Primoris Services Corp — Form 8-K
Filed November 3, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 48/100
What the filing says
Q3 2026 revenue fell to $2.0B (down $0.2B or 10.4% YoY), driven by lower renewables activity in the Energy segment; net income declined to $51.3M ($0.95/share) from $94.6M ($1.73/share) YoY. Total backlog reached record $14.1B ($8.5B MSA). Company updated full-year 2026 guidance: net income $65.2M–$73.2M ($1.20–$1.35 EPS), Adjusted EBITDA $290M–$310M. Board authorized new $250M share repurchase program and declared $0.08/share dividend.
Why this rating
Material deterioration in quarterly earnings (−46% net income YoY) from project execution challenges; offset by record backlog and positive forward outlook, but near-term profitability pressure.
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