{"success":true,"data":{"pressRelease":{"id":"125292","rtpr_id":"nNFC8rPlXc","ticker":"PRIM","exchange":"NYSE","all_tickers":["PRIM"],"title":"PRIM INVESTOR ALERT: Primoris (PRIM) Reports Dismal Q2 Financial Results Amid Securities Class Action Concerning Renewable Project Failures","author":"Newsfile Corp","published_at":"2026-08-21T21:48:37.536Z","article_body":"San Francisco, California--(Newsfile Corp. - August 21, 2026) - National\nshareholder rights law firm Hagens Berman Sobol Shapiro LLP urges investors in\nPrimoris Services Corporation (NYSE: PRIM) who suffered substantial losses to\nsubmit your losses now (https://api.newsfilecorp.com/redirect/EZqmYhvkwQ).\n\nThe company's newly released Q2 2026 financial results and earnings call have\nintensified the scope of an ongoing securities class action lawsuit.\n\nThe ongoing litigation represents investors who purchased Primoris common\nstock between August 5, 2025, and June 22, 2026.\n\nPRIM Securities Class Action\n* Class Period: Aug. 5, 2025 - June 22, 2026\n* Lead Plaintiff Deadline: Sept. 21, 2026\n* Visit:\nwww.hbsslaw.com/cases/primoris-services-corporation-prim-securities-class-action\n* Contact the Firm Now: PRIM@hbsslaw.com\n844-916-0895\nPrimoris' Latest 8-K and Q2 Earnings Call\n\nPrimoris' recent financial disclosures and August 5 conference call touched on\ncore issues alleged in the securities class action stemming from the company's\nrenewable energy projects:\n* Massive Financial Toll: Primoris reported a net loss of $24.2 million\nalongside revenue dropping 10.6% year-over-year to $1.69 billion (missing\nconsensus estimates). Adjusted EBITDA plummeted to just $11.4 million.\n* The Six Troubled Renewable Projects: Management attributed its declining\nperformance to cost overruns and volume declines across six specific renewable\nenergy projects, generating a $200 million in negative cash flow impact.\n* Segment Margin Destruction: Primoris' core Energy segment swung to a gross\nloss, with segment gross margins dropping to -0.3% compared to historical\ndouble-digit norms.\n* Admitted Execution Failures: Leadership stated that project redesigns,\nsequencing errors, labor productivity bottlenecks, and sub-surface hurdles\nseverely distorted cost-to-complete metrics.\nCore Allegations in the PRIM Securities Class Action:\n* The Alleged Misstatements: During the Class Period, defendants repeatedly\nassured investors that Primoris maintained \"disciplined bidding,\"\n\"well-developed estimating processes,\" effective project controls, and\nreliable forecasting that enabled it to accurately price and execute\nfixed-price renewable energy projects, \"manage risk,\" and reliably forecast\nrevenues, margins, and earnings.\n* The Alleged Reality: The complaint alleges that in truth the Defendants\nconcealed that Primoris' estimating, cost-to-complete forecasting, and project\noversight processes were woefully deficient. As a result, the company\nsystematically underestimated project costs and risks on multiple significant\nrenewable energy projects.\n* The Truth Emerges: Investors first learned of the company's troubles in\nFebruary 2026, when management attributed declining gross margins to isolated\nsoil and rock challenges while assuring the market that remedial measures were\non track. That confidence collapsed on May 5, 2026, when Q1 financial results\nrevealed a severe plunge in Energy segment profits. During the earnings call\nthe next day, CEO Koti Vadlamudi admitted that the struggles stemmed from\nwidespread operational failures—including costly project redesigns, labor\nshortages, sequencing errors, and weather disruptions—rather than simple\nground conditions. The full scope of the crisis was exposed after the market\nclosed on June 22, 2026, when Primoris shocked investors by announcing that\nongoing problems across six key projects would cause 2026 renewables revenue\nto crater by 30%, wiping out $900 million in expected sales.\n\"Our investigation is focused on whether Primoris adequately disclosed the\nscope and severity of execution risks within its renewables business,\" said\nReed Kathrein (https://api.newsfilecorp.com/redirect/7nkaJhPzVz), the Hagens\nBerman partner leading the firm's investigation of the pending claims.