{"success":true,"data":{"pressRelease":{"id":"42291","rtpr_id":"nPndQhP9a","ticker":"PRIM","exchange":"NYSE","all_tickers":["PRIM"],"title":"Primoris Services (PRIM) Shares Crater 50% Amid Expanded Renewables Issues - HBSS","author":"PR Newswire","published_at":"2026-05-21T13:00:03.980Z","article_body":"Primoris Services (PRIM) Shares Crater 50% Amid Expanded Renewables Issues - HBSS\n\nPR Newswire\n\nSAN FRANCISCO, May 21, 2026\n\nSAN FRANCISCO, May 21, 2026 /PRNewswire/ -- Investors in Primoris Services\nCorporation (NYSE: PRIM) saw the price of their shares crater $101.69 (-50%)\non May 6, 2026 after the Company reported huge year-over-year and sequential\ndeclines in revenues and gross profits for its Energy segment and identified\nongoing, expanded issues with its renewables business.\n\n(https://mma.prnewswire.com/media/2590203/Hagens_Berman_Sobol_Shapiro_LLP_Logo.html)\n\nThe severe market reaction and expanded renewables issues have prompted\nshareholder rights firm Hagens Berman to open an investigation into whether\nPrimoris' disclosures about the health of its business before the Company\nreported after the market closed on May 5, 2026.\n\nThe firm encourages Primoris investors who suffered substantial losses to\nsubmit your losses now\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693867-1&h=737259447&u=https%3A%2F%2Fhbsslaw.jotform.com%2F261275761543965&a=submit+your+losses+now)\n. The firm also encourages persons with knowledge who may be able to assist\nthe investigation to contact its attorneys.\n\nVisit: https://www.hbsslaw.com/cases/primoris\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693867-1&h=2703417721&u=https%3A%2F%2Fwww.hbsslaw.com%2Fcases%2Fprimoris-services-corporation-prim-investigation&a=https%3A%2F%2Fwww.hbsslaw.com%2Fcases%2Fprimoris)\n\nContact the Firm Now: PRIM@hbsslaw.com (mailto:PRIM@hbsslaw.com)\n                                        844-916-0895\n\nPrimoris Services Corporation (PRIM) Investigation:\n\nHagens Berman's investigative focus is on the propriety of Primoris'\nstatements about trends in—and operational performance of—Primoris'\nrenewables business.\n\nPrimoris is fundamentally an energy and renewables company. In 2025, the\nEnergy segment generated nearly two-thirds of the firm's total revenue. Within\nthat segment, the renewable business has become the primary driver, alone\naccounting for roughly 40% of Primoris' entire annual revenue.\n\nIn February 2026, Primoris management attributed lower gross margins to\n\"unexpectedly higher costs\" at certain renewables projects, citing difficult\nsoil and rock conditions that required additional labor and equipment. While\nmanagement later downplayed the issue as being isolated to a single\nproject—expressing confidence in their remedial measures—they\nsimultaneously touted the company's ability to \"accelerate project timelines\"\nfor 2026.\n\nThe market's confidence in Primoris's \"remedial measures\" was shattered\nfollowing the release of the company's Q1 2026 financial results on May 5. The\nreport revealed a staggering decline in the core Energy segment, with\nyear-over-year revenues falling by $152.9 million (13.8%) and gross profits\nplunging by nearly 40%.\n\nCEO Koti Vadlamudi admitted during the May 6 earnings call that Primoris's\nfinancial results were battered by cost pressures across multiple solar\nprojects. Moving beyond the \"rock and soil\" reason used just months prior,\nVadlamudi cited a litany of execution-related factors as the cause of the\nmargin collapse:\n\n * Project Redesigns: Costly changes to existing plans.\n * Labor Issues: Inability to manage specific workforce demands.\n * Sequencing Errors: Failures in project management and timing.\n * Weather Disruptions: Further complicating already delayed timelines\nThe market swiftly reacted, sending the price of Primoris shares down 50% and\nwiping out about $5.5 billion of Primoris' market capitalization in a single\nday.