Law Offices of Howard G. Smith Encourages Primoris Services Corporation (PRIM) Shareholders To Inquire About Securities Fraud Class Action

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Primoris Services Corporation (“Primoris” or the “Company”) (NYSE: PRIM) common stock between August 5, 2025 and June 22, 2026, inclusive (the “Class Period”). Primoris investors have until September 21, 2026 to file a lead plaintiff motion.

IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN PRIMORIS SERVICES CORPORATION (PRIM), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.

Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at [e-mail], by telephone at [phone] or visit our website at www.howardsmithlaw.com.

What Happened?

On February 23, 2026, after market hours, Primoris released its fourth quarter and full year 2025 financial results, disclosing increased costs on certain renewable energy projects, more challenging-than-anticipated soil conditions, and margin compression within its Energy segment, acknowledging that these issues adversely affected fourth-quarter profitability despite higher revenue.

On this news, Primoris’ stock price fell $13.72, or 8.3%, to close at $151.92 per share on February 24, 2026, thereby injuring investors.

On May 5, 2026, after market hours, Primoris released its first quarter 2026 financial results, reporting results below analyst expectations and slashing full-year adjusted EBITDA guidance from $560-$580 million to $480-$500 million. Primoris attributed the reduction to lower renewable energy activity, delayed project starts, and increased costs on renewable energy projects.

On this news, Primoris's stock price fell $101.69 per share, or 50.11%, to close at $101.23 per share on May 6, 2026.

Then, on June 8, 2026, Primoris announced that its President of Renewables was departing the Company, effective immediately.

On this news, Primoris’ stock price fell $18.92, or 15.4%, to close at $103.90 per share on June 9, 2026.

Then, on June 22, 2026, Primoris revealed a series of business updates including the departure of its Chief Operating Officer and a further slash to its financial outlook for the full year of 2026, in part due to “cost overruns and delays” related to six of the Company’s projects. The Company also said it anticipates lower revenue and gross profit for full year 2026, primarily driven by lower expected revenue and gross profit in the renewables business, where it now sees full-year revenue at $2.1 billion to $3 billion.

On this news, Primoris’s stock price fell $23.39, or 21.6%, to close at $84.95 per share on June 22, 2026, thereby injuring investors further.

What Is The Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Primoris’ cost estimation, cost-to-complete forecasting, and project oversight processes were deficient and failed to provide reliable estimates of the costs and expected profitability of significant fixed-price renewable energy projects; (2) as a result, Primoris systematically underestimated the costs and risks of significant fixed-price renewable energy projects that were experiencing material cost overruns, execution problems, and schedule delays; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Contact Us To Participate or Learn More:
If you purchased Primoris common stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: [phone]
Email: [e-mail],
Visit our website at: www.howardsmithlaw.com.

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