NV5 Holdings Reports Record Third Quarter Growth

NV5 Holdings Inc ( (NVEE) ) has released its Q3 earnings. Here is a breakdown of the information NV5 Holdings Inc presented to its investors.

NV5 Global, Inc. is a versatile provider of technology, conformity assessment, consulting solutions, and software applications, serving both public and private sector clients in the sustainable infrastructure and utility sector. The company operates over 100 offices worldwide, offering diverse services in construction quality assurance, infrastructure engineering, utility services, buildings & technology, environmental health sciences, and geospatial technology.

In its latest financial report, NV5 Holdings Inc. announced record-breaking preliminary unaudited results for the third quarter of 2024, showcasing strong performance and growth. The company achieved a gross revenue increase of 6% reaching $250.9 million and a gross margin expansion to 51.6%. This growth was largely fueled by robust organic growth and strategic industry investments.

Key financial highlights include a 31% rise in net income to $17.1 million and a substantial 145% increase in operating cash flows to $48.9 million. The Adjusted EBITDA reported a 21% growth to $44.5 million, with the Adjusted EBITDA margin climbing to 17.7%. The company’s strategic focus on these metrics reflects its successful business model and operational efficiencies.

Additionally, NV5 revised prior financial periods to correct overstated revenues and earnings due to a recently identified out-of-period project revenue, demonstrating the company’s commitment to financial accuracy and transparency.

Looking ahead, NV5 anticipates continued growth supported by a strong backlog and significant industry investments. The company forecasts its full-year 2024 revenues to range between $939 million and $943 million, maintaining a positive outlook for the future.