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Primoris shares plunge 40% on renewables revenue drop and COO exit, sparking legal probe.

Market News
24 Jun 2026
GlobeNewsWire
View Source
Bearish
pluang ai news

Primoris Services Corporation's shares fell 40% intraday following the announcement of additional cost overruns and challenges in its renewables projects, alongside the sudden departure of its COO. The company revealed that its 2026 renewables revenue is expected to decline 30% to $2.1 billion from $3 billion in 2025, worsening earlier reported financial struggles in the Energy segment. These disclosures have wiped out over $7.8 billion in market value and prompted an investigation by Hagens Berman into possible investor misinformation. Investors who suffered losses and whistleblowers with relevant information are encouraged to come forward as the firm examines whether Primoris violated securities laws.

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