757,000	74,917,000	75,465,000	59,537,000	46,096,000	54,819,000	56,291,000	44,004,000	37,596,000	51,046,000	52,121,000	41,406,000	40,630,000	43,800,000	27,880,000	26,636,000	24,473,000	20,848,000	19,076,000	20,923,000	21,103,000
yoy	-21.07%	-5.20%	18.71%	24.12%	27.95%	17.88%	14.18%	18.72%	33.73%	2.10%	12.26%	70.74%	76.56%	59.75%	21.56%	-18.51%	-29.55%	-1.78%	3.04%	11.94%	67.71%	9.21%	14.07%	25.38%	-8.86%	-13.31%	1.80%	12.76%	17.73%	51.75%	51.24%	-15.46%	-19.06%	-0.39%	40.48%	95.18%	40.17%	7.19%	-30.03%	-6.91%	3.35%	28.44%	-5.07%	-24.02%	-23.62%	-33.77%	0.01%	2.78%	7.94%	36.66%	34.06%	35.30%	22.61%	7.39%	8.00%	6.27%	-7.47%	16.54%	86.95%	55.45%	66.02%	110.09%	46.15%	27.30%	15.97%
qoq	-23.03%	-25.76%	1.72%	35.79%	-7.55%	-7.03%	6.35%	39.99%	-14.83%	-9.95%	10.58%	57.69%	-34.98%	-0.98%	68.18%	63.07%	-41.17%	-24.65%	12.75%	40.96%	-17.98%	-20.96%	22.50%	111.18%	-46.59%	-17.44%	34.63%	53.51%	-49.19%	-3.05%	49.13%	60.28%	-34.51%	-3.38%	-16.64%	53.46%	-19.41%	36.27%	15.81%	10.20%	-38.36%	-11.06%	54.09%	22.34%	-23.40%	-34.26%	23.33%	22.99%	-33.58%	-0.73%	26.75%	29.16%	-15.91%	-2.61%	27.92%	17.04%	-26.35%	-2.06%	25.88%	1.91%	-7.24%	57.10%	4.67%	8.84%	17.39%	9.29%	-8.83%	-0.85%
gross margin %	8.64%	9.42%	10.82%	12.26%	10.35%	10.60%	12.04%	11.94%	9.44%	10.33%	11.37%	11.13%	7.93%	11.54%	12.06%	9.00%	7.20%	10.86%	13.95%	12.82%	9.80%	10.89%	13.12%	11.12%	6.43%	11.33%	12.53%	10.19%	7.93%	11.76%	11.72%	11.01%	8.84%	15.11%	11.58%	13.39%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
selling, general and administrative expenses	105,800,000	97,455,000	97,694,000	104,549,000	99,501,000	96,539,000	98,106,000	100,118,000	88,588,000	80,749,000	84,404,000	85,571,000	78,009,000	90,672,000	75,721,000	59,730,000	55,455,000	57,225,000	61,706,000	57,747,000	53,432,000	49,928,000	57,097,000	51,422,000	44,388,000	48,574,000	49,827,000	48,719,000	42,931,000	49,957,000	51,604,000	43,489,000	38,651,000	32,097,500	42,559,000	45,977,000	39,854,000	25,287,500	35,994,000	32,498,000	32,658,000	41,252,000	38,545,000	38,547,000	33,760,000	33,161,000	36,162,000	33,213,000	29,712,000	34,121,000	36,478,000	31,560,000	28,619,000	26,740,000	26,014,000	23,396,000	20,274,000	25,779,000	20,103,000	20,477,000	19,845,000	21,136,000	14,580,000	15,823,000	13,755,000	11,356,000	7,423,000	8,388,000	7,039,000
transaction and related costs	4,500,000	47,000	1,019,000	543,000	792,000	465,000	905,000	522,000	550,000	1,008,000	1,084,000	898,000	2,695,000	1,826,000	12,706,000	5,199,000	323,000	1,576,000	447,000	480,000	13,896,000
operating income	24,400,000	77,491,000	137,001,000	126,644,000	70,364,000	87,594,000	99,550,000	86,070,000	44,238,000	74,843,000	88,407,000	70,795,000	19,028,000	60,886,000	66,480,000	67,264,000	708,000	37,216,000	65,283,000	54,799,000	12,853,000	44,398,000	66,584,000	49,545,000	3,422,000	40,940,000	58,594,000	31,812,000	9,529,000	53,226,000	51,074,000	20,262,000	5,909,000	24,433,000	27,862,000	38,506,000	15,199,000	29,175,000	11,419,000	10,787,000	6,619,000	22,473,000	33,102,000	7,949,000	4,245,000	16,455,000	39,311,000	27,981,000	20,045,000	40,796,000	38,987,000	27,977,000	17,477,000	28,079,000	30,277,000	20,608,000	17,322,000	25,267,000	32,018,000	20,929,000	20,785,000	22,664,000	13,300,000	10,813,000	10,718,000	9,102,000	11,653,000	12,535,000	10,389,000
yoy	-65.32%	-11.53%	37.62%	47.14%	59.06%	17.04%	12.60%	21.58%	132.49%	22.92%	32.98%	5.25%	2587.57%	63.60%	1.83%	22.75%	-94.49%	-16.18%	-1.95%	10.60%	275.60%	8.45%	13.64%	55.74%	-64.09%	-23.08%	14.72%	57.00%	61.26%	117.84%	83.31%	-47.38%	-61.12%	-16.25%	144.00%	256.97%	129.63%	29.82%	-65.50%	35.70%	55.92%	36.57%	-15.79%	-71.59%	-78.82%	-59.67%	0.83%	0.01%	14.69%	45.29%	28.77%	35.76%	0.89%	11.13%	-5.44%	-1.53%	-16.66%	11.49%	140.74%	93.55%	93.93%	149.00%	14.13%	-13.74%	3.17%
qoq	-68.51%	-43.44%	8.18%	79.98%	-19.67%	-12.01%	15.66%	94.56%	-40.89%	-15.34%	24.88%	272.06%	-68.75%	-8.41%	-1.17%	9400.56%	-98.10%	-42.99%	19.13%	326.35%	-71.05%	-33.32%	34.39%	1347.84%	-91.64%	-30.13%	84.19%	233.84%	-82.10%	4.21%	152.07%	242.90%	-75.82%	-12.31%	-27.64%	153.35%	-47.90%	155.50%	5.86%	62.97%	-70.55%	-32.11%	316.43%	87.26%	-74.20%	-58.14%	40.49%	39.59%	-50.87%	4.64%	39.35%	60.08%	-37.76%	-7.26%	46.92%	18.97%	-31.44%	-21.09%	52.98%	0.69%	-8.29%	70.41%	23.00%	0.89%	17.75%	-21.89%	-7.04%	20.66%
operating margin %	1.56%	4.17%	6.29%	6.70%	4.27%	5.03%	6.04%	5.50%	3.13%	4.94%	5.78%	5.01%	1.51%	4.58%	5.18%	6.58%	0.09%	4.21%	7.15%	6.22%	1.57%	4.95%	7.06%	5.46%	0.46%	5.18%	6.77%	4.03%	1.44%	6.06%	5.62%	3.12%	1.17%	5.43%	4.58%	6.10%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
other income:
foreign exchange loss														-59,750	-683,000			-110,750		-466,000		-35,250	-77,000
other income	100,000	1,118,000	134,000	32,000	16,000	90,000	61,000	81,000	-126,000	64,000	467,000	713,000	331,000	1,798,000	128,000	155,000		-256,000	181,000	379,000	-5,000	418,000	98,000	706,000	12,000	-13,000	-2,928,000	177,000	-370,000	-57,000	32,000	-771,000	-12,000					-69,500	-278,000			1,451,000	361,000
interest expense	-4,600,000	-6,404,000	-6,955,000	-7,552,000	-7,789,000	-12,331,000	-17,859,000	-17,133,000	-17,992,000	-21,728,000	-21,065,000	-16,884,000	-18,465,000	-18,556,000	-13,075,000	-4,705,000	-2,876,000	-4,344,000	-4,698,000	-4,825,000	-4,721,000	-2,769,000	-4,728,000	-3,690,000	-9,112,000	-2,603,000	-5,186,000	-6,716,000	-5,592,000	-7,109,000	-6,448,000	-3,191,000	-1,998,000	-1,651,250	-2,198,000	-2,145,000	-2,262,000	-1,688,500	-2,246,000	-2,240,000
income before provision for income taxes	19,900,000	71,866,000	131,066,000	118,759,000	62,309,000	76,153,000	82,305,000	69,779,000	26,680,000	53,041,000	67,808,000	55,000,000	1,820,000	45,455,000	52,850,000	63,274,000		32,964,000	60,766,000	49,892,000	8,235,000	42,585,000	61,890,000	46,425,000	-5,261,000	38,703,000	50,386,000	25,089,000	3,731,000	45,513,000	45,521,000	17,896,000	4,428,000	23,314,000	32,086,000	36,571,000	13,029,000	26,797,000	8,834,000	8,620,000	4,749,000	21,495,000	30,843,000	6,032,000	2,727,000	14,857,000	42,495,000	26,621,000	18,355,000	40,178,000	37,268,000	25,883,000	16,247,000	26,894,000	28,913,000	19,079,000	17,050,000	18,981,750	32,092,000	23,698,000	20,137,000					8,943,750	12,614,000	13,911,000	11,820,000
provision for income taxes	-2,500,000	-20,142,000	-36,449,000	-34,440,000	-18,069,000	-22,187,000	-23,869,000	-20,236,000	-7,737,000	-15,382,000	-19,664,000	-15,968,000		-3,954,000	-9,810,000	-13,120,000		-3,424,000	-16,710,000	-13,597,000		-10,773,000	-17,947,000	-13,463,000		-11,192,000	-14,560,000	-7,265,000	-795,000	-11,132,000	-10,716,000	-3,705,000	-212,000	-7,161,000	-9,952,000	-14,175,000	-4,517,000	-2,311,000	-4,078,000	-3,333,000
net income	17,400,000	51,724,000	94,617,000	84,319,000	44,240,000	53,966,000	58,436,000	49,543,000	18,943,000	37,659,000	48,144,000	39,032,000	1,310,000	41,501,000	43,040,000	50,154,000	-1,674,000	29,540,000	44,056,000	36,295,000	5,848,000	31,812,000	43,943,000	32,962,000	-3,734,000	27,511,000	35,826,000	17,824,000	2,936,000	34,381,000	34,805,000	14,191,000	4,216,000	23,958,000	22,134,000	22,396,000	8,512,000	15,041,000	4,756,000	5,287,000	2,916,000	12,708,000	19,079,000	3,692,000	1,672,000	9,024,000	27,390,000	16,003,000	11,265,000	25,554,000	23,193,000	15,893,000	10,040,000	17,932,000	17,948,000	11,733,000	10,486,000	12,471,000	19,348,000	14,462,000	12,278,000	12,254,000	7,577,000	7,087,000	6,698,000	3,745,000	7,947,000	8,580,000	10,086,000
yoy	-60.67%	-4.15%	61.92%	70.19%	133.54%	43.30%	21.38%	26.93%	1346.03%	-9.26%	11.86%	-22.18%	-178.26%	40.49%	-2.31%	38.18%	-128.63%	-7.14%	0.26%	10.11%	-256.61%	15.63%	22.66%	84.93%	-227.18%	-19.98%	2.93%	25.60%	-30.36%	43.51%	57.25%	-36.64%	-50.47%	59.28%	365.39%	323.61%	191.91%	18.36%	-75.07%	43.20%	74.40%	40.82%	-30.34%	-76.93%	-85.16%	-64.69%	18.10%	0.69%	12.20%	42.51%	29.22%	35.46%	-4.25%	43.79%	-7.24%	-18.87%	-14.60%	1.77%	155.35%	104.06%	83.31%	227.21%	-4.66%	-17.40%	-33.59%
qoq	-66.36%	-45.33%	12.21%	90.59%	-18.02%	-7.65%	17.95%	161.54%	-49.70%	-21.78%	23.34%	2879.54%	-96.84%	-3.58%	-14.18%	-3096.06%	-105.67%	-32.95%	21.38%	520.64%	-81.62%	-27.61%	33.31%	-982.75%	-113.57%	-23.21%	101.00%	507.08%	-91.46%	-1.22%	145.26%	236.60%	-82.40%	8.24%	-1.17%	163.11%	-43.41%	216.25%	-10.04%	81.31%	-77.05%	-33.39%	416.77%	120.81%	-81.47%	-67.05%	71.16%	42.06%	-55.92%	10.18%	45.93%	58.30%	-44.01%	-0.09%	52.97%	11.89%	-15.92%	-35.54%	33.79%	17.79%	0.20%	61.73%	6.91%	5.81%	78.85%	-52.88%	-7.38%	-14.93%
