Primoris shares plunge 50% after cutting 2026 earnings forecast amid project delays and rising costs

Primoris Services Corporation reported Q1 2026 results below expectations and cut its full-year adjusted EBITDA forecast from $560-$580 million to $480-$500 million. The company cited lower renewable energy activity, delayed project starts, and increased costs as reasons for the downgrade. Following the announcement, Primoris's stock price dropped 50.11%, closing at $101.23 on May 6, 2026. Investors are now involved in a securities fraud investigation led by Pomerantz LLP, questioning whether company officials engaged in unlawful practices related to the financial disclosures.