Primoris Services Corporation

Primoris Services Corporation slashed its earnings guidance to $1.30 to $1.85 per share from $4.05 to $4.25, sending shares tumbling, according to TCW Relative Value Mid Cap Fund's second-quarter 2026 investor letter. The Dallas-based infrastructure services company discovered additional cost overruns and delays in its Renewable Energy business segment. The unexpected departure of COO Jeremy Kinch also raised concerns about operational oversight, the fund said. Primoris closed at $74.52 on September 30, 2026, giving it a $4.04 billion market capitalization, and its shares have posted a roughly 39.97% year-to-date pullback within a 52-week range of $65.00 to $205.50. The fund named Primoris among its weakest performers in the quarter, alongside Fox Corporation and Venture Global.

A securities class action lawsuit has been filed against Primoris Services Corporation and certain executives, alleging they misled investors about the company's project management capabilities. The suit, brought on behalf of investors who purchased Primoris common stock between August 5, 2025 and June 22, 2026, follows two massive share price drops: on May 6, 2026, shares crashed $101.69, a 50% decline, and on June 23, 2026, shares cratered another $23.29, a 21% drop. The disclosures erased well over $6 billion from Primoris' market capitalization between May 5 and June 23, 2026. The complaint claims that Primoris' estimating, cost-to-complete forecasting, and project oversight processes were deficient, leading to systematic underestimation of costs and risks on multiple renewable energy projects. CEO Koti Vadlamudi admitted on the May 6 earnings call that cost pressures across multiple solar projects, including project redesigns, labor issues, sequencing errors, and weather disruptions, caused a nearly 40% plunge in gross profits in the core Energy segment. The lead plaintiff deadline is September 21, 2026, and the law firm Hagens Berman Sobol Shapiro LLP is investigating.

Glancy Prongay Wolke & Rotter LLP reminds investors that the deadline to file a lead plaintiff motion in the securities fraud class action against Primoris Services Corporation is September 21, 2026. The lawsuit covers investors who purchased or acquired Primoris securities between August 5, 2025 and June 22, 2026. The complaint alleges that the company made materially false or misleading statements and failed to disclose deficiencies in its cost estimation and project oversight processes, leading to systematic underestimation of costs and risks on fixed-price renewable energy projects. Primoris's stock price fell sharply on multiple disclosures, including an 8.3% drop on February 24, 2026 after revealing increased costs and margin compression, a 50.11% plunge on May 6, 2026 after slashing full-year adjusted EBITDA guidance from $560-$580 million to $480-$500 million, and a further 21.6% decline on June 22, 2026 following the announcement of its Chief Operating Officer's departure and a further cut to its financial outlook, partly due to cost overruns and delays on six projects.

Kahn Swick & Foti, LLC reminds investors in Primoris Services Corporation that they have until September 21, 2026 to apply for lead plaintiff in a securities class action lawsuit. The lawsuit covers purchasers of Primoris shares between August 5, 2025 and June 22, 2026, alleging the company failed to disclose material information about challenges, cost overruns, and delays on six renewable energy projects. On June 22, 2026, Primoris cut its full-year 2026 adjusted EPS guidance to $2.05-$2.60, lowered adjusted EBITDA guidance to $275 million-$325 million, projected renewables revenue would decline to approximately $2.1 billion, and announced the resignation of its chief operating officer, causing shares to fall 22% to $84.95 on June 23, 2026. Investors who suffered losses may contact KSF Managing Partner Lewis Kahn toll-free at 1-833-538-3615 or via email at lewis.kahn@ksfcounsel.com.

