DALLAS (AP) — DALLAS (AP) — Primoris Services Corp. (PRIM) on Tuesday reported first-quarter profit of $17.4 million.
On a per-share basis, the Dallas-based company said it had profit of 32 cents. Earnings, adjusted for one-time gains and costs, were 59 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.
The construction contractor posted revenue of $1.56 billion in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $1.73 billion.
Primoris Services expects full-year earnings in the range of $4.80 to $5 per share.
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