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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 (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.
NV5 Global, Inc. (Nasdaq: NVEE) has been awarded a prime contract with the National Geospatial-Intelligence Agency (NGA) under the Luno A program. The $290 million contract is a five-year, multiple-award indefinite delivery, indefinite quantity agreement to provide unclassified commercial geospatial intelligence (GEOINT)-derived computer vision and analytic services.
The contract aims to monitor global economic and environmental activity, as well as military capabilities, leveraging commercial computer vision and artificial intelligence capabilities. It will integrate into analytic workflows for the national security community's operational use. NV5 anticipates receiving approximately $30 million in revenue over the contract term.
Dickerson Wright, PE, Executive Chairman of NV5, expressed pleasure in being selected to support the national intelligence community through GEOINT-derived analytics, highlighting NV5's 20-year history of supporting NGA's mission.
NV5 Global, Inc. (Nasdaq: NVEE) has announced a definitive agreement to acquire Weston Solutions' California Water Resources Group. This cash transaction, expected to be immediately accretive to NV5's earnings, will strengthen the company's water infrastructure design and hydrospatial businesses. The acquisition targets a group of approximately 20 employees based in Carlsbad, CA, specializing in mandated environmental regulatory compliance services for ports, waterways, watersheds, and aquatic environments.
The deal is set to expand NV5's water resources capabilities and provide access to new clients and contracting opportunities. NV5 anticipates recognizing revenue from this acquisition by the late third quarter of 2024. This strategic move aligns with the growing demand for compliance services in the water industry, driven by infrastructure expansion and stringent regulatory requirements.
NV5 Global, Inc. (Nasdaq GS: NVEE) reported strong Q2 2024 results and raised its full-year guidance. Gross revenues grew 6% to $236.3 million, with gross profit increasing 12% to $123.3 million. The company's gross margin expanded by 270 basis points to 52.2%. Adjusted EBITDA rose 10% to $38.5 million, with the margin expanding to 16.3%. However, net income and GAAP EPS decreased due to integration costs and higher interest expenses.
NV5 raised its 2024 full-year guidance, projecting gross revenue between $944 million and $950 million, and Adjusted EPS between $5.13 and $5.20 per share. The company's strong performance is attributed to its leadership in technology-driven services, including geospatial analytics and software applications.
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 has secured a $5 million contract from NOAA to conduct a comprehensive hydrographic survey in Lake Michigan. The project covers a 450 square nautical mile zone from Northeast Chicago, IL to Michigan City, IN, a important route for maritime traffic and entry to the Mississippi River.
The survey aims to provide updated data for National Ocean Service nautical charts, enhancing maritime safety and supporting water resource management. This contract aligns with NV5's strategic expansion of its geospatial marine surveying business into new geographies.
Dickerson Wright, Executive Chairman of NV5, emphasized the company's specialized expertise in hydrographic surveying and nautical charting as key factors in securing this project, which will contribute to both commercial and recreational maritime safety efforts.
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