Primoris Services Corporation's stock experienced a sharp pre-market plunge of 27.05% on Wednesday, following the release of its first-quarter financial results.

The severe decline was driven by the company's Q1 2026 earnings report, which significantly missed analyst expectations. Primoris reported adjusted earnings per share of $0.59, falling short of the $0.84 consensus estimate. Revenue of $1.56 billion also missed the expected $1.73 billion, representing a 5.4% year-over-year decrease.

Furthermore, the company provided full-year 2026 adjusted EPS guidance in the range of $4.80 to $5.00, which is well below the analyst consensus estimate of $5.98. Management cited cost pressures on a limited number of renewables projects, including project redesigns and labor challenges, which weighed on the Energy segment's margins.