Primoris Q2 FY26 operating loss widens to $26.8 million; revenue falls 10.7% to $1.7 billion

• Primoris Services posts Q2 revenue of $1.7 billion, down 10.7% year over year, as gross profit falls 64.4% to $82.4 million.
• Operating results swing to a $26.8 million loss from income of $126.6 million, driven by an Energy segment operating loss of $56.4 million.
• Energy revenue drops 19.2% to $999.9 million as renewable work starts and project financial closes run slower than expected; Utilities revenue rises 2.8% to $712.6 million.
• Backlog climbs to $13.86 billion from $11.95 billion at Dec. 31, with $6.09 billion slated for the next 12 months.
• Completed the $404.7 million cash acquisition of PayneCrest Electric on May 1, adding data center services exposure; cash ends at $218.2 million.

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