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AI brief of an SEC Form 8-K · Primoris Services (PRIM)

Primoris Q1 net income falls to $17.4 million as revenue drops 5.4%

Negative Impact 4 of 5 earnings Written later

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.

Key points

  • 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

The filing

CompanyPrimoris Services (PRIM)
Form8-K, current report
Filed with the SECMay 5, 2026, 4:42 PM ET
Accession number0001361538-26-000014

Items reported: 2.02 Results of Operations5.02 Director / Officer Change5.07 Shareholder Vote Results8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 05, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.