Na Primoris Services byla podána hromadná žaloba kvůli údajnému klamání investorů ohledně řízení projektů. Firma zároveň přiznala, že výnosy v obnovitelném byznysu za rok 2026 klesnou o 30 % na 900 milionů USD.
SAN FRANCISCO, July 25, 2026 (GLOBE NEWSWIRE) -- A securities class action lawsuit has been filed against Primoris Services Corporation (NYSE: PRIM) and certain current and former executives who are alleged to have misled investors about the company’s project management capabilities. It seeks to represent investors who purchased or otherwise acquired shares of Primoris common stock between August 5, 2025 and June 22, 2026.
The lawsuit follows a second massive selloff in Primoris shares in six weeks – this time on June 23, 2026, when shares cratered another $23.29 (-21%). The first occurred on May 6, 2026, when Primoris shares crashed $101.69 (-50%). Both were triggered by surprise revelations of Primoris’ project management problems.
The disclosures’ toll was to erase well over $6 billion from Primoris’ market capitalization between May 5, 2026 and June 23, 2026.
National shareholders rights firm Hagens Berman continues its investigation into claims that Primoris and the other Defendants violated the federal securities laws and encourages investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist the investigation to contact its attorneys.
Class Period: Aug. 5, 2025 – June 22, 2026
Lead Plaintiff Deadline: Sept. 21, 2026
Visit: www.hbsslaw.com/investor-fraud/prim
Contact the Firm Now: [email protected]
844-916-0895
Primoris Services Corporation (PRIM) Securities Class Action:
During the Class Period, defendants repeatedly assured investors that Primoris maintained “disciplined bidding,” “well-developed estimating processes,” effective project controls, and reliable forecasting that enabled it to accurately price and execute fixed-price renewable energy projects, “manage risk,” and reliably forecast revenues, margins, and earnings.
The complaint alleges that, in contrast to these assurances (and unknown to investors), the Defendants did not disclose that Primoris’ estimating, cost-to-complete forecasting, and project oversight processes were woefully deficient. As a result, the company systematically underestimated project costs and risks on multiple significant renewable energy projects.
Investors learned the truth through a series of partial disclosures:
First, in February 2026, Primoris management attributed lower gross margins to “unexpectedly higher costs” at certain renewables projects, citing difficult soil and rock conditions that required additional labor and equipment. While management later downplayed the issue as being isolated to a single project—expressing confidence in their remedial measures—they simultaneously touted the company’s ability to “accelerate project timelines” for 2026.
Second, on May 5, 2026, the market’s confidence in Primoris’ remedial measures was shattered when the company released its Q1 2026 financial results and revealed a staggering decline in the core Energy segment, with year-over-year revenues falling by $152.9 million (13.8%) and gross profits plunging by nearly 40%.
CEO Koti Vadlamudi admitted the next day during the May 6 earnings call that Primoris’ financial results were battered by cost pressures across multiple solar projects. Moving beyond the “rock and soil” reason used just months prior, Vadlamudi cited a litany of execution-related factors as the cause of the margin collapse:
Project Redesigns: Costly changes to existing plans.Labor Issues: Inability to manage specific workforce demands.Sequencing Errors: Failures in project management and timing.Weather Disruptions: Further complicating already delayed timelines. Finally, after the markets closed on June 22, 2026, Primoris shocked investors when it announced that “[a]dditional challenges and cost overruns were identified as a result of continued progress on projects in the Company’s Renewables business.” Importantly, as a result of ongoing problems in six projects and additional challenges, Primoris said its 2026 renewables business revenues would decline 30% ($900 million) from the $3 billion revenues reported for 2025.
“We’re focused on when Primoris’ management learned of the full scope of the company’s renewables problems, including the apparent inadequacy of remediation measures,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.
If you invested in Primoris and have substantial losses, or have knowledge that will assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to other frequently asked questions about the firm’s Primoris investigation, read more »
Whistleblowers: Persons with non-public information regarding Primoris should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.
Na Primoris Services Corporation byla podána hromadná žaloba kvůli údajnému podvodu s cennými papíry a dalším nezákonným praktikám. Firma zároveň opakovaně snížila výhled na Adjusted EPS a Adjusted EBITDA po problémech v oblasti obnovitelné energetiky.
, /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Primoris Services Corporation ("Primoris" or the "Company") (NYSE: PRIM). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Primoris and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until September 21, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Primoris securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On February 23, 2026, Primoris issued a press release reporting its fourth-quarter and full-year 2025 financial results. In the press release, Primoris disclosed increased costs on certain renewable energy projects, more challenging-than-anticipated soil conditions, and margin compression within its Energy segment, acknowledging that these issues adversely affected fourth-quarter profitability despite higher revenue.
