PRIM

What You Should Know

Primoris Services Corporation is a publicly-traded specialty-contracting and infrastructure company that provides engineering, procurement, construction, and maintenance services for utility, energy, renewables, and communications infrastructure — including power-delivery, gas-and-electric-utility, solar, and pipeline projects — organized into Utilities and Energy segments. Engineering, construction, and infrastructure-maintenance services are general-purpose industrial-and-construction activities that are unambiguously permissible at the activity level under standard Sharia methodology. The financial screen is the primary consideration: Primoris carries leverage that supports its project-based and acquisition-driven growth, so the debt-to-market-cap ratio should be verified against the 33% Sharia threshold at the time of investment, though the company generates positive operating cash flow and maintains a large project backlog. Subject to that verification, most major Sharia advisory boards classify Primoris as permissible with purification of small interest-income components.