Exhibit 99.1

PRIMORIS SERVICES CORPORATION ANNOUNCES 2017 THIRD QUARTER FINANCIAL RESULTS

Board of Directors Increased Quarterly Cash Dividend to $0.06 Per Share

Financial Highlights

Dallas, TX – November 6, 2017– Primoris Services Corporation (NASDAQ GS: PRIM) (“Primoris” or “Company”) today announced financial results for its third quarter ended September 30,  2017.

The Company also announced that on November 2, 2017 its Board of Directors authorized a 9% increase in the quarterly cash dividend to $0.06 per share from $0.055 per share.  The cash dividend will be paid to stockholders of record on December 29, 2017, payable on or about January 15, 2018. 

David King, President and Chief Executive Officer of Primoris, commented, “Primoris’ third quarter results are a reflection of our performance serving our diverse end markets.  We  experienced year over year revenue gains at the majority of our business units, with notable gains from our power projects, Gulf Coast based pipeline work and Utilities & Distribution segment.  Our utility businesses grew revenue not just with current customers but also with new customers in new geographies.  As we expected last quarter, the Civil segment’s gross margins returned to profitability, and as we work off legacy jobs, we believe margins should continue to improve for the segment.  Our acquisition strategy is paying off, as we saw positive contributions from all of our recent acquisitions.

“While hurricanes across the Gulf Coast had some impact on our third quarter results, we are extremely proud of the earnings we achieved.  Our crews are not only working profitably; they are working safely, and that is every bit as important.  Our backlog declined slightly to end the quarter at $2.62 billion, but our sales team continues doing an outstanding job of developing new projects.  Every segment reported new business awards contributing to the backlog results.”

Mr. King concluded,  “As we look at the year ahead, we have provided our guidance for the next four quarters based on our expectations of the timing of major projects and project awards, but we remain mindful that start and award dates remain uncertain.  Nevertheless, we see improving opportunities for growth in all of our end markets, especially for pipeline work and EPC projects and for utility work on top of our stable base business.”

2017 THIRD QUARTER RESULTS OVERVIEW

Revenues in the third quarter 2017 were $608.3 million, an increase of $100.5 million compared to the same period in 2016.  Gross profit for the third quarter 2017 was $70.4 million, an increase of $20.3 million compared to the same period in 2016.  Gross profit as a percentage of revenue increased to 11.6% for the third quarter 2017, compared to 9.9% for the same period in 2016.

Selling, general, and administrative expenses in the 2017 third quarter were $42.6 million compared to $36.0 million in the same period of 2016.  The primary reason for the increase in SG&A is from the businesses acquired subsequent to the third quarter of 2016.  SG&A as a percentage of total revenue was 7.0% in the 2017 third quarter compared to 7.1% in the same period of 2016.

Included in other income in the 2017 third quarter is $6.0 million of unrealized gain from a short-term investment in marketable securities.  We do not anticipate that such a gain would recur with any frequency

SEGMENT RESULTS

Through the end of the year 2016, Primoris segregated its business into three reportable segments: the Energy segment, the East Construction Services segment, and the West Construction Services segment.  In the first quarter 2017, Primoris changed its reportable segments to match the changes in the Company’s realigned internal organization and management structure.  A Form 8-K was filed on April 7, 2017 containing historical revenue, margin, and backlog information for the new segments.

Segment Revenues

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Segment Gross Profit

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Power, Industrial, & Engineering Segment:  Revenue in the Power segment increased by $52.4 million in the third quarter of 2017, compared to the same period in 2016.  The increase was primarily due to increased revenues from a joint venture power plant project in Southern California and a power plant construction project in the mid-Atlantic region that began late in the third quarter of 2016.  Acquisitions completed subsequent to the third quarter of 2016 contributed $6.8 million to the increase.  Segment gross profit increased by $7.9 million in the third quarter of 2017, compared to the same period in 2016.  The increase is primarily due to the increased revenues from the power plant projects and acquisitions, slightly offset by decreased revenue from a petrochemical plant that achieved substantial completion in the second quarter of 2017.  Gross profit as a percentage of revenues increased to 12.2% in the third quarter of 2017, compared to 10.7% in the same period in 2016.

Pipeline & Underground Segment:  Revenue in the Pipeline segment decreased by $21.7 million in the third quarter of 2017, compared to the same period in 2016.  The third quarter of 2016 results included revenues of $27.5 million and gross profit of $26.7 million from the collection of disputed receivables; the following discussion excludes the collection revenue and gross profit.  Revenue in the Pipeline segment increased by $5.8 million in the third quarter of 2017, compared to the same period in 2016.  The increased revenues were primarily attributable to increased work at our Texas-based pipeline group and the Coastal acquisition that was completed in the second quarter of 2017.  Segment gross profit in the Pipeline segment increased by $6.4 million, primarily as the result of the increased revenues.  Gross profit as a percentage of revenues increased to 14.3% in the third quarter of 2017, compared to 7.3% in the same period in 2016.

