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Jul 03, 2021
NV5 Q2 2021 Earnings Report
NV5's record performance in the second quarter, led by their strategy, business model, and ability to adapt to market conditions, resulted in the highest gross revenues, net income, adjusted EBITDA, and adjusted EPS that NV5 has delivered in a quarter since inception.
Key Takeaways
NV5 Global, Inc. reported record second-quarter results, exceeding analyst consensus and raising full-year 2021 guidance. Gross revenues, net income, adjusted EBITDA, and adjusted EPS were the highest in the company's history for a quarter.
Gross revenues increased by 10% compared to Q2 2020.
Net income increased by 203% compared to Q2 2020.
GAAP EPS increased by 153% compared to Q2 2020.
Adjusted EPS increased by 44% compared to Q2 2020.
Forward Guidance
NV5 is raising its guidance on gross revenues, GAAP EPS and adjusted EPS for the full year 2021.
Positive Outlook
- Increase gross revenues to a range of $705 million to $727 million (previously $695 million to $720 million).
- Increase GAAP EPS to a range of $2.45 per share to $2.84 per share (previously $2.36 per share to $2.78 per share).
- Increase Adjusted EPS to a range of $4.20 per share to $4.55 per share (previously $4.05 per share to $4.45 per share).
- Public sector investments in infrastructure are expected to drive growth.
- Utility safety and reliability investments are expected to drive growth.
Challenges Ahead
- Changes in demand from the local and state government and private clients.
- General economic conditions, nationally and globally, and their effect on the market.
- Competitive pressures and trends in the industry.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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