PRIM — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-06

• We continuously evaluate the marketplace for acquisition opportunities to further our strategic growth plans. Due to our reputation, size, financial resources, geographic presence and range of services, we have numerous opportunities to acquire companies or selected portions of such companies. We ev…

• On May 1, 2026, we closed on our acquisition of PayneCrest Electric, Inc. (“PayneCrest”) in an all-cash transaction valued at approximately $399.5 million, net of cash acquired. PayneCrest is a leading electrical construction and services provider supporting industrial, manufacturing, and advanced f…

• Our results of operations are subject to quarterly variations. Some of the variation is the result of weather, particularly rain, ice, snow, and named storms, which can impact our ability to perform infrastructure services. These seasonal impacts can affect revenue and profitability in all of our bu…

• or positively by atypical weather patterns in any part of the country. In addition, demand for new projects in our Utilities segment tends to be lower during the early part of the calendar year due to clients’ internal budget cycles. As a result, we usually experience higher revenue and earnings in …

• The following discussion compares the results of the three months ended March 31, 2026, to the three months ended March 31, 2025.

Text removed vs the prior filing · source: 10-Q · 2025-11-04

• The U.S. administration has announced or imposed a series of tariffs on U.S. trading partners. The extent and duration of increased tariffs and the resulting impact on general economic conditions and on our business remains uncertain. The potential outcomes depend on various factors, such as negotia…

• Our results of operations are subject to quarterly variations. Some of the variation is the result of weather, particularly rain, ice, snow, and named storms, which can impact our ability to perform infrastructure services. These seasonal impacts can affect revenue and profitability in all of our bu…

• The following discussion compares the results of the three and nine months ended September 30, 2025, to the three and nine months ended September 30, 2024.

• Revenue was $5,717.3 million for the nine months ended September 30, 2025, an increase of $1,091.8 million, or 23.6%, compared to the same period in 2024. The increase was due to growth in both our Energy and Utilities segments.

• Gross profit was $235.7 million for the three months ended September 30, 2025, an increase of $37.1 million, or 18.7%, compared to the same period in 2024. The increase was primarily due to an increase in revenue in both segments, partially offset by lower margins. Gross profit as a percentage of re…

Text added vs the prior filing · source: 10-Q · 2026-05-06

• As of March 31, 2026, we carried out an evaluation, under the supervision and with the participation of our management, including our President and Chief Executive Officer (“CEO”) and our Executive Vice President and Chief Financial Officer (“CFO”), of the effectiveness of the design and operation o…

• Based on this evaluation, our CEO and CFO concluded that, as of March 31, 2026, the disclosure controls and procedures were effective at the reasonable assurance level to ensure that information required to be disclosed by us in the reports we file or submit under the Exchange Act is recorded, proce…

• specified in the rules and forms of the SEC, and accumulated and communicated to our management, including our CEO and CFO, as appropriate to allow timely decisions regarding required disclosure.

Text removed vs the prior filing · source: 10-Q · 2025-11-04

• As of September 30, 2025, we carried out an evaluation, under the supervision and with the participation of our management, including our Interim President and Chief Executive Officer (“Interim CEO”) and our Executive Vice

• President and Chief Financial Officer (“CFO”), of the effectiveness of the design and operation of our “disclosure controls and procedures”, as such term is defined under Exchange Act Rules 13a-15(e) and 15d-15(e).

• Based on this evaluation, our Interim CEO and CFO concluded that, as of September 30, 2025, the disclosure controls and procedures were effective at the reasonable assurance level to ensure that information required to be disclosed by us in the reports we file or submit under the Exchange Act is rec…

Text added vs the prior filing · source: 10-Q · 2026-05-06

• The information set forth below in this item 5 is reported in lieu of information that would be reported under items “1.01 Entry into a Material Definitive Agreement” and "2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant." of Form…

• On May 1, 2026, we entered into the Fourth Amended and Restated Credit Agreement (the “Amended Credit Agreement”) with CIBC Bank USA, as administrative agent (the “Administrative Agent”) and co-lead arranger, and the financial parties thereto (collectively, the “Lenders”), amending and restating the…

• Under the Amended Credit Agreement, we must make quarterly principal payments on the New Term Loan in an amount equal to approximately $9.7 million. The first principal payment will be due on September 30, 2026.

• The principal amount of all loans under the Amended Credit Agreement will bear interest at either: (i) SOFR plus an applicable margin as specified in the Amended Credit Agreement (based on our net senior debt to EBITDA ratio as defined in the Amended Credit Agreement), or (ii) the Base Rate (which i…

• The principal amount of any loan drawn under the Amended Credit Agreement may be prepaid in whole or in part at any time, without premium or penalty.