\n\nIf you invested in Primoris and have substantial losses, or have knowledge\nthat will assist the firm's investigation, submit your losses now\n(https://api.newsfilecorp.com/redirect/ejrbZsQgjE) »\n\nIf you'd like more information and answers to other frequently asked questions\nabout the firm's Primoris investigation, read more\n(https://api.newsfilecorp.com/redirect/87BaGhmzDE) »\n\nWhistleblowers: Persons with non-public information regarding Primoris should\nconsider their options to help in the investigation or take advantage of the\nSEC Whistleblower program. Under the new program, whistleblowers who provide\noriginal information may receive rewards totaling up to 30 percent of any\nsuccessful recovery made by the SEC. For more information, call Reed Kathrein\nat 844-916-0895 or email PRIM@hbsslaw.com.\n\n# # #\n\nAbout Hagens Berman (https://api.newsfilecorp.com/redirect/y4YbziyENz)\nHagens Berman is a global plaintiffs' rights complex litigation firm focusing\non corporate accountability. The firm is home to a robust practice and\nrepresents investors as well as whistleblowers, workers, consumers and others\nin cases achieving real results for those harmed by corporate negligence and\nother wrongdoings. Hagens Berman's team has secured more than $2.9 billion in\nthis area of law. More about the firm and its successes can be found at\nhbsslaw.com (https://api.newsfilecorp.com/redirect/1KjarUQv1A). Follow the\nfirm for updates and news at @ClassActionLaw.\n\nAttorney Advertising. Prior results do not guarantee a similar outcome in any\nfuture case.\n\nContact: Hagens Berman, Reed Kathrein, 715 Hearst Avenue, Suite 300, Berkeley,\nCA 94710, 844-916-0895, PRIM@hbsslaw.com\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/310895","article_body_html":"","raw_payload":{"data":{"id":"nNFC8rPlXc","title":"PRIM INVESTOR ALERT: Primoris (PRIM) Reports Dismal Q2 Financial Results Amid Securities Class Action Concerning Renewable Project Failures","author":"Newsfile Corp","ticker":"PRIM","created":"2026-08-21T21:48:37.536Z","tickers":["PRIM"],"exchange":"NYSE","article_body":"San Francisco, California--(Newsfile Corp. - August 21, 2026) - National\nshareholder rights law firm Hagens Berman Sobol Shapiro LLP urges investors in\nPrimoris Services Corporation (NYSE: PRIM) who suffered substantial losses to\nsubmit your losses now (https://api.newsfilecorp.com/redirect/EZqmYhvkwQ).\n\nThe company's newly released Q2 2026 financial results and earnings call have\nintensified the scope of an ongoing securities class action lawsuit.\n\nThe ongoing litigation represents investors who purchased Primoris common\nstock between August 5, 2025, and June 22, 2026.\n\nPRIM Securities Class Action\n* Class Period: Aug. 5, 2025 - June 22, 2026\n* Lead Plaintiff Deadline: Sept. 21, 2026\n* Visit:\nwww.hbsslaw.com/cases/primoris-services-corporation-prim-securities-class-action\n* Contact the Firm Now: PRIM@hbsslaw.com\n844-916-0895\nPrimoris' Latest 8-K and Q2 Earnings Call\n\nPrimoris' recent financial disclosures and August 5 conference call touched on\ncore issues alleged in the securities class action stemming from the company's\nrenewable energy projects:\n* Massive Financial Toll: Primoris reported a net loss of $24.2 million\nalongside revenue dropping 10.6% year-over-year to $1.69 billion (missing\nconsensus estimates). Adjusted EBITDA plummeted to just $11.4 million.\n* The Six Troubled Renewable Projects: Management attributed its declining\nperformance to cost overruns and volume declines across six specific renewable\nenergy projects, generating a $200 million in negative cash flow impact.\n* Segment Margin Destruction: Primoris' core Energy segment swung to a gross\nloss, with segment gross margins dropping to -0.3% compared to historical\ndouble-digit norms.\n* Admitted Execution Failures: Leadership stated that project redesigns,\nsequencing errors, labor productivity bottlenecks, and sub-surface hurdles\nseverely distorted cost-to-complete metrics.