Primoris Services Corp 2026年季度报告

FORM10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF1934. For the quarterly period ended March 31, 2026OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF1934. Commission file number001-34145 Primoris Services Corporation(Exact name of registrant as specified in its charter) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to suchfiling requirements for the past 90days.Yes⌧No◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405of RegulationS-T (Section232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submitsuch files).Yes⌧No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growthcompany” in Rule12b-2 of the Exchange Act.: If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No⌧ As of May 1, 2026, 54,254,935 shares of the registrant’s common stock, par value $0.0001 per share, were outstanding. PRIMORIS SERVICES CORPORATION INDEX PartI. Financial Information Item1. Financial Statements: —Condensed Consolidated Balance Sheets as of March 31, 2026, and December 31, 2025(Unaudited)3—Condensed Consolidated Statements of Income for the three months ended March 31, 2026and 2025 (Unaudited)4—Condensed Consolidated Statements of Comprehensive Income for the three months endedMarch 31, 2026 and 2025 (Unaudited)5—Condensed Consolidated Statements of Stockholders’ Equity for the three months endedMarch 31, 2026 and 2025 (Unaudited)6—Condensed Consolidated Statements of Cash Flows for the three months ended March 31,2026 and 2025 (Unaudited)7—Notes to Condensed Consolidated Financial Statements (Unaudited)9Item2. Management’s Discussion and Analysis of Financial Condition and Results of Operations24Item3. Quantitative and Qualitative Disclosures About Market Risk34Item4. Controls and Procedures34 PartII. Other Information Item1. Legal ProceedingsItem5. Other InformationItem6. ExhibitsSignatures 37 PARTI.FINANCIAL INFORMATION ITEM 1.FINANCIAL STATEMENTS PRIMORIS SERVICES CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS(In Millions, Except Share Amounts)(Unaudited) LIABILITIES AND STOCKHOLDERS’ EQUITY PRIMORIS SERVICES CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF INCOME(In Millions, Except Per Share Amounts)(Unaudited) PRIMORIS SERVICES CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(In Millions)(Unaudited) Three Months EndedMarch31,20262025Net income$17.4$44.2Other comprehensive income (loss), net of tax:Foreign currency translation adjustments(0.9)0.1Comprehensive income$16.5$44.3 PRIMORIS SERVICES CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY(In Millions, Except Share Amounts)(Unaudited) PRIMORIS SERVICES CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In Millions)(Unaudited) PRIMORIS SERVICES CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)(In Millions)(Unaudited) SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION Three Months Ended March31,20262025Cash paid for interest$8.1$7.3Cash paid for income taxes, net of refunds received—(0.4)Leased assets obtained in exchange for new operating leases31.519.0 SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES Three Months Ended March31,20262025Dividends declared and not yet paid$4.3$4.3 See Accompanying Notes to Condensed Consolidated Financial Statements PRIMORIS SERVICES CORPORATIONNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Dollars in Millions, Except Share and Per Share Amounts)(Unaudited) Note1—Nature of Business Organization and operations—Primoris Services Corporation is a leading provider of criticalinfrastructure services operating mainly in the United States and Canada. We provide a wide range ofconstruction, maintenance, replacement, and engineering services to a diversified base of customers throughour two segments. We have longstanding customer relationships with solar facility developers, power producers, gasand electric utilities,