Every material Form 8-K Primoris Services has filed with the SEC since November 04, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
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.
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
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.
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
Primoris reported first-quarter 2026 revenue of $1.6 billion, down 5.4%, and net income of $17.4 million, or $0.32 per diluted share, compared with $0.81 a year earlier. The company cited cost pressures on a limited number of renewables projects and updated its 2026 outlook to include the PayneCrest Electric acquisition, which closed May 1, 2026. The filing also reported director re-elections, a board committee appointment, and a $0.08 per share cash dividend.
Revenue of $1.6 billion, down 5.4% from the first quarter of 2025, mainly due to lower Energy segment revenue
Net income of $17.4 million, or $0.32 per diluted share, versus $44.2 million, or $0.81, a year earlier
Adjusted EBITDA of $60.5 million, down 39.1% from $99.4 million, with renewables project cost pressures cited
2026 outlook: adjusted EPS of $4.80 to $5.00 and Adjusted EBITDA of $480.0 to $500.0 million, updated to include PayneCrest
Primoris Services said director John P. Schauerman will retire from its Board of Directors at the conclusion of the 2026 Annual Meeting, expected April 30, 2026, and that the retirement is not due to any disagreement with the company. The Board intends to shrink to eight members effective at that meeting and does not plan to seek a replacement, a routine governance change with no stated financial effect.
Schauerman informed the company on March 12, 2026 that he will not stand for re-election
Retirement takes effect at the 2026 Annual Meeting, expected April 30, 2026
Board intends to reduce its size to eight members, effective at the Annual Meeting
Schauerman previously served as Chief Financial Officer from February 2008 to February 2009
Primoris Services reported fourth-quarter and full-year 2025 results on February 23, 2026. Full-year revenue and net income rose, but fourth-quarter net income fell 4.1% on higher costs on certain renewables projects and lower storm restoration work. The company expects 2026 GAAP earnings of $5.35 to $5.55 per diluted share and declared a $0.08 quarterly dividend.
Full-year 2025 revenue was $7.6 billion, up 19.0%, and net income was $274.9 million, or $5.02 per diluted share, up 52.0%.
Fourth-quarter 2025 net income was $51.8 million, or $0.95 per diluted share, down 4.1%, while revenue was $1.9 billion, up 6.7%.
2026 outlook: EPS of $5.35 to $5.55 per diluted share; adjusted EPS of $5.80 to $6.00.
Board declared a $0.08 per share cash dividend, with a record date of March 31, 2026, payable on or about April 15, 2026.
Primoris Services reported third-quarter 2025 revenue of $2,178.4 million, up 32.1% from a year earlier, and net income of $94.6 million, or $1.73 per diluted share, compared with $1.07 a year earlier. The company raised its full-year 2025 net income, EPS and Adjusted EBITDA guidance, and its board declared an $0.08 per share cash dividend payable January 15, 2026.
Q3 2025 revenue $2,178.4 million, up $529.3 million (32.1%), led by the Energy and Utilities segments
Full-year 2025 net income guidance raised to $260.5 million to $271.5 million; diluted EPS guidance raised to $4.75 to $4.95
Full-year 2025 Adjusted EBITDA guidance raised to $510 million to $530 million
Gross profit as a percentage of revenue fell to 10.8% from 12.0% a year earlier
Primoris Services appointed Koti Vadlamudi, a 30-year Jacobs executive, as President and CEO effective November 10, 2025, replacing interim CEO David King, who will remain Chairman. The filing sets out his pay package, including a $1,000,000 base salary, a 120% target bonus and a $3,000,000 target equity grant starting in 2026, which matters to shareholders as it defines the cost and incentives for the new leader.
Koti Vadlamudi, age 55, becomes President and CEO and joins the Board effective November 10, 2025
Initial annual base salary of $1,000,000; target cash bonus of 120% of base salary beginning in 2026
Sign-on awards include restricted stock units with a grant date value of about $900,000 and a one-time cash bonus of $1,050,000
David King, Interim President and CEO since March 20, 2025, will continue as Chairman
Primoris Services reported second-quarter 2025 revenue of $1,890.7 million, up 20.9% from a year earlier, and diluted EPS of $1.54 versus $0.91. The company raised its full-year 2025 diluted EPS guidance to $4.40 to $4.60 and its adjusted EPS guidance to $4.90 to $5.10, and declared a $0.08 per share dividend.
Q2 2025 revenue was $1,890.7 million, up $327.0 million, or 20.9%, from Q2 2024.
Diluted EPS was $1.54 versus $0.91; adjusted diluted EPS was $1.68 versus $1.04.
Full-year 2025 diluted EPS guidance was raised to $4.40 to $4.60; adjusted EPS guidance to $4.90 to $5.10.
Board declared a $0.08 per share cash dividend, record date September 30, 2025, payable on or about October 15, 2025.