\nCore Allegations in the PRIM Securities Class Action:\n* The Alleged Misstatements: During the Class Period, defendants repeatedly\nassured investors that Primoris maintained \"disciplined bidding,\"\n\"well-developed estimating processes,\" effective project controls, and\nreliable forecasting that enabled it to accurately price and execute\nfixed-price renewable energy projects, \"manage risk,\" and reliably forecast\nrevenues, margins, and earnings.\n* The Alleged Reality: The complaint alleges that in truth the Defendants\nconcealed that Primoris' estimating, cost-to-complete forecasting, and project\noversight processes were woefully deficient. As a result, the company\nsystematically underestimated project costs and risks on multiple significant\nrenewable energy projects.\n* The Truth Emerges: Investors first learned of the company's troubles in\nFebruary 2026, when management attributed declining gross margins to isolated\nsoil and rock challenges while assuring the market that remedial measures were\non track. That confidence collapsed on May 5, 2026, when Q1 financial results\nrevealed a severe plunge in Energy segment profits. During the earnings call\nthe next day, CEO Koti Vadlamudi admitted that the struggles stemmed from\nwidespread operational failures—including costly project redesigns, labor\nshortages, sequencing errors, and weather disruptions—rather than simple\nground conditions. The full scope of the crisis was exposed after the market\nclosed on June 22, 2026, when Primoris shocked investors by announcing that\nongoing problems across six key projects would cause 2026 renewables revenue\nto crater by 30%, wiping out $900 million in expected sales.\n\"Our investigation is focused on whether Primoris adequately disclosed the\nscope and severity of execution risks within its renewables business,\" said\nReed Kathrein (https://api.newsfilecorp.com/redirect/7nkaJhPzVz), the Hagens\nBerman partner leading the firm's investigation of the pending claims.\n\nIf you invested in Primoris and have substantial losses, or have knowledge\nthat will assist the firm's investigation, submit your losses now\n(https://api.newsfilecorp.com/redirect/ejrbZsQgjE) »\n\nIf you'd like more information and answers to other frequently asked questions\nabout the firm's Primoris investigation, read more\n(https://api.newsfilecorp.com/redirect/87BaGhmzDE) »\n\nWhistleblowers: Persons with non-public information regarding Primoris should\nconsider their options to help in the investigation or take advantage of the\nSEC Whistleblower program. Under the new program, whistleblowers who provide\noriginal information may receive rewards totaling up to 30 percent of any\nsuccessful recovery made by the SEC. For more information, call Reed Kathrein\nat 844-916-0895 or email PRIM@hbsslaw.com.\n\n# # #\n\nAbout Hagens Berman (https://api.newsfilecorp.com/redirect/y4YbziyENz)\nHagens Berman is a global plaintiffs' rights complex litigation firm focusing\non corporate accountability. The firm is home to a robust practice and\nrepresents investors as well as whistleblowers, workers, consumers and others\nin cases achieving real results for those harmed by corporate negligence and\nother wrongdoings. Hagens Berman's team has secured more than $2.9 billion in\nthis area of law. More about the firm and its successes can be found at\nhbsslaw.com (https://api.newsfilecorp.com/redirect/1KjarUQv1A). Follow the\nfirm for updates and news at @ClassActionLaw.\n\nAttorney Advertising. Prior results do not guarantee a similar outcome in any\nfuture case.\n\nContact: Hagens Berman, Reed Kathrein, 715 Hearst Avenue, Suite 300, Berkeley,\nCA 94710, 844-916-0895, PRIM@hbsslaw.com\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/310895"},"type":"article","timestamp":"2026-08-21T21:48:37.605328354Z","server_sent_at_ms":1787348917605},"received_at":"2026-08-21T21:48:37.656Z","source_url":"https://www.newsfilecorp.com/release/310895"},"analysis":{"id":"114245","press_release_id":"125292","analysis_json":{"industry":{"label":"Construction & Engineering","sector":"Industrials"},"redFlags":["Energy segment gross margins turned negative (-0.3%)","Renewables revenue expected to crater 30%","$200 million negative cash flow impact from six renewable projects","Adjusted EBITDA plummeted to $11.4 million"],"eventType":"legal_litigation","narrative":"Hagens Berman urges Primoris investors who suffered losses to join a class action lawsuit concerning alleged misstatements regarding fixed-price renewable energy projects. The firm cites recent Q2 results showing a net loss of $24.2 million and a 10.6% revenue decline to $1.69 billion.