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) 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.
NV5 Global, Inc. (Nasdaq: NVEE) has secured a three-year contract with a major national utility to deliver engineering and design services for power distribution and substation infrastructure. This project, part of the company's ENERGY 2021 initiative, is expected to generate over $100 million in revenue. NV5's comprehensive service offerings will support power grid modernization, enhancing reliability and safety. The contract reflects NV5's expertise and client trust, reinforcing its status in the utility sector.
Nv5 Global, Inc. (NASDAQ: NVEE) announced it has secured approximately $4 million in program management contracts aimed at enhancing healthcare and municipal infrastructure in the western United States. Key projects include a management contract for a new hospital in Prosser, Washington and support for infrastructure projects in Santa Fe, New Mexico. The company has a longstanding relationship with Colorado Springs, Colorado, where it will assist in transportation improvements. CEO Dickerson Wright emphasized the company’s commitment to improving community health and infrastructure.
Nv5 Global, Inc. (NASDAQ: NVEE) has secured approximately $15 million in civil program management and design contracts from California cities and counties.
These contracts will support transportation and water infrastructure improvements, including significant projects like airport upgrades in San Diego and sewer improvements in Central Valley cities.
NV5's extensive expertise solidifies its position as a leader in engineering consulting and showcases its robust engagement with municipal clients.
NV5 Global, Inc. (Nasdaq: NVEE) has announced its acquisition of Industrial Design Associates International (IDA), enhancing its engineering consulting capabilities. IDA, with 85 employees across seven offices in Asia and Europe, specializes in building commissioning and MEP design for high-margin sectors like financial services and technology. This strategic move is expected to increase NV5's international revenue, particularly in subscription-based energy services. The combined expertise will create opportunities for existing clients and attract new business in high-growth markets.
NV5 Global, Inc. (Nasdaq: NVEE) has secured $13 million in contracts from the North Carolina Department of Transportation (NCDOT) for inspection services and feasibility studies, each lasting two years. The contracts include a $10 million Construction Engineering and Inspection contract and a $3 million Feasibility Studies contract. NV5 has partnered with NCDOT for over 25 years, and these new contracts enhance its role in supporting public infrastructure projects in North Carolina.
NV5 Global, Inc. (Nasdaq: NVEE) has secured an $8 million contract for engineering, procurement, and construction services to improve a liquefied natural gas facility for a Northeast utility. This project aims to enhance safety, efficiency, and reliability in gas supply. The company is experiencing growth in the utility sector, enabling investments to modernize infrastructure. NV5's expertise in engineering offers clients a competitive advantage, contributing to reliable gas delivery.
NV5 Global, Inc. (NVEE) reported a strong third quarter for 2020, with gross revenues increasing by 30% year-over-year to $169.9 million, surpassing analyst expectations by 9%. Net income rose 33% to $7.8 million, while adjusted EBITDA grew by 70% to $29.9 million. The company generated $21.7 million in cash flows from operations and paid down $27.8 million in debt. Despite a higher interest expense and tax rate, NV5's backlog increased by 9% and cash on hand was $64 million at the end of the quarter.
NV5 Global has secured over $3 million in contracts for mechanical, electrical, and plumbing (MEP) and technology design services across projects in Hong Kong, Malaysia, and Saudi Arabia. Notable projects include the full refurbishment of the Le Meridian Hotel in Hong Kong and MEP services for a prominent mall in Kuala Lumpur. Additionally, NV5 will assist a movie theater company with plans for fifty cinemas in Saudi Arabia. This growth follows the acquisition of Mediatech Design Group, enhancing NV5's international operational capabilities.
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