NV5 Awarded $14 Million in Southern California Municipal Infrastructure Contracts
Rhea-AI Summary
NV5 has secured $14 million in multi-year infrastructure consulting contracts across Southern California. The company will provide not-at-risk construction management services for transportation infrastructure improvements in a major Southern California county under a five-year contract. Additionally, two Los Angeles County municipalities have selected NV5 for engineering, water resources, and construction management services. These projects aim to enhance traffic capacity, safety, and sustainable water management practices while supporting long-term development needs.
Positive
- Secured new contracts worth $14 million in Southern California
- Multi-year agreements providing stable revenue stream
- Geographic expansion in key California market
- Diversification of services across transportation and water infrastructure
Negative
- None.
News Market Reaction – NVEE
On the day this news was published, NVEE gained 0.05%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
HOLLYWOOD, Fla., Nov. 21, 2024 (GLOBE NEWSWIRE) -- NV5, a provider of technology, certification, and consulting solutions, announced today that it has been awarded
NV5 was selected by a large Southern California county to deliver comprehensive not-at-risk construction management services to oversee transportation infrastructure improvements. The five-year contract will focus on transportation capital improvement and maintenance projects to increase traffic capacity and safety through construction management, quality assurance and control, and plan review services.
Two Los Angeles County municipalities also selected NV5 for engineering, water resources, and not-at-risk construction management services. These agreements will oversee effective project execution, address the region’s unique infrastructure needs, support sustainable water management practices, and enhance long-term development.
“Design and maintenance of critical infrastructure to withstand future capacity and environmental requirements is essential for supporting the growth of resilient communities,” said Alex Hockman, PE, CEO of Infrastructure at NV5. “These contracts demonstrate NV5’s leadership position in delivering innovative and sustainable solutions to meet the growing demands placed on municipal infrastructure.”
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, certification, 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 abroad. 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
Source: NV5 Global, Inc.
FAQ
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