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Primoris Services Corporation (NYSE:PRIM) is one of the best engineering stocks to buy in 2026. On May 5, Primoris announced financial results for Q1 2026, reporting revenue of $1.6 billion. While this represents a 5.4% decrease year-over-year, the company saw growth in its Utilities segment that helped offset lower revenue in the Energy sector. Net income for the quarter stood at $17.4 million, or $0.32 per diluted share, while the total backlog remained substantial at $11.6 billion.
Additionally, the company recently finalized the acquisition of PayneCrest Electric Inc. on May 1 to enhance its presence in the high-growth data center and industrial markets. The quarterly performance was impacted by cost pressures on a limited number of renewables projects, which are expected to reach completion later this year. However, President and CEO Koti Vadlamudi noted that the majority of the renewables portfolio is performing well, with margin expansion occurring in the power delivery and industrial businesses.
Looking ahead, Primoris Services Corporation (NYSE:PRIM) updated its full-year 2026 guidance to include the contributions from the PayneCrest acquisition, projecting net income between $223 million and $234 million. Full-year Adjusted EBITDA is estimated to range from $480 million to $500 million, with Adjusted EPS expected between $4.80 and $5.00.
Primoris Services Corporation (NYSE:PRIM) provides infrastructure services across the US and Canada.
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