The scrutiny follows a turbulent second quarter for the Dallas-based firm. On May 5, 2026, Primoris disclosed first-quarter results that fell short of market expectations, prompting a reduction in full-year adjusted EBITDA guidance by as much as $80 million. Management cited delayed project timelines and rising costs within its renewable energy portfolio as the primary catalysts for the shortfall. Investors reacted sharply, sending the stock price down 50.11% to close at $101.23 on May 6.
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Pomerantz LLP Launches Investigation into Primoris Services Corporation
A 50% single-day stock collapse has triggered a formal investigation into Primoris Services Corporation. New York-based Pomerantz LLP is probing potential securities fraud following a series of downward guidance revisions and the abrupt departure of the company’s Chief Operating Officer amid mounting losses in its renewables division.
Pressure intensified on June 22 when the company announced the exit of its Chief Operating Officer alongside further negative disclosures. An ongoing third-party assessment revealed additional cost overruns, forcing the company to slash its full-year 2026 revenue forecast for the renewables segment to $2.1 billion, down from the $3 billion recorded in 2025. Shares subsequently dropped another 21.59% to $84.95. Pomerantz LLP is now seeking information from shareholders regarding these developments as part of a potential class action litigation.
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