Primoris Services Corporation filed its quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission for the period ended June 30, 2026, disclosing a net loss for both the second quarter and the first half of the year compared with net income in the same periods of 2025.

Key Highlights

  • Q2 2026 revenue: $1,688.2 million, down from $1,890.7 million in Q2 2025, according to the filing.
  • Q2 2026 net loss: $(24.2) million, compared with net income of $84.3 million in Q2 2025.
  • Six-month net loss: $(6.7) million for the first half of 2026, versus net income of $128.6 million for the first half of 2025.
  • Diluted loss per share: $(0.45) for Q2 2026 and $(0.12) for the six months ended June 30, 2026.
  • Total assets: $4,638.8 million as of June 30, 2026, up from $4,407.8 million at December 31, 2025.
  • Long-term debt (net of current portion): $752.0 million at June 30, 2026, compared with $409.0 million at December 31, 2025.
  • Shares outstanding: 53,832,327 shares of common stock as of July 31, 2026.

Primoris Services Reports Swing to Loss in Second Quarter 2026

Primoris Services Corporation (New York Stock Exchange: PRIM) reported a sharp year-over-year reversal in profitability for the three months ended June 30, 2026. According to the filing, revenue fell to $1,688.2 million from $1,890.7 million in the prior-year quarter, while gross profit declined to $82.4 million from $231.7 million. The company reported an operating loss of $(26.8) million for Q2 2026, compared with operating income of $126.6 million in Q2 2025. Transaction and related costs were $2.9 million in Q2 2026, up from $0.5 million in Q2 2025.

For the six months ended June 30, 2026, the filing disclosed revenue of $3,248.1 million versus $3,538.8 million for the same period in 2025. Operating loss for the first half of 2026 was $(2.3) million, compared with operating income of $197.0 million in the prior-year period. The company recorded an income tax benefit of $9.9 million for the six-month period, partially offsetting the pre-tax loss of $(16.6) million.

On the balance sheet, total assets grew to $4,638.8 million at June 30, 2026, from $4,407.8 million at December 31, 2025, driven in part by increases in goodwill (to $1,051.5 million from $856.9 million) and intangible assets, net (to $375.2 million from $190.2 million). Cash and cash equivalents declined to $218.2 million from $535.5 million over the same period. Long-term debt, net of current portion, rose to $752.0 million from $409.0 million. Total stockholders' equity decreased to $1,606.3 million from $1,681.0 million at year-end 2025. During Q2 2026, the company repurchased 449,287 shares for $50.0 million and declared dividends of $0.08 per share.

What Was Disclosed

The 10-Q filing for the quarter ended June 30, 2026, reported a net loss of $(24.2) million for Q2 and $(6.7) million for the first half of 2026, with revenue, gross profit, and operating income all declining from the comparable 2025 periods, while total assets increased and long-term debt rose substantially.