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Primoris vs. Tutor Perini: Which Infrastructure Stock Has More Upside?
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Key Takeaways
Primoris benefits from diversified exposure across utilities, energy and communications projects.
Tutor Perini gains from higher-margin project wins and improved contract terms.
Both firms show strong backlog visibility, but execution risks remain across complex projects.
Strong public and private funding continues to drive momentum across U.S. infrastructure, transportation and energy-related construction, with Primoris Services Corporation (PRIM - Free Report) and Tutor Perini Corporation (TPC - Free Report) emerging as key players within this landscape. Increasing project size and complexity across energy, utilities and large-scale building markets are pushing customers toward partners that can deliver with scale, disciplined execution and strong project management capabilities. At the same time, contractors are becoming more selective in bidding, focusing on favorable contract structures, backlog quality and consistent execution to navigate evolving market conditions and capital deployment cycles.
Within this environment, Primoris is leveraging its diversified exposure across energy, utilities and communications, supported by long-standing client relationships and expanding project opportunities, while Tutor Perini is capitalizing on large, higher-margin project wins, improved contract terms and a disciplined bidding approach. Both companies highlight strong backlog visibility, active bidding pipelines and a focus on execution as they position for sustained growth.
Let’s dive deep and closely compare the fundamentals of these two stocks to determine which one is a better investment now.
The Case for Primoris Stock
This Texas-based specialty construction and infrastructure company is experiencing mixed trends across its end markets, benefiting from steady demand across utilities, communications and energy-related projects. Increasing investment in power generation, grid infrastructure and data center development continues to support long-term opportunities, while a growing backlog and improved project visibility provide a stable foundation for revenue growth.
The company’s backlog stood at approximately $11.9 billion as of Dec. 31, 2025, slightly up from $11.86 billion in the prior-year period. This growth was supported by strong project awards, including nearly $3 billion secured during the fourth quarter of 2025. Strength across both utilities and energy segments, along with a higher mix of recurring program work, is improving revenue visibility and supporting more consistent execution trends.
However, margin performance remains under pressure due to project mix and execution challenges in select renewable projects. Lower storm-related activity has also weighed on profitability within the utilities segment, while cost overruns in certain projects have impacted margins. These factors highlight ongoing execution risks and variability across segments.
Looking ahead, the company is well positioned to benefit from expanding opportunities across power delivery, natural gas generation and communications infrastructure. With strong backlog visibility, improving pipeline trends and diversified exposure across key infrastructure markets, Primoris remains aligned with long-term demand trends supporting sustained growth.
The Case for Tutor Perini Stock
This California-based civil and building construction company is benefiting from strong execution across large, complex projects, supported by increasing activity on higher-margin infrastructure and building work. The company delivered strong momentum, with revenues rising 28% year over year in 2025, driven by a ramp-up in large civil and building projects. Favorable macro tailwinds and sustained funding across infrastructure markets continue to support demand, while improved contract terms and disciplined project selection are enhancing overall project quality and profitability.
Backlog remains a key strength, providing long-term visibility into revenues and earnings. The company ended 2025 with a backlog of $20.6 billion, up 10% year over year, supported by strong project awards and a growing pipeline of large-scale opportunities. A focus on securing projects with better contractual terms, longer durations and higher margins is improving earnings quality, while a robust bidding pipeline across civil and building segments supports continued growth visibility.
However, execution risks tied to large, complex projects and legacy dispute-related impacts continue to influence performance. Certain unfavorable adjustments and dispute resolutions have affected margins, while backlog trends may show near-term lumpiness due to the timing of large project awards. These factors highlight the inherent variability associated with large-scale construction projects.
Looking ahead, the company is well positioned to benefit from sustained infrastructure investment and a strong pipeline of major bidding opportunities. With improving contract terms, higher-margin backlog and continued momentum in large project execution, Tutor Perini is positioned to drive stronger revenues, earnings and cash flow over the coming years.
Stock Performance & Valuation
As witnessed from the chart below, in the past three months, Primoris’ share price performance stands below that of Tutor Perini and the Zacks Building Products - Heavy Construction industry.
Image Source: Zacks Investment Research
Considering valuation, Primoris is trading above Tutor Perini on a forward 12-month price-to-earnings (P/E) ratio basis.
Image Source: Zacks Investment Research
Comparing EPS Estimate Trends: PRIM vs. TPC
The Zacks Consensus Estimate for PRIM’s 2026 and 2027 earnings estimates has moved upward in the past 30 days. The revised estimates for 2026 and 2027 imply year-over-year growth of 6.6% and 11.3%, respectively.
EPS Trend of PRIM
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for TPC’s 2026 and 2027 earnings estimates have remained unchanged in the past 30 days. The estimates for 2026 and 2027 imply year-over-year growth of 10% and 12.3%, respectively.
EPS Trend of TPC
Image Source: Zacks Investment Research
Should You Invest in PRIM or TPC Stock?
Both Primoris and Tutor Perini are well positioned to benefit from sustained infrastructure investment trends, supported by strong backlog visibility and improving project pipelines. Each company brings distinct strengths, with Primoris offering more stable, diversified exposure across utilities, communications and energy markets, while Tutor Perini stands out for its increasing focus on higher-margin, large-scale projects and improving contract quality.
That said, both stocks carry a Zacks Rank #3 (Hold), reflecting a balanced risk-reward profile in the near term. Primoris continues to face margin pressure tied to project mix and execution challenges, while Tutor Perini still deals with variability from large project execution and legacy-related impacts.
However, Tutor Perini appears slightly better positioned at this stage, supported by stronger revenue momentum, higher-margin backlog and improving contract structures that could drive better earnings quality over time. While both stocks remain worth monitoring, TPC edges ahead as the relatively stronger pick among the two for investors seeking exposure to infrastructure-led growth.
