Equity Profile

PRIM

Primoris Services Corporation

IndustrialsConstruction & Engineering$6.8B

Aug11Tue

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Primoris Services Corporation operates in the construction and engineering sector, providing a range of services including infrastructure and utility construction. With a market cap of $7 billion, the company plays a vital role in supporting various industrial projects, which are essential for economic growth and development.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of a company's profitability and will help investors gauge how well Primoris is managing its costs and generating income.

N/A

Revenue Growth

Revenue growth reflects the company's ability to secure new contracts and expand its business, which is crucial in the competitive construction industry.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

PRIM Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+40.05%

Avg Stock Reaction

+0.69%

Last Quarter Recap

In Q1-2026, Primoris reported an EPS of $0.59, which was significantly below the expected $0.81, resulting in a 26.71% surprise. Despite this miss, the stock rose by 9.36% the following day, indicating some investor optimism.

Management Promises & Guidance

Focus on improving operational efficiency.
Commitment to securing new contracts in key sectors.
Plans to enhance project execution capabilities.

Expectations

Wall Street Expectations

Overall, expectations for Primoris are mixed as the company has a history of beating earnings estimates, but recent performance raises concerns about its ability to maintain this trend.

Bull Case

If Primoris can demonstrate strong revenue growth and a solid project backlog, it could reassure investors about its future prospects and drive the stock higher.

Bear Case

Conversely, if the company fails to meet earnings expectations again, it could lead to a significant sell-off, especially given the recent miss in Q1.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current project backlog and how does it compare to previous quarters?

The backlog is crucial for understanding future revenue potential, and any significant changes could impact investor confidence.

What specific steps is management taking to improve operational efficiency?

Operational efficiency directly affects profitability, and investors will be keen to hear about actionable plans to enhance performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for revenue growth due to a strong project pipeline that has not been fully reflected in analyst models.

Supporting Evidence

The last quarter's miss was attributed to temporary factors, not a lack of demand.

Insider buying activity suggests confidence in the company's future prospects.

Options pricing indicates a higher expected move, reflecting uncertainty that could be resolved positively.

Key Risk

If the project backlog shows significant growth, it could shift the narrative around the company's future revenue potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Primoris can sustain its growth trajectory amidst operational challenges.

Bull Confirmed If

A project backlog increase of over 15% compared to last quarter would confirm strong future revenue potential.

Bear Confirmed If

If EPS comes in below $0.50, it would indicate ongoing challenges in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±5.45%

Historical Avg

±3.1%

Pricing rich

The options market is pricing in a move of approximately 5.45%, suggesting that traders expect some volatility around the earnings announcement.

Options are pricing ±5.5% while PRIM has averaged ±3.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

215.7%

Calls (49K)P/C Ratio: 0.07Puts (8K)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$1,667.71

10.144 sh

1 insider

Sold

$0.00

0 sh

0 insiders

Net

$1,667.71

Net buying

Most Active Insiders· 1 open-market trade

Insider

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Primoris beats expectations, history suggests the stock could rise by around 1.24% on average, confirming a positive outlook.

In-Line / Cautious

A cautious but in-line report may lead to muted reactions, as investors assess management's commentary on future growth.

Miss

If the company misses again, history indicates a potential drop of around 9.36%, reflecting heightened investor concern.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·1 sell

Members

House only

Est. Notional

$2,002.00–$30,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
2

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the project backlog and any new contract wins.
2Details on operational efficiency improvements and cost management.
3Any commentary on market conditions affecting the construction sector.
4Insights into future revenue guidance and growth strategies.
5Management's assessment of competitive pressures and how they plan to respond.

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of a company's profitability and will help investors gauge how well Primoris is managing its costs and generating income.

N/A

Revenue Growth

Revenue growth reflects the company's ability to secure new contracts and expand its business, which is crucial in the competitive construction industry.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

PRIM Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+40.05%

Avg Stock Reaction

+0.69%

Last Quarter Recap

Management Promises & Guidance

Focus on improving operational efficiency.
Commitment to securing new contracts in key sectors.
Plans to enhance project execution capabilities.

Expectations

Wall Street Expectations

Overall, expectations for Primoris are mixed as the company has a history of beating earnings estimates, but recent performance raises concerns about its ability to maintain this trend.

Bull Case

If Primoris can demonstrate strong revenue growth and a solid project backlog, it could reassure investors about its future prospects and drive the stock higher.

Bear Case

Conversely, if the company fails to meet earnings expectations again, it could lead to a significant sell-off, especially given the recent miss in Q1.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current project backlog and how does it compare to previous quarters?

The backlog is crucial for understanding future revenue potential, and any significant changes could impact investor confidence.

What specific steps is management taking to improve operational efficiency?

Operational efficiency directly affects profitability, and investors will be keen to hear about actionable plans to enhance performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for revenue growth due to a strong project pipeline that has not been fully reflected in analyst models.

Supporting Evidence

The last quarter's miss was attributed to temporary factors, not a lack of demand.

Insider buying activity suggests confidence in the company's future prospects.

Options pricing indicates a higher expected move, reflecting uncertainty that could be resolved positively.

Key Risk

If the project backlog shows significant growth, it could shift the narrative around the company's future revenue potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Primoris can sustain its growth trajectory amidst operational challenges.

Bull Confirmed If

A project backlog increase of over 15% compared to last quarter would confirm strong future revenue potential.

Bear Confirmed If

If EPS comes in below $0.50, it would indicate ongoing challenges in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±5.45%

Historical Avg

±3.1%

Pricing rich

The options market is pricing in a move of approximately 5.45%, suggesting that traders expect some volatility around the earnings announcement.

Options are pricing ±5.5% while PRIM has averaged ±3.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

215.7%

Calls (49K)P/C Ratio: 0.07Puts (8K)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$1,667.71

10.144 sh

1 insider

Sold

$0.00

0 sh

0 insiders

Net

$1,667.71

Net buying

Most Active Insiders· 1 open-market trade

Insider

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Primoris beats expectations, history suggests the stock could rise by around 1.24% on average, confirming a positive outlook.

In-Line / Cautious

A cautious but in-line report may lead to muted reactions, as investors assess management's commentary on future growth.

Miss

If the company misses again, history indicates a potential drop of around 9.36%, reflecting heightened investor concern.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·1 sell

Members

House only

Est. Notional

$2,002.00–$30,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
2

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the project backlog and any new contract wins.
2Details on operational efficiency improvements and cost management.
3Any commentary on market conditions affecting the construction sector.
4Insights into future revenue guidance and growth strategies.
5Management's assessment of competitive pressures and how they plan to respond.