Infrastructure construction company Primoris Services will report its second-quarter earnings this Tuesday after market hours. Analysts expect revenue to decline 7.7% year on year, a reversal from the 20.9% increase recorded in the same quarter last year. Last quarter, Primoris missed revenue expectations with $1.56 billion, down 5.4% year on year, and its full-year EBITDA guidance fell short of estimates. The company rarely misses Wall Street revenue estimates, and analyst estimates have been largely reconfirmed over the past 30 days. Primoris shares are down 7.6% over the last month, heading into earnings with an average analyst price target of $127.50 compared to the current share price of $84.06.
Primoris Services CorporationQ2 earnings expected to decline 7.7% YoY, following a revenue miss last quarter and guidance shortfall.
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