View the Zacks #1 Rank List
Image: Bigstock
Primoris vs. Tutor Perini: Which Infrastructure Stock Has More Upside?
Key Takeaways
Strong public and private funding continues to drive momentum across U.S. infrastructure, transportation and energy-related construction, with Primoris Services Corporation (PRIM - Free Report) and Tutor Perini Corporation (TPC - Free Report) emerging as key players within this landscape. Increasing project size and complexity across energy, utilities and large-scale building markets are pushing customers toward partners that can deliver with scale, disciplined execution and strong project management capabilities. At the same time, contractors are becoming more selective in bidding, focusing on favorable contract structures, backlog quality and consistent execution to navigate evolving market conditions and capital deployment cycles.
Within this environment, Primoris is leveraging its diversified exposure across energy, utilities and communications, supported by long-standing client relationships and expanding project opportunities, while Tutor Perini is capitalizing on large, higher-margin project wins, improved contract terms and a disciplined bidding approach. Both companies highlight strong backlog visibility, active bidding pipelines and a focus on execution as they position for sustained growth.
Let’s dive deep and closely compare the fundamentals of these two stocks to determine which one is a better investment now.
The Case for Primoris Stock
This Texas-based specialty construction and infrastructure company is experiencing mixed trends across its end markets, benefiting from steady demand across utilities, communications and energy-related projects. Increasing investment in power generation, grid infrastructure and data center development continues to support long-term opportunities, while a growing backlog and improved project visibility provide a stable foundation for revenue growth.
The company’s backlog stood at approximately $11.9 billion as of Dec. 31, 2025, slightly up from $11.86 billion in the prior-year period. This growth was supported by strong project awards, including nearly $3 billion secured during the fourth quarter of 2025. Strength across both utilities and energy segments, along with a higher mix of recurring program work, is improving revenue visibility and supporting more consistent execution trends.
However, margin performance remains under pressure due to project mix and execution challenges in select renewable projects. Lower storm-related activity has also weighed on profitability within the utilities segment, while cost overruns in certain projects have impacted margins. These factors highlight ongoing execution risks and variability across segments.
Looking ahead, the company is well positioned to benefit from expanding opportunities across power delivery, natural gas generation and communications infrastructure. With strong backlog visibility, improving pipeline trends and diversified exposure across key infrastructure markets, Primoris remains aligned with long-term demand trends supporting sustained growth.
The Case for Tutor Perini Stock
This California-based civil and building construction company is benefiting from strong execution across large, complex projects, supported by increasing activity on higher-margin infrastructure and building work. The company delivered strong momentum, with revenues rising 28% year over year in 2025, driven by a ramp-up in large civil and building projects. Favorable macro tailwinds and sustained funding across infrastructure markets continue to support demand, while improved contract terms and disciplined project selection are enhancing overall project quality and profitability.
Backlog remains a key strength, providing long-term visibility into revenues and earnings. The company ended 2025 with a backlog of $20.6 billion, up 10% year over year, supported by strong project awards and a growing pipeline of large-scale opportunities. A focus on securing projects with better contractual terms, longer durations and higher margins is improving earnings quality, while a robust bidding pipeline across civil and building segments supports continued growth visibility.
However, execution risks tied to large, complex projects and legacy dispute-related impacts continue to influence performance. Certain unfavorable adjustments and dispute resolutions have affected margins, while backlog trends may show near-term lumpiness due to the timing of large project awards. These factors highlight the inherent variability associated with large-scale construction projects.
Looking ahead, the company is well positioned to benefit from sustained infrastructure investment and a strong pipeline of major bidding opportunities. With improving contract terms, higher-margin backlog and continued momentum in large project execution, Tutor Perini is positioned to drive stronger revenues, earnings and cash flow over the coming years.
Stock Performance & Valuation
As witnessed from the chart below, in the past three months, Primoris’ share price performance stands below that of Tutor Perini and the Zacks Building Products - Heavy Construction industry.
Image Source: Zacks Investment Research
Considering valuation, Primoris is trading above Tutor Perini on a forward 12-month price-to-earnings (P/E) ratio basis.
Image Source: Zacks Investment Research
Comparing EPS Estimate Trends: PRIM vs. TPC
The Zacks Consensus Estimate for PRIM’s 2026 and 2027 earnings estimates has moved upward in the past 30 days. The revised estimates for 2026 and 2027 imply year-over-year growth of 6.6% and 11.3%, respectively.
EPS Trend of PRIM
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for TPC’s 2026 and 2027 earnings estimates have remained unchanged in the past 30 days. The estimates for 2026 and 2027 imply year-over-year growth of 10% and 12.3%, respectively.
EPS Trend of TPC
Image Source: Zacks Investment Research
Should You Invest in PRIM or TPC Stock?
Both Primoris and Tutor Perini are well positioned to benefit from sustained infrastructure investment trends, supported by strong backlog visibility and improving project pipelines. Each company brings distinct strengths, with Primoris offering more stable, diversified exposure across utilities, communications and energy markets, while Tutor Perini stands out for its increasing focus on higher-margin, large-scale projects and improving contract quality.
That said, both stocks carry a Zacks Rank #3 (Hold), reflecting a balanced risk-reward profile in the near term. Primoris continues to face margin pressure tied to project mix and execution challenges, while Tutor Perini still deals with variability from large project execution and legacy-related impacts.
However, Tutor Perini appears slightly better positioned at this stage, supported by stronger revenue momentum, higher-margin backlog and improving contract structures that could drive better earnings quality over time. While both stocks remain worth monitoring, TPC edges ahead as the relatively stronger pick among the two for investors seeking exposure to infrastructure-led growth.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.