Primoris Services Corp (NYSE:PRIM) shares are under pressure Wednesday after the company delivered a disappointing first‑quarter report and slashed its full‑year 2026 earnings outlook.
- Primoris Services stock is among today’s weakest performers. What’s pressuring PRIM stock?
Earnings Miss
Primoris posted adjusted earnings of 59 cents per share, far short of the 84 cents analysts were looking for and down sharply from 98 cents a year ago. Revenue also missed, coming in at $1.56 billion versus the $1.732 billion consensus and falling 5.34% from last year’s first quarter.
The bigger blow came from guidance. Management cut its full‑year adjusted EPS forecast to $4.80–$5.00 and down from $5.80–$6.00.
Renewables Projects Drive The Weakness
CEO Koti Vadlamudi said the quarter was dragged down by “cost pressures on a limited number of renewables projects,” which the company expects to substantially complete during 2026. The impact was clear across the …