Primoris Services (NYSE:PRIM) Issues Earnings Results, Beats Expectations By $0.08 EPS

Primoris Services (NYSE:PRIM) announced its earnings results on Tuesday. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.08, FiscalAI reports. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%.

Primoris Services Trading Up 3.5%

Shares of NYSE PRIM traded up $3.06 on Tuesday, reaching $90.90. 1,463,299 shares of the company traded hands, compared to its average volume of 1,452,400. Primoris Services has a fifty-two week low of $65.00 and a fifty-two week high of $205.50. The company has a 50 day moving average of $98.34 and a 200 day moving average of $129.89. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $4.93 billion, a PE ratio of 20.02 and a beta of 1.43.

Analysts Set New Price Targets

Several research firms have issued reports on PRIM. UBS Group decreased their price target on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Roth Capital reissued a “buy” rating and set a $100.00 price objective on shares of Primoris Services in a research note on Monday, July 20th. Weiss Ratings lowered shares of Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Needham & Company LLC lowered their target price on shares of Primoris Services from $188.00 to $172.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Finally, Cantor Fitzgerald cut their price target on Primoris Services from $124.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, June 25th. Eleven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.47.

Primoris Services News Roundup

Here are the key news stories impacting Primoris Services this week:

• Positive Sentiment: Record backlog and maintained outlook provide support. Primoris reported a record $13.9 billion backlog, including $8.2 billion in master service agreement backlog, and maintained its 2026 earnings outlook of $1.30 to $1.85 per diluted share. The board also declared a quarterly dividend of $0.08 per share. Primoris Reports $24.2 Million Q2 Loss as Revenue Falls 10.7%
• Positive Sentiment: Adjusted earnings exceeded expectations. Second-quarter EPS of negative $0.27 was better than the consensus estimate of negative $0.35, which may have helped limit the negative reaction to the headline loss. Primoris quarterly earnings release
• Neutral Sentiment: Utilities growth partly offset weakness in Energy. Utilities revenue increased 2.8% to $712.6 million, but the Energy segment declined 19.2% to $999.9 million, leaving total revenue below analyst expectations.
• Negative Sentiment: Quarterly profitability deteriorated sharply. Revenue fell 10.7% year over year to $1.688 billion, while Primoris posted a $24.2 million net loss versus $84.3 million of net income a year earlier. Management cited margin pressure on renewable-energy projects, reinforcing concerns about project execution and cost controls. Primoris second-quarter results
• Negative Sentiment: Multiple law firms publicized a securities class action. The lawsuit alleges Primoris misled investors regarding renewable-project bidding, cost forecasting, project oversight and expected profitability. The allegations have not been proven, but the litigation adds reputational, financial and uncertainty risks; the lead-plaintiff deadline is September 21, 2026. Primoris securities class action notice
• Negative Sentiment: Insider selling is an additional sentiment headwind. Insiders reported nine sales versus two purchases over the past six months, although the transactions do not by themselves establish a fundamental outlook.

Insider Activity at Primoris Services

In related news, Director David Lee King sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the sale, the director directly owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the transaction, the insider directly owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This trade represents a 51.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Primoris Services

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in Primoris Services by 163.0% during the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock worth $216,774,000 after purchasing an additional 1,082,218 shares in the last quarter. State Street Corp raised its holdings in Primoris Services by 56.8% in the fourth quarter. State Street Corp now owns 2,011,488 shares of the company’s stock valued at $249,866,000 after buying an additional 728,646 shares during the period. Balyasny Asset Management L.P. lifted its position in Primoris Services by 2,856.0% during the third quarter. Balyasny Asset Management L.P. now owns 273,605 shares of the company’s stock valued at $37,574,000 after buying an additional 264,349 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Primoris Services by 88.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 538,345 shares of the company’s stock valued at $66,830,000 after buying an additional 251,925 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Primoris Services by 63.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 612,154 shares of the company’s stock worth $75,993,000 after buying an additional 237,427 shares during the period. 91.82% of the stock is owned by hedge funds and other institutional investors.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.