Primoris Services Corporation (PRIM) shares tumbled 44.80 percent to $112.05 on Wednesday, down $90.87, after the company reported a sharp decline in first-quarter earnings driven by lower revenue and higher costs.
The stock is currently trading at $112.05, compared to a previous close of $202.92 on the New York Stock Exchange. It opened at $128.39 and traded between $108.00 and $133.85 during the session, with volume reaching 5.24 million shares.
The decline follows net income falling to $17.4 million, or $0.32 per share, from $44.2 million, or $0.82 per share last year, while revenue slipped to $1.56 billion. Rising expenses and weaker gross profit weighed on results.
The stock has traded between $65.23 and $205.50 over the past 52 weeks.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.