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Primoris shares plunge 40% on renewables project issues and COO exit, sparking investor lawsuit.

Market News
25 Jun 2026
PRNewsWire
View Source
Bearish
pluang ai news

Primoris Services Corporation's shares dropped 40% following disclosures of major cost overruns and challenges in its renewables projects, along with the sudden departure of its COO. The company revealed that revenues from its renewables business, a key part of its Energy segment, are expected to fall 30% in 2026 due to ongoing problems in six projects. This follows earlier warnings of financial declines and operational issues, which have wiped out over $7.8 billion in market value. Investors are now urged to report losses as a law firm investigates potential securities law violations related to the company's prior statements about its renewables business performance.

More News

Climate Risk Management Market to hit $19.08B by 2031 with 17.3% CAGR, driven by AI and geospatial tech adoption

Climate Risk Management Market to hit $19.08B by 2031 with 17.3% CAGR, driven by AI and geospatial tech adoption

The global Climate Risk Management Market is projected to grow from $8.59 billion in 2026 to $19.08 billion by 2031, at a CAGR of 17.3%. Growth is fueled by increasing adoption of AI-driven analytics, geospatial intelligence, and cloud-native platfor...

Market News
Bullish
33 minutes ago
Australia's social commerce market to reach $63.55B by 2026, growing 10.6% annually driven by mobile and video commerce.

Australia's social commerce market to reach $63.55B by 2026, growing 10.6% annually driven by mobile and video commerce.

Australia's social commerce market is projected to grow at a 10.6% annual rate, reaching $63.55 billion by 2026 and continuing to $93.38 billion by 2031. Growth is fueled by sectors like clothing, beauty, and electronics, with mobile commerce, video ...

Market News
Bullish
33 minutes ago
ScamCheck app wins AI Safety Solution of the Year for advanced scam detection using AI.

ScamCheck app wins AI Safety Solution of the Year for advanced scam detection using AI.

TrendLife's ScamCheck app won the AI Safety Solution of the Year award for its innovative AI-powered scam detection. The app analyzes texts, calls, emails, and websites to identify subtle scam signs, including deepfake videos and multi-step fraud tac...

Others
Bullish
33 minutes ago
Webinar on boosting brand visibility in AI search through press releases and earned media on June 30

Webinar on boosting brand visibility in AI search through press releases and earned media on June 30

A webinar on June 30, 2026, hosted by the American Marketing Association and Notified, will discuss how brands can increase visibility in AI-powered search using press releases and earned media. The session will cover practical strategies to optimize...

Others
Neutral
1 hour ago
Jyske Realkredit sets coupon interest rates for multiple bond series from July to September 2026.

Jyske Realkredit sets coupon interest rates for multiple bond series from July to September 2026.

Jyske Realkredit A/S announced the fixed coupon interest rates for several bond series effective from July 1, 2026, to September 30, 2026. The rates range from 2.31% to 2.92% per annum depending on the bond series. This update informs investors about...

Company Fundamentals
Neutral
3 hours ago
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