net income margin %	1.12%	2.78%	4.34%	4.46%	2.68%	3.10%	3.54%	3.17%	1.34%	2.48%	3.15%	2.76%	0.10%	3.12%	3.35%	4.90%	-0.21%	3.34%	4.82%	4.12%	0.71%	3.55%	4.66%	3.63%	-0.50%	3.48%	4.14%	2.26%	0.44%	3.92%	3.83%	2.19%	0.84%	5.32%	3.64%	3.55%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
dividends per common share	80,000	319,760	80	80	80	80	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	224,830	55																																		25
earnings per share:
basic	0.32	0.95	1.75	1.56	0.82	1	1.09	0.92	0.35	0.71	0.9	0.73	0.02	0.78	0.81	0.94	-0.03	0.54	0.82	0.68	0.12	0.66	0.91	0.68	-0.08	0.53	0.7	0.35	0.04	0.63	0.64	0.23	0.01	0.44	0.4	0.42	0.15	0.28	0.09	0.1	0.05	0.24	0.37	0.07	0.03	0.17	0.53	0.31	0.21	0.43	0.42	0.3	0.19	0.33	0.34	0.23	0.21	0.228	0.38	0.28	0.25
diluted	0.32	0.95	1.73	1.54	0.81	0.98	1.07	0.91	0.35	0.7	0.89	0.72	0.02	0.77	0.8	0.93	-0.03	0.54	0.81	0.67	0.12	0.66	0.9	0.68	-0.08	0.53	0.7	0.35	0.04	0.63	0.63	0.23	0.01	0.44	0.4	0.42	0.15	0.27	0.09	0.1	0.05	0.24	0.37	0.07	0.03	0.17	0.53	0.31	0.21	0.44	0.42	0.3	0.19	0.33	0.34	0.23	0.2	0.225	0.38	0.28	0.24
weighted-average common shares outstanding:
basic	54.1	54	54,017	54,003	53,813	53,636	53,692	53,640	53,490	53,297	53,339	53,301	53,184	53,200	53,181	53,263	53,240	52,674	53,769	53,729	49,503	48,303	48,253	48,270	48,588	50,784	50,976	50,912	50,770	51,350	51,403	51,531	51,479	51	51,441	51,437	51,594	51,762	51,780	51,772					51,572	51,607	51,606	51,655	51,610	51,540	51,568	51,562	51,456	51,391	51,398	51,435	51,096	50,707	51,054	51,044	49,675	42,694	44,887	43,163	33,202	31,937	32,477	32,477	27,824
diluted	54.8	54.8	54,803	54,805	54,705	54,576	54,675	54,653	54,414	54,223	54,351	54,324	53,944	53,759	53,748	53,852	53,240	53,161	54,367	54,285	50,026	48,633	48,574	48,668	48,588	51,084	51,215	51,228	51,188	51,670	51,735	51,793	51,747	52	51,707	51,688	51,851	51,989	52,034	52,022					51,726	51,747	51,759	51,804	51,714	51,610	51,671	51,626	51,467	51,406	51,404	51,435	51,337	51,153	51,054	51,154	51,051	46,878	45,528	45,407	45,544	34,418	34,048	32,835	31,063
foreign exchange gain		-339,000	886,000	-365,000	-282,000	800,000	553,000	761,000	560,000	-138,000	-1,000	376,000	926,000			560,000	-116,000				23,000			-200,000	136,000	34,000	-136,000	-403,000	-185,000	-756,000	-69,000	1,256,000	257,000	74,750	167,000	109,000	23,000	72,000	-92,000	21,000	359,000				436,000	300,000		149,000	26,000	150,000	91,000				18,000						36,000	-16,000	80,000	94,000	92,000	260,000			89,000
gain on sale and leaseback transaction																-40,084,000
benefit for income taxes													-510,000				619,000				-2,387,000				1,527,000
other expense																	-9,000																	-13,000	-39,000	-13,000
income before benefit for income taxes																	-2,293,000
net income attributable to noncontrolling interests																		-122,000	-3,000	-5,000
net income attributable to primoris																		29,418,000	44,053,000	36,290,000	5,850,000	31,811,000	43,941,000	32,959,000	-3,737,000	26,945,000	35,648,000	17,787,000	1,947,000	32,367,000	32,691,000	11,715,000	688,000	22,167,000	20,597,000	21,545,000	7,691,000	14,747,000	4,504,000	5,056,000	2,693,000	12,555,000	19,007,000	3,638,000	1,672,000	8,930,000	27,390,000	16,003,000	10,833,000	22,481,000	21,845,000	15,564,000	9,770,000	17,021,000	17,516,000
interest income																				5,000	85,000	18,000	13,000	64,000	281,000	345,000	42,000	219,000	349,000	209,000	932,000	340,000	272,000	102,750	228,000	114,000	69,000	30,500	31,000	52,000	39,000	34,000	4,000	6,000	12,000	8,000	14,000	14,000	52,000	15,000	32,000	23,000	40,000	14,000	96,000	25,000	22,000	34,000	39,000	100,000	158,000	132,000	151,000	153,000	180,000
net loss attributable to noncontrolling interests																					2,000
less net income attributable to noncontrolling interests																						-1,000	-2,000	-3,000	-3,000	-566,000	-178,000	-37,000	-989,000	-2,014,000	-2,114,000	-2,476,000	-3,528,000	-802,250	-1,537,000	-851,000	-821,000	-176,500	-252,000	-231,000	-223,000								-432,000				-270,000

merger and related costs																														70,000	3,827,000	7,668,000
investment income																																		1,516,500	6,066,000
impairment of goodwill																																						284,000	2,716,000
revenues																																					561,502,000	601,915,000	507,828,000	456,811,000	430,446,000	497,145,000	555,945,000	483,545,000	392,780,000	487,592,000	613,237,000	515,291,000	470,074,000	537,879,000	551,333,000	445,013,000	409,995,000	480,883,000	431,842,000	337,436,000	291,573,000	373,066,000	375,483,000	351,956,000	359,645,000	333,239,000	230,357,000	203,187,000	174,982,000	99,881,000	111,491,000	126,900,000	146,737,000
cost of revenues																																					506,449,000	533,606,000	457,699,000	413,526,000	391,169,000	433,420,000	484,298,000	437,049,000	354,775,000	437,976,000	537,764,000	454,097,000	420,317,000	462,962,000	475,868,000	385,476,000	363,899,000	426,064,000	375,551,000	293,432,000	253,977,000	322,020,000	323,362,000	310,550,000	319,015,000	289,439,000	202,477,000	176,551,000	150,509,000	79,033,000	92,415,000	105,977,000	125,634,000
weighted average common shares outstanding:
basic																																									51,725	51,647	51,672	51,666
diluted																																									51,881	51,798	51,824	51,815
income from non-consolidated entities																																															5,250,000		14,000	42,250	113,000		269,000	-709,000			1,057,000	1,826,250	2,079,000	4,400,000	826,000	1,022,500	1,366,000	1,756,000	968,000	1,335,500	1,439,000	1,736,000	1,474,000
other expenses
income from continuing operations, before provision for income taxes																																																														20,531,000	13,219,000	11,274,000	10,651,000
provision for taxes
income from continuing operations																																																														12,254,000	7,577,000	7,087,000	6,698,000
loss on discontinued operations, net of income taxes
earnings per share:
basic:
loss on discontinued operations
diluted:
income on discontinued operations
income on discontinued operations, net of income taxes
merger related stock expense																																																																					3,675,000
interest income net
basic earnings per share																																																																		0.175	0.24	0.26	0.36
diluted earnings per share																																																																		0.168	0.23	0.26	0.32
weighted-average common shares outstanding
basic	54.1	54	54,017	54,003	53,813	53,636	53,692	53,640	53,490	53,297	53,339	53,301	53,184	53,200	53,181	53,263	53,240	52,674	53,769	53,729	49,503	48,303	48,253	48,270	48,588	50,784	50,976	50,912	50,770	51,350	51,403	51,531	51,479	51	51,441	51,437	51,594	51,762	51,780	51,772					51,572	51,607	51,606	51,655	51,610	51,540	51,568	51,562	51,456	51,391	51,398	51,435	51,096	50,707	51,054	51,044	49,675	42,694	44,887	43,163	33,202	31,937	32,477	32,477	27,824
diluted	54.8	54.8	54,803	54,805	54,705	54,576	54,675	54,653	54,414	54,223	54,351	54,324	53,944	53,759	53,748	53,852	53,240	53,161	54,367	54,285	50,026	48,633	48,574	48,668	48,588	51,084	51,215	51,228	51,188	51,670	51,735	51,793	51,747	52	51,707	51,688	51,851	51,989	52,034	52,022					51,726	51,747	51,759	51,804	51,714	51,610	51,671	51,626	51,467	51,406	51,404	51,435	51,337	51,153	51,054	51,154	51,051	46,878	45,528	45,407	45,544	34,418	34,048	32,835	31,063
pro forma net income data—2008:
income before provision for income tax, as reported																																																																					11,820
adjustments for provision for income tax
pro forma adjusted net income																																																																					7,114
pro forma earnings per share
basic																																																																					0.26
diluted																																																																					0.23
pro forma net income data:

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2008-09-30

assets
current assets:
