Every 8-K that Primoris Services Corporation (PRIM) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow PRIM and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PRIM filings page.
Primoris Services Corporation (PRIM) is expanding its Board of Directors and has appointed James A. Greer and Oscar K. Brown as new directors, effective October 1, 2026. The Board approved increasing the authorized number of directors to ten, and both appointees will serve until the 2027 annual meeting of stockholders, when they will be up for re-election.
Greer brings over 40 years of experience in the energy delivery markets, including service as Executive Vice President and Chief Operating Officer of Oncor Electric Delivery Company LLC. Brown has more than 25 years of energy-industry experience and serves as President and Chief Executive Officer of Western Midstream Partners, LP. Both will receive compensation under Primoris’ existing non-employee director compensation program, and the company states there are no related-party transactions over $120,000 involving either appointee.
Primoris Services Corporation reported weak second‑quarter 2026 results, reflecting significant pressure in its renewables-heavy Energy segment. Revenue was $1.7 billion, down $0.2 billion, or 10.7%, from the prior-year quarter. The company posted an operating loss of $26.8 million versus operating income of $126.6 million a year earlier and a net loss of $24.2 million, or -$0.45 diluted EPS, compared with net income of $84.3 million, or $1.54 per diluted share. Adjusted EBITDA was $11.4 million, sharply below $154.6 million in 2025, as six renewable energy projects experienced cost overruns from redesigns, sequencing changes, productivity challenges, sub-surface issues, and weather.
Despite near-term earnings pressure, Primoris highlighted strength in demand and bookings. Total backlog reached $13.9 billion at June 30, 2026, up $1.9 billion from year-end, with Utilities at approximately $7.7 billion and Energy at $6.2 billion. Liquidity totaled $958.9 million, including $218.2 million of cash and $740.7 million of revolver capacity. For full-year 2026, management maintained guidance for net income of $71.0–$101.0 million (diluted EPS $1.30–$1.85), Adjusted EPS of $2.05–$2.60, and Adjusted EBITDA of $275–$325 million. The board declared a $0.08 per-share cash dividend and the company repurchased 449,287 shares for $50.0 million during the quarter.
Primoris Services Corporation reported weak second-quarter 2026 results as renewable energy projects sharply reduced profitability, but backlog and liquidity remained strong. Revenue for the quarter was $1,688.2 million, down 10.7% from $1,890.7 million a year earlier, leading to an operating loss of $26.8 million. Net loss was $24.2 million, or $(0.45) per diluted share, compared with net income of $84.3 million, or $1.54 per diluted share, in 2025. Adjusted net loss was $14.6 million and adjusted diluted EPS was $(0.27), while Adjusted EBITDA fell to $11.4 million from $154.6 million, primarily due to cost overruns and lower volumes on six renewable energy projects and softer margins in Utilities.
Despite this, total backlog reached a record $13.9 billion as of June 30, 2026, including approximately $7.7 billion in Utilities and $6.2 billion in Energy, up $1.9 billion from year-end 2025 on new fixed awards and added MSA backlog, including contributions from PayneCrest. Liquidity totaled $958.9 million, consisting of $218.2 million of cash and cash equivalents and $740.7 million of available revolving credit capacity, though operating activities used $131.3 million of cash in the first half of 2026 and acquisitions used $401.4 million, reducing cash and restricted cash to $223.9 million.
The company maintained its 2026 outlook, expecting GAAP net income of $71.0–$101.0 million (diluted EPS of $1.30–$1.85), adjusted EPS of $2.05–$2.60, and Adjusted EBITDA of $275.0–$325.0 million, with targeted gross margins of 10–12% in Utilities and 6–8% in Energy and an effective tax rate of 30–32%. The Board declared a quarterly cash dividend of $0.08 per share for stockholders of record on September 30, 2026, payable around October 15, 2026, and the company repurchased 449,287 shares for $50.0 million during the quarter, leaving $100.0 million under its share purchase program.
Primoris Services Corporation reported weak second-quarter 2026 results, with revenue of $1,688.2 million, down $0.2 billion or 10.7% from 2025. The company posted an operating loss of $26.8 million and a net loss of $24.2 million, or ($0.45) diluted EPS, versus prior-year profitability. Adjusted net loss was $14.6 million, Adjusted EPS was ($0.27), and Adjusted EBITDA was $11.4 million, sharply lower than $154.6 million a year earlier, driven mainly by cost overruns and volume declines on six renewable Energy projects and margin compression in Utilities.
Despite this, total backlog reached a record $13.9 billion at June 30, 2026, including approximately $7.7 billion in Utilities and $6.2 billion in Energy, supported by new fixed-award wins and higher MSA backlog. Liquidity totaled $958.9 million, with $218.2 million of cash and $740.7 million of revolver capacity. The board declared a $0.08 per-share cash dividend for stockholders of record on September 30, 2026, payable on or about October 15, 2026, and the company repurchased 449,287 shares for $50.0 million during the quarter. Primoris is maintaining 2026 guidance, expecting net income of $71.0–$101.0 million, Adjusted EPS of $2.05–$2.60, and Adjusted EBITDA of $275–$325 million, with targeted gross margins of 10–12% in Utilities and 6–8% in Energy.
