Primoris Services Corporation's stock dropped over 50% after it reported first-quarter 2026 results below expectations and cut its full-year adjusted EBITDA guidance significantly due to lower renewable energy activity, project delays, and cost overruns. Further challenges in its renewables business led to the departure of its COO and a revised revenue forecast dropping from $3.0 billion in 2025 to $2.1 billion in 2026. These developments raised concerns about the company's financial health and prompted a securities fraud investigation by Pomerantz LLP on behalf of investors. The situation remains fluid as the company addresses ongoing project difficulties and investor claims.
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