Earnings Releases·Nov 3, 2026, 5:04 PM ET

Primoris Services Corporation — Third Quarter 2026 Earnings Summary

Revenue declined 10.4% year-over-year to $1.95 billion, while net income and adjusted EPS fell 45.8% and 36.2% respectively to $51.3 million and $0.95, driven by a 17.6% revenue drop in the Energy segment and higher SG&A and interest expenses.
Full-year 2026 guidance was lowered to net income of $65.2–$73.2 million ($1.20–$1.35 EPS), adjusted EPS of $2.10–$2.25, and adjusted EBITDA of $290.0–$310.0 million.
Management anticipates a return to growth in 2027 supported by a record $14.1 billion backlog, noting that challenges from previously impacted renewable projects are nearing completion.
The company completed its $150.0 million legacy share repurchase program and authorized an additional $250 million buyback, while declaring a $0.08 quarterly dividend.