PRIM micro: Renewables revenue flat in 2026

What happened: Primoris Services Corporation (NYSE:PRIM), a leading engineering and construction company, expects its 2026 renewables revenue to be flat to slightly down, despite strong bookings. Guggenheim analyst Joseph Osha raised PRIM's price target to $195 on April 20, 2026, citing the company's position among the top data center engineering stocks. PRIM reported Q1 2026 revenue of $1.6 billion, a 5.4% decrease YoY, but saw growth in its Utilities segment.

Market impact: This narrative affects the renewable energy and engineering, procurement, and construction (EPC) sectors. It suggests a potential slowdown in renewables project execution in 2026, which could impact related supply chains and equipment manufacturers. PRIM's stock price may be influenced by investors' reactions to the flat revenue outlook and Guggenheim's price target raise.

What to watch next: Investors should monitor PRIM's Q2 2026 earnings, scheduled for August 5, 2026, to assess the company's progress and any updates on its renewables outlook. Additionally, regulatory developments around Section 48E tax equity issues could impact PRIM's project timelines and should be closely watched.