NV5 Holdings Inc ( (NVEE) ) has released its Q4 earnings. Here is a breakdown of the information NV5 Holdings Inc presented to its investors.
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NV5 Global, Inc. is a technology and consulting firm providing conformity assessment, software applications, and engineering solutions for sustainable infrastructure and utility services across various sectors, including construction quality assurance and geospatial technology. In its latest financial report, NV5 announced a robust year with a 10% increase in gross revenues, reaching $941.3 million for 2024. The company also reported a 13% rise in gross profit, highlighting enhanced performance across all business segments. Despite these gains, net income dropped to $28 million from $43.7 million in 2023, attributed to higher acquisition-related costs and amortization expenses.
The fourth quarter of 2024 saw a 15% rise in gross revenues compared to the same period in 2023, amounting to $246.5 million, and gross profit increased by 13%. However, net income for the quarter decreased to $5.4 million due to acquisition and amortization expenses. NV5’s strategic acquisitions in areas such as data center commissioning and water resources have been pivotal in reinforcing its service offerings and contributing to overall growth.
NV5 continues to maintain a strong financial position with an adjusted EBITDA increase of 7% to $143.5 million for the full year. The company remains optimistic about its pipeline of acquisition targets in 2025, aiming to further strengthen its platform. For 2025, NV5 projects gross revenues between $1.026 billion and $1.045 billion and anticipates adjusted EPS ranging from $1.27 to $1.37.
Looking forward, NV5’s management is confident in navigating economic cycles with its focus on non-discretionary services and strategic growth initiatives. The company enters 2025 with a robust backlog and the expectation of continued growth bolstered by strategic acquisitions and market demand.
