The scrutiny centers on the company’s struggling renewable energy division. On May 5, 2026, Primoris reported first-quarter results that missed analyst expectations and slashed its full-year adjusted EBITDA guidance by as much as $100 million. Shares plummeted 50.11% the following day as management cited project delays and rising costs.
Pomerantz LLP Launches Investigation into Primoris Services
A 50% single-day stock plunge followed by the sudden departure of its Chief Operating Officer has triggered a formal investigation into Primoris Services Corporation. New York-based Pomerantz LLP is currently examining whether the company and its leadership engaged in securities fraud or unlawful business practices following a series of downward financial revisions.
Conditions worsened on June 22, when the firm announced the exit of its COO alongside further cost overruns. Projections for the renewables segment were revised sharply downward, with expected annual revenue falling to $2.1 billion from $3.0 billion in 2025. This disclosure triggered another sell-off, with shares dropping an additional 21.59%. Investors affected by these losses are being urged to contact Danielle Peyton at Pomerantz LLP to discuss potential claims.
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