Primoris Services Corporation (PRIM) Q3 EPS Falls 45%; Updates 2026 Estimates

What happened

Primoris Services reported Q3 revenue of $2.0 billion, down 10.4% from a year earlier, and diluted earnings per share of $0.95, down from $1.73. It expects 2026 adjusted earnings per share of $2.10–$2.25 and adjusted EBITDA of $290.0 million–$310.0 million.

Confirmed

Global impact / market context

Lower revenue and earnings show that project performance is weighing on current results. If the challenged renewable project continues to pressure profits per sale, earnings recovery may be harder; growth in Utilities could partly offset weakness and help Primoris meet its 2026 targets.

Analyst inference

The article links the revenue decline mainly to lower renewables activity, partly offset by Utilities growth, and says lower Energy revenue and profit per sale reduced operating income. It gives no prior 2026 forecast, so the updated ranges cannot be judged against an earlier target.

Analyst inference

What to watch

1. Watch for updates on completing the remaining challenged renewable project, which the article identifies as important to the recovery outlook but does not date. Analyst inference
2. Check subsequent results for improved profit per sale and operating income; the article says investors will look for signs of margin recovery after project execution issues. Analyst inference
3. Compare reported 2026 adjusted earnings per share and adjusted EBITDA with the stated ranges of $2.10–$2.25 and $290.0 million–$310.0 million. Confirmed

Evidence

• Original source link unavailable