Primoris Stock Drops 39% Since January, Backlog Hits $11.6 Billion

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Summary · why it matters

Primoris shares have fallen 39.3% since January 2026 to $89.91 per share following softer quarterly results. The company reported a backlog of $11.6 billion in its latest quarter, with two-year average annual backlog growth of 86.5%, signaling strong future revenue visibility. Long-term earnings per share grew at a 16.8% annual rate over the past five years, though gross margins averaged just 10.7% over the same period, reflecting competitive pressures. The stock now trades at 36.8 times forward earnings.

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