Primoris Services Corporation sharply lowered its full-year 2026 outlook and announced the immediate departure of its Chief Operating Officer after additional cost overruns on six Renewables projects. The company now expects 2026 net income of $71.0–$101.0 million, down from prior guidance of $223.0–$234.0 million, with diluted EPS cut to $1.30–$1.85 from $4.05–$4.25. Adjusted EPS is now forecast at $2.05–$2.60 versus $4.80–$5.00, and Adjusted EBITDA at $275.0–$325.0 million versus $480.0–$500.0 million. Renewables revenue for 2026 is expected to be about $2.1 billion, compared with approximately $3.0 billion in 2025. Offsetting some of this, Primoris highlighted about $2.0 billion of new Energy segment project awards in Q2 2026 and disclosed it repurchased roughly $50 million of stock at an average price of $111.29 per share, with about $100 million remaining under its share purchase program.
Primoris Services Corporation reported softer first quarter 2026 results while reaffirming a strong full-year outlook and closing a sizable acquisition. Revenue was $1.56 billion, down from $1.65 billion a year earlier, as lower Energy segment activity more than offset Utilities growth. Net income dropped to $17.4 million from $44.2 million, and diluted EPS declined to $0.32 from $0.81. Adjusted net income was $32.2 million versus $53.5 million, with Adjusted EPS of $0.59 versus $0.98, and Adjusted EBITDA of $60.5 million versus $99.4 million, reflecting cost pressures and delays on certain renewables projects.
The Utilities segment grew revenue by 12.3% with improved margins, while Energy segment revenue fell 13.8% and operating income decreased 62.2%. Total backlog at March 31, 2026 was $11.6 billion, including $6.9 billion in Utilities and $4.7 billion in Energy. The company completed the all-cash acquisition of PayneCrest Electric, Inc. for approximately $399.5 million, expanding its electrical and data center capabilities.
For full year 2026, Primoris expects GAAP net income of $223.0–$234.0 million, diluted EPS of $4.05–$4.25, Adjusted EPS of $4.80–$5.00, and Adjusted EBITDA of $480.0–$500.0 million. The board declared a quarterly cash dividend of $0.08 per share for stockholders of record as of June 30, 2026. At the April 30, 2026 annual meeting, about 93.6% of shares entitled to vote were represented, stockholders approved executive compensation on an advisory basis, and ratified Baker Tilly US, LLP as independent auditor. The board also appointed Michael E. Ching as chair of the Strategy and Risk Committee.
Primoris Services Corporation disclosed that director John P. Schauerman will not stand for re-election and will voluntarily retire from the Board after the 2026 Annual Meeting of Stockholders, expected on April 30, 2026. The company states his decision is not due to any disagreement.
Schauerman previously served in executive roles, including as Chief Financial Officer from February 2008 to February 2009 and has been on the Board since 2016. Primoris does not plan to seek a replacement and expects to reduce the Board size to eight members effective as of the Annual Meeting.
Primoris Services Corporation reported strong 2025 results and raised its outlook for 2026. Full-year 2025 revenue grew 19.0% to $7.57 billion and net income rose to $274.9 million, or $5.02 per diluted share, up 52.0% from 2024. Adjusted EBITDA increased 22.0% to $531.1 million, with double‑digit growth in both Utilities and Energy.
Utilities revenue reached $2.69 billion and Energy revenue $5.02 billion, as Utilities improved margins and Energy expanded renewables and industrial work despite lower gross margins. Total backlog at December 31, 2025 was $11.9 billion, including $6.4 billion in Utilities and about $5.5 billion in Energy.
Primoris ended 2025 with $535.5 million in cash and cut long‑term debt to $409.0 million. For 2026, it guides net income of $294.0–$305.0 million, EPS of $5.35–$5.55, Adjusted EPS of $5.80–$6.00, and Adjusted EBITDA of $560–$580 million. The board declared a cash dividend of $0.08 per share, payable around April 15, 2026.
Primoris Services Corporation announced two items. First, the Board declared a cash dividend of $0.08 per share for stockholders of record as of December 31, 2025, payable on or about January 15, 2026.
Second, the Company furnished a press release announcing its financial performance for the quarter ended September 30, 2025. The release was furnished as an exhibit and is not deemed filed under the Exchange Act.
Primoris Services Corporation has appointed Koti Vadlamudi as its new President and Chief Executive Officer and a member of the Board, effective November 10, 2025. He succeeds David King, who has served as Interim President and CEO and will continue as Chairman of the Board.
Vadlamudi, age 55, brings over 30 years of global engineering and construction experience, most recently as Executive Vice President at Jacobs Solutions Inc., with prior senior roles across advanced facilities, buildings and infrastructure, and oil and gas.
Under his employment agreement, Vadlamudi will receive a $1,000,000 annual base salary, a target annual cash bonus equal to 120% of salary starting in 2026, and a target annual equity grant valued at $3,000,000, subject to approvals. He will also receive relocation benefits, limited personal use of the company aircraft, a sign-on equity award of restricted stock units valued at approximately $900,000 vesting over three years, and a one-time $1,050,000 cash bonus subject to repayment if he departs under certain circumstances within one year. The agreement includes severance protections that increase if termination occurs during a change in control period.