The scrutiny centers on the company’s struggling renewable energy division. On May 5, 2026, Primoris reported results that fell short of analyst projections and lowered its full-year adjusted EBITDA guidance to a range between $480 million and $500 million. Management cited delayed project starts and rising costs within the renewables sector as the primary drivers for this downturn.
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Primoris Services Faces Class Action Investigation After Stock Slide
A 50% single-day stock collapse following an earnings miss in May, followed by a further 21% drop in June, has triggered a formal investigation into Primoris Services Corporation. New York-based Pomerantz LLP is currently examining whether the company or its leadership engaged in securities fraud or unlawful business practices.
The situation intensified on June 22, 2026, when the company announced the departure of its Chief Operating Officer alongside a fresh round of downward revisions. A third-party assessment revealed additional cost overruns, forcing the firm to slash its annual revenue expectations for the renewables business to $2.1 billion, down from $3.0 billion in 2025. Investors impacted by these developments are being urged to contact Danielle Peyton at Pomerantz LLP to discuss potential participation in class action litigation.
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