PRIM Primoris Services Corporation

PRIMORIS SERVICES CORPORATION ANNOUNCES HEAVY CIVIL AWARD VALUED OVER $49 MILLION

PRIMORIS SERVICES CORPORATION ANNOUNCES HEAVY CIVIL AWARD VALUED OVER $49 MILLION

DALLAS, March 31, 2020 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new award valued over $49 million.  The contract was secured by Primoris Heavy Civil, part of the Civil segment. 

  • The project was awarded by Harris County Flood Control District in Texas.
  • The project is for the replacement of bridges and channel modifications along Brays Bayou in Houston.  The award is part of Project Bray, which is expected to reduce flooding risks in the watershed.
  • Work is scheduled to commence in the second quarter of 2020, and completion is expected in the fourth quarter of 2021.

ABOUT PRIMORIS

Founded in 1960, Primoris, through various subsidiaries, has grown to become one of the leading providers of specialty contracting services operating mainly in the United States and Canada. Primoris provides a wide range of specialty construction services, fabrication, maintenance, replacement, and engineering services to a diversified base of customers. The Company's national footprint extends from Florida, along the Gulf Coast, through California, into the Pacific Northwest and Canada. For additional information, please visit .

FORWARD LOOKING STATEMENTS

This press release contains certain forward-looking statements, including with regard to the Company’s future performance. Words such as "estimated," "believes," "expects," "projects," “may,” and "future" or similar expressions are intended to identify forward-looking statements. Forward looking statements inherently involve known and unknown risks, uncertainties, and other factors, including without limitation, those described in this press release and those detailed in the "Risk Factors" section and other portions of our Annual Report on Form 10-K for the period ended December 31, 2018, and other filings with the Securities and Exchange Commission. Given these uncertainties, you should not place undue reliance on forward looking statements. Primoris does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Company Contact

Kate Tholking

Vice President, Investor Relations

(214) 740-5615

EN
31/03/2020

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