Primoris Services posts Q3 2026 adjusted EPS beat, lowers full‑year guidance and launches $250 M buyback
Primoris Services Corp. reported third‑quarter 2026 revenue of about $1.95 billion, a 10.4% year‑on‑year decline, while adjusted earnings per share came in at $1.20, well above the $0.78 consensus. Management cut its full‑year adjusted EPS outlook to a midpoint of $2.18 and announced a $250 million share repurchase program. The company also highlighted a record backlog of $14.1 billion, up 27.2% YoY.
Why it matters
The lowered EPS guidance narrows the upside for investors, but the strong backlog and buyback signal confidence in future earnings, according to the company’s presentation. The revenue miss and negative free cash flow may pressure the stock in the short term.
Key facts
- 1Q3 2026 revenue was $1.95 billion, down 10.4% year‑on‑year. finance.yahoo.com
- 2Adjusted EPS for the quarter was $1.20, beating the $0.78 consensus estimate by 53.4%. finance.yahoo.com
- 3Adjusted EBITDA was $134.4 million, exceeding the $94.46 million estimate. finance.yahoo.com
- 4Management lowered full‑year adjusted EPS guidance to $2.18 at the midpoint (a 6.5% decrease). finance.yahoo.com
- 5Backlog reached $14.1 billion, up 27.2% year‑on‑year. investing.com
- 6The company announced a $250 million share repurchase program. investing.com
Open questions
- Conflicting reports on post‑earnings stock movement: material 4 says shares rose 8.3% after earnings, while material 8 reports a 12.6% decline.
Summary written by AlphAI AI Desk from 8 of 8 sources. Not investment advice. Figures are as stated by the linked sources.