NV5 Awarded $10 Million in North Carolina Department of Transportation Infrastructure Contracts
NV5 Global, Inc. (Nasdaq: NVEE) has secured $10 million in contracts from the North Carolina Department of Transportation (NCDOT) to advance key infrastructure projects across the state. The contracts include:
1. A five-year, $4 million contract for the NCDOT Rail Division's Raleigh to Richmond (R2R) Roadway Design project, partially funded by a Federal Railroad Administration grant.
2. A two-year, $4 million contract with the NCDOT Western Region for transportation infrastructure development and project plan reviews.
3. A two-year, $2 million contract to support the NCDOT Comprehensive Environmental Analysis Unit.
These contracts reflect NV5's 25-year relationship with NCDOT and the success of their DOT Growth Initiative launched in 2023.
NV5 Global, Inc. (Nasdaq: NVEE) ha ottenuto 10 milioni di dollari in contratti dal Dipartimento dei Trasporti della Carolina del Nord (NCDOT) per promuovere importanti progetti infrastrutturali nello stato. I contratti includono:
1. Un contratto di cinque anni del valore di 4 milioni di dollari per il progetto di design della strada Raleigh-Richmond (R2R) della Divisione Ferrovie del NCDOT, parzialmente finanziato da un grant dell'Amministrazione Federale Ferroviaria.
2. Un contratto biennale del valore di 4 milioni di dollari con la Regione Occidentale del NCDOT per lo sviluppo infrastrutturale dei trasporti e per le revisioni dei piani di progetto.
3. Un contratto biennale del valore di 2 milioni di dollari per supportare l'Unità di Analisi Ambientale Completa del NCDOT.
Questi contratti riflettono la relazione di 25 anni di NV5 con il NCDOT e il successo della loro Iniziativa di Crescita del DOT lanciata nel 2023.
NV5 Global, Inc. (Nasdaq: NVEE) ha obtenido 10 millones de dólares en contratos del Departamento de Transporte de Carolina del Norte (NCDOT) para avanzar en proyectos de infraestructura clave en el estado. Los contratos incluyen:
1. Un contrato de cinco años por 4 millones de dólares para el proyecto de diseño de la carretera Raleigh a Richmond (R2R) de la División de Ferrocarriles del NCDOT, financiado en parte por una subvención de la Administración Federal de Ferrocarriles.
2. Un contrato de dos años por 4 millones de dólares con la Región Occidental del NCDOT para el desarrollo de infraestructura de transporte y revisiones de planes de proyectos.
3. Un contrato de dos años por 2 millones de dólares para apoyar la Unidad de Análisis Ambiental Integral del NCDOT.
Estos contratos reflejan la relación de 25 años de NV5 con el NCDOT y el éxito de su Iniciativa de Crecimiento DOT lanzada en 2023.
NV5 Global, Inc. (Nasdaq: NVEE)는 노스캐롤라이나 교통부(NCDOT)로부터 1천만 달러의 계약을 확보하여 주 전역의 주요 인프라 프로젝트를 추진하게 되었습니다. 계약에는 다음이 포함됩니다:
1. NCDOT 철도 부문의 롤리에서 리치먼드(R2R)까지 도로 설계 프로젝트를 위한 5년, 400만 달러의 계약, 연방 철도 관리국의 보조금으로 부분 자금을 지원받습니다.
2. NCDOT 서부 지역과의 2년, 400만 달러 계약으로 교통 인프라 개발 및 프로젝트 계획 검토를 지원합니다.
3. NCDOT 종합 환경 분석 유닛을 지원하기 위한 2년, 200만 달러의 계약.
이 계약들은 NV5와 NCDOT 간의 25년 관계를 반영하며, 2023년에 시작된 DOT 성장 이니셔티브의 성공을 보여줍니다.
NV5 Global, Inc. (Nasdaq: NVEE) a obtenu 10 millions de dollars en contrats du Département des Transports de Caroline du Nord (NCDOT) pour faire avancer des projets d'infrastructure clés dans l'État. Les contrats comprennent :
1. Un contrat de cinq ans d'une valeur de 4 millions de dollars pour le projet de conception routière Raleigh-Richmond (R2R) de la Division Ferroviaire du NCDOT, financé en partie par une subvention de l'Administration Fédérale des Chemins de Fer.
2. Un contrat de deux ans d'une valeur de 4 millions de dollars avec la Région Ouest du NCDOT pour le développement d'infrastructures de transport et la révision de plans de projets.
