RTTNews | Aug 4, 2020 10:24AM EDT

10:23 Tuesday, August 4, 2020 (RTTNews.com) - Shares of specialty construction and infrastructure company, Primoris Services Corporation (PRIM) are climbing more than 9% after reporting better-than-expected second-quarter results. The company also provided full-year earnings outlook, better than view.

The company's second-quarter earnings were a positive surprise at $0.68 per share, beating the average estimate of analysts polled by Thomson Reuters of $0.35 per share.

Revenue for the quarter increased to $908.2 million from $789.9 million last year, primarily due to the growth in the pipeline segment. The consensus estimate was at $799.14 million.

For the full year, the company sees earnings per share to be in the range of $1.60 - $1.80. Analysts have a consensus estimate of $1.25 per share

Primoris stock is currently trading at $18.21. It has been trading in the range of $9.42- $23.73 in the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3117964/stock-alert-primoris-services-rises-on-earnings-outlook.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com All Rights Reserved