Revenue during the quarter surged 30.45 percent to $561.50 million from $430.45 million in the previous year period. Gross margin for the quarter expanded 68 basis points over the previous year period to 9.80 percent. Total expenses were 97.29 percent of quarterly revenues, down from 98.46 percent for the same period last year. This has led to an improvement of 117 basis points in operating margin to 2.71 percent.

Operating income for the quarter was $15.20 million, compared with $6.62 million in the previous year period.

David King, President and Chief Executive Officer of Primoris, commented, "We have started this year with record revenue for the first quarter, while strong bookings during the quarter have kept our backlog at a record high. Despite the traditional weather-related slow start to the year for our Utilities and Distribution segment, our revenue and earnings improved significantly from last year's first quarter driven by the performance of our Pipeline and Underground segment. We experienced an increase in earnings in our Power, Industrial, & Engineering segment and expect that the power market will continue to improve over the course of the year, with the continued low cost of natural gas a key driver for the pipeline, power, and industrial markets."

Operating cash flow turns positive
Primoris Services Corp has generated cash of $49.09 million from operating activities during the quarter as against cash outgo of $35.61 million in the last year period.

The company has spent $17.24 million cash to meet investing activities during the quarter as against cash outgo of $13.06 million in the last year period. It has incurred capital expenditure of $17.24 million on net basis during the quarter, up 2,049.38 percent or $16.44 million from year ago period.

The company has spent $19.19 million cash to carry out financing activities during the quarter as against cash outgo of $13.65 million in the last year period.

Cash and cash equivalents stood at stood at $148.48 million as at Mar. 31, 2017.