Primoris Services, Q3 2026 Earnings Call Transcript

Primoris expects a return to profitable growth in 2027 as costly solar projects near completion and demand across utility and energy infrastructure remains strong. The company lowered its 2026 renewables revenue outlook to about $1.7 billion after regulatory disruption delayed roughly $450 million of work; it expects modest renewables growth next year and Energy segment margins to recover to the historical 10%–12% range. Natural gas generation revenue is forecast to exceed $1 billion in 2027, supported by a large opportunity pipeline, while PayneCrest’s expanding backlog and strong power-delivery and gas-operations demand underpin growth. Record company backlog and improving work mix support management’s confidence in meeting or exceeding 2027 revenue expectations. Risks include continued regulatory uncertainty, project execution and labor constraints, and softness in communications and fiber-to-the-home markets.