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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 robust second quarter 2022 results, showing a 13% increase in gross revenues to $202.7 million compared to Q2 2021. Net income rose 27% to $17.3 million, while Adjusted EBITDA increased 10% to $37.8 million. The company also highlighted an 8% organic growth in the first half of the year. For full-year guidance, NV5 raised its gross revenues outlook to $795 million - $815 million and GAAP EPS to $3.90 - $4.29.
NV5 Global, Inc. (NASDAQ: NVEE) has secured multiple contracts enhancing park and educational facilities in New York City, totaling approximately $22 million. The agreements include two term contracts worth around $20 million for planning and design services for parks and a $2 million contract from the NYC School Construction Authority for improvements in public schools. NV5 aims to leverage its 40 years of experience in NYC to boost infrastructure, serving local residents and visitors.
Nev5 Global, Inc. (NASDAQ: NVEE) will announce its second-quarter financial results on August 4, 2022, after market close. The earnings conference call will take place at 4:30 p.m. Eastern time, led by Chairman and CEO Dickerson Wright and CFO Edward Codispoti, followed by a Q&A session. Participants can join via a toll-free number or internationally. A live webcast will also be available, along with a replay. NV5 provides technology, conformity assessment, and consulting solutions, focusing on various sectors, including utilities and infrastructure.
NV5 Global, Inc. (NASDAQ: NVEE) has secured a $7 million contract from the City of Oceanside, California, for consulting services related to a wastewater reclamation and recycling project. This initiative aims to decommission the La Salina Water Treatment Plant and enhance water conservation through recycled water production. NV5's responsibilities include program management, inspections, and environmental compliance over a three-year timeline, concluding in December 2025. This project highlights NV5's commitment to sustainable infrastructure and its long-standing relationship with Oceanside.
NV5 Global, Inc. (NASDAQ: NVEE) recently announced $5 million in new contracts for environmental consulting services. This includes two contracts worth approximately $3 million from a Southern California school district, focusing on asbestos and lead consulting and environmental assessments. Additionally, a five-year, $1 million contract was awarded by the New Mexico Department of Game and Fish for cultural and natural resources consulting. A national grocery retailer also selected NV5 for a $1 million environmental site assessment contract.
NV5 Global, Inc. (NASDAQ: NVEE) announced the acquisition of GEO1 through an asset purchase of Aerial Filmworks, LLC, enhancing its geospatial solutions. GEO1 specializes in geospatial lidar, aerial imagery, and data analytics, serving utility and government clients. This acquisition, which adds 25 employees from GEO1, is expected to be immediately accretive to NV5's earnings and strengthens its existing relationships with utility clients. The collaboration is anticipated to enhance NV5's capabilities in utility asset inspection and wildfire risk mitigation.
NV5 Global, Inc. (Nasdaq: NVEE) has secured a $25 million contract for the engineering, procurement, and installation of a new LNG vaporization system for a Northeast utility. The project aims to enhance storage capacity and reliability and will be completed by Q4 2023, with the design phase currently underway. CEO Dickerson Wright emphasized the importance of utility safety and reliability in driving NV5's business, anticipating continued investments as utilities modernize infrastructure.
On May 25, 2022, NV5 Global (Nasdaq: NVEE) announced an upcoming Investor Day scheduled for May 26, 2022, at 10:00 AM Central Time. Hosted by Chairman and CEO Dickerson Wright and CFO Edward Codispoti, the event aims to present NV5's strategic plan for growth and enhanced margins. Attendees will experience demonstrations of NV5's high-margin services, including geospatial, data analytics, and energy efficiency. In-person registration is required, and the event will also be webcast live.
NV5 Global (Nasdaq: NVEE) has secured $8 million in contracts for geospatial data acquisition and analytics to aid public sector clients in infrastructure, utilities, and natural resource management. This includes over $4 million for the US Geological Survey's 3D Elevation Program in Kentucky and Wisconsin, a $2 million task order from the US Army Corps of Engineers, and another $2 million contract for a federally owned electric utility's right-of-way program. The company emphasizes the growth of tech-based services in its revenue stream.
NV5 Global reported a record first quarter for 2022, achieving gross revenues of $190.2 million, a 24% increase year-over-year. Net income rose to $8.6 million, a 58% increase, while Adjusted EBITDA reached $28.9 million, up by 19%. The company also increased its full-year guidance, projecting gross revenues between $785 million and $810 million. GAAP EPS improved to $0.57 per share, representing a 39% increase. NV5 enters the second quarter with a strong backlog, positioning for sustained growth.
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