PRIM INVESTOR ALERT: Primoris (NYSE: PRIM) Reports Dismal Q2 Financial Results Amid Securities Class Action Concerning Renewable Project Failures; Hagens Berman Urges Investors to Contact the Firm

SAN FRANCISCO, Aug. 07, 2026 (GLOBE NEWSWIRE) -- National shareholder rights law firm Hagens Berman Sobol Shapiro LLP urges investors in Primoris Services Corporation (NYSE: PRIM) who suffered substantial losses to submit your losses now.

The company’s newly released Q2 2026 financial results and earnings call have intensified the scope of an ongoing securities class action lawsuit.

The ongoing litigation represents investors who purchased Primoris common stock between August 5, 2025, and June 22, 2026.

PRIM Securities Class Action

• Class Period: Aug. 5, 2025 – June 22, 2026
• Lead Plaintiff Deadline: Sept. 21, 2026
• Visit: www.hbsslaw.com/investor-fraud/prim
• Contact the Firm Now: PRIM@hbsslaw.com
                                         844-916-0895

Primoris’ Latest 8-K and Q2 Earnings Call

Primoris’ recent financial disclosures and August 5 conference call touched on core issues alleged in the securities class action stemming from the company’s renewable energy projects:

• Massive Financial Toll: Primoris reported a net loss of $24.2 million alongside revenue dropping 10.6% year-over-year to $1.69 billion (missing consensus estimates). Adjusted EBITDA plummeted to just $11.4 million.
• The Six Troubled Renewable Projects: Management attributed its declining performance to cost overruns and volume declines across six specific renewable energy projects, generating a $200 million in negative cash flow impact.
• Segment Margin Destruction: Primoris’ core Energy segment swung to a gross loss, with segment gross margins dropping to -0.3% compared to historical double-digit norms.
• Admitted Execution Failures: Leadership stated that project redesigns, sequencing errors, labor productivity bottlenecks, and sub-surface hurdles severely distorted cost-to-complete metrics.

Core Allegations in the PRIM Securities Class Action:

• The Alleged Misstatements: During the Class Period, defendants repeatedly assured investors that Primoris maintained “disciplined bidding,” “well-developed estimating processes,” effective project controls, and reliable forecasting that enabled it to accurately price and execute fixed-price renewable energy projects, “manage risk,” and reliably forecast revenues, margins, and earnings.
• The Alleged Reality: The complaint alleges that in truth the Defendants concealed that Primoris’ estimating, cost-to-complete forecasting, and project oversight processes were woefully deficient. As a result, the company systematically underestimated project costs and risks on multiple significant renewable energy projects.
• The Truth Emerges: Investors first learned of the company's troubles in February 2026, when management attributed declining gross margins to isolated soil and rock challenges while assuring the market that remedial measures were on track. That confidence collapsed on May 5, 2026, when Q1 financial results revealed a severe plunge in Energy segment profits. During the earnings call the next day, CEO Koti Vadlamudi admitted that the struggles stemmed from widespread operational failures—including costly project redesigns, labor shortages, sequencing errors, and weather disruptions—rather than simple ground conditions. The full scope of the crisis was exposed after the market closed on June 22, 2026, when Primoris shocked investors by announcing that ongoing problems across six key projects would cause 2026 renewables revenue to crater by 30%, wiping out $900 million in expected sales.
  
  

“Our investigation is focused on whether Primoris adequately disclosed the scope and severity of execution risks within its renewables business,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation of the pending claims.

If you invested in Primoris and have substantial losses, or have knowledge that will assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to other frequently asked questions about the firm’s Primoris investigation, read more »

Whistleblowers: Persons with non-public information regarding Primoris should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email PRIM@hbsslaw.com.

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.

Contact: Hagens Berman, Reed Kathrein, 715 Hearst Avenue, Suite 300, Berkeley, CA 94710, 844-916-0895, PRIM@hbsslaw.com