Nv5 Global Inc Stock Price, News & Analysis

NV5 Global, Inc. (NASDAQ: NVEE) announced it has secured $16 million in utility gas pipeline design and support services contracts with two major California gas utilities. The company will provide engineering design, permitting support, and municipal consulting services aimed at enhancing asset integrity management and pipeline safety.

One contract, valued at $9 million, focuses on gas transmission design and pipeline support services for system integrity management. The second contract, totaling $7 million, involves municipal consulting and emergency services related to gas repairs. These projects reflect NV5's expertise in managing complex infrastructure requirements amidst stringent safety regulations.

NV5 Global, Inc. (Nasdaq: NVEE) will release its financial results for Q1 2023 on May 4, 2023, after market close. The Company's CEO Dickerson Wright and CFO Edward Codispoti will host an earnings call at 4:30 p.m. Eastern Time, which will also include a Q&A session. Investors can join by dialing +1 (888) 412-4117 for domestic calls or +1 (646) 960-0284 internationally. The call will be webcast live and available for replay on the NV5 website. NV5 specializes in technology, conformity assessment, and consulting solutions across several sectors, including utility services and infrastructure engineering. The Company operates over 100 offices worldwide, emphasizing its extensive reach and capability in the market.

L3Harris Technologies (NYSE:LHX) has finalized the sale of its Visual Information Solutions (VIS) business to NV5 Global Inc. (NASDAQ: NVEE). The VIS division specializes in commercial geospatial software and services that transform geospatial and terrestrial imagery into actionable insights. This divestiture aligns with L3Harris’ strategic goal of optimizing its portfolio and focusing on long-term investments that support national security and multi-domain solutions.

NV5 Global, Inc. (NVEE) has successfully completed the acquisition of L3Harris Technologies' Visual Information Solutions (VIS) commercial geospatial technology and software business. This acquisition, announced in December and receiving regulatory approvals, positions NV5 as a leading provider in North America for geospatial data solutions. The VIS acquisition includes 16 U.S. patents and 13 trademark registrations for geospatial software applications, utilized by approximately 500,000 global users, including key defense and civilian agencies. The acquisition bolsters NV5's subscription-based geospatial offerings and reinforces its competitive advantage in the market.

NV5 Global, Inc. (Nasdaq: NVEE) announced it has secured $11 million in contracts for utility and transportation infrastructure projects in California and New Mexico. The contracts include approximately $5 million for surveying services from a major California utility, aimed at enhancing electrical service reliability during infrastructure improvements. Additionally, NV5 received a $3 million contract from New Mexico's Department of Transportation for engineering design for State Road 68 improvements, focusing on full roadway renovations and safety compliance. A further $3 million contract with San Diego's Development Services will support building inspection and permit processing.