Primoris Services Corporation (NASDAQ: PRIM) experienced a significant after-hours plunge of 30.77% on Tuesday, following the release of its first-quarter 2026 financial results.

The sharp decline was driven by the company's reported earnings, which fell short of analyst expectations across key metrics. Primoris reported adjusted earnings per share of $0.59, missing the consensus estimate of $0.84 by 29.76%. Quarterly sales of $1.560 billion also missed the estimated $1.732 billion by 9.91%. Furthermore, the company's adjusted EBITDA of $60.5 million and adjusted net income of $32.2 million were below estimates of $92.9 million and $44.8 million, respectively.

The results represent a year-over-year decrease in both earnings and sales, contrasting with the positive market sentiment and analyst upgrades that had boosted the stock price earlier in the trading session, ultimately leading to a severe correction after the earnings disclosure.