A securities class action has been filed against Primoris Services Corporation on behalf of shareholders who purchased PRIM securities between August 5, 2025 and June 22, 2026, with a lead plaintiff deadline of September 21, 2026. The lawsuit alleges the company made materially false and misleading statements regarding its disciplined bidding, estimating processes, and project oversight while underestimating costs and risks on significant renewable energy projects. Primoris shares fell $23.39, or 21.6%, from $108.34 to $84.95 after a June 22, 2026 business update that slashed adjusted EPS guidance from a range of $5.80 to $6.00 down to $2.05 to $2.60, and adjusted EBITDA from $560 million to $580 million down to $275 million to $325 million. The complaint also cites delayed recognition of material cost overruns and margin deterioration, as well as the resignation of the Chief Operating Officer. Institutional investors, including pension funds and asset managers, are encouraged to review their PRIM holdings for potential losses and consider lead plaintiff participation or monitoring as absent class members.

Infrastructure construction company Primoris Services will report its second-quarter earnings this Tuesday after market hours. Analysts expect revenue to decline 7.7% year on year, a reversal from the 20.9% increase recorded in the same quarter last year. Last quarter, Primoris missed revenue expectations with $1.56 billion, down 5.4% year on year, and its full-year EBITDA guidance fell short of estimates. The company rarely misses Wall Street revenue estimates, and analyst estimates have been largely reconfirmed over the past 30 days. Primoris shares are down 7.6% over the last month, heading into earnings with an average analyst price target of $127.50 compared to the current share price of $84.06.

Robbins LLP reminds investors that a securities class action has been filed against Primoris Services Corporation for alleged misstatements about cost forecasting and project oversight. The lawsuit covers purchasers of Primoris securities between August 5, 2025 and June 22, 2026, and claims the company underestimated costs and risks on several fixed-price renewable energy projects, leading to artificially inflated stock prices. On June 22, 2026, Primoris disclosed significant cost overruns, project delays, and execution challenges affecting six renewable energy projects, along with a substantial reduction to its 2026 financial guidance and the resignation of its Chief Operating Officer, causing the stock to fall from $108.34 to $84.95 per share, a decline of approximately 21.6%. Investors who suffered losses have until September 21, 2026 to seek appointment as lead plaintiff.

The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of Microvast Holdings, Primoris Services Corporation, and EquipmentShare.com Inc. Investors have until September 21, 2026 to file a lead plaintiff motion. The Microvast suit alleges the company overstated its ability to reach margin targets and complete the Huzhou Phase 3.2 expansion by the end of 2025. The Primoris complaint claims the company systematically underestimated costs and risks on fixed-price renewable energy projects. The EquipmentShare.com action alleges undisclosed related party transactions and materially misleading financial statements.

Rosen Law Firm reminds purchasers of Primoris Services Corporation common stock between August 5, 2025 and June 22, 2026 of the September 21, 2026 lead plaintiff deadline in a securities class action. The lawsuit alleges that Primoris made false and misleading statements and failed to disclose deficiencies in its cost estimation, cost-to-complete forecasting, and project oversight processes for significant fixed-price renewable energy projects, leading to underestimated costs and risks. Investors who purchased shares during the class period may be entitled to compensation through a contingency fee arrangement. Rosen Law Firm highlights its track record in securities class actions, including the largest-ever settlement against a Chinese company and over $438 million recovered for investors in 2019.

Kahn Swick & Foti, LLC has notified investors in Primoris Services Corporation of a September 21, 2026 deadline to apply for lead plaintiff in a securities class action lawsuit. The lawsuit, filed in the United States District Court for the Northern District of Texas, seeks to recover losses for shareholders who purchased Primoris shares between August 5, 2025 and June 22, 2026. The complaint alleges that Primoris and certain executives failed to disclose material information, including substantial challenges, cost overruns, and project delays affecting six renewable energy projects. On June 22, 2026, the company reduced its full-year 2026 adjusted EPS guidance to $2.05 to $2.60, lowered adjusted EBITDA guidance to $275 million to $325 million, projected renewables revenue would decline to approximately $2.1 billion, and announced the resignation of its Chief Operating Officer, causing shares to fall 22% to $84.95 on June 23, 2026. Investors who suffered losses may contact KSF Managing Partner Lewis Kahn toll-free at 1-833-538-3615 or via email at lewis.kahn@ksfcounsel.com.

