On June 24, Primoris Services rose 8.23% in regular trading, trading at $94.57/share, with turnover of approximately $90.65 million. The rebound follows a dramatic sell-off in the prior session, during which the stock plunged over 21%.

The prior sessions collapse was driven by a dual shock: the company slashed its full-year adjusted EPS guidance to $2.05–$2.60, down from the prior range of $4.80–$5.00 and well below the analyst consensus of $4.85 — representing a cut exceeding 50%. Simultaneously, COO Jeremy Kinch departed effective immediately, marking the second senior executive exit from the Renewables division in weeks. The guidance reduction stemmed from severe cost overruns and schedule delays across six disclosed renewable energy projects, with segment revenue expected to drop from approximately $3 billion to $2.1 billion. KeyBanc downgraded the stock from Overweight to Sector Weight and withdrew its $137 price target.

Despite the intraday bounce, the stock remains well below its pre-announcement level of $108.34 and its 52-week high of $205.50.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)