Primoris Services Shares Fall 40% on Renewables Shortfall, COO Exit
Primoris Services Corporation shares fell $43.34, or 40%, intraday on June 23, 2026, following disclosure of further renewables business cost overruns and the departure of its Chief Operating Officer.
Primoris Services Corporation (NYSE: ) shares fell $43.34, or 40%, during intraday trading on June 23, 2026, after the company disclosed additional cost overruns in its renewables business and the abrupt departure of its Chief Operating Officer [1]. The drop marks the second major selloff for Primoris in less than two months [2].
The company announced ongoing challenges and expanded cost issues within its renewables project portfolio, compounding problems that first emerged in early May [1]. On May 5, 2026, Primoris had reported large year-over-year and sequential revenue and gross profit declines in its Energy segment, along with initial renewables business troubles, sending shares down $101.69, or 50% [1]. The COO departure announced June 22, 2026, occurred without prior public indication of succession planning [2].
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