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Update: Primoris Services Shares Fall After Q1 Miss

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(Updates with the latest stock price movement in the headline and the first paragraph.)

Primoris Services (PRIM) shares fell 50% on Wednesday, a day after the company reported Q1 adjusted earnings and revenue below market expectations and issued full-year guidance well below analyst forecasts.

The company reported Q1 adjusted net income late Tuesday of $0.59 per diluted share, down from $0.98 a year ago.

Analysts polled by FactSet expected $0.85.

Revenue for the quarter ended March 31 was $1.56 billion compared with $1.65 billion a year earlier.

Analysts surveyed by FactSet expected $1.73 billion.

The company said it now expects adjusted EPS in the range of $4.80 to $5.00 for full year 2026. Analysts polled by FactSet expect $5.98.

Price: $101.19, Change: $-101.73, Percent Change: -50.13%

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