Primoris Services (PRIM) Shares Crater 40% Intraday Amid Additional Renewables Revenue Shock, COO Departure – HBSS

Primoris Services (PRIM) stock plummeted 40% intraday on June 23, 2026, following disclosure of additional cost overruns and challenges in its renewables business, which is expected to see 30% revenue decline in 2026. The announcement also included the abrupt departure of the company's Chief Operating Officer. This marks the second major stock decline in less than two months, with combined losses exceeding $7.8 billion in market capitalization. Hagens Berman is investigating whether pre-May 5 statements about the renewables business misled investors.