Primoris Services Corporation
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If you suffered a loss on your Primoris Services Corporation investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. Please note that submission of this form does not by itself form an attorney-client relationship nor does filling out this form mean you have joined any lawsuit.
Background
On February 23, 2026, after market hours, Primoris released its fourth quarter and full year 2025 financial results, disclosing 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’ stock price fell $13.72, or 8.3%, to close at $151.92 per share on February 24, 2026, thereby injuring investors.
On May 5, 2026, after market hours, Primoris released its first quarter 2026 finanial results, reporting results below analyst expectations and slashing 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 8, 2026, Primoris announced that its President of Renewables was departing the Company, effective immediately.
On this news, Primoris’ stock price fell $18.92, or 15.4%, to close at $103.90 per share on June 9, 2026.
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.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Primoris’ cost estimation, cost-to-complete forecasting, and project oversight processes were deficient and failed to provide reliable estimates of the costs and expected profitability of significant fixed-price renewable energy projects; (2) as a result, Primoris systematically underestimated the costs and risks of significant fixed-price renewable energy projects that were experiencing material cost overruns, execution problems, and schedule delays; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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