Nov 3, 5:04 PM ET
Primoris reported third-quarter 2026 revenue of $2.0 billion, down 10.4% from a year earlier, and net income of $51.3 million, or $0.95 per diluted share, versus $1.73 in the third quarter of 2025. The decline was mainly due to lower renewables activity in the Energy segment, and the company updated its full-year 2026 guidance while also declaring a dividend and authorizing a $250 million share purchase program.
- Q3 2026 revenue was $2.0 billion, down 10.4%; Energy segment revenue fell 17.6%.
- Diluted EPS was $0.95 versus $1.73; adjusted diluted EPS was $1.20 versus $1.88.
- Full-year 2026 diluted EPS guidance is $1.20 to $1.35; adjusted EPS guidance is $2.10 to $2.25.
- Board declared a $0.08 per share dividend payable about January 15, 2027, and authorized a $250 million buyback with no expiration date.
Read the filing on SEC.gov ↗
Aug 31, 4:24 PM ET
Primoris Services Corporation said its board increased to ten members and appointed James A. Greer and Oscar K. Brown as directors, effective October 1, 2026. Both are energy-industry executives, with Mr. Greer's background in electric delivery operations and Mr. Brown's in energy leadership, finance and governance.
- Board size increased to ten members; appointments take effect October 1, 2026
- Mr. Greer served as Executive Vice President and Chief Operating Officer of Oncor Electric Delivery Company LLC from October 2011 until his retirement in 2025
- Mr. Brown has been President and Chief Executive Officer of Western Midstream Partners, LP since October 2024
- Both directors' terms expire at the 2027 annual meeting; no committee assignments have been made yet
Read the filing on SEC.gov ↗
Aug 4, 4:37 PM ET
Primoris Services reported a second-quarter 2026 net loss of $24.2 million, or $0.45 per diluted share, compared with net income of $84.3 million a year earlier, as revenue fell 10.7% to $1,688.2 million, mainly from lower renewables work in its Energy segment. The company maintained its full-year 2026 outlook and declared an $0.08 per share dividend, but the filing says first-half results fell short of management's expectations.
- Q2 2026 revenue was $1,688.2 million, down 10.7% from the prior-year quarter, driven by lower Energy segment revenue.
- Net loss was $24.2 million ($0.45 per diluted share) versus net income of $84.3 million in Q2 2025; adjusted EBITDA was $11.4 million versus $154.6 million.
- Energy segment gross loss was 0.3% of segment revenue, tied to cost overruns on six renewable energy projects.
- Full-year 2026 guidance was maintained, including net income of $71.0 million to $101.0 million; a $0.08 per share dividend is payable October 15, 2026 to holders of record on September 30, 2026.
Read the filing on SEC.gov ↗
Jun 22, 4:27 PM ET
Primoris lowered its full-year 2026 outlook, citing additional cost overruns and delays on six Renewables projects, and now expects net income of $71.0 million to $101.0 million, down from $223.0 million to $234.0 million. The company also said Chief Operating Officer Jeremy Kinch left on June 22, 2026, with CEO Koti Vadlamudi covering the role during a search, and it reported about $2.0 billion in second-quarter Energy segment awards and about $50 million of share repurchases.
- Full-year 2026 net income now expected at $71.0 million to $101.0 million, down from $223.0 million to $234.0 million
- Diluted EPS now $1.30 to $1.85 (previously $4.05 to $4.25); Adjusted EBITDA now $275.0 million to $325.0 million (previously $480.0 million to $500.0 million)
- Renewables revenue for 2026 expected at about $2.1 billion versus about $3.0 billion in 2025
- COO Jeremy Kinch departed June 22, 2026; the company said it was not related to any financial or accounting issue
Read the filing on SEC.gov ↗
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