cash and cash equivalents	361,500,000	535,500,000	431,418,000	390,254,000	351,581,000	455,825,000	352,657,000	207,363,000	177,600,000	217,778,000	160,736,000	122,692,000	94,756,000	248,692,000	111,937,000	91,254,000	173,505,000	200,512,000	199,025,000	177,979,000	212,770,000	326,744,000	228,546,000	155,670,000	93,474,000	120,286,000	43,837,000	54,114,000	73,985,000	151,063,000	60,039,000	139,404,000	134,172,000	170,000	143,235,000	111,676,000	148,485,000	136,000	148,667,000	97,115,000	98,809,000	161,122,000	89,424,000	85,970,000	106,018,000	139,465,000	144,150,000	160,177,000	149,620,000	196,077,000	174,034,000	113,777,000	141,527,000	157,551,000	76,654,000	119,286,000	134,480,000	120,306,000	95,744,000	135,289,000	131,388,000	115,437,000	81,594,000	87,283,000	83,289,000	90,004,000	80,346,000	59,781,000	76,695,000
accounts receivable	754,400,000	723,400,000	1,041,078,000	1,020,461,000	756,504,000	834,386,000	941,011,000	888,267,000	811,945,000	685,439,000	851,612,000	818,284,000	746,493,000	663,119,000	687,884,000	597,195,000	450,405,000	471,656,000	554,501,000	479,013,000	478,972,000	432,455,000	494,453,000	468,949,000	416,412,000	404,911,000	551,543,000	472,946,000	397,786,000	372,695,000	473,045,000	375,763,000	260,920,000	358,000	356,851,000	355,231,000	369,775,000	388,000	293,495,000	318,074,000	341,101,000	320,588,000	386,084,000	318,513,000	299,028,000	337,382,000	388,381,000	311,321,000	289,124,000	304,955,000	284,497,000	251,092,000	249,621,000	268,095,000	263,144,000	175,082,000	156,696,000	187,378,000	157,924,000	155,122,000	146,819,000	208,145,000	148,981,000	121,928,000	117,610,000	108,492,000	81,810,000	95,483,000	83,485,000
contract assets	917,300,000	936,900,000	959,052,000	920,672,000	939,014,000	773,736,000	805,923,000	873,008,000	871,911,000	846,176,000	743,836,000	786,909,000	721,905,000	616,224,000	645,725,000	484,724,000	469,918,000	423,659,000	411,262,000	386,702,000	366,343,000	325,849,000	361,099,000	376,733,000	359,370,000	344,806,000	331,910,000	415,142,000	366,435,000	364,245,000	382,492,000	360,710,000	262,932,000
prepaid expenses and other current assets	108,200,000	137,800,000	134,211,000	127,644,000	126,795,000	95,525,000	122,961,000	122,583,000	138,027,000	135,840,000	134,967,000	142,949,000	118,585,000	176,350,000	216,560,000	144,774,000	120,329,000	86,263,000	52,444,000	50,719,000	46,158,000	30,218,000	32,977,000	45,943,000	47,409,000	42,704,000	34,222,000	30,142,000	38,123,000	36,444,000	22,383,000	40,103,000	21,694,000		14,529,000	16,082,000	17,804,000		16,965,000	21,583,000	22,104,000	18,265,000	31,071,000	32,488,000	37,083,000	31,720,000	11,653,000	12,003,000	12,610,000	12,654,000	12,830,000	12,719,000	10,810,000	10,800,000	7,992,000	10,715,000	8,454,000	13,252,000	7,632,000	11,255,000	8,967,000	12,925,000	9,521,000	12,375,000	10,029,000	5,501,000
total current assets	2,141,400,000	2,333,600,000	2,565,759,000	2,459,031,000	2,173,894,000	2,159,472,000	2,222,552,000	2,091,221,000	1,999,483,000	1,885,233,000	1,891,151,000	1,870,834,000	1,681,739,000	1,704,385,000	1,662,106,000	1,317,947,000	1,214,157,000	1,182,090,000	1,217,232,000	1,094,413,000	1,104,243,000	1,115,266,000	1,117,075,000	1,047,295,000	916,665,000	912,707,000	961,512,000	972,344,000	876,329,000	924,447,000	937,959,000	951,472,000	689,718,000		752,124,000	684,954,000	711,185,000		673,861,000	635,244,000	672,748,000	686,824,000	704,107,000	626,696,000	632,798,000	680,365,000	714,229,000	648,311,000	615,616,000	659,784,000	624,444,000	527,623,000	529,066,000	564,635,000	500,908,000	436,264,000	411,705,000	459,877,000	408,984,000	414,037,000	383,001,000	427,432,000	327,259,000	311,539,000	293,359,000	285,487,000	206,515,000	209,527,000	204,152,000
property and equipment	536,000,000	531,200,000	530,209,000	526,392,000	506,598,000	488,241,000	484,426,000	446,314,000	462,992,000	475,929,000	489,395,000	480,598,000	483,612,000	493,859,000	508,689,000	462,801,000	458,616,000	433,279,000	434,307,000	432,200,000	414,990,000	356,194,000	366,721,000	368,086,000	363,993,000	375,888,000	379,739,000	377,147,000	369,128,000	375,884,000	369,123,000	356,843,000	313,937,000		305,046,000	309,013,000	285,921,000		286,886,000	293,450,000	279,994,000	283,545,000	286,386,000	286,275,000	282,046,000	271,431,000	262,835,000	245,342,000	228,834,000	226,512,000	220,179,000	215,659,000	195,258,000	184,840,000	159,369,000	151,345,000	137,015,000	129,649,000	123,646,000	120,974,000	121,015,000	123,167,000	96,818,000	97,269,000	90,653,000	92,568,000	31,830,000	28,181,000	27,300,000
operating lease assets	485,500,000	488,900,000	484,357,000	474,676,000	454,893,000	461,049,000	447,589,000	421,024,000	393,879,000	360,507,000	308,111,000	249,609,000	219,150,000	202,801,000	162,579,000	139,037,000	145,023,000	158,609,000	173,198,000	189,411,000	205,725,000	207,320,000	221,615,000	240,072,000	253,117,000	242,385,000	228,100,000	179,000,000	153,168,000
intangible assets	186,100,000	190,200,000	194,380,000	198,663,000	203,259,000	207,896,000	212,555,000	217,283,000	222,369,000	227,561,000	232,752,000	237,945,000	243,307,000	249,381,000	270,349,000	176,077,000	167,710,000	171,320,000	172,165,000	176,810,000	181,226,000	61,012,000	62,994,000	65,146,000	67,460,000	69,829,000	72,581,000	75,516,000	78,450,000	81,198,000	85,813,000	94,089,000	42,376,000		48,655,000	51,228,000	31,114,000		31,423,000	33,199,000	34,814,000	36,438,000	38,149,000	39,860,000	37,930,000	39,581,000	42,471,000	42,345,000	43,460,000	45,303,000	48,002,000	49,893,000	50,984,000	51,978,000	32,452,000	32,428,000	33,875,000	32,021,000	33,048,000	35,101,000	37,868,000	40,633,000	28,404,000	29,818,000	31,314,000
goodwill	856,900,000	856,900,000	856,869,000	856,869,000	856,869,000	856,869,000	857,650,000	857,650,000	857,650,000	857,650,000	857,650,000	857,650,000	871,712,000	871,808,000	820,322,000	591,646,000	583,534,000	581,664,000	584,681,000	582,106,000	588,845,000	215,103,000	215,103,000	215,103,000	215,103,000	215,103,000	215,103,000	215,103,000	207,410,000	206,159,000	208,130,000	197,071,000	153,374,000		151,118,000	150,672,000	127,226,000		123,445,000	126,161,000	126,161,000	124,161,000	124,562,000	124,562,000	128,727,000	119,410,000	118,626,000	118,626,000	118,626,000	118,626,000	118,626,000	118,028,000	118,964,000	116,941,000	104,019,000	103,569,000	103,569,000	94,179,000	94,179,000	94,179,000	94,179,000	94,179,000	61,713,000	59,678,000	59,678,000	59,678,000	2,842,000	2,842,000
other long-term assets	7,700,000	7,000,000	18,378,000	20,411,000	21,975,000	22,341,000	15,521,000	16,396,000	18,074,000	20,547,000	24,112,000	25,388,000	23,200,000	21,786,000	23,078,000	25,036,000	27,058,000	15,058,000	14,491,000	16,896,000	18,471,000	12,776,000	14,860,000	16,736,000	17,675,000	13,453,000	11,046,000	5,198,000	4,789,000	5,002,000	6,680,000	5,639,000	3,042,000		4,749,000	1,624,000	2,151,000		2,174,000	958,000	606,000	211,000	2,785,000	2,200,000	400,000	400,000	404,000	382,000	416,000		1,214,000	1,158,000	1,181,000
total assets	4,213,600,000	4,407,800,000	4,649,952,000	4,536,042,000	4,217,488,000	4,195,868,000	4,240,293,000	4,049,888,000	3,954,447,000	3,827,427,000	3,803,171,000	3,722,024,000	3,522,720,000	3,544,020,000	3,454,337,000	2,713,830,000	2,597,439,000	2,543,327,000	2,597,993,000	2,493,807,000	2,515,434,000	1,969,580,000	1,999,502,000	1,953,554,000	1,835,103,000	1,830,465,000	1,868,969,000	1,825,211,000	1,690,766,000	1,594,147,000	1,621,146,000	1,614,001,000	1,202,447,000	1,256,000	1,261,692,000	1,197,491,000	1,157,597,000	1,171,000	1,118,864,000	1,090,087,000	1,115,398,000	1,132,254,000	1,155,989,000	1,079,593,000	1,081,901,000	1,111,187,000	1,138,565,000	1,055,006,000	1,006,952,000	1,050,693,000	1,019,011,000	925,085,000	908,535,000	931,207,000	809,070,000	736,087,000	698,691,000	728,413,000	676,908,000	682,325,000	654,606,000	704,216,000	533,468,000	501,437,000	477,178,000	476,027,000	243,984,000	242,172,000	235,279,000
liabilities and stockholders’ equity
current liabilities:
accounts payable	646,500,000	744,300,000	945,630,000	826,296,000	795,290,000	624,254,000	489,052,000	583,664,000	632,452,000	628,962,000	500,093,000	513,412,000	561,277,000	534,956,000	477,327,000	345,476,000	289,563,000	273,463,000	315,276,000	265,633,000	258,748,000	245,906,000	251,979,000	256,980,000	258,962,000	235,972,000	219,792,000	218,263,000	190,244,000	249,217,000	241,288,000	219,180,000	130,956,000		153,677,000	134,091,000	124,113,000		134,486,000	113,385,000	136,428,000	124,450,000	134,205,000	129,892,000	121,049,000	128,793,000	158,118,000	130,575,000	119,089,000	127,302,000	119,882,000	102,026,000	105,876,000	151,546,000	133,098,000	107,752,000	90,158,000	106,725,000	84,953,000	90,787,000	82,239,000	89,484,000	76,814,000	64,392,000	65,888,000	62,568,000	39,609,000	48,471,000	50,384,000
contract liabilities	571,900,000	633,600,000	627,312,000	674,247,000	555,248,000	617,424,000	657,101,000	483,878,000	440,180,000	366,476,000	387,767,000	417,995,000	268,070,000	275,947,000	255,524,000	250,225,000	292,421,000	240,412,000	202,116,000	213,479,000	256,478,000	267,227,000	256,021,000	223,077,000	176,847,000	192,397,000	189,664,000	197,785,000	194,094,000	189,539,000	219,232,000	195,326,000	137,380,000
accrued liabilities	390,800,000	405,400,000	499,571,000	436,820,000	360,329,000	350,077,000	386,267,000	324,732,000	283,006,000	263,492,000	321,639,000	278,432,000	224,083,000	245,837,000	269,494,000	227,319,000	193,070,000	174,821,000	234,004,000	213,942,000	216,824,000	200,673,000	223,637,000	222,472,000	192,648,000	183,501,000	219,472,000	203,235,000	165,923,000	117,527,000	130,382,000	130,479,000	99,909,000
dividends payable	4,300,000	4,300,000	4,322,000	4,321,000	4,324,000	4,298,000	3,223,000	3,217,000	3,222,000	3,202,000	3,203,000	3,199,000	3,196,000	3,187,000	3,195,000	3,192,000	3,198,000	3,192,000	3,228,000	3,224,000	3,223,000	2,887,000	2,887,000	2,893,000	2,895,000	2,919,000	3,059,000	3,058,000	3,051,000	3,043,000	3,072,000	3,092,000	3,092,000		2,829,000	2,829,000	2,829,000		2,848,000	2,847,000	2,847,000	2,842,000	2,842,000	2,841,000	2,063,000	2,062,000	2,062,000	1,808,000	1,808,000	1,805,000	1,805,000	1,805,000	1,547,000		1,542,000	1,542,000	1,537,000		1,532,000	1,276,000	1,276,000
current portion of long-term debt	57,200,000	60,900,000	63,844,000	78,076,000	68,061,000	74,633,000	76,751,000	89,270,000	89,530,000	72,903,000	85,233,000	76,151,000	77,538,000	78,137,000	80,094,000	63,116,000	65,972,000	67,230,000	68,028,000	62,397,000	61,480,000	47,722,000	47,708,000	51,913,000	52,430,000	55,659,000	60,104,000	64,651,000	66,872,000	62,488,000	63,947,000	65,376,000	63,975,000		62,697,000	58,031,000	58,087,000		53,632,000	50,159,000	52,290,000	54,436,000	47,288,000	41,249,000	41,226,000	38,909,000	35,024,000	30,683,000	27,559,000	28,475,000	26,910,000	21,967,000	20,944,000	19,446,000	16,107,000	15,244,000	13,448,000	13,870,000	9,658,000	9,546,000	9,680,000	9,623,000	8,894,000	9,694,000	6,568,000	6,482,000	5,217,000	6,046,000	4,756,000
total current liabilities	1,670,700,000	1,848,500,000	2,140,679,000	2,019,760,000	1,783,252,000	1,670,686,000	1,612,394,000	1,484,761,000	1,448,390,000	1,335,035,000	1,297,935,000	1,289,189,000	1,134,164,000	1,138,064,000	1,085,634,000	889,328,000	844,224,000	759,118,000	822,652,000	758,675,000	796,753,000	764,415,000	782,232,000	757,335,000	683,782,000	670,448,000	692,091,000	686,992,000	620,184,000	621,814,000	657,921,000	613,453,000	435,312,000	481,000	505,415,000	471,292,000	441,746,000	450,000	401,083,000	389,641,000	407,564,000	416,173,000	444,258,000	400,174,000	388,635,000	419,311,000	467,616,000	422,054,000	394,344,000	430,314,000	410,633,000	381,100,000	388,308,000	420,669,000	394,818,000	339,031,000	309,616,000	345,019,000	336,729,000	357,760,000	334,284,000	381,587,000	276,235,000	245,429,000	236,028,000	242,192,000	144,896,000	147,486,000	162,025,000
long-term debt	396,300,000	409,000,000	422,199,000	524,983,000	543,924,000	660,193,000	826,998,000	843,758,000	862,216,000	885,369,000	1,013,519,000	1,036,971,000	1,034,855,000	1,065,315,000	1,122,064,000	637,914,000	599,290,000	594,232,000	610,556,000	592,402,000	592,087,000	268,835,000	281,360,000	300,899,000	290,749,000	295,642,000	307,397,000	347,397,000	307,273,000	305,669,000	306,093,000	354,910,000	181,972,000		191,948,000	183,140,000	195,230,000		213,790,000	199,868,000	210,022,000	219,853,000	206,381,000	192,054,000	202,617,000	204,029,000	197,857,000	185,570,000	180,653,000	191,051,000	188,713,000	144,546,000	136,764,000	128,367,000	58,109,000	58,970,000	51,315,000	55,852,000	30,648,000	33,105,000	36,007,000	38,428,000	36,665,000	39,922,000	24,694,000	26,368,000	22,478,000	25,324,000	22,024,000
noncurrent operating lease liabilities, net of current portion	313,200,000	325,600,000	329,189,000	330,834,000	320,405,000	333,370,000	327,297,000	308,114,000	287,024,000	263,454,000	222,524,000	171,477,000	142,876,000	130,787,000	97,314,000	79,629,000	86,467,000	98,059,000	110,819,000	123,638,000	136,682,000	137,913,000	151,777,000	163,947,000	176,546,000	171,225,000	162,418,000	124,894,000	104,039,000
deferred tax liabilities	71,400,000	71,400,000	64,646,000	64,764,000	64,034,000	64,035,000	59,490,000	59,444,000	59,482,000	59,565,000	29,235,000	30,223,000	54,766,000	57,101,000	42,314,000	38,501,000	38,521,000	38,510,000	8,870,000	13,547,000	13,548,000	13,548,000	17,820,000	17,820,000	17,820,000	17,819,000	3,611,000	3,610,000	7,268,000	8,166,000			13,577,000		9,830,000	9,830,000	9,830,000						19,484,000	19,484,000	19,484,000	19,484,000	10,092,000	10,092,000	10,092,000	10,092,000	20,018,000	20,018,000	20,018,000	20,018,000	21,079,000	21,079,000	21,079,000	21,079,000	15,864,000	12,500,000	12,500,000	12,500,000	1,483,000	2,643,000	2,643,000	2,643,000	1,434,000	1,429,000	1,759,000
other long-term liabilities	78,000,000	72,300,000	65,407,000	61,142,000	60,133,000	58,051,000	56,119,000	54,580,000	47,930,000	47,912,000	43,150,000	44,626,000	46,946,000	43,915,000	39,003,000	35,660,000	41,173,000	63,353,000	67,708,000	69,055,000	75,000,000	70,077,000	82,791,000	68,649,000	50,762,000	45,801,000	49,289,000	41,453,000	41,617,000	51,515,000	64,652,000	68,451,000	6,090,000		13,007,000	11,623,000	9,141,000		12,790,000	11,953,000	12,063,000	12,741,000	11,332,000	9,852,000	14,119,000	12,899,000	14,543,000	12,192,000	10,405,000	14,260,000	13,243,000	11,568,000	9,913,000	13,153,000	10,104,000	8,813,000	10,913,000	10,882,000	1,862,000	1,862,000	1,562,000	4,147,000	3,985,000	1,354,000	11,350,000	9,278,000
total liabilities	2,529,600,000	2,726,800,000	3,022,120,000	3,001,483,000	2,771,748,000	2,786,335,000	2,882,298,000	2,750,657,000	2,705,042,000	2,591,335,000	2,606,363,000	2,572,486,000	2,413,607,000	2,435,182,000	2,386,329,000	1,681,032,000	1,609,675,000	1,553,272,000	1,620,605,000	1,557,317,000	1,614,070,000	1,254,788,000	1,315,980,000	1,308,650,000	1,219,659,000	1,200,935,000	1,214,806,000	1,204,346,000	1,080,381,000	987,164,000	1,028,666,000	1,036,814,000	636,951,000		720,445,000	676,055,000	655,961,000		627,680,000	601,480,000	629,678,000	648,789,000	682,662,000	622,913,000	626,334,000	657,401,000	691,927,000	631,294,000	597,317,000	652,245,000	641,450,000	566,740,000	564,369,000	598,569,000	492,822,000	436,601,000	411,845,000	453,481,000	412,915,000	436,314,000	419,751,000	495,985,000	353,723,000	341,528,000	323,708,000	332,068,000	168,808,000	174,239,000	186,900,000
commitments and contingencies
stockholders’ equity																																		562,000				499,000
common stock—0.0001 par value...			6,000	6,000	6,000	6,000	6,000	6,000	6,000	6,000	6,000	6,000	6,000	6,000	6,000
additional paid-in capital	287,700,000	296,900,000	291,715,000	287,425,000	282,006,000	285,811,000	281,563,000	278,830,000	274,711,000	275,846,000	272,800,000	269,031,000	265,817,000	263,771,000	261,816,000	262,394,000	263,486,000	261,918,000	275,155,000	274,008,000	272,584,000	89,098,000	88,363,000	91,257,000	91,414,000	97,130,000	146,765,000	146,064,000	147,208,000	144,048,000	155,051,000	162,928,000	162,701,000		160,277,000	159,761,000	159,518,000		166,662,000	165,987,000	165,534,000	163,344,000	163,067,000	162,624,000	162,359,000	160,186,000	159,920,000	162,322,000	162,050,000	159,196,000	159,058,000	158,730,000	158,639,000	155,605,000	155,605,000	155,417,000	152,968,000	150,003,000	150,003,000	149,837,000	151,867,000	136,245,000	118,779,000	105,348,000	104,738,000	100,644,000	34,796,000	34,796,000	36,121,000