\n\n\"We're focused on when Primoris' management learned of the renewable project\nexecution issues revealed on the May earnings call,\" said Reed Kathrein\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693867-1&h=1825232011&u=https%3A%2F%2Fwww.hbsslaw.com%2Fattorneys%2Freed-kathrein&a=Reed+Kathrein)\n, the Hagens Berman partner leading the firm's investigation.\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://edge.prnewswire.com/c/link/?t=0&l=en&o=4693867-1&h=1372350284&u=https%3A%2F%2Fhbsslaw.jotform.com%2F261275761543965&a=submit+your+losses+now.)\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 (mailto:PRIM@hbsslaw.com) .\n\nAbout Hagens Berman\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693867-1&h=4145587951&u=https%3A%2F%2Fwww.hbsslaw.com%2F&a=About+Hagens+Berman)\n\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\nat hbsslaw.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693867-1&h=312495062&u=https%3A%2F%2Fwww.hbsslaw.com%2F&a=hbsslaw.com)\n. Follow the firm for updates and news at @ClassActionLaw\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693867-1&h=675120344&u=https%3A%2F%2Fwww.twitter.com%2FClassActionLaw&a=%40ClassActionLaw)\n.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/primoris-services-prim-shares-crater-50-amid-expanded-renewables-issues--hbss-302778461.html\n(https://www.prnewswire.com/news-releases/primoris-services-prim-shares-crater-50-amid-expanded-renewables-issues--hbss-302778461.html)\n\nSOURCE Hagens Berman Sobol Shapiro LLP\n\n\n\nReed Kathrein, 844-916-0895\n\nPhoto: \nhttps://mma.prnewswire.com/media/2590203/Hagens_Berman_Sobol_Shapiro_LLP_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPndQhP9a","title":"Primoris Services (PRIM) Shares Crater 50% Amid Expanded Renewables Issues - HBSS","author":"PR Newswire","ticker":"PRIM","created":"2026-05-21T13:00:03.980Z","tickers":["PRIM"],"exchange":"NYSE","article_body":"Primoris Services (PRIM) Shares Crater 50% Amid Expanded Renewables Issues - HBSS\n\nPR Newswire\n\nSAN FRANCISCO, May 21, 2026\n\nSAN FRANCISCO, May 21, 2026 /PRNewswire/ -- Investors in Primoris Services\nCorporation (NYSE: PRIM) saw the price of their shares crater $101.69 (-50%)\non May 6, 2026 after the Company reported huge year-over-year and sequential\ndeclines in revenues and gross profits for its Energy segment and identified\nongoing, expanded issues with its renewables business.\n\n(https://mma.prnewswire.com/media/2590203/Hagens_Berman_Sobol_Shapiro_LLP_Logo.html)\n\nThe severe market reaction and expanded renewables issues have prompted\nshareholder rights firm Hagens Berman to open an investigation into whether\nPrimoris' disclosures about the health of its business before the Company\nreported after the market closed on May 5, 2026.\n\nThe firm encourages Primoris investors who suffered substantial losses to\nsubmit your losses now\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693867-1&h=737259447&u=https%3A%2F%2Fhbsslaw.jotform.com%2F261275761543965&a=submit+your+losses+now)\n. The firm also encourages persons with knowledge who may be able to assist\nthe investigation to contact its attorneys.\n\nVisit: https://www.hbsslaw.com/cases/primoris\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693867-1&h=2703417721&u=https%3A%2F%2Fwww.hbsslaw.com%2Fcases%2Fprimoris-services-corporation-prim-investigation&a=https%3A%2F%2Fwww.hbsslaw.com%2Fcases%2Fprimoris)\n\nContact the Firm Now: PRIM@hbsslaw.com (mailto:PRIM@hbsslaw.com)\n                                        844-916-0895\n\nPrimoris Services Corporation (PRIM) Investigation:\n\nHagens Berman's investigative focus is on the propriety of Primoris'\nstatements about trends in—and operational performance of—Primoris'\nrenewables business.