Primoris posts $24.2 million Q2 net loss as revenue falls 10.7%
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.
Key points
- 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.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:39 AM ET, from the text of the filing and its press-release exhibits 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 August 04, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.