Primoris Services Faces Securities Probe After Guidance Slash

The sharp decline followed a June 22 disclosure regarding severe cost overruns across six separate renewable energy projects. Only six weeks prior, on May 6, Primoris management had reaffirmed a strong fiscal outlook, reporting $856.9 million in goodwill with no impairment recorded. This projection stood in stark contrast to the company’s February 24 guidance, which had aimed for an adjusted EBITDA as high as $580 million.

Levi & Korsinsky is now examining whether these rapid fluctuations in reported financial health constitute violations of securities law. The inquiry focuses on whether CEO Koti Vadlamudi and CFO Ken Dodgen provided misleading information to investors when they certified the company's Q1 2026 filings. The investigation remains open to any shareholders who incurred losses after purchasing PRIM stock, regardless of whether those shares are still held or have since been sold.