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NV5 Global, Inc. (NASDAQ: NVEE) is a leading provider of technology, conformity assessment, and consulting solutions, serving both public and private sector clients. Headquartered in Hollywood, Florida, NV5 operates over 100 offices across the United States and internationally. The company focuses on several key verticals: utility services, infrastructure engineering, construction quality assurance, buildings & technology, environmental health sciences, and geospatial services.
NV5's comprehensive suite of services includes construction inspection, office engineering, claims resolution, and constructability support for major infrastructure projects. Notably, the company has a long-standing relationship with Caltrans, providing ongoing services across multiple districts in California. Recent contracts highlight NV5's role in improving transportation infrastructure and supporting community mobility.
With a history spanning over 60 years, NV5 has built a reputation for delivering high-quality, innovative solutions tailored to client needs. Their clientele ranges from U.S. federal, state, and local governments to private sector entities, emphasizing the company's versatility and reliability in addressing diverse challenges.
NV5's recent acquisitions, such as GIS Solutions and ASG Engineering Consultants, have significantly bolstered their capabilities in geospatial technology and structural engineering. These strategic moves enhance NV5's ability to offer comprehensive design solutions and manage large-scale projects in high-growth regions like the Middle East and Asia Pacific.
Financially, NV5 exhibits robust growth, driven by an aggressive acquisition strategy and a focus on tech-enabled services that offer higher margins and scalability. The company continues to pursue opportunities in geospatial and other technology-driven sectors to expand its market footprint and deliver sustainable solutions to complex problems.
For more information, visit the company's website at www.NV5.com or follow them on LinkedIn, Twitter, Facebook, and Vimeo.
NV5 has secured $14 million in multi-year infrastructure consulting contracts across Southern California. The company will provide not-at-risk construction management services for transportation infrastructure improvements in a major Southern California county under a five-year contract. Additionally, two Los Angeles County municipalities have selected NV5 for engineering, water resources, and construction management services. These projects aim to enhance traffic capacity, safety, and sustainable water management practices while supporting long-term development needs.
NV5 has secured $46 million in contracts to support electrical grid hardening and fire mitigation efforts in the Western United States. The company will provide engineering design, surveying, construction quality assurance, and downed pole monitoring services. The contracts include $38 million for strategic undergrounding of electrical transmission and distribution power lines, and $8 million for grid hardening projects. These initiatives aim to mitigate wildfire risks, reduce accidents, and enhance electrical service reliability.
NV5 Global (NVEE) reported record preliminary unaudited Q3 2024 results with gross revenues growing 6% to $250.9 million and net income increasing 31% to $17.1 million. The company achieved significant improvements in profitability metrics, with gross margin expanding 350 basis points to 51.6% and Adjusted EBITDA margin rising to 17.7%. Cash flows from operations surged 145% to $48.9 million. The company updated its full-year 2024 guidance, projecting gross revenues between $939-943 million. However, NV5 identified revenue misstatements from prior periods related to an acquisition and plans to file a Form 12b-25 extension for its Q3 2024 10-Q filing.
NV5 Global has secured a $7 million contract to lead the engineering design and construction management for the Lake Havasu City Second Bridge and Roadway Project in Arizona. The three-year infrastructure project will create a second connection from the mainland to Lake Havasu Island, which currently has only one access point via the historic London Bridge. The new bridge aims to reduce traffic congestion, support economic development, and improve emergency vehicle access while facilitating population growth in Lake Havasu City.
NV5 Global has secured $14 million in contracts for global data center infrastructure development. The company will focus on enhancing scalability and efficiency in both new construction and retrofitting existing data centers to handle AI-driven workload demands. NV5 has exceeded one gigawatt in data center MEP design and CFD analysis globally through September 2024. Through their services, NV5 has helped clients unlock approximately 300MW of additional computing capacity in 2024, equivalent to powering 100,000 homes.
NV5 Global (Nasdaq: NVEE) has rescheduled its third quarter 2024 financial results announcement and conference call from October 30th to Thursday, November 7, 2024. The delay is to allow additional time for quarter-end reporting processes. The earnings release will follow market close, with a conference call at 4:30 p.m. Eastern time. Executive Chairman Dickerson Wright and CFO Edward Codispoti will host the call, which will include a Q&A session. The event will be accessible via phone and webcast through the company's investor relations website.
NV5 Global, Inc. (Nasdaq: NVEE) has secured $26 million in geospatial contracts from leading electric and gas utilities. These projects, set to be completed within 12 months, will cover approximately 80,000 miles of energy distribution. NV5 will employ its advanced AI data solutions and proprietary geospatial data collection platforms to support utility infrastructure improvements, asset management, and vegetation management.
The contracts include:
- A project for 60,000 miles of electrical distribution assets in the Eastern United States
- Contracts in California for 16,000 miles of electric and gas infrastructure
- A project in Texas covering 3,500 miles of electrical transmission and distribution assets
These initiatives aim to enhance utility grid efficiency, reliability, and safety while strengthening NV5's position in the geospatial segment.
NV5 Global, Inc. (Nasdaq: NVEE) has announced the acquisition of two domestic data center commissioning and energy management companies, Kisebach Consulting and Senergy BCS. This strategic move aims to accelerate NV5's strong organic growth in the data center market, particularly in meeting the growing demand for artificial intelligence (AI) data center capacity, cooling, and energy efficiency.
Senergy BCS, founded in 2003 and based in Salt Lake City, Utah, specializes in HVAC and controls commissioning for large-scale data centers. Kisebach Consulting, headquartered in Olympia, Washington, focuses on energy engineering and mission critical building systems commissioning since 2015. Both companies bring valuable expertise and client relationships that are expected to contribute immediately to NV5's data center organic growth.
NV5 Global, Inc. (Nasdaq: NVEE), a provider of technology, certification, and consulting solutions, has announced its plans to release third quarter 2024 financial results on Wednesday, October 30, 2024, after market close. The company will host an earnings conference call at 4:30 p.m. Eastern time on the same day.
The call will be led by NV5 Executive Chairman, Dickerson Wright, and Chief Financial Officer, Edward Codispoti, followed by a question and answer session. Investors can join via phone or webcast, with dial-in numbers provided for both domestic and international participants. The webcast and accompanying presentation slides will be available through the 'Investors' section of the NV5 website.
NV5 Global, Inc. (Nasdaq: NVEE) has announced a 4-for-1 stock split to enhance stock ownership accessibility for employees and increase liquidity in public trading. The split, approved by NV5's Board of Directors, will increase the number of outstanding common shares to approximately 65.1 million. This strategic move aims to support NV5's employee recruitment and retention efforts, as well as its mergers and acquisitions strategy.
Shareholders of record as of market close on October 9, 2024, will receive three additional shares for every one share held after market close on October 10, 2024. NV5's shares are expected to begin trading on a post-split basis on the Nasdaq Global Select Market at market open on October 11, 2024. The company believes this split will make stock ownership more attainable for existing and new employees, while also providing opportunities for new investors and allowing traditional investors to expand their positions.
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