retained earnings	1,398,700,000	1,385,600,000	1,338,162,000	1,247,867,000	1,167,869,000	1,127,953,000	1,078,288,000	1,023,075,000	976,749,000	961,028,000	926,569,000	881,628,000	845,795,000	847,681,000	809,369,000	769,523,000	722,561,000	727,433,000	701,210,000	660,385,000	627,320,000	624,694,000	595,769,000	554,717,000	524,655,000	531,291,000	507,269,000	474,684,000	459,959,000	461,075,000	431,764,000	402,158,000	393,547,000		376,537,000	358,779,000	340,073,000		323,594,000	321,944,000	319,740,000	319,899,000	310,191,000	294,030,000	293,236,000	293,628,000	286,765,000	261,437,000	247,242,000	238,216,000	217,540,000	197,500,000	183,741,000	175,517,000	160,038,000	144,064,000	133,873,000	124,924,000	113,985,000	96,169,000	82,983,000	71,981,000	60,961,000	54,557,000	48,577,000	42,982,000	40,165,000	33,031,000	12,152,000
accumulated other comprehensive loss	-2,400,000																										-338,000	-172,000	-534,000	-908,000
total stockholders’ equity	1,684,000,000	1,681,000,000	1,627,832,000	1,534,559,000	1,445,740,000	1,409,533,000	1,357,995,000	1,299,231,000	1,249,405,000	1,236,092,000	1,196,808,000	1,149,538,000	1,109,113,000	1,108,838,000	1,068,008,000	1,032,798,000	987,764,000	990,055,000	977,388,000	936,490,000	901,364,000	714,792,000	683,522,000	644,904,000	615,444,000	629,530,000	654,163,000	620,865,000	610,385,000	606,983,000	592,480,000	577,187,000	565,496,000		541,247,000	521,436,000	501,636,000		491,184,000	488,607,000	485,720,000	483,465,000	473,327,000	456,680,000	455,567,000	453,786,000	446,638,000	423,712,000	409,635,000	398,448,000	377,561,000	358,345,000	344,166,000	332,638,000	316,248,000	299,486,000	286,846,000	274,932,000	263,993,000	246,011,000	234,855,000	208,231,000	179,745,000	159,909,000	153,470,000	143,959,000	75,176,000	67,933,000	48,379,000
total liabilities and stockholders’ equity	4,213,600,000	4,407,800,000	4,649,952,000	4,536,042,000	4,217,488,000	4,195,868,000	4,240,293,000	4,049,888,000	3,954,447,000	3,827,427,000	3,803,171,000	3,722,024,000	3,522,720,000	3,544,020,000	3,454,337,000	2,713,830,000	2,597,439,000	2,543,327,000	2,597,993,000	2,493,807,000	2,515,434,000	1,969,580,000	1,999,502,000	1,953,554,000	1,835,103,000	1,830,465,000	1,868,969,000	1,825,211,000	1,690,766,000	1,594,147,000	1,621,146,000	1,614,001,000	1,202,447,000		1,261,692,000	1,197,491,000	1,157,597,000		1,118,864,000	1,090,087,000	1,115,398,000	1,132,254,000	1,155,989,000	1,079,593,000	1,081,901,000	1,111,187,000	1,138,565,000	1,055,006,000	1,006,952,000	1,050,693,000	1,019,011,000	925,085,000	908,535,000	931,207,000	809,070,000	736,087,000	698,691,000	728,413,000	676,908,000	682,325,000	654,606,000	704,216,000	533,468,000	501,437,000	477,178,000	476,027,000	243,984,000	242,172,000	235,279,000
accumulated other comprehensive income		-1,500,000	-2,051,000	-739,000	-4,141,000	-4,237,000	-1,862,000	-2,680,000	-2,061,000	-788,000	-2,567,000	-1,127,000	-2,505,000	-2,620,000	-3,183,000	875,000	1,711,000	698,000	974,000	2,051,000	1,419,000	958,000	-651,000	-1,109,000	-1,661,000	76,000					577,000	377,000																																	152,000	330,000	212,000	103,000	103,000
deferred tax assets															7,214,000	1,286,000	1,341,000	1,307,000	1,919,000	1,971,000	1,934,000	1,909,000	1,134,000	1,116,000	1,090,000	1,100,000	888,000	903,000	1,492,000	1,457,000	13,441,000	8,887,000											13,555,000	13,555,000	13,555,000	13,555,000	13,133,000	13,133,000	13,133,000	13,133,000	10,477,000	10,477,000	10,477,000	10,477,000	10,659,000	10,659,000	10,659,000	10,659,000	10,397,000	9,533,000	9,533,000	9,533,000	6,068,000	5,630,000	5,630,000	5,630,000
common stock—.0001 par value...																6,000	6,000	6,000	6,000	6,000	6,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000		5,000	5,000	5,000		5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	4,000	3,000	3,000	3,000	3,000
noncontrolling interest																			43,000	40,000	35,000	37,000	36,000	34,000	1,031,000	1,028,000	462,000	284,000	3,747,000	2,763,000	5,083,000	11,719,000	9,243,000																						600,000
restricted cash																																35,492,000																																9,310,000	6,931,000	6,845,000	6,536,000	8,326,000	13,022,000
note receivable																																	10,000,000
balance sheet data:
short term investments																																																			3,179,000	3,428,000	3,179,000	3,441,000	6,380,000			23,000,000	23,000,000	23,000,000	23,000,000	26,000,000	26,000,000	33,000,000	29,000,000	30,058,000
long-term debt/capital leases, net of current portion																																		194,000				203,000
business unit
arb industrial
arb structures
primoris power
primoris renewable energy
primoris industrial constructors
primoris fabrication
primoris mechanical contractors
onquest
onquest canada
primoris design and construction (“pd&c”); created 2017
rockford corporation
vadnais trenchless services
primoris field services
primoris pipeline
primoris coastal field services; created 2017
arb underground
q3 contracting
primoris av
primoris distribution services ("pds"); created 2017
primoris heavy civil
primoris i&m
primoris build own operate
short-term investments																																			19,304,000										30,494,000	30,992,000	2,080,000	2,280,000	17,326,000	18,686,000																	5,016,000	15,091,000
customer retention deposits																																			926,000	906,000	377,000																								15,599,000	12,518,000	9,178,000
costs and estimated earnings in excess of billings																																			177,662,000	158,741,000	129,614,000		156,391,000	133,606,000	140,610,000	116,455,000	116,517,000	109,537,000	85,120,000	68,654,000	96,150,000	88,111,000	75,067,000	57,146,000	80,434,000	70,288,000	48,164,000	41,701,000	63,931,000	45,473,000	33,012,000	41,866,000	60,474,000	33,584,000	25,447,000	17,275,000	23,299,000	22,091,000	16,187,000	11,378,000	22,369,000	20,870,000	22,837,000
inventory and uninstalled contract materials																																			39,617,000	42,318,000	45,130,000		55,294,000	61,833,000	67,285,000	67,796,000	65,392,000	65,248,000	60,677,000	58,116,000	58,271,000	61,230,000	58,681,000	51,829,000	43,616,000	38,339,000	37,917,000	37,193,000	37,334,000	34,881,000
billings in excess of costs and estimated earnings																																			159,120,000	158,698,000	150,771,000		98,291,000	122,291,000	125,658,000	139,875,000	144,837,000	138,176,000	145,982,000	158,595,000	164,428,000	158,097,000	147,301,000	173,365,000	147,464,000	162,570,000	160,944,000	158,892,000	145,582,000	131,688,000	131,144,000	137,729,000	145,554,000	171,545,000	168,379,000	205,268,000	122,311,000	117,572,000	113,397,000	114,035,000	73,037,000	67,309,000	72,743,000
accrued expenses and other current liabilities																																			125,626,000	116,244,000	105,839,000		111,473,000	100,449,000	89,000	93,596,000	113,589,000	85,960,000	75,887,000	83,401,000	100,052,000	93,258,000	91,559,000	91,079,000	101,881,000	80,349,000	75,996,000	76,152,000	84,783,000	66,292,000	59,860,000	59,923,000	71,381,000	65,869,000	53,541,000	55,126,000	39,205,000	37,819,000	35,716,000	34,992,000	25,128,000	23,266,000	25,202,000
current portion of capital leases																																			214,000	186,000	107,000		353,000	510,000	699,000	974,000	1,148,000	1,319,000	1,509,000	1,650,000	1,796,000	2,230,000	2,681,000	3,288,000	3,928,000	4,335,000	4,273,000	3,733,000	3,656,000	3,535,000	3,322,000	6,623,000	4,537,000	3,304,000	3,957,000	4,286,000	3,153,000	3,537,000	3,859,000	4,220,000	1,093,000	1,582,000	1,915,000
current portion of contingent earnout liabilities																																			1,252,000	1,213,000							349,000	737,000	919,000	5,901,000	6,136,000	5,403,000	4,347,000	5,000,000	8,763,000	8,048,000	18,728,000	10,900,000	10,050,000	9,755,000	6,924,000	3,450,000	3,450,000
long-term capital leases, net of current portion																																			245,000	170,000	14,000		17,000	18,000	29,000	22,000	105,000	274,000	431,000	657,000	1,009,000	1,386,000	1,823,000	2,295,000	2,760,000	3,584,000	3,469,000	3,831,000	3,833,000	4,089,000	4,303,000	4,047,000	7,499,000	5,656,000	6,511,000	7,354,000	5,948,000	6,512,000	7,130,000	7,734,000			1,092,000
non-controlling interest																																			4,428,000	2,891,000	2,040,000		923,000	671,000		217,000								1,031,000				1,511,000
subsidiary
arb, inc.