Kessler Topaz Meltzer & Check, LLP has filed a securities fraud class action lawsuit against Primoris Services Corporation on behalf of investors who purchased Primoris common stock between August 5, 2025 and June 22, 2026. The lawsuit, filed in the United States District Court for the Northern District of Texas, alleges that Primoris made materially false and misleading statements regarding the costs and risks of significant fixed-price renewable energy projects. The complaint claims the company's cost estimation and project oversight processes were deficient, leading to systematic underestimation of costs and risks, and that positive statements about the business were misleading. Primoris' stock price fell sharply on multiple disclosures, including an 8.3% drop on February 24, 2026 after revealing increased renewable project costs, a 50.11% plunge on May 6, 2026 after slashing full-year adjusted EBITDA guidance from $560-$580 million to $480-$500 million, and a further 21.6% decline on June 22, 2026 after announcing cost overruns and delays on six projects and lowering revenue expectations for its renewables business to $2.1 billion to $3 billion. Investors have until September 21, 2026 to seek lead plaintiff status.

A securities class action lawsuit has been filed against Primoris Services Corporation and certain current and former executives, alleging they misled investors about the company's project management capabilities. The suit, covering investors who purchased shares between August 5, 2025 and June 22, 2026, follows a second massive selloff on June 23, 2026, when shares fell $23.29 or 21%, after an earlier crash of $101.69 or 50% on May 6, 2026. The disclosures erased well over $6 billion from Primoris' market capitalization between May 5, 2026 and June 23, 2026. The complaint claims that despite assurances of disciplined bidding and effective project controls, Primoris had deficient estimating and oversight processes that caused systematic underestimation of costs on multiple renewable energy projects. The lead plaintiff deadline is September 21, 2026.

Primoris shares have fallen 39.3% since January 2026 to $89.91 per share following softer quarterly results. The company reported a backlog of $11.6 billion in its latest quarter, with two-year average annual backlog growth of 86.5%, signaling strong future revenue visibility. Long-term earnings per share grew at a 16.8% annual rate over the past five years, though gross margins averaged just 10.7% over the same period, reflecting competitive pressures. The stock now trades at 36.8 times forward earnings.

The Portnoy Law Firm has announced a class action lawsuit on behalf of investors who purchased Primoris Services Corporation securities between August 5, 2025 and June 22, 2026. The lawsuit alleges potential violations of federal securities laws following a series of disclosures that caused significant stock price declines. On February 23, 2026, Primoris reported increased costs on renewable energy projects and margin compression, leading to an 8.28% drop. Further declines occurred after May 5, 2026 guidance cuts and a June 8, 2026 executive departure, culminating in a 21.59% fall on June 22, 2026 when the company slashed its full-year 2026 Adjusted EPS guidance to $2.05-$2.60 and announced its COO's resignation. Investors have until September 21, 2026 to file a lead plaintiff motion.

Pomerantz LLP is investigating claims on behalf of investors of Primoris Services Corporation concerning potential securities fraud or unlawful business practices. The investigation follows Primoris's May 5, 2026 earnings release that missed analyst expectations and cut full-year adjusted EBITDA guidance from $560-$580 million to $480-$500 million, citing lower renewable energy activity, delayed project starts, and increased costs. On that news, Primoris's stock fell $101.69 per share, or 50.11%, to close at $101.23 on May 6, 2026. Then on June 22, 2026, the company announced the departure of its Chief Operating Officer and disclosed additional challenges and cost overruns in its Renewables business, lowering its full-year 2026 Renewables revenue expectation to approximately $2.1 billion from approximately $3.0 billion in 2025. The stock dropped another $23.39 per share, or 21.59%, to close at $84.95 on June 23, 2026.

