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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 Global (NVEE) reported strong Q4 and full-year 2024 results, with a 10% increase in gross revenues to $941.3 million and a 13% rise in gross profit to $483.2 million for FY2024. Q4 2024 gross revenues grew 15% to $246.5 million, while gross profit increased 13% to $122.2 million.
Net income for FY2024 was $28.0 million ($0.44 per share), down from $43.7 million ($0.71 per share) in 2023, impacted by increased amortization, interest, and acquisition-related costs. The company completed strategic acquisitions in data center commissioning, fire protection consulting, building digitization, and water resources.
For FY2025 guidance, NV5 expects gross revenues between $1.026-1.045 billion, GAAP EPS of $0.52-0.62, and Adjusted EPS of $1.27-1.37. The company implemented a 4-for-1 stock split effective October 11, 2024.
NV5 Global (Nasdaq: NVEE) has secured $5 million in substation design contracts from Northeast utilities to enhance electrical grid reliability in New York and New Jersey. The projects will focus on expanding existing substation capacity and connecting to underground electrical distribution.
The contract awards represent continued growth in NV5's relationship with Northeast electric utilities and support double-digit organic growth in the Northeast utility sector. Following the design phase, NV5 anticipates opportunities for additional service cross-selling. The company has expanded its utility design capacity along the East Coast, offering services including planning, engineering design, surveying, geospatial, and owner representation.
NV5 has announced the public release of lidar-derived data for the Palisades Fire and Eaton Fire burn areas, in collaboration with the U.S. Geological Survey (USGS). The data, collected between January 21-22, 2025, was sponsored by ALERTCalifornia and is now freely accessible through the USGS's 2025 Post-Wildfire Lidar Data platform for Los Angeles.
The high-resolution data enables analysis of fire impact, damage assessment, and understanding of fire debris hazards. By comparing it with previous lidar data collected by NV5 in 2023 and 2024, experts can measure changes in terrain, vegetation density, and burn severity. This information is important for identifying risks of debris flows, flooding, and guiding restoration efforts.
The project supports the USGS's 3D Elevation Program partnership with the Los Angeles Region Imagery Acquisition Consortium Program, providing essential data for public safety, first responders, government planners, utilities, and builders to make informed decisions during recovery operations.
NV5 Global (Nasdaq: NVEE) has scheduled its fourth quarter and full year 2024 financial results announcement for Thursday, February 20, 2025, after market close. The company will host an earnings conference call at 4:30 p.m. Eastern time on the same day.
The conference call will feature presentations from Executive Chairman Dickerson Wright, CEO Ben Heraud, and CFO Edward Codispoti, along with operational reports from segment leaders. The event will conclude with a Q&A session.
Participants can join via toll-free number (+1 800-715-9871), international dial-in (+1 646-307-1963), or webcast through the company's investor relations website. The conference ID is 2719957. Attendees are advised to join ten minutes early to avoid connection delays. Financial results and presentation slides will be available on NV5's website.
NV5 has secured a significant $4 million contract from Toitū Te Whenua Land Information New Zealand (LINZ) to provide geospatial hydrographic data for approximately 20% of New Zealand's coastline. The project, representing NV5's largest international geospatial contract to date, involves creating detailed 3D maps of 4,780 square kilometers of coast and sea floor using specialized topobathymetric lidar and 4-band imagery.
The 3D Coastal Mapping program aims to assess coastal impacts from sea-level rise and natural hazards. This project mirrors NV5's recurring geospatial analyses for U.S. Federal and state governments, focusing on coastal resilience and infrastructure impacts. The company's international geospatial growth initiative has already expanded to Europe, Asia, Latin America, the Caribbean, and Asia Pacific regions, leveraging their proprietary algorithms and analytical capabilities through their U.S. and India-based operations.
NV5 has announced an agreement to acquire Group Delta, a Southern California-based provider of infrastructure engineering, testing, and environmental PFAS services. Group Delta, headquartered in Irvine, employs 100 people across five consulting and testing laboratories in Los Angeles, Orange, and San Diego counties. The company specializes in geotechnical engineering, materials testing, special inspections, forensics engineering, and environmental PFAS compliance consulting.
The acquisition strengthens NV5's infrastructure engineering, conformity assessment, and utility fire hardening capabilities in Southern California, where the state has committed to investing $180 billion in infrastructure improvements. This strategic move positions NV5 to better support city, county, state, and utility clients throughout the region, particularly in electrical, water, and transportation infrastructure projects.
NV5, a provider of technology, certification, and consulting solutions, announced a new revenue goal of $1.6 billion by 2028. Entering 2025 with a budget exceeding $1 billion in gross revenues, NV5 aims to leverage its strong track record and industry-leading profitability to achieve this target.
Executive Chairman Dickerson Wright emphasized the company's history of meeting ambitious growth targets and its focus on tech-enabled engineering solutions. The company plans to capitalize on technology services and high-margin offerings to drive accelerated organic growth and profitability.
CEO Ben Heraud highlighted that the $1.6 billion revenue target will be driven by organic growth of existing capabilities and investments in strategic acquisitions in tech-based solutions and high-growth sectors. NV5's growth strategy includes delivering unique value to clients through technical excellence, cross-selling initiatives, and technological innovations.
NV5 announced key executive leadership changes, with founder Dickerson Wright transitioning to Executive Chairman in March 2024, focusing on strategic growth initiatives and M&A activities. Ben Heraud, who joined NV5 in 2017 through the Energenz acquisition, has been appointed as CEO, responsible for company operations. Heraud previously served as COO of NV5's Buildings & Technology group since 2020.
The new organizational structure includes Alex Hockman, CEO of Infrastructure, and Kurt Allen, President of NV5's Geospatial business, both reporting to Heraud. Hockman, a Professional Geotechnical Engineer with 40+ years of experience, has been with NV5 since its founding. Allen, who joined in 2019 through the Quantum Spatial acquisition, brings 30+ years of geospatial and GIS expertise.
NV5, a provider of technology, certification, and consulting solutions, announced its plan to repurchase up to $20 million of common stock during the next open trading period. This buyback is part of a previously approved $100 million stock repurchase program by the NV5 Board of Directors.
Dickerson Wright, PE, Executive Chairman of NV5, stated that the repurchase demonstrates NV5's strong financial position and expectations of accelerated organic growth and profitability. The current stock valuation presents a unique opportunity for NV5 to utilize excess cash flows for the buyback.
NV5 also has a robust mergers and acquisitions pipeline, anticipated to contribute to its growth alongside organic growth. The repurchase will commence following the announcement of NV5’s 2024 fourth quarter and full-year financial results, with the number of shares repurchased depending on several factors, including share price.
NV5 has secured a $5 million, five-year contract from the Georgia Department of Transportation (GDOT) to lead the Watkinsville Bypass project in Oconee County, Georgia. The project aims to connect SR 24 and SR 15, improving connectivity and traffic flow by rerouting trucks away from downtown Watkinsville. NV5 will provide comprehensive services including geomatics, environmental studies, roadway and bridge design, hydraulic analysis, traffic engineering, and right-of-way services. The bypass project emerged from a 2021 transportation study and is expected to contribute to regional development and transportation efficiency.
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