On this news, Primoris's stock price fell $13.72 per share, or 8.28%, to close at $151.92 per share on February 24, 2026.
Then, on May 5, 2026, Primoris issued a press release reporting its financial results for the first quarter of 2026. In the press release, Primoris disclosed additional adverse developments affecting its renewable energy business, including revenue and margin pressure, delayed project starts, and weaker-than-expected first-quarter 2026 results. The Company also reduced its full-year 2026 Adjusted EPS guidance from $5.80-$6.00 to $4.80-$5.00 and lowered its Adjusted EBITDA guidance.
On this news, Primoris's stock price fell $101.69 per share, or 50.11%, to close at $101.23 per share on May 6, 2026.
Then, on June 8, 2026, Primoris issued a press release announcing that Anthony Vorderbruggen, the Company's President of Renewables, was departing Primoris, effective immediately.
On this news, Primoris's stock price fell $18.92 per share, or 15.4%, to close at $103.90 per share on June 9, 2026.
Finally, on June 22, 2026, Primoris issued a Business Update announcing that, following an internal review supported by an independent third-party industry expert, it had identified substantial challenges, cost overruns, and project delays affecting six renewable energy projects. The Company reduced its full-year 2026 Adjusted EPS guidance to $2.05-$2.60, lowered its Adjusted EBITDA guidance to $275 million-$325 million, projected that 2026 Renewables revenue would decline to approximately $2.1 billion, and announced the resignation of its Chief Operating Officer.
On this news, Primoris's stock price fell $23.39 per share, or 21.59%, to close at $84.95 per share on June 23, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
Bessemer Group ve 1. čtvrtletí zvýšila podíl v Primoris Services o 41 998,7 % na 32 416 akcií. Firma zároveň oznámila za čtvrtletí EPS 0,59 USD, což zaostalo za odhadem 0,87 USD, a tržby 1,56 miliardy USD, což bylo pod odhadem 1,73 miliardy USD.
Bessemer Group Inc. boosted its stake in shares of Primoris Services Corporation (NYSE:PRIM – Free Report) by 41,998.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 32,416 shares of the company’s stock after acquiring an additional 32,339 shares during the period. Bessemer Group Inc. owned about 0.06% of Primoris Services worth $4,637,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRIM. Wellington Management Group LLP raised its position in shares of Primoris Services by 163.0% during the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock worth $216,774,000 after purchasing an additional 1,082,218 shares during the last quarter. Norges Bank acquired a new stake in Primoris Services in the 4th quarter worth about $103,368,000. State Street Corp boosted its holdings in Primoris Services by 56.8% in the 4th quarter. State Street Corp now owns 2,011,488 shares of the company’s stock worth $249,866,000 after buying an additional 728,646 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Primoris Services by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock worth $804,361,000 after buying an additional 466,192 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Primoris Services by 2,338.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 314,426 shares of the company’s stock worth $39,033,000 after buying an additional 301,532 shares in the last quarter. 91.82% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Primoris Services In related news, Director David Lee King sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the completion of the sale, the director owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the transaction, the insider directly owned 27,574 shares in the company, valued at $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.
Primoris Services Price Performance PRIM stock opened at $86.55 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The business has a 50 day simple moving average of $103.71 and a 200-day simple moving average of $133.01. The firm has a market capitalization of $4.70 billion, a PE ratio of 19.06 and a beta of 1.41. Primoris Services Corporation has a 1 year low of $65.00 and a 1 year high of $205.50.
Primoris Services (NYSE:PRIM – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. Primoris Services’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities research analysts anticipate that Primoris Services Corporation will post 1.88 earnings per share for the current fiscal year.
Primoris Services Announces Dividend The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Primoris Services’s payout ratio is presently 7.05%.
Analyst Ratings Changes A number of brokerages have commented on PRIM. Oppenheimer began coverage on Primoris Services in a report on Tuesday, July 7th. They set an “outperform” rating and a $135.00 target price for the company. The Goldman Sachs Group raised Primoris Services from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $107.00 to $102.00 in a research note on Thursday, June 25th. JPMorgan Chase & Co. upgraded Primoris Services from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $105.00 to $116.00 in a research report on Monday, June 29th. Guggenheim restated a “buy” rating and issued a $162.00 price objective on shares of Primoris Services in a report on Tuesday, June 23rd. Finally, Cantor Fitzgerald lowered their target price on shares of Primoris Services from $124.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, June 25th. Eleven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Primoris Services has an average rating of “Moderate Buy” and an average target price of $137.47.
Get Our Latest Report on PRIM
About Primoris Services (Free Report)
Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.
