Revenue during the quarter grew 27.10 percent to $2,178.17 million from $1,713.74 million in the previous year period. Gross margin for the quarter expanded 36 basis points over the previous year period to 12.22 percent. Total expenses were 96.55 percent of quarterly revenues, down from 97.82 percent for the same period last year. This has led to an improvement of 127 basis points in operating margin to 3.45 percent.

Operating income for the quarter was $75.07 million, compared with $37.29 million in the previous year period.

“Our first quarter results were in line with our expectations and put us on track to achieve our full year outlook. We continue to believe we are entering a renewed multiyear up-cycle across our operations. Our end markets are strengthening and we believe there is opportunity for our backlog to achieve record levels over the coming quarters,” said Duke Austin, president and chief executive officer of Quanta Services. “Quantas differentiation in the marketplace continues to increase as we strengthen our core business and extend our solutions offerings through new service lines and geographic enhancement. With our core management team in place, we are actively expanding our communications infrastructure services operations in the United States, which complement our existing Canadian and Latin American operations. Our expansion in the U.S. has been well received by current and potential customers, and we are close to executing several agreements with major service providers.”

Quanta Services expects revenue to be in the range of $8,100 million to $8,600 million for financial year 2017. For financial year 2017, the company projects diluted earnings per share to be in the range of $1.52 to $1.77. For financial year 2017, the company projects diluted earnings per share to be in the range of $1.82 to $2.07 on adjusted basis.