Levi & Korsinsky notifies investors that it has commenced an investigation into Primoris Services Corporation (NYSE: PRIM) concerning potential violations of the federal securities laws.
Primoris Services Corporation shares plunged 21.6% intraday on June 22, 2026, after the Company cut its FY 2026 net-income guidance from $223--$234 million down to $71--$101 million, reduction of approximately 70% in a single announcement. The collapse followed a sharp divergence between what management had told investors and what the books ultimately showed. On the Q1 2026 earnings call dated May 6, 2026, CFO Ken Dodgen guided for full-year earnings per diluted share of $4.05--$4.25 and adjusted EBITDA of $480--$500 million. Six weeks later, the Company slashed its guidance on each metric, projecting earnings per share of $1.30--$1.85 and adjusted EBITDA of only $275—$325. The May 5, 2026 earnings release stated: "Importantly, the majority of our renewables portfolio continues to perform in line or ahead of expectations." The June 22 revision attributed the guidance collapse to cost overruns and schedule delays on six renewables projects. The Q1 2026 Form 10-Q, filed May 6, 2026, recorded goodwill of $856.9 million -- unchanged from 2025 -- with no impairment, no MD&A disclosure of the overruns, and no reference to COO Jeremy Kinch's pending departure, which was announced simultaneously with the guidance cut.
If you suffered a loss on your Primoris Services Corporation securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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