3. Un contrat de deux ans d'une valeur de 2 millions de dollars pour soutenir l'Unité d'Analyse Environnementale Complète du NCDOT.
Ces contrats reflètent la relation de 25 ans de NV5 avec le NCDOT et le succès de leur Initiative de Croissance DOT lancée en 2023.
NV5 Global, Inc. (Nasdaq: NVEE) hat 10 Millionen Dollar an Verträgen vom Verkehrsministerium von North Carolina (NCDOT) gesichert, um wichtige Infrastrukturprojekte im Bundesstaat voranzutreiben. Die Verträge beinhalten:
1. Einen fünfjährigen Vertrag über 4 Millionen Dollar für das Straßenplanungsprojekt Raleigh-Richmond (R2R) der NCDOT-Eisenbahndivision, das teilweise durch einen Zuschuss der Federal Railroad Administration finanziert wird.
2. Einen zwei Jahre laufenden Vertrag über 4 Millionen Dollar mit der westlichen Region des NCDOT für die Entwicklung der Verkehrsinfrastruktur und die Überprüfung von Projektplänen.
3. Einen zwei Jahre laufenden Vertrag über 2 Millionen Dollar, um die umfassende Umweltanalyseeinheit des NCDOT zu unterstützen.
Diese Verträge spiegeln die 25-jährige Beziehung von NV5 zum NCDOT und den Erfolg ihrer 2023 gestarteten DOT-Wachstumsinitiative wider.
- Secured $10 million in new contracts with NCDOT
- Expanded long-standing 25-year relationship with NCDOT
- Diversified project portfolio across rail, road, and environmental sectors
- Contracts span multiple years, providing stable revenue streams
- None.
NV5's new contracts totaling
From a financial perspective, these kinds of contracts are beneficial as they provide predictable income and improve cash flow stability. The five-year,
Additionally, the diversity and scope of these projects highlight the company's ability to handle complex, multi-faceted projects, which could lead to more high-value contracts in the future. Investors should also note the long-term benefits of maintaining strong relationships with government clients, as these often result in repeat business and can provide resilience during economic downturns.
NV5's contract wins with NCDOT are notable for several reasons. Firstly, the range of services covered – from engineering design to environmental analysis – demonstrates NV5's comprehensive capabilities, making them a versatile player in the infrastructure industry.
This diversification is strategic as it insulates the company from sector-specific downturns and positions it to capture a wide array of project types. Given that infrastructure development is a priority across various state and federal agendas, NV5's broad service offering could be a significant competitive advantage. The ongoing ‘DOT Growth Initiative’ further underscores the company’s commitment to this sector, aiming to leverage its highly qualified professionals to sustain and expand its market share.
Moreover, the longevity and value of these contracts, especially the five-year deal, suggest a sustained revenue flow, which can positively affect NV5's long-term financial health and stock price stability. Investors looking for long-term growth should find this reassuring, as it indicates potential for continued revenue generation and strong client retention, factors that can significantly influence the company's market position and valuation.
The contracts secured by NV5 also reflect the growing emphasis on and investment in environmental and historical preservation within infrastructure projects.
The two-year,
For investors, this contract signals NV5's proactive approach in addressing environmental sustainability, which is increasingly critical. As public and private sectors alike place more value on environmental responsibility, NV5's proven track record in this area could attract further contracts and partnerships, enhancing their market reputation and long-term growth prospects.
HOLLYWOOD, Fla., July 24, 2024 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of compliance, technology, engineering, and environmental consulting solutions, announced today that it has been awarded
“NV5’s DOT Growth Initiative was launched in 2023 to ensure that our most highly qualified engineers and technical professionals are in direct communication with our clients to provide unmatched technical expertise,” said Dickerson Wright, PE, Executive Chairman of NV5. “NV5 has supported NCDOT for over 25 years, and the continued expansion of our relationship with NCDOT is a direct result of our commitment to delivering high-quality solutions to support North Carolina’s transportation infrastructure.”
NV5 was awarded a five-year,
The NCDOT Western Region selected NV5 for a two-year,
NV5 was also awarded a two-year,
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, conformity assessment, and consulting solutions for public and private sector clients supporting utility, infrastructure, and building assets and systems. The Company primarily focuses on six business verticals: Utility services, infrastructure engineering, construction quality assurance, buildings & technology, environmental health sciences, and geospatial services. NV5 operates out of more than 100 offices nationwide and internationally. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.
Investor Relations Contact
NV5 Global, Inc.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: ir@nv5.com
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