Nv5 Global Inc Stock Price, News & Analysis

NV5 Global, Inc. (NASDAQ: NVEE) has been awarded a $23 million contract by a major Midwest utility for a liquefied natural gas (LNG) vaporization replacement project. The project aims to enhance the facility's output capacity by approximately 150%, addressing rising natural gas demand. NV5 will provide engineering, procurement, and construction services over a 20-month period, targeting completion by November 2022. This modernization initiative aligns with the company's ENERGY 2021 strategy.

NV5 Global (Nasdaq: NVEE) has successfully closed a public offering of 1,612,903 shares of common stock at $93.00 per share, raising approximately $141 million in net proceeds after underwriting costs. The underwriters also hold a 30-day option for an additional 241,935 shares. NV5 plans to use the funds for general corporate purposes, including potential acquisitions, business expansion, working capital, and debt reduction. BofA Securities and Morgan Stanley were among the joint book-running managers for this offering.

NV5 Global, Inc. (Nasdaq: NVEE) announced a public offering of 1,612,903 shares at $93.00 each, with an additional option for underwriters to purchase 241,935 shares. The offering aims to raise approximately $141 million after expenses, closing on March 15, 2021. Proceeds will support acquisitions, business expansion, working capital, and debt reduction. BofA Securities, Roth Capital Partners, Baird, and Morgan Stanley serve as joint book-running managers for this offering.

NV5 Global, Inc. (Nasdaq: NVEE) has announced a public offering of $150 million in common stock, with an additional $22.5 million available for underwriters. The proceeds will be utilized for general corporate purposes, including potential acquisitions, business expansion, and debt reduction. The offering is subject to market conditions. Major financial institutions including BofA Securities and Morgan Stanley are managing the offering. The shares will be registered with the SEC, ensuring compliance with legal requirements.

NV5 Global (Nasdaq: NVEE) announced a $6.6 million contract awarded to its division, Quantum Spatial, by a major energy utility. The contract focuses on providing geospatial analytics to enhance vegetation management and asset protection for critical electrical transmission infrastructure. NV5 will utilize lidar, imagery, and data analytics across six states, aiming to identify vegetation growth threats and support safe power delivery. This initiative aligns with recent weather challenges, emphasizing the importance of reliable energy services for clients.

NV5 Global (Nasdaq: NVEE) reported robust financial results for Q4 and FY 2020, showcasing a 30% revenue increase to $659.3 million, driven by acquisitions and operational efficiencies. Q4 gross revenue reached $161.2 million, a 22% rise year-over-year. Net income rose 28% to $4.6 million in Q4, while adjusted EBITDA surged 37% to $24.4 million. Despite increased interest and amortization expenses, adjusted EPS for Q4 improved by 28% to $0.82. NV5 anticipates continued growth in 2021, fueled by a focus on sustainable energy and a strong acquisition pipeline.

NV5 Global, Inc. (NASDAQ: NVEE) has acquired TerraTech Engineers, Inc., enhancing its capabilities in geotechnical engineering and environmental consulting. This acquisition, involving cash and stock, is expected to be immediately accretive to NV5's earnings. TerraTech, based in North Carolina with 50 employees, serves various governmental and private clients in the Southeast. The acquisition is anticipated to strengthen NV5's operational capacity and support its existing infrastructure services, benefiting both companies' clients.

Nv5 Global, Inc. (Nasdaq: NVEE) announced the launch of INSITE, a cloud-based geospatial data management platform by its division, Quantum Spatial. Designed for electric utilities, telecommunications, and government entities, INSITE enhances geospatial data management with tools for aggregation, access, and collaboration. The subscription-based platform integrates with major enterprise resource and asset management systems, enabling users to visualize large datasets effectively. This innovation strengthens NV5's position in the geospatial sector, further solidifying client relationships.

NV5 Global (Nasdaq: NVEE) will announce its fourth quarter financial results for the period ended January 2, 2021, on March 2, 2021, after market close. An earnings conference call will take place at 4:30 p.m. Eastern on the same day, hosted by Chairman and CEO Dickerson Wright, along with CFO Edward Codispoti. Participants can join via a toll-free number and are encouraged to call in ten minutes early. The call will also be webcast live and available for replay on the NV5 website.