PRIM 8-K SEC Filing Analysis

Latest settled — T+20d ⚠ clustered

PRIM ▲ +24.79% at T+20d

SHORT call ✗ call lost -24.79% · α vs SPY -22.00% · entry $101.23 → $126.32

Next anchor: T+60d in 7w

Currently $103.90 · -2.64% from $101.23 entry (call sign-flipped)

Entry anchored
May 5, 04:34 PM ET
via Databento tick

T+1d

0.00%

call 0.00% · α -0.33%

$101.23

settled 5w ago

T+5d

+11.92%

call -11.92% · α -10.79%

$113.30

settled 29d ago

T+20d

+24.79%

call -24.79% · α -22.00%

$126.32

settled 7d ago

T+60d

—

call — · α —

—

in 7w

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Executive Summary

Primoris reported Q1 2026 revenue of $1.56B (down 5.4% YoY) and GAAP diluted EPS of $0.32 (down 60% YoY, massively missing the $0.81 consensus). The company slashed its full-year 2026 guidance by ~25%, now expecting EPS of $4.05-4.25 vs prior $5.35-5.55, citing cost overruns on renewables projects and slower project starts. While the acquisition of PayneCrest ($399.5M) adds data center exposure, the organic deterioration and guidance cut dominate the narrative.

Key Financial Metrics

Gross Margin

8.6%

Actionable Insight

Expect sharp sell-off on the earnings miss and guidance cut. Listen to the conference call for details on renewables project recovery timing and PayneCrest integration. The guidance reduction is severe, suggesting underlying issues may persist beyond Q1. Monitor competitor and industry reaction to assess if this is company-specific or sector-wide.

Key Facts

Q1 2026 revenue $1.56B, down 5.4% YoY from $1.65B
GAAP diluted EPS $0.32, down from $0.81 YoY; Adjusted EPS $0.59, down from $0.98
Net income $17.4M, down 60.6% from $44.2M YoY
Adjusted EBITDA $60.5M, down 39.1% from $99.4M
Energy segment revenue down 13.8%, operating income down 62.2%
FY2026 guidance cut: EPS now $4.05-4.25 vs prior $5.35-5.55; Adj. EBITDA $480-500M vs prior $560-580M
Completed PayneCrest acquisition for ~$399.5M on May 1, 2026
Operating cash flow negative $122.6M vs positive $66.2M a year ago

Financial Impact

EPS miss of ~$0.49 vs consensus $0.81; guidance cut implies ~$1.30 EPS reduction vs prior midpoint

revenueepsnetIncomeadjustedEbitdacashFlow

Risk Factors

Continued cost overruns on renewables projects may erode margins further
Energy segment revenue decline could persist if project awards slow
Integration risk with PayneCrest acquisition ($399.5M) may pressure near-term cash flow
Lowered guidance implies management sees headwinds that could take quarters to resolve

Market Snapshot

Exchange

NYSE

Sector

Water, Sewer, Pipeline, Comm & Power Line Construction

Analyst Consensus

71% bullish (21 analysts)

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

Document	Accession Number
8-K Filing (Primary)	0001361538-26-000014
Document: prim-20260430x8k.htm	0001361538-26-000014
Document: 0001361538-26-000014-index-headers.html	0001361538-26-000014
Document: 0001361538-26-000014-index.html	0001361538-26-000014
Document: 0001361538-26-000014.txt	0001361538-26-000014
8-K Data (Synthetic)	0001361538-26-000014

3 reports for PRIM

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for PRIM — sortable, filterable
	Type				Now
Jun 1, 2026 8d ago	Insider Cluster BULLISH ★ 5/10	$124.31 $126.32	▲ +1.62%	▲ +2.34%	$103.90 (−16.42%)
May 30, 2026 11d ago	Insider Cluster NEUTRAL ★ 2/10	$121.44 $124.31	▲ +2.36%	▲ +2.22%	$103.90 (−14.44%)
May 5, 2026 5w ago	8-K BEARISH ★ 8/10	$101.23 $101.23	· 0.00%	▼ −0.33%	$103.90 (−2.64%)

US Market Status

Market Closed — Opens Thu (10h 7m)

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