Expect sharp sell-off on the earnings miss and guidance cut. Listen to the conference call for details on renewables project recovery timing and PayneCrest integration. The guidance reduction is severe, suggesting underlying issues may persist beyond Q1. Monitor competitor and industry reaction to assess if this is company-specific or sector-wide.
Price Chart
Executive Summary
Primoris reported Q1 2026 revenue of $1.56B (down 5.4% YoY) and GAAP diluted EPS of $0.32 (down 60% YoY, massively missing the $0.81 consensus). The company slashed its full-year 2026 guidance by ~25%, now expecting EPS of $4.05-4.25 vs prior $5.35-5.55, citing cost overruns on renewables projects and slower project starts. While the acquisition of PayneCrest ($399.5M) adds data center exposure, the organic deterioration and guidance cut dominate the narrative.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $1.56B, down 5.4% YoY from $1.65B
- GAAP diluted EPS $0.32, down from $0.81 YoY; Adjusted EPS $0.59, down from $0.98
- Net income $17.4M, down 60.6% from $44.2M YoY
- Adjusted EBITDA $60.5M, down 39.1% from $99.4M
- Energy segment revenue down 13.8%, operating income down 62.2%
- FY2026 guidance cut: EPS now $4.05-4.25 vs prior $5.35-5.55; Adj. EBITDA $480-500M vs prior $560-580M
- Completed PayneCrest acquisition for ~$399.5M on May 1, 2026
- Operating cash flow negative $122.6M vs positive $66.2M a year ago
Financial Impact
EPS miss of ~$0.49 vs consensus $0.81; guidance cut implies ~$1.30 EPS reduction vs prior midpoint
Risk Factors
- Continued cost overruns on renewables projects may erode margins further
- Energy segment revenue decline could persist if project awards slow
- Integration risk with PayneCrest acquisition ($399.5M) may pressure near-term cash flow
- Lowered guidance implies management sees headwinds that could take quarters to resolve
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001361538-26-000014 |
| Document: prim-20260430x8k.htm | 0001361538-26-000014 |
| Document: 0001361538-26-000014-index-headers.html | 0001361538-26-000014 |
| Document: 0001361538-26-000014-index.html | 0001361538-26-000014 |
| Document: 0001361538-26-000014.txt | 0001361538-26-000014 |
| 8-K Data (Synthetic) | 0001361538-26-000014 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 14, 2026 7w ago | Press Release | $83.30 $74.17 | ▲ +10.96% | ▲ +8.97% | $79.08 (+5.07%) |
Aug 7, 2026 8w ago | Press Release | $82.63 $74.43 | ▲ +9.92% | ▲ +9.53% | $79.08 (+4.30%) |
Jul 31, 2026 9w ago | Press Release | $84.41 $73.12 | ▲ +13.38% | ▲ +16.36% | $79.08 (+6.31%) |
Jun 22, 2026 14w ago | 8-K | $84.95 $86.64 | ▼ −1.99% | ▼ −0.83% | $79.08 (+6.91%) |
Jun 1, 2026 17w ago | Insider Cluster | $124.31 $92.94 | ▼ −25.24% | ▼ −23.67% | $79.08 (−36.38%) |
May 30, 2026 17w ago | Insider Cluster | $121.44 $99.12 | ▼ −18.38% | ▼ −17.08% | $79.08 (−34.88%) |
May 5, 2026 21w ago | 8-K | $101.23 $126.32 | ▼ −24.79% | ▼ −22.00% | $79.08 (+21.88%) |
US Market Status
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