\n\nPrimoris is fundamentally an energy and renewables company. In 2025, the\nEnergy segment generated nearly two-thirds of the firm's total revenue. Within\nthat segment, the renewable business has become the primary driver, alone\naccounting for roughly 40% of Primoris' entire annual revenue.\n\nIn February 2026, Primoris management attributed lower gross margins to\n\"unexpectedly higher costs\" at certain renewables projects, citing difficult\nsoil and rock conditions that required additional labor and equipment. While\nmanagement later downplayed the issue as being isolated to a single\nproject—expressing confidence in their remedial measures—they\nsimultaneously touted the company's ability to \"accelerate project timelines\"\nfor 2026.\n\nThe market's confidence in Primoris's \"remedial measures\" was shattered\nfollowing the release of the company's Q1 2026 financial results on May 5. The\nreport revealed a staggering decline in the core Energy segment, with\nyear-over-year revenues falling by $152.9 million (13.8%) and gross profits\nplunging by nearly 40%.\n\nCEO Koti Vadlamudi admitted during the May 6 earnings call that Primoris's\nfinancial results were battered by cost pressures across multiple solar\nprojects. Moving beyond the \"rock and soil\" reason used just months prior,\nVadlamudi cited a litany of execution-related factors as the cause of the\nmargin collapse:\n\n * Project Redesigns: Costly changes to existing plans.\n * Labor Issues: Inability to manage specific workforce demands.\n * Sequencing Errors: Failures in project management and timing.\n * Weather Disruptions: Further complicating already delayed timelines\nThe market swiftly reacted, sending the price of Primoris shares down 50% and\nwiping out about $5.5 billion of Primoris' market capitalization in a single\nday.\n\n\"We're focused on when Primoris' management learned of the renewable project\nexecution issues revealed on the May earnings call,\" said Reed Kathrein\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693867-1&h=1825232011&u=https%3A%2F%2Fwww.hbsslaw.com%2Fattorneys%2Freed-kathrein&a=Reed+Kathrein)\n, the Hagens Berman partner leading the firm's investigation.\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://edge.prnewswire.com/c/link/?t=0&l=en&o=4693867-1&h=1372350284&u=https%3A%2F%2Fhbsslaw.jotform.com%2F261275761543965&a=submit+your+losses+now.)\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 (mailto:PRIM@hbsslaw.com) .\n\nAbout Hagens Berman\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693867-1&h=4145587951&u=https%3A%2F%2Fwww.hbsslaw.com%2F&a=About+Hagens+Berman)\n\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\nat hbsslaw.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693867-1&h=312495062&u=https%3A%2F%2Fwww.hbsslaw.com%2F&a=hbsslaw.com)\n. Follow the firm for updates and news at @ClassActionLaw\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693867-1&h=675120344&u=https%3A%2F%2Fwww.twitter.com%2FClassActionLaw&a=%40ClassActionLaw)\n.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/primoris-services-prim-shares-crater-50-amid-expanded-renewables-issues--hbss-302778461.html\n(https://www.prnewswire.com/news-releases/primoris-services-prim-shares-crater-50-amid-expanded-renewables-issues--hbss-302778461.html)\n\nSOURCE Hagens Berman Sobol Shapiro LLP\n\n\n\nReed Kathrein, 844-916-0895\n\nPhoto: \nhttps://mma.prnewswire.com/media/2590203/Hagens_Berman_Sobol_Shapiro_LLP_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-05-21T13:00:03.997880892Z","server_sent_at_ms":1779368403997},"received_at":"2026-05-21T13:00:04.194Z","source_url":"https://www.prnewswire.com/news-releases/primoris-services-prim-shares-crater-50-amid-expanded-renewables-issues--hbss-302778461.html"},"analysis":{"id":"31729","press_release_id":"42291","analysis_json":{"industry":{"label":"Construction & Engineering","sector":"Industrials"},"redFlags":[],"eventType":"legal_litigation","narrative":"Hagens Berman Sobol Shapiro LLP issued a press release soliciting investors of Primoris Services (PRIM) to submit losses for an ongoing securities investigation.