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Primoris Services oznámila další problémy a překročení nákladů v projektech obnovitelných zdrojů, což srazilo akcie během intradenního obchodování o 40 %. Firma zároveň uvedla odchod COO.
SAN FRANCISCO, July 15, 2026 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NYSE: PRIM) shares cratered again during intraday trading on June 23, 2026 (-$43.34, -40%), on the company’s disclosure of additional challenges to- and cost overruns within- its renewables business projects and the abrupt departure of its Chief Operating Officer.
The news follows Primoris’ May 5, 2026 disclosure that it suffered huge year-over-year and sequential declines in revenues and gross profits for its Energy segment and identified ongoing, expanded issues with its renewables business, news which sent the price of company shares tumbling $101.69 (-50%).
Hagens Berman is actively investigating whether Primoris’ pre-May 5 statements about trends in- and operational performance of- its renewables business misled investors and, if so, whether the company violated the federal securities laws.
The firm encourages Primoris investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist the investigation to contact its attorneys.
Visit: www.hbsslaw.com/investor-fraud/prim
Contact the Firm Now: [email protected]
844-916-0895
Primoris’ renewable business is part of the company’s core Energy segment and historically has contributed roughly 40% of Primoris’ entire annual revenue.
After the markets closed on June 22, 2026, Primoris shocked investors when it announced that “[a]dditional challenges and cost overruns were identified as a result of continued progress on projects in the Company’s Renewables business.” Importantly, as a result of ongoing problems in six projects and additional challenges, Primoris said its 2026 renewables business revenues would decline 30% ($900 million) from the $3 billion revenues reported for 2025.
This news follows two previous disclosures about Primoris’ renewables business problems, one downplaying and the next partially indicating problems in the business.
First, in February 2026, Primoris management attributed lower gross margins to “unexpectedly higher costs” at certain renewables projects, citing difficult soil and rock conditions that required additional labor and equipment. While management later downplayed the issue as being isolated to a single project—expressing confidence in their remedial measures—they simultaneously touted the company’s ability to “accelerate project timelines” for 2026.
Second, on May 5, 2026, the market’s confidence in Primoris’s remedial measures was shattered when the company released its Q1 2026 financial results and revealed a staggering decline in the core Energy segment, with year-over-year revenues falling by $152.9 million (13.8%) and gross profits plunging by nearly 40%.
CEO Koti Vadlamudi admitted the next day during the May 6 earnings call that Primoris’s financial results were battered by cost pressures across multiple solar projects. Moving beyond the “rock and soil” reason used just months prior, Vadlamudi cited a litany of execution-related factors as the cause of the margin collapse:
Project Redesigns: Costly changes to existing plans.Labor Issues: Inability to manage specific workforce demands.Sequencing Errors: Failures in project management and timing.Weather Disruptions: Further complicating already delayed timelines Together, the May 5 and June 22, 2026 disclosures wiped out over $7.8 billion of Primoris’ market capitalization.
“We’re focused on when Primoris’ management learned of the full scope of the company’s renewables problems, including the apparent inadequacy of remediation measures,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.
If you invested in Primoris and have substantial losses, or have knowledge that will assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to other frequently asked questions about the firm’s Primoris investigation, read more »
Whistleblowers: Persons with non-public information regarding Primoris should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.
Pomerantz LLP vyšetřuje možné porušení zákona ze strany Primoris Services Corporation a upozorňuje na prudké snížení celoročního upraveného výhledu EBITDA z 560–580 milionů USD na 480–500 milionů USD.
NEW YORK, July 14, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Primoris Services Corporation (“Primoris” or the “Company”) (NYSE: PRIM). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Primoris and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On May 5, 2026, Primoris issued a press release reporting its financial results for the first quarter of 2026. Primoris reported results below analyst expectations and slashed full-year adjusted EBITDA guidance from $560-$580 million to $480-$500 million. Primoris attributed the reduction to lower renewable energy activity, delayed project starts, and increased costs on renewable energy projects.
On this news, Primoris’s stock price fell $101.69 per share, or 50.11%, to close at $101.23 per share on May 6, 2026.
Then, on June 22, 2026, Primoris issued a press release “announc[ing] a series of business updates including the departure of its Chief Operating Officer (‘COO’), effective today.” The press release also disclosed that “[a]dditional challenges and cost overruns were identified as a result of continued progress on projects in the Company’s Renewables business, including through an ongoing assessment by a third-party industry expert.” Primoris advised that it “also anticipat[es] lower revenue and gross profit for the full year 2026, primarily driven by lower expected revenue and gross profit in the Renewables business” and “now expects revenue in the Renewables business for the full year 2026 to be approximately $2.1 billion, compared to approximately $3.0 billion for the full year of 2025.” Accordingly, Primoris disclosed that it “anticipat[es] lower revenue and gross profit for the full year 2026, primarily driven by lower expected revenue and gross profit in the Renewables business” and “now expects revenue in the Renewables business for the full year 2026 to be approximately $2.1 billion, compared to approximately $3.0 billion for the full year of 2025.”
