Goldman Sachs has initiated coverage on Primoris Services Corp (PRIM) with a Sell rating, marking the firm's first assessment of the construction company. This decision, effective November 23, 2025, comes as Primoris operates within a market characterized by diverse challenges and opportunities.
Headquartered in Dallas, Texas, Primoris Services Corp is a holding company that provides a range of construction, fabrication, maintenance, replacement, and engineering services. With a market capitalization of $6.6 billion, the company reported a P/E ratio of 23.88 and an EPS of 5.06 as of November 20, 2025. The firm employs 3,074 full-time workers and serves a diversified customer base through its two segments: Utilities and Energy.
The Utilities segment focuses on the installation and maintenance of utility distribution and transmission systems, while the Energy segment offers engineering, procurement, and construction services across the U.S. and Canada, particularly in the renewable energy and petroleum sectors.
In terms of upcoming earnings, Primoris is expected to report its next results on August 3, 2026, with an estimated EPS of $1.67 and revenue of $2.1 billion. This follows a series of strong earnings surprises in 2025, including a Q3 EPS of $1.88, which exceeded estimates by 33.5%.
Goldman Sachs' new rating adds to a mixed analyst consensus, which as of November 1, 2025, includes 4 Strong Buy, 11 Buy, and 3 Hold ratings among 18 analysts. The move underscores the importance of considering multiple perspectives when evaluating investment opportunities, as analyst ratings can change over time with new information.