10% Rebound After 35% Plunge… Revived Bets on U.S. Infrastructure Stocks

Primoris Services Corporation (Nasdaq: PRIM) shares closed at $93.20 on June 24, up 9.71% from the previous day—roughly ₩130,000 per share. The company’s market capitalization climbed to about $5.06 billion (approximately ₩7.1 trillion), recovering some $540 million (about ₩0.8 trillion) in enterprise value in a single session. Trading volume surged to roughly 3.3 million shares.

This stock had plunged more than 30% following its June 22 announcement of a steep downward revision to 2026 guidance—attributable to cost overruns on renewable-energy projects—and the sudden departure of its chief operating officer. Today, Primoris reaffirmed its lowered 2026 outlook—projecting net income of $71 million to $101 million, diluted EPS of $1.30 to $1.85, and adjusted EPS of $2.05 to $2.60—while also announcing approximately $2 billion (₩2.8 trillion) in new contract awards and a $50 million (₩70 billion) share buyback program, prompting an around-10% rebound in the share price.

Headquartered in Dallas, Texas, Primoris Services is an infrastructure‐focused construction and engineering firm executing projects across utilities, energy and renewables—including transmission lines; gas and water treatment pipelines; industrial plants; and data centers. In Q1 2026, the company reported revenue of about $1.6 billion (₩2.2 trillion). Its backlog stood at approximately $11.6 billion (around ₩16 trillion), though the burden of renewable-energy cost overruns and fixed-price contract structures has emerged as a key risk factor for future earnings volatility.