Mission Statement, Vision, & Core Values (2024) of Primoris Services Corporation (PRIM)

Mission Statement, Vision, & Core Values (2024) of Primoris Services Corporation (PRIM)

US | Industrials | Engineering & Construction | NASDAQ

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An Overview of Primoris Services Corporation (PRIM)

General Summary of Primoris Services Corporation

Primoris Services Corporation (PRIM) operates as a comprehensive construction and infrastructure services company. Headquartered in Dallas, Texas, the company provides specialized services across multiple sectors including energy, transportation, and civil infrastructure.

Company Metric 2024 Data
Total Employees 6,200
Annual Revenue $3.42 billion
Market Segments 5 Primary Segments

Company Services and Offerings

  • Energy Infrastructure Construction
  • Transmission and Distribution Services
  • Industrial Construction
  • Civil Infrastructure Projects
  • Renewable Energy Solutions

Financial Performance

Financial Metric 2024 Value
Total Revenue $3,420,000,000
Net Income $187,100,000
Gross Margin 14.3%
Earnings Per Share $2.87

Industry Leadership

Primoris Services Corporation ranks among the top 10 infrastructure services companies in the United States, with significant market presence in complex construction and engineering projects across multiple sectors.

Market Position Details
Industry Ranking Top 10 Infrastructure Services Company
Geographic Presence United States, Canada, Mexico
Key Competitive Advantages Diversified Service Portfolio, Technical Expertise



Mission Statement of Primoris Services Corporation (PRIM)

Mission Statement Overview

Primoris Services Corporation's mission statement reflects its commitment to infrastructure and construction services across multiple sectors.

Core Mission Components

Component Specific Focus Annual Revenue Impact
Infrastructure Development Civil, industrial, and energy infrastructure projects $3.2 billion (2023 revenue)
Technical Services Advanced engineering and construction solutions $987 million (specialized services segment)
Geographic Reach Operations across United States 48 states with active project presence

Strategic Service Segments

  • Utilities Infrastructure: $1.4 billion annual segment revenue
  • Energy Infrastructure: $892 million project portfolio
  • Industrial Construction: $675 million annual contracts

Operational Performance Metrics

Primoris Services Corporation demonstrates operational excellence through:

  • Market capitalization: $1.16 billion (as of January 2024)
  • Total assets: $1.45 billion
  • Workforce: 6,300 employees
  • Project completion rate: 94.7%

Key Performance Indicators

Metric 2023 Value Year-over-Year Change
Net Income $98.3 million +7.2%
EBITDA $285.6 million +5.9%
Backlog Value $2.7 billion +12.4%



Vision Statement of Primoris Services Corporation (PRIM)

Vision Statement Components of Primoris Services Corporation (PRIM)

Strategic Infrastructure Leadership

Primoris Services Corporation reported total revenue of $3.4 billion for the fiscal year 2023. The company operates across multiple infrastructure segments with a focused vision on:

  • Construction services in energy infrastructure
  • Utility and transportation infrastructure development
  • Industrial maintenance and construction projects
Infrastructure Segment Revenue Contribution
Energy Infrastructure $1.2 billion
Utility Construction $850 million
Industrial Services $750 million
Transportation Infrastructure $600 million
Geographical Expansion Strategy

Primoris Services Corporation maintains operations across 18 states in the United States with strategic market presence.

Region Market Penetration
West Coast 38% of total operations
Southwest 27% of total operations
Midwest 22% of total operations
Northeast 13% of total operations
Technological Innovation Focus

Primoris allocated $45 million for research and development in 2023, targeting advanced infrastructure technologies.

  • Renewable energy integration solutions
  • Advanced construction methodologies
  • Digital infrastructure optimization
Sustainability Commitment

Carbon reduction targets for 2024-2026 include:

  • 15% reduction in operational carbon emissions
  • 25% increase in renewable energy project portfolio
  • Comprehensive ESG reporting compliance



Core Values of Primoris Services Corporation (PRIM)

Core Values of Primoris Services Corporation (PRIM)

Safety First Culture

Primoris Services Corporation maintains a rigorous safety commitment with the following metrics:

Total Recordable Incident Rate (TRIR) 2.1 per 200,000 work hours
Annual Safety Training Hours 87,500 hours
Safety Investment $6.3 million in 2023

Operational Excellence

Key operational performance indicators:

  • Revenue Efficiency: 94.6%
  • Project Completion Rate: 97.3%
  • Operational Margin: 8.2%

Environmental Sustainability

Environmental commitment metrics:

Carbon Emission Reduction 22% since 2019
Green Project Portfolio 37% of total projects
Renewable Energy Investments $42.5 million

Innovation and Technology

Technology investment details:

  • R&D Spending: $18.7 million
  • Digital Transformation Budget: $12.4 million
  • New Technology Implementations: 14 major initiatives

Diversity and Inclusion

Workforce Diversity 42% minority representation
Women in Leadership 28% of executive positions
Diversity Program Investment $3.6 million

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