\n\nThe firm cites a 50% share price drop following Q1 2026 earnings, which revealed significant declines in the Energy segment's revenue and gross profits.\n\nThe investigation focuses on whether management knew about widespread renewables execution issues—such as project redesigns and labor problems—before disclosing them on the May 6 earnings call.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Plaintiff-firm solicitation -- suppress."},"keyFigures":{"customDimensions":{"market_cap_loss":"$5.5 billion","share_price_drop":"-50%","share_price_drop_usd":"$101.69","energy_revenue_decline_pct":"13.8%","energy_revenue_decline_yoy":"$152.9 million","energy_gross_profit_decline_pct":"40%"}},"quotedText":"We're focused on when Primoris' management learned of the renewable project execution issues revealed on the May earnings call","namedEntities":{"people":[{"name":"Koti Vadlamudi","role":"CEO"},{"name":"Reed Kathrein","role":"Partner, Hagens Berman"}],"products":[],"companies":[{"name":"Primoris Services Corporation","ticker":"PRIM","relationship":"target"},{"name":"Hagens Berman Sobol Shapiro LLP","relationship":"plaintiff law firm"}],"dollarAmounts":[{"amount":"$101.69","context":"share price drop amount"},{"amount":"$5.5 billion","context":"market capitalization wiped out"},{"amount":"$152.9 million","context":"year-over-year revenue decline in Energy segment"},{"amount":"$2.9 billion","context":"total recovered by Hagens Berman in similar cases"}]},"materialImpact":{"score":1,"reasoning":"This is a plaintiff law-firm solicitation issued by Hagens Berman Sobol Shapiro LLP. It contains no new disclosure from the issuer, no certified class, and no settlement. It is routine marketing for a shareholder lawsuit investigation."},"tickerRelevance":{"others":[],"primary":"PRIM"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":[],"importanceComponents":{"context":"Underlying earnings miss was material, but this specific release is low-signal marketing noise.","tickerTier":"mid-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"Hagens Berman Sobol Shapiro LLP issued a press release soliciting investors of Primoris Services (PRIM) to submit losses for an ongoing securities investigation.\n\nThe firm cites a 50% share price drop following Q1 2026 earnings, which revealed significant declines in the Energy segment's revenue and gross profits.\n\nThe investigation focuses on whether management knew about widespread renewables execution issues—such as project redesigns and labor problems—before disclosing them on the May 6 earnings call.","key_figures":{"customDimensions":{"market_cap_loss":"$5.5 billion","share_price_drop":"-50%","share_price_drop_usd":"$101.69","energy_revenue_decline_pct":"13.8%","energy_revenue_decline_yoy":"$152.9 million","energy_gross_profit_decline_pct":"40%"}},"named_entities":{"people":[{"name":"Koti Vadlamudi","role":"CEO"},{"name":"Reed Kathrein","role":"Partner, Hagens Berman"}],"products":[],"companies":[{"name":"Primoris Services Corporation","ticker":"PRIM","relationship":"target"},{"name":"Hagens Berman Sobol Shapiro LLP","relationship":"plaintiff law firm"}],"dollarAmounts":[{"amount":"$101.69","context":"share price drop amount"},{"amount":"$5.5 billion","context":"market capitalization wiped out"},{"amount":"$152.9 million","context":"year-over-year revenue decline in Energy segment"},{"amount":"$2.9 billion","context":"total recovered by Hagens Berman in similar cases"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-05-21T13:06:07.072Z","global_importance":15,"audience_relevance":10,"importance_components":{"context":"Underlying earnings miss was material, but this specific release is low-signal marketing noise.","tickerTier":"mid-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"durationMs":21733,"modelName":"george-droid-qwen-72b"}}