Nv5 Global Inc Stock Price, News & Analysis

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.

Nv5 Global, Inc. (Nasdaq: NVEE) has secured $11 million in contracts with the New York City Department of Parks and Recreation. The major contract includes a $9 million agreement for civil and structural engineering design across city recreational facilities over three years. Additionally, NV5 will provide a $1.5 million contract for the Coney Island Boardwalk Pre-Design Study aimed at addressing deterioration and enhancing resiliency. This represents NV5’s first engineering design contract with the agency, expanding its existing services. The CEO expressed commitment to supporting NYC’s infrastructure and climate resilience efforts.

NV5 Global, Inc. (Nasdaq: NVEE) announced that its subsidiary, Axim Geospatial, has secured $9 million in national security geospatial contracts from intelligence agencies and the Department of Defense. These contracts involve integrating geospatial intelligence from various sources to enhance situational awareness for military and policymakers. Axim utilizes AI and machine learning for swift, precise mapping of topographical features. NV5's CEO emphasized Axim's leadership in geospatial data analytics as crucial for this contract, highlighting the company's commitment to support national security initiatives.

NV5 Global, Inc. (Nasdaq: NVEE) announced its acquisition of Gaudet Associates, Inc., a firm specializing in owner representation services in South Florida. This strategic move will enhance NV5's capabilities in the growing Florida market for construction and renovation oversight, particularly in the hospitality and government sectors. The acquisition, made through cash and stock, is expected to be accretive to earnings immediately. Gaudet Associates has a history of managing over $2 billion in projects, with 35 years of experience in the industry.

NV5 Global (Nasdaq: NVEE) reported a strong fiscal 2022, achieving gross revenues of $786.8 million, reflecting an 11% increase from $706.7 million in 2021. Net income rose by 6% to $50.0 million, while Adjusted EBITDA increased by 2% to $135.2 million. The company completed five strategic acquisitions, enhancing its service offerings in utility geospatial, building technology, and materials testing. For fiscal 2023, NV5 anticipates revenues between $878 million and $915 million and GAAP EPS ranging from $2.93 to $3.33, marking a positive outlook despite economic challenges posed by rising interest rates.

NV5 Global, Inc. (Nasdaq: NVEE) announced the acquisition of Axim Geospatial, enhancing its capabilities in federal defense and intelligence sectors. Axim, based in Wisconsin with 340 employees, offers advanced geospatial solutions and tools, expanding NV5’s strength in geospatial utility services. The acquisition supports NV5’s position as a leader in geospatial data solutions. Axim employs over 200 proprietary tools to deliver customized services across various sectors, including national security and infrastructure. This strategic move aims to accelerate both companies' missions to provide smarter and safer geospatial solutions.

NV5 Global has announced the acquisition of Diversified Consulting Solutions (DCS), enhancing its owner representation services in the Mountain West Region. This transaction combines cash and stock and is immediately accretive to earnings. DCS, based in Denver, specializes in comprehensive consulting for municipalities and educational sectors, managing projects from concept through completion. The CEO of NV5 expressed enthusiasm for growth in this high-margin service area, anticipating further expansion. With over 400 million dollars managed by DCS, this acquisition is expected to strengthen NV5’s service offerings and market presence.

NV5 Global, Inc. (Nasdaq: NVEE) has secured a $17 million contract to develop a comprehensive aerial photography and elevation database for Kentucky. This initiative, part of the KyFromAbove program, aims to enhance geospatial data access, thereby reducing GIS development costs and improving efficiency in state processes. Over a two-year period, NV5 will gather natural color and digital imagery to aid in resource management, land planning, and infrastructure development. The CEO emphasizes the growing demand for high-resolution geospatial services to support economic and resource management.