Nv5 Global Inc Stock Price, News & Analysis

NV5 Global, Inc. (NASDAQ: NVEE) announced contracts worth $3 million with the Hong Kong Urban Renewal Authority and a major data center operator. The Hong Kong Urban Renewal Authority awarded NV5 a three-year, $2 million contract for inspection and engineering services to upgrade 700 elevators in Kowloon to meet safety regulations. Additionally, NV5 received a $1 million contract for mechanical and electrical design services for a 20-megawatt hyperscale data center, expected to complete in 2022. These contracts highlight NV5's growth in the international market.

NV5 Global, Inc. (Nasdaq: NVEE) has secured a two-year, $4 million contract with the North Carolina Department of Transportation (NCDOT). This contract entails aiding in the development of transportation infrastructure, reviewing project plans, and producing technical reports for the NCDOT's Western Region. NV5 will also provide general engineering services as a consultant for other firms. The company's long-standing partnership with NCDOT spans over 25 years, specializing in safe transportation design and inspection.

NV5 Global, Inc. (NASDAQ: NVEE) will announce its Q3 financial results on November 9, 2021, after market close. An earnings conference call is scheduled for 4:30 p.m. Eastern that same day, hosted by Chairman and CEO Dickerson Wright and CFO Edward Codispoti. Participants can join via phone or webcast. The press release will provide details on financial performance and strategies across NV5's business verticals, including compliance and environmental consulting, focusing on infrastructure and utility services.

Nev5 Global, Inc. (NASDAQ: NVEE) has appointed Dr. Denise Dickins as an Independent Director to its Board of Directors, filling the vacancy left by Michael Renshaw's resignation. Dr. Dickins, a Professor of Accounting and Auditing at East Carolina University, brings extensive financial and governance experience from her positions on various publicly traded company boards. Her credentials include a Ph.D. in Business Administration and certifications as a CPA and CIA. The company aims to enhance its governance and strategic direction with this appointment.

NV5 Global, Inc. (Nasdaq: NVEE) has acquired Sage Renewable Energy Consulting, enhancing its environmental and social governance (ESG) services. The deal, involving cash and stock, is expected to be immediately accretive to earnings. Sage, founded in 2009, has managed over $2 billion in clean energy projects, bolstering NV5's capabilities in sustainable energy planning, electric vehicle infrastructure, and asset management. This acquisition positions NV5 to capitalize on the growing clean energy market and expand its service offerings to clients nationwide.

NV5 Global reported record financial performance for Q2 2021, achieving a 10% increase in gross revenues to $179.5 million and a 203% surge in net income to $13.6 million.

Adjusted EBITDA rose 27% to $34.2 million, while GAAP EPS increased 153% to $0.91 per share. The company raised its full-year guidance for gross revenues to $705 million - $727 million and for GAAP EPS to $2.45 - $2.84 per share, citing growth driven by public sector investments and the acquisition of PES Environmental.

NV5 Global, Inc. (Nasdaq: NVEE) has secured a $16 million contract for the upgrade of liquefaction infrastructure at a Northeast utility's LNG facility. This project includes engineering and procurement services aimed at enhancing the facility's ability to store liquefied natural gas for peak demand periods. Previously awarded engineering design services, this multi-phase project is set for completion in July 2022. The company highlights growing utility support as a key vertical, citing increasing demand for efficient power solutions.