On this news, Primoris’s stock price fell $23.39 per share, or 21.59%, to close at $84.95 per share on June 23, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
Primoris Services oznámila další problémy a překročení nákladů v projektech obnovitelných zdrojů, což poslalo akcie v intradenním obchodování dolů o 40 %. Současně nečekaně odešel provozní ředitel.
SAN FRANCISCO, July 09, 2026 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NYSE: PRIM) shares cratered again during intraday trading on June 23, 2026 (-$43.34, -40%), on the company’s disclosure of additional challenges to- and cost overruns within- its renewables business projects and the abrupt departure of its Chief Operating Officer.
The news follows Primoris’ May 5, 2026 disclosure that it suffered huge year-over-year and sequential declines in revenues and gross profits for its Energy segment and identified ongoing, expanded issues with its renewables business, news which sent the price of company shares tumbling $101.69 (-50%).
Hagens Berman is actively investigating whether Primoris’ pre-May 5 statements about trends in- and operational performance of- its renewables business misled investors and, if so, whether the company violated the federal securities laws.
The firm encourages Primoris investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist the investigation to contact its attorneys.
Visit: www.hbsslaw.com/investor-fraud/prim
Contact the Firm Now: [email protected] | 844-916-0895
Primoris’ renewable business is part of the company’s core Energy segment and historically has contributed roughly 40% of Primoris’ entire annual revenue.
After the markets closed on June 22, 2026, Primoris shocked investors when it announced that “[a]dditional challenges and cost overruns were identified as a result of continued progress on projects in the Company’s Renewables business.” Importantly, as a result of ongoing problems in six projects and additional challenges, Primoris said its 2026 renewables business revenues would decline 30% ($900 million) from the $3 billion revenues reported for 2025.
This news follows two previous disclosures about Primoris’ renewables business problems, one downplaying and the next partially indicating problems in the business.
First, in February 2026, Primoris management attributed lower gross margins to “unexpectedly higher costs” at certain renewables projects, citing difficult soil and rock conditions that required additional labor and equipment. While management later downplayed the issue as being isolated to a single project—expressing confidence in their remedial measures—they simultaneously touted the company’s ability to “accelerate project timelines” for 2026.
Second, on May 5, 2026, the market’s confidence in Primoris’s remedial measures was shattered when the company released its Q1 2026 financial results and revealed a staggering decline in the core Energy segment, with year-over-year revenues falling by $152.9 million (13.8%) and gross profits plunging by nearly 40%.
CEO Koti Vadlamudi admitted the next day during the May 6 earnings call that Primoris’s financial results were battered by cost pressures across multiple solar projects. Moving beyond the “rock and soil” reason used just months prior, Vadlamudi cited a litany of execution-related factors as the cause of the margin collapse:
Project Redesigns: Costly changes to existing plans.Labor Issues: Inability to manage specific workforce demands.Sequencing Errors: Failures in project management and timing.Weather Disruptions: Further complicating already delayed timelines Together, the May 5 and June 22, 2026 disclosures wiped out over $7.8 billion of Primoris’ market capitalization.
“We’re focused on when Primoris’ management learned of the full scope of the company’s renewables problems, including the apparent inadequacy of remediation measures,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.
If you invested in Primoris and have substantial losses, or have knowledge that will assist the firm’s investigation, submit your losses now.
If you’d like more information and answers to other frequently asked questions about the firm’s Primoris investigation, read more.
Whistleblowers: Persons with non-public information regarding Primoris should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.
Primoris snížil celoroční výhled upraveného EBITDA z 560–580 milionů USD na 480–500 milionů USD a uvedl slabší výsledky za 1. čtvrtletí 2026. Akcie po zprávě prudce klesly.
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz continues its investigation of Primoris Services Corporation (“Primoris” or the “Company”) (NYSE: PRIM) on behalf of investors concerning the Company’s possible violations of federal securities laws.
IF YOU ARE AN INVESTOR WHO LOST MONEY ON PRIMORIS SERVICES CORPORATION (PRIM), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS.
What Is The Investigation About?
On May 5, 2026, Primoris issued a press release reporting its financial results for the first quarter of 2026. Primoris reported results below analyst expectations and slashed full-year adjusted EBITDA guidance from $560-$580 million to $480-$500 million. Primoris attributed the reduction to lower renewable energy activity, delayed project starts, and increased costs on renewable energy projects.