Primoris reported first-quarter 2025 revenue of $1.6 billion, up 16.7% from a year earlier, with net income of $44.2 million, or $0.81 per diluted share, versus $0.35 a year earlier. The company maintained its full-year 2025 outlook and authorized a share purchase program of up to $150 million through April 30, 2028. The filing also covers board appointments, shareholder votes, and a quarterly dividend of $0.08 per share.
Q1 2025 revenue of $1,648.1 million, up $235.4 million, or 16.7%, led by the Energy and Utilities segments
Net income of $44.2 million, or $0.81 per diluted share, versus $18.9 million, or $0.35 per share, in Q1 2024
Full-year 2025 EPS outlook of $3.70 to $3.90 was maintained; the company did not change its guidance
Board authorized a share purchase program of up to $150 million, expiring April 30, 2028; dividend of $0.08 per share payable July 15, 2025
Primoris Services approved compensation for David King, named Interim President and CEO, and Jeremy Kinch, named Chief Operating Officer, with offer letters dated March 21, 2025. The filing shows King's base salary at $950,000 and an RSU grant of $1,250,000 vesting through the first anniversary of grant, while Kinch's base salary is $600,000 with a 2025 LTIP award of $1,000,000. Changes in top management and pay arrangements are relevant to shareholders as they set leadership and incentive terms.
David King: Interim President and CEO; base salary $950,000; RSUs worth $1,250,000 vesting through the first anniversary of grant; target bonus up to 120% of salary
Jeremy Kinch: Chief Operating Officer; base salary $600,000; 2025 LTIP award of $1,000,000; target bonus 100% of salary
Offer letters dated March 21, 2025; Kinch's terms complement his Employment Agreement dated January 7, 2025
Filing dated March 26, 2025, signed by CFO Kenneth M. Dodgen
Primoris announced that Chairman David King will serve as interim President and CEO, succeeding Tom McCormick, who separated from the company effective March 20, 2025 and resigned from the Board. The Board is searching for a permanent CEO, and Jeremy Kinch was promoted to Chief Operating Officer. The filing says Mr. McCormick's separation is unrelated to the company's financial statements or financial or business performance.
David King, age 72, named interim President and CEO; announced March 14, 2025
Tom McCormick separated effective March 20, 2025 and resigned from the Board on the same date
McCormick's severance includes $1,946,880 in severance pay (200% of base salary), a pro-rated 2025 bonus and COBRA premium payments
Jeremy Kinch, age 51, promoted to Chief Operating Officer effective immediately
Primoris reported fourth-quarter 2024 revenue of $1.7 billion, up 14.9 percent, and net income of $54.0 million, or $0.99 per diluted share, up 43.3 percent from a year earlier. For 2025, the company expects net income of $203.3 million to $214.3 million and diluted EPS of $3.70 to $3.90. Shareholders also received notice of a $0.08 per share cash dividend, payable on or about April 15, 2025.
Full-year 2024 revenue of $6.4 billion, up 11.4 percent; net income of $180.9 million, or $3.31 per diluted share, up 43.4 percent.
Total backlog of $11.9 billion at December 31, 2024, up 8.9 percent from year-end 2023.
2025 outlook: diluted EPS of $3.70 to $3.90 and adjusted EPS of $4.20 to $4.40.
Cash dividend of $0.08 per share declared February 19, 2025, for stockholders of record as of March 31, 2025.
On January 7, 2025, Primoris Services announced that Jeremy Kinch, previously President of Energy, was promoted to Chief Operations Support Officer, overseeing IT, real estate, fleet, project services and health, safety and environment. Kinch also entered an amended and restated employment agreement with a $560,000 initial base salary and a target bonus of 100% of base salary. The filing reports no financial results, and the Energy president role was filled by Heath Moncrief, so shareholders face a leadership reshuffle rather than a change to reported performance.
Promotion announced January 7, 2025; Kinch had been President of Energy since January 2021
Initial annual base salary of $560,000 and target cash bonus of 100% of base salary
Change-in-control severance: lump sum of 200% of base salary, pro rata bonus and up to two years of COBRA premium share
Heath Moncrief promoted to President of Energy, per the attached press release
Primoris reported third-quarter 2024 revenue of $1,649.1 million, up 7.8% from a year earlier, with net income of $58.4 million, or $1.07 per diluted share, compared with $0.89 a year earlier. The company raised its 2024 EPS guidance and increased its quarterly cash dividend to $0.08 per share from $0.06, which matters to shareholders because it reflects higher expected earnings and greater cash returned to holders.
Third-quarter revenue of $1,649.1 million, up $119.6 million, or 7.8%, with Energy and Utilities segments both growing
Diluted EPS of $1.07 versus $0.89 a year earlier; adjusted diluted EPS of $1.22 versus $1.02
2024 EPS guidance raised to $2.85 to $3.00, and adjusted EPS guidance raised to $3.40 to $3.55 per diluted share
Quarterly dividend raised to $0.08 per share from $0.06, declared October 30, 2024, payable on or about January 15, 2025 to holders of record as of December 31, 2024
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