Welcome to our dedicated page for Nv5 Global news (Ticker: NVEE), a resource for investors and traders seeking the latest updates and insights on Nv5 Global stock.
This page provides historical news coverage for NV5 Global, Inc. (formerly traded on Nasdaq under the symbol NVEE), a company that public disclosures describe as a provider of tech-enabled engineering, testing, inspection, certification, and consulting solutions for the built environment. The news items here document NV5’s activities before and around its merger with Acuren Corporation.
According to recent press releases, NV5 focused on engineering design, asset management, and geospatial data analytics to support infrastructure resilience and building systems performance. News articles highlight awards from the National Oceanic and Atmospheric Administration (NOAA) for shoreline mapping and coastal resilience, contracts with the New York City Department of Parks and Recreation for park and recreation facility improvements, and engineering work on high-voltage substations serving data center facilities in U.S. markets.
Other coverage includes NV5’s expansion in the data center sector, including activities in South Korea and other international regions, and acquisitions such as Professional Systems Engineering, LLC, which added specialized technology design capabilities for high-security public sector facilities. These stories illustrate how NV5 combined engineering, geospatial, and technology services across infrastructure, public sector, and data center markets.
Later news and SEC-related announcements track the progression and completion of NV5’s merger with Acuren Corporation, including stockholder approvals, the effectiveness of the merger registration statement, and the closing of the transaction. Together, these articles offer investors and researchers a record of NV5’s strategic direction, project wins, and corporate transformation leading up to the delisting of NVEE from Nasdaq and the company’s integration into Acuren.
NV5 Global, Inc. (Nasdaq: NVEE) reported strong financial results for Q3 2021, achieving record revenues of $185.6 million, up 9% from Q3 2020. Net income surged 62% to $12.6 million, while adjusted EBITDA rose 16% to $34.7 million. The company highlighted a 13% increase in backlog and continued growth in utility and ESG services, bolstered by the acquisition of Sage Renewable Energy Consulting. NV5 updated its full-year guidance, raising GAAP EPS to between $2.60 and $2.91 and adjusted EPS to a range of $4.36 to $4.62.
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.
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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.
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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.