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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, 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.
NV5 Global, Inc. (Nasdaq: NVEE) has announced its 2024 Investor Day, titled 'The Nexus of Engineering and Technology,' scheduled for Thursday, July 25, 2024, at 10:00 am Central Time. The event will be held at the Western Golf Association Headquarters in Glenview, IL, coinciding with the first round of the NV5 Invitational, a PGA TOUR Korn Ferry Tour event.
The Investor Day will showcase NV5's innovative technologies and tech-enabled solutions in key growth sectors, including data centers, geospatial data management, utility electrical distribution, clean energy, and resilient infrastructure. Executive Chairman Dickerson Wright will host the event, which will include a Q&A session and demonstrations of artificial intelligence applications in geospatial data analytics for in-person attendees.
Following the presentations, NV5 will host a meet and greet with its leadership team. In-person attendance requires advance registration, while a webcast will be available for remote participants.
NV5 Global has secured $10 million in contracts from the U.S. Geological Survey (USGS) for various geospatial projects. The awards include:
- $3 million for mineral deposit analysis in Western Texas
- $6 million for lidar collection and processing in Alaska
- $1 million for integrating elevation data into the 3D Hydrography Program
These projects support initiatives such as the Earth Mapping Resources Initiative (EMRI), forest resource management, coastal erosion monitoring, and community resilience efforts. NV5's Executive Chairman, Dickerson Wright, highlighted the growing importance of geospatial data in resource management, infrastructure reliability, national security, and economic stability.
NV5 Global, Inc. (Nasdaq: NVEE), a provider of technology, conformity assessment, and consulting solutions, has announced its upcoming second quarter 2024 financial results conference call. The event is scheduled for Wednesday, August 7, 2024, at 4:30 p.m. Eastern time, following the close of markets. NV5's Executive Chairman, Dickerson Wright, and Chief Financial Officer, Edward Codispoti, will host the call and conduct a question and answer session.
Investors can access the call via a toll-free number or an international dial-in. The conference will also be webcast live through the 'Investors' section of NV5's website, where a replay will be available. Financial results and presentation slides will be posted on the site prior to the call.
NV5 Global, Inc. (Nasdaq: NVEE) has secured a $7 million contract for a one-year project in Northern California. The company will provide project oversight, testing, and inspection during the construction of a new 230 kilovolt underground transmission line. This follows NV5's earlier completion of the undergrounding design for the same line.
Dickerson Wright, PE, Executive Chairman of NV5, highlighted the growing demand for electricity and strain on grid infrastructure due to electrification initiatives and expansion of high-energy facilities. NV5's expertise in electrical grid reliability positions the company for accelerated organic growth in utility services.
The project involves collaboration with cable manufacturers and electrical contractors throughout the installation process. NV5 will also conduct cable testing and commissioning to ensure efficient deployment of the new line to meet interconnection and capacity demands.
NV5 Global (Nasdaq: NVEE) has secured $14 million in new contracts for utility geospatial asset and vegetation management. These contracts are aimed at improving the reliability and efficiency of aging electrical grid infrastructure, addressing increased electricity demand. A $7 million contract from a West Coast utility involves lidar and imagery services for asset management and engineering programs across diverse terrains. Another $7 million contract focuses on geospatial asset management and inspection services, identifying potential fire risks and enhancing service reliability. The company’s advanced technologies and methodologies facilitate organic growth in its utility geospatial segment.
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