On this news, Primoris's stock price fell $101.69 per share, or 50.11%, to close at $101.23 per share on May 6, 2026, thereby injuring investors.
Then, on June 22, 2026, Primoris revealed a series of business updates including the departure of its Chief Operating Officer and a further slash to its financial outlook for the full year of 2026, in part due to “cost overruns and delays” related to six of the Company’s projects. The company also said it anticipates lower revenue and gross profit for full year 2026, primarily driven by lower expected revenue and gross profit in the renewables business, where it now sees full-year revenue at $2.1 billion to $3 billion.
On this news, Primoris’s stock price fell $23.39, or 21.6%, to close at $84.95 per share on June 22, 2026, thereby injuring investors further.
Contact Us To Participate or Learn More:
If you purchased Primoris securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Call us at: 310-914-5007
Visit our website at: www.frankcruzlaw.com.
Email us at: [email protected]
Follow us for updates on Twitter at twitter.com/FRC_LAW.
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Primoris snížila celoroční výhled na rok 2026 po dalších problémech a překročení nákladů v Renewables. Čistý zisk má být 71 až 101 milionů USD, proti dřívějším 223 až 234 milionům USD.
NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP continues its investigation on behalf of Primoris Services Corporation (“Primoris” or the “Company”) (NYSE:PRIM) investors concerning the Company’s and/or members of its senior management’s possible violation of the federal securities laws and other unlawful business practices.
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What Happened?
On May 5, 2026, Primoris reported its first quarter 2026 financial results and updated its full-year outlook. Among other things, the Company disclosed revenue of $1.6 billion, down 5.4% compared to the prior-year period, and net income of $17.4 million, compared to $44.2 million in the prior-year period. Primoris further disclosed that Energy segment operating income decreased by $49.1 million, or 62.2%, compared to the prior-year period, due to decreased revenue and increased costs on certain renewable energy projects. The Company stated that these higher costs were driven in part by project redesign efforts, changes in project sequencing, labor productivity challenges, and unfavorable weather conditions. Energy gross profit as a percentage of revenue declined to 7.6%, compared to 10.7% in the prior-year period. On this news, the price of Primoris shares declined by $101.69 per share, or approximately 50%, from $202.92 per share on May 5, 2026 to close at $101.23 on May 6, 2026.
Then on June 22, 2026, Primoris issued a Business Update revealing additional challenges and cost overruns in its Renewables business. The Company disclosed that the expected cost overruns were primarily related to six previously discussed projects, with several of those projects now expected to reach substantial completion during the third and fourth quarters of 2026. Primoris also disclosed that it anticipated lower revenue and gross profit for full-year 2026, primarily driven by lower expected revenue and gross profit in the Renewables business. The Company stated that it now expects full-year 2026 Renewables revenue of approximately $2.1 billion, compared to approximately $3.0 billion for full-year 2025. As a result, Primoris again reduced its full-year 2026 outlook. The Company now expects net income of $71 million to $101 million, EPS of $1.30 to $1.85, adjusted EPS of $2.05 to $2.60, and adjusted EBITDA of $275 million to $325 million. This compares to its prior May 2026 guidance of net income of $223 million to $234 million, EPS of $4.05 to $4.25, adjusted EPS of $4.80 to $5.00, and adjusted EBITDA of $480 million to $500 million. Primoris also announced the departure of Jeremy Kinch from the Chief Operating Officer role, effective immediately. On this news, the price of Primoris shares declined by $23.39 per share, or approximately 22%, from $108.34 per share on June 22, 2026 to close at $84.95 on June 23, 2026.
What Should I Do?
At this stage, no lawsuit has been filed. The investigation is ongoing to determine whether claims may be brought under federal securities laws.
If you purchased or otherwise acquired Primoris securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at [email protected], or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.
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Primoris Services varoval před dalšími problémy a překročením nákladů v projektech obnovitelných zdrojů, zatímco náhlý odchod COO poslal akcie intradenně o 40 % níže. Firma zároveň čeká v roce 2026 pokles tržeb z obnovitelných zdrojů o 30 % na 900 milionů USD.
, /PRNewswire/ -- Primoris Services Corporation (NYSE: PRIM) shares cratered again during intraday trading on June 23, 2026 (-$43.34, -40%), on the company's disclosure of additional challenges to- and cost overruns within- its renewables business projects and the abrupt departure of its Chief Operating Officer.
The news follows Primoris' May 5, 2026 disclosure that it suffered huge year-over-year and sequential declines in revenues and gross profits for its Energy segment and identified ongoing, expanded issues with its renewables business, news which sent the price of company shares tumbling $101.69 (-50%).
