#United States #New York #Pomerantz Law #Investor Alert #Primoris Services

Pomerantz Law Firm Investigates Primoris Services Corporation

On July 16, 2026, Pomerantz LLP announced an investigation into claims concerning Primoris Services Corporation, listed on the NYSE under the symbol PRIM. This revelation comes as Primoris faces significant scrutiny following a series of troubling financial disclosures that have raised concerns among investors regarding potential securities fraud and unlawful business practices by the company’s leadership.

The investigation commenced after an alarming press release from Primoris on May 5, 2026, in which the company reported its financial performance for the first quarter of the fiscal year. Not only did the results fall significantly short of analysts' expectations, but Primoris also revised its full-year adjusted EBITDA guidance downward from an initial forecast of $560 million to $580 million, trimming it to a troubling range of $480 million to $500 million. This sharp decrease was primarily attributed to a slump in renewable energy operations, delays in project commencement, and escalating costs associated with renewable projects.

Following this announcement, Primoris's stock endured a drastic decline, plummeting $101.69 per share or about 50.11%, closing at $101.23 on May 6, 2026. The fallout from these disclosures was compounded on June 22, 2026, when the company made another damning announcement, revealing the departure of its Chief Operating Officer and acknowledging additional complications and unforeseen expenses tied to ongoing projects within the Renewables sector. This further bad news led to investor panic, culminating in another sharp decline of the stock price by $23.39 or 21.59%, with shares closing at $84.95 on June 23, 2026.

The details unveiled paint a grim picture of Primoris's current standing. The firm indicated that its Renewables division is expected to reel in approximately $2.1 billion in revenue for 2026, a stark contrast to the $3.0 billion projected for 2025. This negative trajectory has left investors wondering about the sustainability of the company's operations and the transparency of its financial reporting.

Pomerantz LLP, known for its robust track record in securities class action lawsuits, urges any investors affected by these developments to reach out. The firm's expertise, bolstered by over 85 years of historical precedence in fighting for victims of corporate misdeeds, positions it as a critical ally for stakeholders seeking accountability from Primoris's management.