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

Primoris Services (NYSE:PRIM) released its quarterly earnings results on Tuesday. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.08, FiscalAI reports. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.Primoris Services’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 EPS.

Primoris Services Stock Down 2.6%

Primoris Services stock traded down $2.40 during mid-day trading on Wednesday, reaching $88.45. 444,440 shares of the company’s stock were exchanged, compared to its average volume of 1,443,768. The company has a market cap of $4.80 billion, a P/E ratio of 19.48 and a beta of 1.43. The company has a fifty day moving average of $97.56 and a 200-day moving average of $129.56. Primoris Services has a twelve month low of $65.00 and a twelve month high of $205.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24.

Primoris Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.08 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Primoris Services’s dividend payout ratio is 7.05%.

Key Headlines Impacting Primoris Services

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

• Positive Sentiment: Primoris reported a second-quarter adjusted loss of $0.27 per share, narrower than analysts’ expected $0.35 loss. Management maintained its 2026 net income outlook of $71 million to $101 million, or $1.30 to $1.85 per diluted share. Primoris Services Reports Q2 Loss
• Positive Sentiment: Total backlog reached a record $13.9 billion, including $8.2 billion in master service agreement backlog, supporting longer-term revenue visibility despite the quarterly slowdown.
• Positive Sentiment: Cantor Fitzgerald reaffirmed its “neutral” rating but set a $100 price target, indicating potential upside from recent trading levels. Cantor Fitzgerald Rating
• Neutral Sentiment: The company declared its regular quarterly dividend of $0.08 per share, payable October 15 to shareholders of record September 30. The dividend provides modest income, with an annualized yield of approximately 0.4%.
• Negative Sentiment: Second-quarter revenue fell 10.7% year over year to $1.688 billion, missing the $1.73 billion consensus estimate. Energy revenue declined 19.2% to $999.9 million, while management cited margin pressure from renewable-energy projects.
• Negative Sentiment: Multiple law firms publicized a securities-fraud class action covering investors who purchased shares from August 5, 2025, through June 22, 2026. The allegations involve potentially misleading statements about cost estimates, project controls, and profitability risks in fixed-price renewable projects; the lead-plaintiff deadline is September 21, 2026. Primoris Securities Class Action

Analyst Ratings Changes

A number of research analysts have weighed in on PRIM shares. JPMorgan Chase & Co. upgraded Primoris Services from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $105.00 to $116.00 in a report on Monday, June 29th. Zacks Research downgraded shares of Primoris Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Oppenheimer started coverage on shares of Primoris Services in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $135.00 target price on the stock. Wells Fargo & Company lowered their target price on Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 23rd. Finally, UBS Group dropped their price target on Primoris Services from $212.00 to $186.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $137.47.

Insider Activity at Primoris Services

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was 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. This trade represents a 51.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Lee King sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the transaction, the director owned 14,941 shares in the company, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Primoris Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp raised its stake in Primoris Services by 56.8% during the fourth quarter. State Street Corp now owns 2,011,488 shares of the company’s stock worth $249,866,000 after purchasing an additional 728,646 shares during the period. First Trust Advisors LP grew its stake in shares of Primoris Services by 12.1% during the fourth quarter. First Trust Advisors LP now owns 1,958,008 shares of the company’s stock valued at $243,067,000 after acquiring an additional 211,096 shares in the last quarter. Wellington Management Group LLP increased its holdings in Primoris Services by 163.0% during the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock worth $216,774,000 after purchasing an additional 1,082,218 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Primoris Services by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 710,894 shares of the company’s stock valued at $88,250,000 after acquiring an additional 10,708 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Primoris Services by 38.3% during the 4th quarter. JPMorgan Chase & Co. now owns 672,192 shares of the company’s stock valued at $83,446,000 after acquiring an additional 185,992 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

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.