Hagens Berman is actively investigating whether Primoris' pre-May 5 statements about trends in- and operational performance of- its renewables business misled investors and, if so, whether the company violated the federal securities laws.
The firm encourages Primoris investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist the investigation to contact its attorneys.
Visit: www.hbsslaw.com/investor-fraud/prim
Contact the Firm Now: [email protected]
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Primoris' renewable business is part of the company's core Energy segment and historically has contributed roughly 40% of Primoris' entire annual revenue.
After the markets closed on June 22, 2026, Primoris shocked investors when it announced that "[a]dditional challenges and cost overruns were identified as a result of continued progress on projects in the Company's Renewables business." Importantly, as a result of ongoing problems in six projects and additional challenges, Primoris said its 2026 renewables business revenues would decline 30% ($900 million) from the $3 billion revenues reported for 2025.
This news follows two previous disclosures about Primoris' renewables business problems, one downplaying and the next partially indicating problems in the business.
First, in February 2026, Primoris management attributed lower gross margins to "unexpectedly higher costs" at certain renewables projects, citing difficult soil and rock conditions that required additional labor and equipment. While management later downplayed the issue as being isolated to a single project—expressing confidence in their remedial measures—they simultaneously touted the company's ability to "accelerate project timelines" for 2026.
Second, on May 5, 2026, the market's confidence in Primoris's remedial measures was shattered when the company released its Q1 2026 financial results and revealed a staggering decline in the core Energy segment, with year-over-year revenues falling by $152.9 million (13.8%) and gross profits plunging by nearly 40%.
CEO Koti Vadlamudi admitted the next day during the May 6 earnings call that Primoris's financial results were battered by cost pressures across multiple solar projects. Moving beyond the "rock and soil" reason used just months prior, Vadlamudi cited a litany of execution-related factors as the cause of the margin collapse:
Project Redesigns: Costly changes to existing plans. Labor Issues: Inability to manage specific workforce demands. Sequencing Errors: Failures in project management and timing. Weather Disruptions: Further complicating already delayed timelines Together, the May 5 and June 22, 2026 disclosures wiped out over $7.8 billion of Primoris' market capitalization.
"We're focused on when Primoris' management learned of the full scope of the company's renewables problems, including the apparent inadequacy of remediation measures," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.
If you invested in Primoris and have substantial losses, or have knowledge that will assist the firm's investigation, submit your losses now »
If you'd like more information and answers to other frequently asked questions about the firm's Primoris investigation, read more »
Whistleblowers: Persons with non-public information regarding Primoris should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
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Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
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Primoris čelí vyšetřování kvůli možnému podvodu s cennými papíry poté, co snížila celoroční upravený výhled EBITDA a upozornila na další problémy v podnikání Renewables.
NEW YORK, June 30, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Primoris Services Corporation (“Primoris” or the “Company”) (NYSE: PRIM). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Primoris and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On May 5, 2026, Primoris issued a press release reporting its financial results for the first quarter of 2026. Primoris reported results below analyst expectations and slashed full-year adjusted EBITDA guidance from $560-$580 million to $480-$500 million. Primoris attributed the reduction to lower renewable energy activity, delayed project starts, and increased costs on renewable energy projects.
On this news, Primoris’s stock price fell $101.69 per share, or 50.11%, to close at $101.23 per share on May 6, 2026.
Then, on June 22, 2026, Primoris issued a press release “announc[ing] a series of business updates including the departure of its Chief Operating Officer (‘COO’), effective today.” The press release also disclosed that “[a]dditional challenges and cost overruns were identified as a result of continued progress on projects in the Company’s Renewables business, including through an ongoing assessment by a third-party industry expert.” Primoris advised that it “also anticipat[es] lower revenue and gross profit for the full year 2026, primarily driven by lower expected revenue and gross profit in the Renewables business” and “now expects revenue in the Renewables business for the full year 2026 to be approximately $2.1 billion, compared to approximately $3.0 billion for the full year of 2025.” Accordingly, Primoris disclosed that it “anticipat[es] lower revenue and gross profit for the full year 2026, primarily driven by lower expected revenue and gross profit in the Renewables business” and “now expects revenue in the Renewables business for the full year 2026 to be approximately $2.1 billion, compared to approximately $3.0 billion for the full year of 2025.”
On this news, Primoris’s stock price fell $23.39 per share, or 21.59%, to close at $84.95 per share on June 23, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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Argan oznámil rekordní výsledky za 1. fiskální čtvrtletí 2027: tržby vzrostly o 50 % na 291 milionů USD a backlog, tedy objem nevyřízených zakázek, stoupl o 49,1 % na zhruba 2,77 miliardy USD.
