NEW YORK, Aug. 6, 2026 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against Primoris Services Corporation (“Primoris” or the “Company”) (NYSE: PRIM). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Primoris and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until September 21, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Primoris securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On February 23, 2026, Primoris issued a press release reporting its fourth-quarter and full-year 2025 financial results. In the press release, Primoris disclosed 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’s stock price fell $13.72 per share, or 8.28%, to close at $151.92 per share on February 24, 2026.
Then, on May 5, 2026, Primoris issued a press release reporting its financial results for the first quarter of 2026. In the press release, Primoris disclosed additional adverse developments affecting its renewable energy business, including revenue and margin pressure, delayed project starts, and weaker-than-expected first-quarter 2026 results. The Company also reduced its full-year 2026 Adjusted EPS guidance from $5.80-$6.00 to $4.80-$5.00 and lowered its Adjusted EBITDA guidance.
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 issued a press release announcing that Anthony Vorderbruggen, the Company’s President of Renewables, was departing Primoris, effective immediately.
On this news, Primoris’s stock price fell $18.92 per share, or 15.4%, to close at $103.90 per share on June 9, 2026.
Finally, on June 22, 2026, Primoris issued a Business Update announcing that, following an internal review supported by an independent third-party industry expert, it had identified substantial challenges, cost overruns, and project delays affecting six renewable energy projects. The Company reduced its full-year 2026 Adjusted EPS guidance to $2.05-$2.60, lowered its Adjusted EBITDA guidance to $275 million-$325 million, projected that 2026 Renewables revenue would decline to approximately $2.1 billion, and announced the resignation of its Chief Operating Officer.
On this news, Primoris’s stock price fell $23.39 per share, or 21.59%, to close at $84.95 per share on June 23, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