Primoris Services shares cratered 40% intraday on June 23, 2026, after the company disclosed additional challenges and cost overruns in its renewables business and the abrupt departure of its Chief Operating Officer. The company announced that 2026 renewables revenues would decline 30%, or $900 million, from the $3 billion reported in 2025, due to ongoing problems in six projects. This follows a May 5 disclosure of a nearly 40% gross profit plunge in its core Energy segment, which sent shares down 50%. Together, the two disclosures wiped out over $7.8 billion in market capitalization. Law firm Hagens Berman is investigating whether Primoris misled investors about its renewables business prior to May 5.

Pomerantz LLP is investigating claims on behalf of investors of Primoris Services Corporation concerning potential securities fraud or unlawful business practices. The investigation follows two significant stock drops after the company reported disappointing financial results and business updates. On May 5, 2026, Primoris reported first-quarter results below analyst expectations and slashed full-year adjusted EBITDA guidance from $560-$580 million to $480-$500 million, causing its stock to fall 50.11% to $101.23 per share. Then on June 22, 2026, the company announced the departure of its Chief Operating Officer and disclosed additional challenges and cost overruns in its Renewables business, with full-year 2026 revenue for that segment now expected to be approximately $2.1 billion, down from approximately $3.0 billion in 2025, leading to a further 21.59% stock decline to $84.95 per share.

Primoris Services has sharply cut its 2026 guidance due to cost overruns in six renewables projects, while also announcing the abrupt departure of its Chief Operating Officer. The company now projects $8.7 billion in revenue and $358.2 million in earnings by 2028, requiring 7.7% annual revenue growth and a $117.2 million earnings increase from the current $241.0 million. In late June 2026, Fermi America Inc. awarded Primoris Energy Services a contract to engineer and construct the balance of plant for six SGT-800 gas turbines at the Project Matador power facility in Amarillo, Texas, reinforcing its role in data-center-linked power generation. Some analysts had previously forecast revenue of about $10.3 billion and earnings of about $378.1 million, highlighting the impact of renewables execution risk on the stock's outlook.

Kirby McInerney LLP is investigating Primoris Services Corporation for possible violations of federal securities laws. The investigation follows a 50% share price drop on May 6, 2026, after Primoris reported first-quarter revenue of $1.6 billion, down 5.4% year-over-year, and net income of $17.4 million compared to $44.2 million a year earlier, citing increased costs on renewable energy projects. Shares fell another 22% on June 23, 2026, after the company lowered its full-year outlook, now expecting net income of $71 million to $101 million versus prior guidance of $223 million to $234 million, and announced the departure of its chief operating officer. No lawsuit has been filed, and the firm is seeking information from investors who acquired Primoris securities.

Argan, Inc. has emerged as the stronger investment compared to Primoris Services Corporation, according to a Zacks Investment Research analysis. Argan reported record first-quarter fiscal 2027 revenues of $291 million, a 50% year-over-year increase, with earnings per share surging 102.5% to $3.24, while its backlog grew 49.1% to $2.77 billion. In contrast, Primoris saw first-quarter 2026 consolidated revenues decline 5.4% year over year and faces near-term headwinds including execution challenges on legacy renewable projects and downward earnings estimate revisions. Argan holds a Zacks Rank #1 (Strong Buy) and a trailing 12-month return on equity of 36.89%, significantly above Primoris, which carries a Zacks Rank #5 (Strong Sell). The analysis concludes that Argan's superior execution, stronger balance sheet with no debt and $973.6 million in cash and investments, and positive estimate revisions justify its premium valuation and offer a more compelling risk-reward profile.

Bragar Eagel & Squire, P.C. is investigating potential claims against Primoris Services Corporation on behalf of Primoris stockholders. The investigation concerns whether Primoris violated federal securities laws or engaged in other unlawful business practices. The firm cites Primoris's May 5, 2026 financial results that missed analyst expectations and slashed full-year adjusted EBITDA guidance from $560-$580 million to $480-$500 million, causing the stock to fall $101.69 per share, or 50.11%, to close at $101.23 on May 6, 2026. Then on June 22, 2026, Primoris announced the departure of its Chief Operating Officer and further reduced its 2026 financial outlook, partly due to cost overruns and delays on six projects, with renewables revenue now expected at $2.1 billion to $3 billion, leading to an additional stock drop of $23.39, or 21.6%, to $84.95 per share. The law firm encourages investors who suffered losses to contact Brandon Walker or Melissa Fortunato at investigations@bespc.com or (212) 355-4648.