Key Takeaways Argan posted record results, with backlog up 49.1% and revenues rising 50% in fiscal Q1 2027.AGX benefits from power demand trends, while PRIM targets grid, gas and utility infrastructure growth.PRIM faces softer near-term execution and estimate cuts, while AGX earnings estimates moved higher. The rise in United States energy infrastructure spending is one of the strongest secular themes in the industrial sector, and companies like Argan, Inc. (AGX - Free Report) and Primoris Services Corporation (PRIM - Free Report) are well-positioned to benefit. The key point is that the US needs not only more electricity generation but also more infrastructure to produce, transport and deliver that power reliably.
Argan is a Virginia-based engineering and construction company, focused primarily on the power and industrial infrastructure markets. Primoris Services is a Texas-based specialty infrastructure contractor that provides engineering, construction, maintenance and replacement services for critical infrastructure projects across the United States and Canada.
Let’s closely compare the fundamentals of the two energy infrastructure stocks to determine which one is a better investment now.
The Case for Argan StockArgan is benefiting from powerful long-term energy infrastructure trends driven by data center expansion, manufacturing reshoring, electrification and growing electricity demand. Its expertise in large-scale natural gas and renewable power projects positions it well to capitalize on this opportunity. Despite normal project timing fluctuations, backlog remained exceptionally strong at approximately $2.77 billion as of the first-quarter fiscal 2027, which was up 49.1% year over year from $1.86 billion, supported by multiple large gas-fired projects and industrial contracts. Management expects to add several new projects over the next 10-18 months, providing visibility into future revenue growth and reinforcing confidence in sustained business momentum.
Besides, Argan delivered record first-quarter fiscal 2027 results, with revenues surging 50% year over year to $291 million. Gross margin expanded 200 basis points (bps) to 21%, while earnings per share (EPS) grew 102.5% to $3.24 year over year. Strong project execution, favorable contract mix and ahead-of-schedule completion of key projects supported profitability. Growth across all operating segments demonstrates broad-based demand and strengthens confidence in the company’s earnings trajectory.
AGX expects combined-cycle natural gas facilities to remain the dominant contributor to backlog while maintaining renewable capabilities to capture future opportunities. Expansion of industrial fabrication capacity, growing data-center-related demand and the company’s ability to execute 10-12 projects simultaneously further enhance its competitive position.
Notably, management follows a disciplined capital allocation strategy focused first on organic growth investments, including workforce expansion and fabrication capacity additions, followed by a growing dividend, opportunistic share repurchases and selective acquisitions. Argan ended the first quarter of fiscal 2027 with $973.6 million in cash, cash equivalents and investments, net liquidity of $421.4 million and no debt. Strong operating cash flow, customer prepayments, project advances and investment income continue to support liquidity. During the fiscal quarter ended April 30, 2026, Argan repurchased shares worth $3 million and paid dividends of $7 million.
Management follows a disciplined capital allocation strategy focused first on organic growth investments, including workforce expansion and fabrication capacity additions, followed by a growing dividend, opportunistic share repurchases and selective acquisitions. This balanced approach supports long-term growth while consistently returning capital to shareholders.
The Case for Primoris Services StockPrimoris Services remains well-positioned to capitalize on accelerating U.S. investment in power generation, grid modernization, natural gas infrastructure, pipelines and data centers. Management highlighted strong bidding activity across natural gas generation, renewables and pipeline projects, while Utilities continues to benefit from rising power delivery demand as customers expand grid reliability and capacity. Although total backlog moderated sequentially to $11.6 billion due to award timing, Utilities backlog climbed to a record $6.9 billion, supported by a 7.2% increase in recurring MSA backlog to $7.5 billion.
During the first quarter of 2026, the Utilities segment posted 12.3% year-over-year revenue growth, while the gross margin expanded 60 basis points to 9.8%, driven by higher power delivery and gas operations activity. Management expects Utilities margins to improve further toward its 10-12% target range, while Energy margins should recover beginning in the second quarter of 2026 as new natural gas and renewable projects ramp and PayneCrest contributes.
Moreover, PRIM continues to maintain a disciplined capital allocation strategy focused on balancing organic investments, strategic acquisitions and shareholder returns. Following the PayneCrest acquisition, the company retained strong liquidity of approximately $676.5 million, with plans to invest in growth opportunities while remaining selective about acquisitions that meet strict financial return thresholds.
Despite favorable long-term industry trends, Primoris Services faces several near-term headwinds. First-quarter 2026 consolidated revenues declined 5.4% year over year as renewable energy activity slowed and project timing shifted, while the Energy segment experienced weaker profitability due to execution challenges on a few legacy renewable projects and delayed project starts. In addition, the company expects first-half 2026 results to remain softer than the second half, making its full-year 2026 guidance increasingly dependent on successful project execution, margin recovery and timely conversion of its strong bid pipeline into awarded work.