arb structures, inc.
q3 contracting, inc.
vadnais trenchless services, inc.
cardinal contractors, inc.
bw primoris, llc
james construction group, llc
jcg heavy civil division
jcg infrastructure and maintenance division
primoris energy services corporation
pes pipeline services
pes industrial division
onquest, inc.
onquest canada, ulc
primoris aevenia, inc.
customer retention deposits and restricted cash																																							3,049,000	3,033,000	2,839,000	2,598,000	2,064,000	1,385,000	823,000	481,000	411,000	56,000	55,000	5,304,000	15,377,000	27,503,000	27,371,000	35,377,000	34,814,000	40,168,000	35,376,000	31,490,000	21,369,000	17,519,000
deferred tax asset - long-term																																							1,075,000	1,075,000
deferred tax asset — long-term																																									1,075,000	1,075,000
noncontrolling interests																																									441,000		64,000	21,000					338,000		958,000	2,110,000	1,781,000
deferred tax liabilities — long-term
long-term contingent earnout liabilities, net of current portion																																											1,102,000	1,075,000	1,048,000	1,021,000	810,000			4,233,000	6,083,000	5,924,000	5,897,000	12,531,000	4,879,000	2,842,000
preferred stock—.0001 par value...
investment in non-consolidated entities																																																			6,546,000	12,724,000	13,082,000	12,813,000	12,322,000	12,481,000			17,051,000	18,034,000	18,543,000		19,274,000	3,133,000	2,174,000		2,773,000	1,333,000
other long term assets																																																		468,000
current portion of subordinated debt																																																								3,223,000	3,223,000	15,167,000	14,931,000	14,700,000	14,479,000	15,833,000	23,952,000	10,575,000	9,165,000	10,397,000
long-term subordinated debt, net of current portion																																																								1,777,000	2,417,000	7,334,000	11,216,000	15,037,000	18,799,000	27,378,000	19,164,000	35,758,000	41,863,000	43,853,000
inventory																																																									33,028,000	31,926,000	32,444,000	28,735,000	22,248,000	25,599,000	22,618,000	19,922,000	24,683,000	22,275,000
investment in non-consolidated ventures																																																									12,527,000	12,687,000				18,805,000				5,599,000
contingent earnout liabilities																																																									12,202,000		9,097,000	10,394,000	10,088,000		10,243,000	9,910,000
distributions and dividends payable																																																										1,532,000				1,234,000	1,173,000	1,107,000	1,102,000	2,987,000	812,000	812,000
contingent consideration liabilities																																																										9,268,000				24,591,000
liabilities of discontinued operations																																																											733,000	733,000
current liabilities of discontinued operations																																																													733,000	733,000	733,000	733,000	333,000	6,511,000
current assets from discontinued operations																																																																		5,304,000
other assets																																																																			24,000	255,000	364,000
other intangible assets																																																																		32,695,000		34,000
non-current assets of discontinued operations
deferred income taxes																																																																			6,182,000	5,591,000	4,528,000
prepaid expenses, inventory and other current assets																																																																			4,256,000	4,385,000
inventory, prepaid expenses and other current assets																																																																					3,585,000
investment in non-consolidated joint ventures																																																																					531,000
goodwill and other intangible assets																																																																					2,932,000
distributions payable																																																																					7,025,000
preferred stock - .0001 par value...
common stock - .0001 par value...																																																																					3,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30

cash flows from operating activities:
net income	17,400,000	51,724,000	94,618,000	84,318,000	44,240,000	53,966,000	58,436,000	49,543,000	18,943,000	37,659,000	48,144,000	39,032,000	1,310,000	41,501,000	43,040,000	50,154,000	-1,674,000	29,540,000	44,056,000	36,295,000	5,848,000	31,812,000	43,943,000	32,962,000	-3,734,000	27,511,000	35,826,000	17,824,000	2,936,000	34,381,000	34,805,000	14,191,000	4,216,000	23,808,000	22,134,000	22,396,000	8,512,000	14,766,000	4,756,000	5,287,000	2,916,000	12,708,000	19,079,000	3,692,000	1,672,000	9,024,000	27,390,000	16,003,000	11,265,000	25,554,000	23,193,000	15,893,000	10,040,000	17,932,000	18,116,000	11,733,000	10,486,000	12,471,000	19,348,000	14,462,000	12,278,000	12,254,000	7,577,000	7,087,000	6,698,000	17,965,000	-633,000
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	23,800,000	24,175,000	23,826,000	22,502,000	21,397,000	22,574,000	22,674,000	25,693,000	24,581,000	25,587,000	26,700,000	27,021,000	27,733,000	29,809,000	28,570,000	20,606,000	20,172,000	26,694,000	27,163,000	26,850,000	24,852,000	23,769,000	19,497,000	19,434,000	19,797,000																																										31,000
stock-based compensation expense	7,700,000	5,691,000	4,454,000	5,428,000	5,027,000	4,783,000	3,988,000	3,954,000	2,406,000	2,878,000	3,567,000	3,009,000	2,379,000	1,693,000	1,753,000	2,442,000	1,553,000	1,316,000	1,661,000	1,333,000	6,152,000	544,000	528,000	703,000	499,000	361,000	360,000	371,000	487,000	505,000	318,000	215,000	215,000	215,000	221,000	231,000	459,000	458,000	459,000	448,000	262,000
gain on sale of property and equipment	-5,000,000	-3,055,000	-8,784,000	-3,939,000	-5,922,000	-6,296,000	-12,253,000	-17,096,000	-9,141,000	-18,501,000	-14,868,000	-8,937,000	-5,798,000	-13,903,000	-8,015,000	-5,434,000	-4,538,000	-2,846,000	-5,965,000	-4,367,000	-2,743,000	-1,861,000	1,134,000	-5,021,000	-2,311,000	-4,930,000	-2,304,000	-2,496,000	-2,217,000	-344,000	-1,632,000	-476,000	-1,104,000	-554,000	-672,000	-1,900,000	-1,308,000	-1,316,000	-1,068,000
other non-cash items	600,000	538,000	564,000	558,000	540,000	853,000	537,000	600,000	2,149,000	635,000	564,000	491,000	491,000	-1,600,000	1,298,000	234,000	345,000	558,000	257,000	415,000	151,000	-3,751,000	1,302,000	1,002,000	1,821,000	80,000	80,000	80,000	80,000	95,000	112,000	28,000	40,000
changes in assets and liabilities:
accounts receivable	-31,400,000	317,110,000	-20,033,000	-265,030,000	79,253,000	95,546,000	-54,768,000	-79,063,000	-129,344,000	168,930,000	-31,799,000	-82,077,000	-71,939,000	24,143,000	-17,177,000	-131,381,000	25,691,000	80,199,000	-81,016,000	1,036,000	10,321,000	61,706,000	-25,881,000	-51,949,000	-13,911,000	149,702,000	-79,978,000	-73,242,000	-24,722,000	99,731,000	-97,150,000	-12,338,000	30,669,000	-1,324,000	-1,922,000	25,567,000	18,225,000	-92,899,000	24,579,000					-19,633,000	41,236,000				15,831,000			-1,171,000	18,174,000			-17,484,000	38,297,000	-29,454,000	-2,802,000	-8,303,000	61,326,000					2,120,000
contract assets	19,400,000	22,452,000	-38,719,000	19,315,000	-165,248,000	23,160,000	67,470,000	-1,442,000	-26,511,000	-101,466,000	42,119,000	-87,696,000	-82,783,000	29,238,000	-84,404,000	-17,668,000	-45,972,000	-12,737,000	-26,529,000	-20,187,000	-7,546,000	36,071,000	15,982,000	-17,083,000	-15,682,000	-12,597,000	83,322,000	-48,720,000	-2,328,000	18,224,000	-21,743,000	-67,044,000	2,970,000
other current assets	21,400,000	6,354,000	-6,689,000	-433,000	-31,232,000	25,455,000	-1,893,000	-5,745,000	562,000	12,617,000	5,670,000	-2,545,000	29,836,000	28,214,000	-44,347,000	-21,572,000	-32,570,000	-32,930,000	-1,777,000	-5,343,000	-14,675,000	2,781,000	12,975,000	1,581,000	-4,849,000	-8,467,000	-4,090,000	7,540,000	-2,231,000	-13,339,000	17,097,000	320,000	-6,356,000	-234,000	5,290,000	6,395,000	5,525,000	3,800,000	11,157,000																269,000
other long-term assets	-900,000	433,000	-1,672,000	1,774,000	-435,000	1,084,000	1,195,000	-1,590,000	-650,000	-174,000	1,863,000	-1,378,000	148,000	-1,043,000	15,093,000	-292,000	-12,826,000	-2,160,000	658,000	-28,000	-153,000	1,097,000	850,000	19,000	204,000	1,082,000	304,000	-319,000	182,000	1,201,000	-458,000	0	-499,000	2,773,000	-3,125,000	527,000	-147,000	171,000	-1,216,000
accounts payable	-98,000,000	-201,202,000	117,933,000	31,966,000	172,303,000	150,458,000	-94,554,000	-48,542,000	4,022,000	128,288,000	-12,896,000	-48,241,000	26,282,000	57,801,000	70,854,000	50,763,000	12,114,000	-41,997,000	50,798,000	6,714,000	186,000	-6,956,000	-5,364,000	-2,037,000	23,934,000	15,863,000	1,648,000	27,793,000	-59,198,000	8,224,000	21,984,000	12,102,000	-9,987,000	-12,734,000	19,247,000	6,937,000	-43,997,000	32,898,000	21,101,000	-23,043,000	11,978,000		4,313,000			-29,326,000	26,974,000							13,905,000								-1,855,000	12,422,000	-1,496,000	3,320,000
contract liabilities	-61,700,000	6,318,000	-46,888,000	118,946,000	-62,176,000	-39,448,000	173,226,000	43,700,000	73,710,000	-21,297,000	-30,160,000	148,202,000	-12,000,000	2,495,000	-20,162,000	-42,171,000	51,969,000	38,710,000	-11,133,000	-43,063,000	-13,625,000	11,109,000	32,898,000	46,173,000	-15,389,000	2,694,000	-8,120,000	1,615,000	2,590,000	-32,740,000	7,159,000	13,501,000	-31,721,000
operating lease assets and liabilities	-3,200,000	945,000	-2,356,000	1,425,000	-2,014,000	-1,398,000	885,000	742,000	-5,530,000	-4,308,000	760,000	3,617,000	-1,263,000	391,000	192,000	-833,000	-255,000	-1,217,000	443,000	-488,000	-1,343,000	-2,503,000	3,801,000	-670,000	119,000	-1,702,000	-571,000	529,000	-1,447,000
