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Apr 03, 2021
NV5 Q1 2021 Earnings Report
NV5 announced strong first quarter results, delivering record cash flows and issuing full-year 2021 guidance exceeding analyst consensus.
Key Takeaways
NV5's first quarter performance showed positive results with $48 million in cash flows from operations, increases in net income, adjusted EBITDA margins, and earnings per share, despite weather-related project delays and the COVID-19 pandemic limiting revenue generation for some services.
Gross revenues were $153.1 million compared to $165.5 million in the pre-pandemic first quarter of 2020.
Cash flows from operations for the first quarter of 2021 were $48.2 million, more than three times the cash flows from operations in the first quarter of 2020 of $13.6 million.
Net income grew by 31% in the first quarter of 2021 to $5.5 million compared to $4.2 million in the first quarter of 2020.
GAAP EPS in the first quarter of 2021 was $0.41 per share compared to $0.33 per share in the first quarter of 2020, a 24% increase.
Forward Guidance
NV5 resumed full year 2021 guidance.
Positive Outlook
- Increase gross revenues to $695 million to $720 million
- Increase GAAP EPS to $2.36 per share to $2.78 per share
- Increase Adjusted EPS to $4.05 per share to $4.45 per share
Historical Earnings Impact
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Avg. Return Before/After Earnings
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