\n\nThe complaint alleges that Primoris concealed deficiencies in estimating and oversight, with six specific projects causing a $200 million negative cash flow impact and driving the Energy segment gross margin to -0.3%.\n\nManagement reportedly admitted to execution failures including redesigns and labor bottlenecks, which are expected to reduce 2026 renewables revenue by 30% and wipe out $900 million in expected sales.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Plaintiff-firm solicitation -- suppress."},"keyFigures":{"revenue":"$1.69 billion","revenueYoy":"-10.6%","customDimensions":{"ebitda":"$11.4 million","net_loss":"$24.2 million","wiped_out_sales":"$900 million","energy_segment_margin":"-0.3%","negative_cash_flow_impact":"$200 million","renewables_revenue_decline":"30%"}},"quotedText":"Our investigation is focused on whether Primoris adequately disclosed the scope and severity of execution risks within its renewables business","namedEntities":{"people":[{"name":"Reed Kathrein","role":"Partner, Hagens Berman"},{"name":"Koti Vadlamudi","role":"CEO"}],"products":[],"companies":[{"name":"Primoris Services Corporation","ticker":"PRIM"},{"name":"Hagens Berman Sobol Shapiro LLP","relationship":"plaintiff law firm"}],"dollarAmounts":[{"amount":"$24.2 million","context":"Q2 net loss"},{"amount":"$1.69 billion","context":"Q2 revenue"},{"amount":"$11.4 million","context":"Adjusted EBITDA"},{"amount":"$200 million","context":"Negative cash flow impact from six troubled renewable projects"},{"amount":"$900 million","context":"Expected sales wiped out by renewables problems"}]},"materialImpact":{"score":1,"reasoning":"Plaintiff law-firm shareholder solicitation issued by Hagens Berman Sobol Shapiro LLP. No new disclosure from the issuer; no certified class or settlement announced. Standard lead-plaintiff deadline reminder."},"tickerRelevance":{"others":[],"primary":"PRIM"},"globalImportance":15,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"Hagens Berman urges Primoris investors who suffered losses to join a class action lawsuit concerning alleged misstatements regarding fixed-price renewable energy projects. The firm cites recent Q2 results showing a net loss of $24.2 million and a 10.6% revenue decline to $1.69 billion.\n\nThe complaint alleges that Primoris concealed deficiencies in estimating and oversight, with six specific projects causing a $200 million negative cash flow impact and driving the Energy segment gross margin to -0.3%.\n\nManagement reportedly admitted to execution failures including redesigns and labor bottlenecks, which are expected to reduce 2026 renewables revenue by 30% and wipe out $900 million in expected sales.","key_figures":{"revenue":"$1.69 billion","revenueYoy":"-10.6%","customDimensions":{"ebitda":"$11.4 million","net_loss":"$24.2 million","wiped_out_sales":"$900 million","energy_segment_margin":"-0.3%","negative_cash_flow_impact":"$200 million","renewables_revenue_decline":"30%"}},"named_entities":{"people":[{"name":"Reed Kathrein","role":"Partner, Hagens Berman"},{"name":"Koti Vadlamudi","role":"CEO"}],"products":[],"companies":[{"name":"Primoris Services Corporation","ticker":"PRIM"},{"name":"Hagens Berman Sobol Shapiro LLP","relationship":"plaintiff law firm"}],"dollarAmounts":[{"amount":"$24.2 million","context":"Q2 net loss"},{"amount":"$1.69 billion","context":"Q2 revenue"},{"amount":"$11.4 million","context":"Adjusted EBITDA"},{"amount":"$200 million","context":"Negative cash flow impact from six troubled renewable projects"},{"amount":"$900 million","context":"Expected sales wiped out by renewables problems"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-21T21:49:46.033Z","global_importance":15,"audience_relevance":15,"importance_components":{"tickerTier":"small-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"durationMs":68360,"modelName":"glm-4.7"}}