Primoris Q2 2026 loss intensifies ongoing securities class action

Hagens Berman Sobol Shapiro LLP said Primoris Services Corporation's newly released Q2 2026 results and August 5 earnings call widened the scope of an existing securities class action tied to the company's renewable energy business. The law firm said the case covers investors who purchased Primoris common stock between Aug. 5, 2025 and June 22, 2026. Primoris reported a net loss of $24.2 million, revenue fell 10.6% year over year to $1.69 billion, adjusted EBITDA dropped to $11.4 million, and management linked deteriorating performance to cost overruns and volume declines across six renewable energy projects that created a $200 million negative cash flow impact. The complaint alleges Primoris told investors it had disciplined bidding, reliable estimating, project controls and forecasting for fixed-price renewable projects, while in reality its cost estimates, cost-to-complete forecasting and project oversight were materially deficient. Hagens Berman said the market first saw warning signs in February 2026, the pressure escalated after May 5, 2026 first-quarter results and the following earnings call, and the full extent emerged after the market closed on June 22, 2026, when Primoris said ongoing issues across six projects would cut 2026 renewables revenue by 30%, erasing $900 million in expected sales.

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