Primoris shares plunge 50% after major revenue and profit drops in renewables segment.

Primoris Services Corporation's shares fell 50% following a report of significant year-over-year revenue and gross profit declines in its Energy segment, particularly in renewables which account for 40% of total revenue. The company revealed multiple operational issues including project redesigns, labor problems, sequencing errors, and weather disruptions, leading to a sharp margin collapse. This triggered a $5.5 billion market value loss and prompted an investigation by Hagens Berman into whether Primoris properly disclosed these problems earlier. Investors suffering losses are encouraged to submit claims as the investigation continues.