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Market Incident

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AI compiled from Infoway · 3 analyzed stories

Primoris Services Corporation Reports Third Quarter 2026 Results

Primoris reported third-quarter 2026 revenue of $2.0 billion, down 10.4% from a year earlier, and net income of $51.3 million, down $43.3 million. Adjusted EBITDA, a measure of operating earnings, fell 20.3% to $134.4 million. Backlog reached a record $14.1 billion, and the company lowered its full-year 2026 guidance.

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Updated:

What happened

Primoris Services reported third-quarter 2026 revenue of $2.0 billion and net income of $51.3 million. Revenue was down 10.4% from a year earlier, and net income fell by $43.3 million. Adjusted operating earnings also declined, while backlog reached a record and the company lowered its 2026 guidance.

Global impact / market context

Lower revenue, income, and operating earnings point to weaker results than a year earlier. The record backlog offers a counterpoint, but the lowered full-year guidance signals that the company expects a weaker outlook than before.

What to watch

  1. Check the next reported revenue and compare it with the year-earlier period to see whether the decline continues.
  2. Check whether net income and adjusted operating earnings stabilize or fall further, since both declined in the third quarter.
  3. Check for an updated 2026 outlook and changes in backlog, since guidance was lowered despite record backlog.

Affected assets

  • Primoris Services Corporation

Evidence