accrued liabilities	-18,500,000	-102,892,000	63,302,000	60,427,000	7,063,000	-40,163,000	54,030,000	37,680,000	14,841,000	-58,014,000	35,145,000	46,602,000	-30,565,000	-34,309,000	5,084,000	39,456,000	-4,524,000	-46,027,000	15,061,000	3,860,000	2,406,000	-16,252,000	14,269,000	22,304,000	-179,000	-40,586,000	4,181,000	23,144,000	-9,663,000	-10,467,000	2,753,000
other long-term liabilities	5,800,000	6,984,000	3,344,000	1,196,000	3,376,000	2,324,000	2,045,000	7,202,000	2,160,000	832,000	-868,000	619,000	363,000	6,221,000	-1,656,000	-235,000	-12,000	3,861,000	-3,447,000	-3,976,000	-1,034,000	-10,944,000	15,945,000	18,763,000	-756,000	-5,708,000	4,589,000	-239,000	1,735,000	-6,193,000	3,778,000	1,289,000	231,000	-3,698,000	1,384,000	2,615,000	77,000	-3,726,000	837,000											1,017,000												452,000	2,631,000	-718,000	2,072,000
net cash from operating activities	-122,600,000	142,875,000	182,900,000	78,453,000	66,172,000	298,259,000	222,451,000	16,067,000	-28,464,000	205,699,000	73,685,000	34,505,000	-115,337,000	185,381,000	-10,922,000	-97,690,000	6,577,000	64,852,000	9,302,000	-1,921,000	7,514,000	120,448,000	130,828,000	66,118,000	-5,467,000	158,097,000	56,408,000	-24,428,000	-72,096,000	139,688,000	-12,157,000	-4,376,000	3,660,000	27,510,000	45,143,000	67,201,000	49,088,000	11,960,000	45,119,000						2,018,000					57,078,000				79,121,000	-20,431,000	623,000	39,080,000	15,091,000	-26,881,000			71,727,000	4,969,000
capital expenditures	-27,800,000	-21,734,000	-34,463,000	-33,113,000	-40,590,000	-28,217,000	-63,701,000	-24,203,000	-10,434,000	-20,505,000	-40,108,000	-28,545,000	-13,847,000	-18,994,000	-9,881,000	-32,650,000	-33,165,000	-31,709,000	-39,378,000	-43,677,000	-19,078,000	-9,953,000	-32,701,000	-12,392,000	-9,311,000	-16,239,000	-21,348,000	-42,530,000	-14,377,000	-29,423,000	-34,659,000	-26,982,000	-19,125,000	-22,436,000	-12,649,000	-25,475,000	-19,222,000	-5,890,000	-9,997,000						0					0				0	0	0	0	0	0			0	0
free cash flows	-150,400,000	121,141,000	148,437,000	45,340,000	25,582,000	270,042,000	158,750,000	-8,136,000	-38,898,000	185,194,000	33,577,000	5,960,000	-129,184,000	166,387,000	-20,803,000	-130,340,000	-26,588,000	33,143,000	-30,076,000	-45,598,000	-11,564,000	110,495,000	98,127,000	53,726,000	-14,778,000	141,858,000	35,060,000	-66,958,000	-86,473,000	110,265,000	-46,816,000	-31,358,000	-15,465,000	5,074,000	32,494,000	41,726,000	29,866,000	6,070,000	35,122,000						2,018,000					57,078,000				79,121,000	-20,431,000	623,000	39,080,000	15,091,000	-26,881,000			71,727,000	4,969,000
cash flows from investing activities:
purchase of property and equipment	-27,800,000	-21,734,000	-34,463,000	-33,113,000	-40,590,000	-28,217,000	-63,701,000	-24,203,000	-10,434,000	-20,505,000	-40,108,000	-28,545,000	-13,847,000	-18,994,000	-9,881,000	-32,650,000	-33,165,000	-31,709,000	-39,378,000	-43,677,000	-19,078,000	-9,953,000	-32,701,000	-12,392,000	-9,311,000	-16,239,000	-21,348,000	-42,530,000	-14,377,000	-29,423,000	-34,659,000	-26,982,000	-19,125,000	-22,436,000	-12,649,000	-25,475,000	-19,222,000	-5,890,000	-9,997,000
proceeds from sale of assets	7,100,000	5,484,000	12,424,000	7,180,000	7,412,000	1,876,000	23,517,000	59,309,000	14,621,000	16,116,000	24,114,000	16,088,000	7,377,000	22,065,000	8,053,000	6,830,000	4,354,000	6,060,000
proceeds from repayment of note receivable	8,000,000	554,000
net cash from investing activities	-12,700,000	-15,696,000	-19,093,000	-25,933,000	-33,178,000	-26,341,000	-40,184,000	35,106,000	4,187,000	-4,389,000	-15,994,000	-3,157,000	-6,470,000	3,071,000	-440,635,000	-11,501,000	-32,874,000	-25,649,000	-6,424,000	-28,984,000	-630,211,000	-5,812,000	-27,077,000	-7,208,000	-2,409,000	-12,011,000	-18,151,000	-25,732,000	-9,979,000	-27,011,000	-30,815,000	-125,935,000	-25,391,000	-1,672,000	-23,524,000	-89,000,000	-17,238,000	-10,939,000	-7,957,000																		2,519,000
cash flows from financing activities:
payments on long-term debt	-16,800,000	-16,662,000	-129,967,000	-59,378,000	-123,293,000	-168,592,000	-29,730,000	-19,170,000	-6,978,000	-30,932,000	-14,821,000	-19,723,000	-31,511,000	-9,018,000	-21,794,000	-29,495,000	-26,462,000
payments related to tax withholding for stock-based compensation	-17,700,000	-805,000	-791,000	-293,000	-9,911,000	-882,000	-1,819,000	-133,000	-4,639,000
dividends paid	-4,300,000	-4,357,000	-4,322,000	-4,323,000	-4,298,000	-3,226,000	-3,217,000	-3,222,000	-3,202,000	-3,201,000	-3,199,000	-3,196,000	-3,187,000	-3,195,000	-3,193,000	-3,198,000	-3,192,000	-3,231,000	-3,224,000	-3,223,000	-2,887,000	-2,887,000	-2,893,000	-2,895,000	-2,919,000	-3,059,000	-3,058,000	-3,051,000	-3,043,000	-3,072,000	-3,092,000	-3,092,000	-3,087,000	-2,829,000	-2,829,000	-2,829,000	-2,839,000	-2,848,000	-2,847,000
other	200,000	126,000	-286,000	305,000	-545,000	2,364,000	-152,000	-853,000	-907,000	-1,123,000	-1,570,000	-1,105,000	-2,392,000	-946,000	-1,864,000	-1,089,000	-1,994,000	-1,643,000	-2,079,000	-1,676,000	-3,283,000	-883,000	-874,000	-729,000	-1,285,000	-456,000	-289,000	-13,000	-26,000
net cash from financing activities	-38,600,000	-21,698,000	-122,866,000	-14,472,000	-137,264,000	-170,336,000	-34,918,000	-23,998,000	-15,106,000	-145,256,000	-18,909,000	-4,513,000	-36,601,000	-63,309,000	489,152,000	27,426,000	-1,226,000	-36,972,000	18,453,000	-4,212,000	508,464,000	-16,851,000	-30,706,000	3,929,000	-19,195,000	-69,768,000	-47,948,000	29,762,000	4,670,000	-20,922,000	-71,877,000	171,220,000	-14,482,000	1,312,000	9,940,000	-15,010,000	-19,188,000	-13,865,000	14,390,000						97,000	7,422,000				-2,121,000	43,551,000	6,115,000	10,348,000
effect of exchange rate changes on cash, cash equivalents and restricted cash	-200,000	-1,465,000	178,000	976,000	11,000	1,564,000	-2,054,000	1,968,000	-314,000	942,000	-600,000	1,025,000	-79,000	822,000	-879,000	-547,000	502,000
net change in cash, cash equivalents and restricted cash	-174,100,000	104,016,000	41,119,000	39,024,000	-104,259,000	103,146,000	145,295,000	29,143,000	-39,697,000	56,996,000	38,182,000	27,860,000	-158,487,000	125,965,000	36,716,000	-82,312,000	-27,021,000
cash, cash equivalents and restricted cash at beginning of the period	541,300,000		0	0	461,429,000		0	0	223,542,000		0	0	258,991,000		0	0	205,643,000
cash, cash equivalents and restricted cash at end of the period	367,200,000		41,119,000	39,024,000	357,170,000		145,295,000	29,143,000	183,845,000		38,182,000	27,860,000	100,504,000		36,716,000	-82,312,000	178,622,000
unrealized loss on interest rate swap						363,000			-662,000				469,000					-1,676,000	-928,000	-972,000	-1,283,000	-1,094,000	-1,051,000	-63,000	4,970,000
net deferred tax liabilities
cash paid for acquisitions, net of cash and restricted cash acquired										0	0			0																410,000	0
borrowings under revolving lines of credit										0	50,223,000	315,000,000	75,000,000
payments on revolving lines of credit										-120,000,000	-50,223,000	-295,000,000	-75,000,000
proceeds from issuance of long-term debt														0	439,531,000	0	30,000,000	0	40,719,000	21,000,000	400,000,000	0	0	27,073,000	6,800,000	0	31,903,000	0	23,105,000	16,500,000	220,000,000			25,000,000				15,000,000				32,950,000	31,328,000	0	11,000,000	18,819,000	24,300,000			10,574,000	54,671,000	26,248,000	16,116,000	77,800,000	3,895,000			41,500,000	0			7,500,000	0
proceeds from pledge of accounts receivable under securitization facility		0	12,500,000
cash, cash equivalents and restricted cash at beginning of the year
cash, cash equivalents and restricted cash at end of the year
unrealized gain on interest rate swap										2,604,000	-256,000				-1,045,000	-1,675,000	-2,896,000
proceeds from issuance of common stock					783,000				620,000	0			489,000	-11,000			422,000	0	-5,000	-151,000	178,863,000																																		0	-745,000	1,985,000		166,000	0	822,000
adjustments to reconcile net income to net cash from operating activities
gain on sale and leaseback transaction														0	0
proceeds from sale and leaseback transaction, net of related expenses														0	0
debt issuance costs														0				0	0	0	-4,876,000
purchase of common stock														0	-2,620,000
borrowings under revolving line of credit															85,000,000			0	0	0	100,000,000					0	72,880,000	100,000,000	40,000,000	20,000,000	0
payments on revolving line of credit																		0	0	0	-100,000,000					0	-127,880,000	-45,000,000	-40,000,000	-20,000,000
borrowings under canadian credit facility															7,564,000
payments under canadian credit facility															-7,425,000
cash paid for acquisitions, net of cash acquired																-35,568,000	-4,063,000	0	0	6,250,000	-613,224,000
purchase of common stock from a related party
repayment of long-term debt																			-16,958,000	-20,162,000	-59,353,000	-12,563,000	-23,852,000	-17,493,000	-14,976,000	-16,253,000	-21,504,000	-17,150,000	-17,170,000					-20,728,000	-16,526,000	-12,146,000	-12,416,000	-20,852,000	-12,605,000
cash distribution to noncontrolling interest holders																						0	0			0	0
repurchase of common stock																						-494,000	-2,616,000	-950,000	-7,393,000					-11,521,000				0	0	0	-4,999,000
effect of exchange rate changes on cash and cash equivalents																			-285,000	326,000	259,000	413,000	-169,000	-643,000	259,000	131,000	-586,000	527,000	327,000	-731,000
net change in cash and cash equivalents																			21,046,000	-34,791,000	-113,974,000	98,198,000	72,876,000	62,196,000	-26,812,000	76,449,000	-10,277,000	-19,871,000	-77,078,000	91,024,000			-36,213,000	27,150,000	31,559,000	-36,809,000	12,662,000	-12,844,000	51,552,000											22,043,000							14,174,000			3,901,000	15,951,000					-3,409,000	19,909,000
cash and cash equivalents at beginning of the period																			0	0	326,744,000		0	0	120,286,000		0	0	151,063,000	0			170,385,000	0	0	0	135,823,000	0			161,122,000		0	0	139,465,000		0	0	196,077,000		0	0	157,551,000		0	0	120,306,000		0	0	115,437,000		0				656,000
