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 is a construction and engineering company that provides a variety of services across sectors such as energy, transportation, and water. With a market cap of $7 billion, it plays a significant role in the industrial sector, particularly as infrastructure spending continues to grow in the U.S.

Key Metrics to Watch

Earnings Per Share (EPS)

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

N/A

Revenue Growth

Revenue growth is crucial for understanding the company's ability to expand its operations and capture market share in a competitive environment.

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, reflecting some investor optimism.

Management Promises & Guidance

Focus on improving operational efficiency.
Commitment to securing new contracts in the energy sector.
Plans to enhance project execution capabilities.

Expectations

Wall Street Expectations

Investors are cautiously optimistic about Primoris's upcoming earnings, especially given its history of beating EPS estimates. However, the recent miss has led to some skepticism about its ability to maintain growth.

Bull Case

If Primoris can demonstrate strong revenue growth and improved margins, it could reaffirm investor confidence and lead to a significant stock price increase.

Bear Case

Conversely, if the company reports another earnings miss or weak guidance, it could lead to a sharp decline in stock price as investors reassess their outlook.

Expectations

Two Questions That Matter

The print will turn on these two things.

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

Backlog levels will provide insight into future revenue potential and the company's ability to secure contracts in a competitive market.

Can management provide guidance on expected revenue growth for the next quarter?

Guidance on revenue growth will be critical for investor sentiment and could influence stock performance significantly.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for backlog growth in the energy sector, which could lead to stronger-than-expected revenue.

Supporting Evidence

Recent insider buying suggests confidence in the company's future prospects.

The options market is pricing in a larger move than historical averages, indicating heightened expectations.

Primoris has a strong track record of beating EPS estimates, suggesting potential for a positive surprise.

Key Risk

If backlog levels show significant growth, it could challenge the current cautious sentiment and lead to a reevaluation of the stock's value.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is closely watching backlog levels and revenue guidance as indicators of future performance and growth.

Bull Confirmed If

A backlog increase of 15% or more compared to last quarter would confirm strong demand and growth potential.

Bear Confirmed If

A backlog decrease or stagnant levels could signal weakening demand and lead to negative sentiment.

Pre-Earnings Positioning

Options Market

Implied Move

±5.45%

Historical Avg

±3.1%

Pricing rich

The options market is pricing in a potential move of about 5.45%, indicating 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 and raises guidance, history suggests the stock could rise by an average of 3.12% on the next trading day.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may experience a muted reaction as investors reassess their outlook.

Miss

Should the company miss earnings expectations again, history indicates an average decline of 9.36% on the next trading day.

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 backlog levels and contract wins in the energy sector.
2Any commentary on cost management and operational efficiency improvements.
3Guidance on revenue expectations for the next quarter.
4Insights into market demand trends for construction and engineering services.
5Management's outlook on potential risks and opportunities in the current economic environment.

See the full picture

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

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

N/A

Revenue Growth

Revenue growth is crucial for understanding the company's ability to expand its operations and capture market share in a competitive environment.

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 the energy sector.
Plans to enhance project execution capabilities.

Expectations

Wall Street Expectations

Bull Case

If Primoris can demonstrate strong revenue growth and improved margins, it could reaffirm investor confidence and lead to a significant stock price increase.

Bear Case

Conversely, if the company reports another earnings miss or weak guidance, it could lead to a sharp decline in stock price as investors reassess their outlook.

Expectations

Two Questions That Matter

The print will turn on these two things.

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

Backlog levels will provide insight into future revenue potential and the company's ability to secure contracts in a competitive market.

Can management provide guidance on expected revenue growth for the next quarter?

Guidance on revenue growth will be critical for investor sentiment and could influence stock performance significantly.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for backlog growth in the energy sector, which could lead to stronger-than-expected revenue.

Supporting Evidence

Recent insider buying suggests confidence in the company's future prospects.

The options market is pricing in a larger move than historical averages, indicating heightened expectations.

Primoris has a strong track record of beating EPS estimates, suggesting potential for a positive surprise.

Key Risk

If backlog levels show significant growth, it could challenge the current cautious sentiment and lead to a reevaluation of the stock's value.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is closely watching backlog levels and revenue guidance as indicators of future performance and growth.

Bull Confirmed If

A backlog increase of 15% or more compared to last quarter would confirm strong demand and growth potential.

Bear Confirmed If

A backlog decrease or stagnant levels could signal weakening demand and lead to negative sentiment.

Pre-Earnings Positioning

Options Market

Implied Move

±5.45%

Historical Avg

±3.1%

Pricing rich

The options market is pricing in a potential move of about 5.45%, indicating 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 and raises guidance, history suggests the stock could rise by an average of 3.12% on the next trading day.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may experience a muted reaction as investors reassess their outlook.

Miss

Should the company miss earnings expectations again, history indicates an average decline of 9.36% on the next trading day.

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 backlog levels and contract wins in the energy sector.
2Any commentary on cost management and operational efficiency improvements.
3Guidance on revenue expectations for the next quarter.
4Insights into market demand trends for construction and engineering services.
5Management's outlook on potential risks and opportunities in the current economic environment.