$PRIM (Primoris Services) — 8-K: Primoris Q3 revenue falls 10.4% to $2.0B, net income $51.3M, backlog hits record $14.1B

Revenue was $2.0 billion, down 10.4% year over year, driven by lower renewables revenue in the Energy segment, partially offset by Utilities growth. Net income was $51.3 million, or $0.95 per diluted share, down $43.3 million from the prior-year quarter; adjusted EPS was $1.20. Adjusted EBITDA fell 20.3% to $134.4 million. Total backlog reached a record $14.1 billion, including $8.5 billion of MSA backlog, and the company authorized up to $250 million of share repurchases. Full-year 2026 guidance: net income $65.2 million to $73.2 million, adjusted EBITDA $290.0 million to $310.0 million, EPS $1.20 to $1.35, adjusted EPS $2.10 to $2.25.

Revenue was $2.0 billion, down 10.4% year over year, driven by lower renewables revenue in the Energy segment, partially offset by Utilities growth. Net income was $51.3 million, or $0.95 per diluted