Primoris Services (PRIM) said late Monday its chief operating officer, Jeremy Kinch, is departing from the company, effective immediately.

Also, Primoris expects lower revenue and gross profit for 2026, primarily driven by its Renewables business, as cost overruns and delays were identified, according to a statement.

For 2026, the company now expects adjusted EPS of $2.05 to $2.60, down from the prior outlook of $4.80 to $5.00. Analysts polled by FactSet expect $4.85.

Shares of Primoris Services were down more than 32% in after-hours activity.