Overview
- Primoris reported adjusted EPS of $0.59 and revenue of $1.56 billion versus Wall Street targets of $0.84 and $1.73 billion.
- The company lowered its 2026 adjusted EPS forecast to $4.80 to $5.00 from $5.80 to $6.00.
- CEO Koti Vadlamudi said a few renewables projects drove the shortfall and should be largely done in 2026.
- The stock dropped sharply in intraday trading, with Benzinga Pro showing a 48.6% fall to $104.37 at publication.
- Profitability deteriorated, with operating margin sliding to 1.6% from 4.3% a year earlier.