The Portnoy Law Firm advises Primoris Services Corporation, (“Primoris" or the "Company") (NYSE: PRIM) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
LOS ANGELES, July 09, 2026 (GLOBE NEWSWIRE) -- Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/primoris-services-corporation. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
When Primoris issued a press release on May 5, 2026, reporting its first-quarter financial results, the company's performance fell short of analyst expectations. In the same release, Primoris slashed its full-year adjusted EBITDA guidance from $560–$580 million down to $480–$500 million, citing delayed project starts, lower renewable energy activity, and rising costs within its renewable energy projects. This news caused a sharp reaction in the market on May 6, 2026, as Primoris's stock price plunged 50.11%—dropping $101.69 per share to close at $101.23—thereby injuring investors.
Further investor injury occurred following a subsequent announcement on June 22, 2026, when Primoris revealed a series of major business updates, prompting the stock to drop another 21.6% ($23.39) to close at $84.95 per share. In this June disclosure, the company announced the immediate departure of its Chief Operating Officer alongside another downward revision to its full-year 2026 financial outlook. Primoris attributed the lowered expectations in part to "cost overruns and delays" tied to six company projects. Additionally, management noted that it anticipates lower overall revenue and gross profit for the full year, heavily driven by its renewables segment, where full-year revenue projections were reduced to a range of $2.1 billion to $3 billion.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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