Utilities & Distribution Segment:   Revenue in the Utilities segment increased by $59.5 million in the third quarter of 2017, compared to the same period in 2016.  Approximately half of the increase came from increased revenue with California utilities, with increased revenues with Midwest utility customers and the second quarter 2017 acquisition of Florida Gas Contractors (now operating as Primoris Distribution Services) accounting for the remainder.  Segment gross profit increased by $2.2 million in the third quarter of 2017, compared to the same period in 2016, primarily as the result of the increased revenues.  Gross profit as a percentage of revenues decreased to 14.6% in the third quarter of 2017, compared to 18.1% in the same period in 2016.

Civil Segment:   Revenue in the Civil segment increased by $10.3 million in the third quarter 2017, compared to the same period in 2016.  The increased revenue primarily came from Texas DOT projects and a methanol plant project that began in 2017.  Segment gross profit increased by $30.5 million in the third quarter of 2017, compared to the same period in 2016.  The third quarter of 2016 included a $37.3 million write-down related to Belton, TX area I-35 highway projects.  Excluding the 2016 write-down, segment gross profit decreased by $6.8 million in the third quarter of 2017, compared to the same period in 2016.  The decrease resulted from the impact of both the hurricanes in Texas and the Gulf Coast and increased expected cost for highway jobs in Louisiana and Arkansas.  Gross profit as a percentage of revenues decreased to 2.8% in the third quarter of 2017, compared to 9.0% in the same period in 2016, excluding the impact of the I-35 projects.

OUTLOOK

Based on an expected second quarter 2018 start date for a major pipeline project in backlog, anticipated levels of customer maintenance, MSA spending, and new project awards, and given the continued uncertainty caused by the energy markets, the Company estimates that for the four quarters ending September 30, 2018, net income attributable to Primoris will be between $1.05 and $1.25 per fully diluted share.

BACKLOG

At September 30, 2017, Fixed Backlog was $2.0 billion, compared to $2.1 billion at December 31, 2016.

At September 30, 2017, MSA Backlog was $641 million, compared to $672 million at December 31, 2016.  MSA Backlog represents estimated MSA revenues for the next four quarters.

Total Backlog at September 30, 2017 was $2.6 billion, compared to $2.8 billion at December 31, 2016. 

Backlog, including estimated MSA revenues, should not be considered a comprehensive indicator of future revenues.  Revenue from certain projects, such as cost reimbursable and time-and-materials projects, do not flow through backlog.  At any time, any project may be cancelled at the convenience of our customers.

CONFERENCE CALL

David King, President and Chief Executive Officer, and Peter J. Moerbeek, Executive Vice President and Chief Financial Officer will host a conference call tomorrow, Tuesday, November 7, 2017 at 10:00 am Eastern Time / 9:00 am Central Time to discuss the results. 

Interested parties may participate in the call by dialing:  

If you are unable to participate in the live call, a replay may be accessed by dialing (877) 660-6853, conference ID 13672829, and will be available for approximately two weeks. The conference call will also be broadcast live over the Internet and can be accessed and replayed through the Investor Relations section of Primoris' website at www.prim.com. Once at the Investor Relations section, please click on "Events & Presentations”.

ABOUT PRIMORIS

Founded in 1960, Primoris, through various subsidiaries, has grown to become one of the largest construction service enterprises in the United States. Serving diverse end markets, Primoris provides a wide range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to major public utilities, petrochemical companies, energy companies, municipalities, and other customers. The Company's national footprint extends from Florida, along the Gulf Coast, through California, into the Pacific Northwest and Canada. For additional information, please visit www.prim.com.

FORWARD LOOKING STATEMENTS

This press release contains certain forward-looking statements, including with regard to the Company’s future performance. Words such as "estimated," "believes," "expects," "projects," “may,” and "future" or similar expressions are intended to identify forward-looking statements.  Forward-looking statements inherently involve known and unknown risks, uncertainties, and other factors, including without limitation, those described in this press release and those detailed in the "Risk Factors" section and other portions of our Annual Report on Form 10-K for the period ended December 31, 2016, and other filings with the Securities and Exchange Commission.  Given these uncertainties, you should not place undue reliance on forward-looking statements.  Primoris does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

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CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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