Levi & Korsinsky Announces Investigation of Securities Claims Against Primoris Services Corporation (PRIM)
Primoris Services Corporation slashed FY 2026 net-income guidance by roughly 70% on June 22, 2026, triggering a significant intraday stock collapse
NEW YORK, June 29, 2026 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NYSE: PRIM) shares plunged 21.6% intraday on June 22, 2026, after the Company cut its FY 2026 net-income guidance from 223 - 234 million down to 71 - 101 million, reduction of approximately 70% in a single announcement. Shareholders who lost money on PRIM may submit their information here for a free evaluation. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.
The collapse followed a sharp divergence between what management had told investors and what the books ultimately showed. On the Q1 2026 earnings call dated May 6, 2026, CFO Ken Dodgen guided for full-year earnings per diluted share of 4.05--4.25 and adjusted EBITDA of 480--500 million. Six weeks later, the Company slashed its guidance on each metric, projecting earnings per share of 1.30--1.85 and adjusted EBITDA of only 275-325.
The May 5, 2026 earnings release stated: "Importantly, the majority of our renewables portfolio continues to perform in line or ahead of expectations." The June 22 revision attributed the guidance collapse to cost overruns and schedule delays on six renewables projects. The Q1 2026 Form 10-Q, filed May 6, 2026, recorded goodwill of $856.9 million -- unchanged from 2025 -- with no impairment, no MD&A disclosure of the overruns, and no reference to COO Jeremy Kinch's pending departure, which was announced simultaneously with the guidance cut.
Investors who purchased PRIM shares and suffered losses are encouraged to contact Levi & Korsinsky to discuss their legal rights. You may also reach Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
ABOUT THE FIRM -- For over two decades, Levi & Korsinsky has represented shareholders in securities class actions. Ranked in ISS Top 50 for seven consecutive years.
Frequently Asked Questions About the PRIM Investigation
Q: Who is conducting the PRIM investigation? A: Levi & Korsinsky, LLP is investigating potential securities law violations on behalf of investors who purchased PRIM securities. The firm is nationally recognized, ranked in the ISS Top 50 for seven consecutive years, and has recovered hundreds of millions of dollars for aggrieved investors.
Q: Who is eligible to participate in the PRIM investigation? A: Investors who purchased PRIM stock and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.
Q: How much did PRIM stock drop? A: Shares fell approximately 21.6% intraday on June 22, 2026, after the Company disclosed a roughly 70% reduction in FY 2026 net-income guidance and announced the sudden departure of COO Jeremy Kinch. Investors who purchased shares at artificially inflated prices may be entitled to compensation.
Q: What do PRIM investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible to participate in the investigation.
Q: What if I already sold my PRIM shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought PRIM and sold at a loss may still participate in the investigation.
Q: What does it cost me to participate? A: Nothing. Securities investigations and any resulting actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What if my PRIM losses are small -- is it still worth contacting a lawyer? A: Yes. There is no minimum loss amount required to participate in the investigation.
CONTACT:\
Levi & Korsinsky, LLP\
Joseph E. Levi, Esq.\
Ed Korsinsky, Esq.\
33 Whitehall Street, 27th Floor\
New York, NY 10004\
Tel: (212) 363-7500\
Fax: (212) 363-7171
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