Ademi LLP is investigating possible securities fraud claims against Primoris Services Corporation. The investigation stems from potentially inaccurate statements Primoris made about its financial statements, business operations, and prospects. On June 22, 2026, Primoris updated its financial outlook and announced the departure of Chief Operating Officer Jeremy Kinch.

Several stocks made notable premarket moves. IBM rose more than 4% after JPMorgan upgraded the legacy tech stock to overweight, citing software-driven improvements in recurring revenue, margins, profitability, and cash flow. Qualcomm slid 6% following a Bloomberg News report that it is in advanced talks to acquire AI software infrastructure company Modular in a deal valued at about $4 billion. Oracle fell 2% amid a broader tech selloff after disclosing in a regulatory filing that it cut 21,000 jobs, or almost 13% of its workforce, over the past year. Energy Fuels dipped nearly 1% after announcing a definitive agreement to acquire advanced magnetics company VAC. Primoris Services tumbled 36% after lowering guidance due to additional renewables cost overruns and delays and announcing the departure of its COO.

Stock futures edged lower Tuesday as fading optimism over a U.S.-Iran peace framework added to ongoing rate anxieties and a tech sell-off. Among the biggest movers, IBM shares rose 5% after the company partnered with OpenAI to bring advanced AI capabilities into enterprise cybersecurity workflows, gaining access to frontier models under OpenAI’s Daybreak Cyber Partner Program. Primoris Services tumbled 32% after slashing its fiscal 2026 adjusted EPS guidance to $2.05–$2.60, less than half its prior $4.80–$5.00 range and well below the $4.85 consensus, while also announcing the immediate departure of COO Jeremy Kinch and lowering its renewables revenue outlook to $2.1 billion–$3.0 billion. Alphabet fell 3% as Nobel Prize-winning researcher John Jumper left Google DeepMind for Anthropic, the latest high-profile AI talent exit following the departures of Gemini AI co-lead Noam Shazeer and researcher Lun Wang. Avis Budget Group gained 7% after reaching a proposed settlement with Pentwater Capital Management that would see Pentwater pay $650 million in cash to resolve short-swing trading claims, pending court approval. Best Buy slipped 3% after announcing CFO Matt Bilunas will step down on July 31, adding to leadership uncertainty as the retailer faces sluggish electronics demand.

Primoris Services shares fell 32.1% after hours on Monday after the company lowered its fiscal 2026 outlook due to additional cost overruns and delays in its renewables business, and announced the immediate departure of Chief Operating Officer Jeremy Kinch. The company now expects full-year renewables revenue between $2.1 billion and $3 billion, contributing to a reduced overall forecast of net income of $71 million to $101 million and adjusted earnings of $2.05 to $2.60 per share, down from prior guidance of $4.80 to $5.00 and well below the $4.85 FactSet analyst consensus. Primoris also disclosed that it has been awarded several projects during the second quarter with a combined value of approximately $2 billion, primarily focused on natural gas generation, industrial, and electric construction services to support power load growth and data centers.

Holzer & Holzer, LLC is investigating whether Primoris Services Corporation complied with federal securities laws. The investigation follows Primoris's May 5, 2026 announcement of first-quarter financial results, which revealed a decrease in revenue for its Energy Segment compared to the first quarter of 2025. The company attributed the decline to lower renewable energy activity due to slower than anticipated start of new projects, release of new work, and slower than expected financial close associated with certain projects. The stock price dropped following the news. Shareholders who purchased Primoris stock and suffered a loss are encouraged to contact the firm.