Moreover, integration risks related to the PayneCrest acquisition and continued exposure to project timing, labor availability and customer spending patterns also remain factors investors should monitor.
Stock Performance & ValuationAs witnessed from the chart below, in the past three months, Argan’s share price performance has significantly outperformed Primoris Services’ declining trend and the broader Construction sector.
Image Source: Zacks Investment Research
Considering valuation, over the last five years, Argan has been trading above Primoris Services on a forward 12-month price-to-earnings (P/E) ratio basis.
Image Source: Zacks Investment Research
Overall, from these technical indicators, it can be deduced that AGX stock offers an accelerating growth trend but with a premium valuation, while PRIM stock offers a declining trend with a discounted valuation.
Comparing EPS Estimate Trends: AGX vs. PRIMThe Zacks Consensus Estimate for AGX’s fiscal 2027 and fiscal 2028 earnings has moved upward over the past 30 days to $12.60 and $16.66 per share, respectively. The revised estimates for fiscal 2027 and fiscal 2028 imply year-over-year growth of 29.4% and 32.2%, respectively.
AGX's EPS Trend
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for PRIM’s 2026 and 2027 earnings has trended downward over the past seven days to $2.75 and $5.26 per share, respectively. The revised estimates for 2026 imply a 51.1% year-over-year decline, while those for 2027 indicate 91.2% year-over-year growth.
PRIM's EPS Trend
Image Source: Zacks Investment Research
Return on Equity (ROE) of AGX & PRIM StocksArgan’s trailing 12-month ROE of 36.89% significantly exceeds Primoris Services’ average, underscoring its efficiency in generating shareholder returns.
Image Source: Zacks Investment Research
Investment Decision: Choosing AGX Stock Over PRIM Stock?Argan continues to execute exceptionally well, supported by broad-based growth across its power and industrial businesses. Rising demand for natural gas generation, renewable energy and data center infrastructure provides strong revenue visibility, while management expects additional project awards over the next 10-18 months. Earnings estimates for fiscal 2027 and 2028 continue to move higher, and its industry-leading 36.9% ROE reflects outstanding capital efficiency.
Meanwhile, Primoris Services also benefits from attractive infrastructure tailwinds, particularly in utilities and power delivery, with a record Utilities backlog and improving margin prospects. However, declining first-quarter revenues, execution challenges in legacy renewable projects, softer near-term guidance, acquisition integration risks and downward earnings estimate revisions temper the investment thesis.
Although Argan trades at a premium valuation, that premium appears justified by its superior execution, accelerating stock performance, stronger balance sheet and significantly better earnings trajectory. Its stronger fundamentals, positive estimate revisions, robust liquidity and favorable exposure to the expanding U.S. energy infrastructure cycle provide a more compelling risk-reward profile and greater upside potential than Primoris Services at the current stage.
Thus, with a Zacks Rank #1 (Strong Buy) compared with PRIM stock’s current Zacks Rank #5 (Strong Sell), AGX stock is clearly the better stock to buy now. You can see the complete list of today’s Zacks #1 Rank stocks here.
Primoris snížil výhled na rok 2026 kvůli dalším překročením nákladů a zpožděním v divizi Renewables; očekává výnosy divize Renewables kolem 2,1 mld. USD. COO Jeremy Kinch odešel a akcie klesly o 37,34 %.
Primoris stock is testing lower boundaries. Why did PRIM hit a new low? Jeremy Kinch departed from the COO role effective today. While the company conducts a search for a permanent successor, President and CEO Koti Vadlamudi will assume most COO responsibilities in the interim. “The Company thanks Jeremy for his contributions and wishes him well on his future endeavors,” Vadlamudi said.
Guidance CutThe guidance reduction stems from additional cost overruns and delays in the company’s Renewables business, identified through continued project progress and an ongoing assessment by a third-party industry expert. The overruns are primarily related to six previously disclosed projects. Primoris now expects full-year 2026 Renewables revenue of approximately $2.1 billion, down from approximately $3.0 billion in 2025.
For the full year 2026, the company now expects net income of $71.00 million to $101.00 million, EPS of $1.30 to $1.85 per fully diluted share, adjusted EPS of $2.05 to $2.60 and adjusted EBITDA of $275.00 to $325.00 million. The majority of the impact is expected to be reflected in second-quarter results.
“While we are disappointed by the additional costs experienced on a limited number of projects in our Renewables business, we remain confident in the long-term growth opportunities in our Renewables business and Primoris broadly,” said Vadlamudi.
The Silver LiningPrimoris Shares FallPRIM Price Action: At the time of publication, Primoris shares are trading 37.34% lower at $67.89, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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