cash and cash equivalents at end of the period																			21,046,000	-34,791,000	212,770,000		72,876,000	62,196,000	93,474,000		-10,277,000	-19,871,000	73,985,000	91,024,000			134,172,000	27,150,000	31,559,000	-36,809,000	148,485,000	-12,844,000			98,809,000		3,454,000	-20,048,000	106,018,000		-16,027,000	10,557,000	149,620,000		60,257,000	-27,750,000	141,527,000		-42,632,000	-15,194,000	134,480,000		-39,545,000	3,901,000	131,388,000		-5,689,000	3,994,000	83,289,000		20,565,000
proceeds from sale of property and equipment																				8,443,000	2,091,000	4,141,000	5,624,000	5,184,000	6,902,000	4,228,000	3,197,000	16,798,000	4,398,000	2,002,000	3,844,000	2,077,000	3,734,000	1,709,000	2,363,000	2,680,000	1,984,000	1,840,000	2,040,000	2,417,000	3,306,000	3,750,000	2,537,000	779,000	2,823,000	1,966,000	831,000	1,626,000	1,391,000	1,311,000	4,879,000	453,000	1,222,000	1,352,000	952,000	2,796,000	3,935,000	1,070,000	1,376,000	782,000	215,000	661,000	293,000	575,000	1,438,000	1,702,000	2,178,000
issuance of a note receivable																														0	0	-5,000,000	-10,000,000
proceeds from a note receivable																														0	0
proceeds from issuance of common stock purchased under a long-term incentive plan																						0	0	0	578,000	0	0	0	1,804,000	0	0	0	1,498,000	0	0						1,439,000		0	0	1,621,000		0	0	1,671,000
payment of taxes on conversion of restricted stock units																						-24,000	-471,000			0	0
payment of contingent earnout liability																														0
repurchase of common stock from a related party
cash and cash equivalents at beginning of the year
cash and cash equivalents at end of the year
depreciation																										18,095,000	18,226,000	18,758,000	18,952,000	20,240,000	17,694,000	15,646,000	14,368,000	14,550,000	14,925,000	14,005,000	14,134,000	15,003,000	15,580,000	15,569,000	15,281,000	14,956,000	14,940,000	14,658,000	13,854,000	13,792,000	13,185,000	12,232,000	11,709,000	11,418,000	11,091,000	10,422,000	9,490,000	8,361,000	7,162,000	7,133,000	6,424,000	6,266,000	5,795,000	6,140,000	5,903,000		4,272,000	4,131,000	4,172,000
amortization of intangible assets																										2,752,000	2,935,000	2,934,000	2,748,000	3,015,000	3,126,000	2,737,000	2,424,000	2,505,000	2,573,000	1,884,000	1,727,000	1,582,000	1,776,000	1,615,000	1,624,000	1,711,000	1,712,000	1,719,000	1,651,000	1,872,000	1,945,000	1,844,000	1,843,000	1,891,000	1,891,000	1,891,000	1,794,000	1,874,000	1,476,000	1,447,000	1,746,000	2,114,000	2,053,000	2,767,000	2,765,000		1,414,000	1,496,000	1,381,000
intangible asset impairment
gain on short-term investments
purchase of short-term investments																																		0
sale of short-term investments																																		19,055,000								0	0	30,494,000	498,000	1,333,000	1,445,000	16,740,000	1,946,000	1,566,000	1,694,000	987,000	3,201,000	3,428,000	0	0	23,000,000		13,000,000	0	26,000,000						0
goodwill and intangible asset impairment																																		0
cash distribution to non-controlling interest holders																														-4,334,000
repayment of long-term debt and capital leases																															-99,315,000	-15,155,000	-12,893,000
payment of debt issuance cost
accrued expenses and other current liabilities																																	-1,806,000	-18,830,000	9,704,000	9,546,000	-1,392,000	-4,088,000	11,243,000			-19,983,000	27,892,000				6,069,000	1,698,000	1,534,000	-10,802,000	22,372,000			-17,512,000	14,291,000			-12,290,000	5,512,000			2,957,000	-650,000	2,344,000	724,000
customer retention deposits																																		-74,000	-20,000	-529,000	104,000
costs and estimated earnings in excess of billings																																		17,570,000	-18,892,000	-28,576,000	9,004,000	17,773,000	-22,785,000																		9,494,000
billings in excess of costs and estimated earnings																																		-86,000	276,000	7,626,000	38,165,000	14,065,000	-24,000,000													1,626,000	2,052,000	13,310,000								47,549,000	4,739,000
contingent earnout liabilities																																																					356,000				208,000	171,000	2,153,000	306,000	297,000		333,000
cash paid for acquisitions																																		0	0			-6,889,000	0
repayment of capital leases																																		-131,000	-74,000	-35,000	-82,000	-167,000	-158,000
payment of debt issuance costs for amended and restated credit agreement																																		0
cash distribution to non-controlling interest holder
unrealized gain on short-term investments
proceeds from issuance of common stock purchased by management under long-term incentive plan																																					1,148,000	1,000	0											0	0	0	1,455,000
income from non-consolidated entities
cash received for the sale of equity method investments
impairment of goodwill
customer retention deposits and restricted cash																																							-16,000							-70,000	-355,000	-1,000	5,249,000	10,073,000	12,126,000	-132,000	8,006,000
cash and cash equivalents at beginning of year
loss on sale of property and equipment																																													510,000								48,000					144,000			114,000
adjustments to reconcile net income to net cash from (used in) operating activities:
goodwill & intangible asset impairment
(income) from non-consolidated entities
impairment expense for non-consolidated entities																																																		1,682,000
other than temporary basis difference for non-consolidated entities
distributions received from non-consolidated entities
other long term assets
net cash provided by operating activities
cash received from the sale of equity method investments
net cash provided by financing activities																																										17,527,000
stock—based compensation expense																																											263,000	262,000	262,000		262,000	272,000	137,000		138,000
cash received for the sale of alvah
cash paid for acquisition
cash received for the sale of alvah minority interest																																																	1,189,000
repayment of subordinated debt
adjustments to reconcile net income to net cash provided by operating activities:
non-consolidated entity distributions																																																			3,041,000				0	0	1,260,000		3,062,000	4,909,000	1,088,000		3,290,000	797,000	4,393,000
cash received for the sale of alvah and wespac
adjustments to reconcile net income to net cash provided by (used in) operating activities:
loss from non-consolidated entities
purchase of unit purchase option
payment of accumulated earnings to non-controlling interest holder
inventory, prepaid expenses and other current assets																																																									3,946,000				7,309,000
goodwill and intangible impairment
investment in non-consolidated entities
cash acquired with acquisitions
net cash from by investing activities
proceeds from issuance of common stock for warrants
stock issued to foreign managers																																																																	390,000
repurchase of warrants
cash distributions to former james shareholders
cash flows from discontinued operations — operating activities
net deferred tax (assets) liabilities
net cash from (used by) financing activities
merger related stock expense
income from non-consolidated investments
distributions received from joint venture
loss on discontinued operations
other assets																																																																		3,000
purchase of short term investments																																																																	1,058,000
sale of short term investments
investment in joint venture
dividends
cash distributions to former primoris stockholders
cash flows from discontinued operations:
operating activities
investing activities
net cash from discontinued operations
proceeds from exercise of warrants for the issuance of common stock																																																															13,708,000	1,010,000	3,104,000
cash distributions to james shareholders
net cash from (used by) operating activities																																																													30,697,000
stock issued for business acquired																																																																	600,000
depreciation and amortization of intangible assets
loss from non-consolidated investments
cash paid for acquisition of subsidiaries
cash acquired with acquisition of subsidiary
net cash provided (used in) investing activities
financing activities
net deferred taxes
investment in wespac joint venture
advances to non-consolidated entities
cash distributions to selling stockholders
restricted cash																																																																		-79,000
net cash provided (used) in financing activities
net cash provided (used) in discontinued operations
cash and cash equivalents at beginning of period																																																																	90,004,000
proceeds from short-term borrowings
adjustments to reconcile net income to net cash provided by: operating activities:
amortization of other intangible assets																																																																			1,000
prepaid expenses, inventory and other current assets																																																																			-4,573,000
deferred income tax
net cash provided (used) by operating activities
net cash provided (used) in investing activities																																																																			137,000
proceeds from long-term debt
repayment of common stock
cash distributions to stockholders
adjustments to reconcile net income to net cash from:
income from non-consolidated joint ventures
deferred income taxes

Primoris Services Corporation(NYSE:PRIM)

Primoris Services Corporation
(NYSE:PRIM)