Primoris Services (NYSE:PRIM) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Primoris Services (NYSE:PRIM) posted its quarterly earnings data on Tuesday. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.08, FiscalAI reports. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a net margin of 1.92% and a return on equity of 9.87%. The company’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter last year, the business posted $1.68 EPS.

Primoris Services Price Performance

Shares of NYSE:PRIM traded up $0.96 on Thursday, hitting $84.36. The company’s stock had a trading volume of 57,462 shares, compared to its average volume of 1,449,630. The company has a market capitalization of $4.58 billion, a PE ratio of 32.98 and a beta of 1.43. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The company has a 50-day simple moving average of $96.62 and a 200 day simple moving average of $129.11. Primoris Services has a 1 year low of $65.00 and a 1 year high of $205.50.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Wednesday, September 30th. Primoris Services’s dividend payout ratio is currently 12.55%.

Analysts Set New Price Targets

A number of research firms have weighed in on PRIM. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 target price on shares of Primoris Services in a research note on Wednesday. Zacks Research lowered Primoris Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. KeyCorp reiterated a “sector weight” rating on shares of Primoris Services in a research report on Tuesday, June 23rd. UBS Group lowered their price target on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. raised shares of Primoris Services from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $105.00 to $116.00 in a report on Monday, June 29th. Eleven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $135.13.

Insider Activity at Primoris Services

In other news, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the completion of the sale, the insider directly owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. The trade was a 51.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the sale, the director directly owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Osterweis Capital Management Inc. purchased a new position in Primoris Services in the 2nd quarter worth $34,000. NewEdge Advisors LLC lifted its stake in shares of Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock valued at $43,000 after acquiring an additional 194 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Primoris Services by 31.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 634 shares of the company’s stock worth $87,000 after acquiring an additional 150 shares during the last quarter. Globeflex Capital L P purchased a new position in Primoris Services in the 2nd quarter worth approximately $102,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Primoris Services by 3,441.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,381 shares of the company’s stock valued at $108,000 after purchasing an additional 1,342 shares during the period. 91.82% of the stock is currently owned by institutional investors.

Trending Headlines about Primoris Services

Here are the key news stories impacting Primoris Services this week:

• Positive Sentiment: Record backlog and maintained outlook: Primoris reported a record backlog of approximately $13.9 billion, including $8.2 billion of master service agreement backlog. Management maintained its 2026 adjusted earnings outlook of $1.30 to $1.85 per share, providing some support for the longer-term growth case. Primoris Reports Q2 Loss as Revenue Falls
• Positive Sentiment: Quarterly earnings exceeded the loss estimate: Primoris reported a second-quarter loss of $0.27 per share, better than the consensus estimate for a $0.35 loss. Cantor Fitzgerald reaffirmed its “neutral” rating but assigned a $100 price target, implying potential upside from recent trading levels. Primoris Services Quarterly Earnings
• Neutral Sentiment: Dividend maintained: The board declared a quarterly dividend of $0.08 per share, payable October 15 to shareholders of record September 30. The modest payout offers limited direct income support but signals continued shareholder distributions.
• Negative Sentiment: Revenue missed expectations and fell sharply year over year: Second-quarter revenue was approximately $1.69 billion, below the $1.73 billion analyst estimate and down 10.7% from the prior-year period. Energy revenue declined 19.2% to $999.9 million, while utilities revenue increased 2.8% to $712.6 million. The company swung from $1.68 in earnings per share a year earlier to a quarterly loss, with renewable-project margin pressure weighing on results. Primoris Reports Q2 Loss and Revenue Miss
• Negative Sentiment: Securities class-action litigation adds uncertainty: Multiple law firms publicized a previously filed lawsuit against Primoris and certain current and former executives. The allegations include misleading investors about project-management capabilities and understating costs and risks tied to fixed-price renewable-energy projects, including six solar projects. Investors who purchased shares between August 5, 2025, and June 22, 2026, have until September 21, 2026, to seek lead-plaintiff status. The allegations have not been proven, but the litigation creates potential legal, financial, and reputational risks. Primoris Securities Fraud Class Action Lawsuit

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.