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Jul 02, 2022
NV5 Q2 2022 Earnings Report
NV5 achieved record second quarter results, exceeding analyst consensus and increasing full-year guidance.
Key Takeaways
NV5 reported a strong second quarter with double-digit growth in gross revenues, net income, Adjusted EBITDA, and earnings per share. The company's growth was driven across all six operating verticals, including the acquisition of GEO1, and achieved 8% organic growth in the first half of the year.
Gross revenues increased by 13% to $202.7 million compared to the second quarter of 2021.
Net income increased by 27% to $17.3 million compared to the second quarter of 2021.
GAAP EPS increased by 24% to $1.13 per share compared to the second quarter of 2021.
The company increased full-year revenue and EPS guidance.
NV5
NV5
Forward Guidance
NV5 increased its full-year guidance for gross revenues, GAAP EPS, and Adjusted EPS.
Positive Outlook
- Gross revenues are now expected to be in the range of $795 million to $815 million (previously $785 million to $810 million).
- GAAP EPS is now expected to be in the range of $3.90 per share to $4.29 per share (previously $3.57 per share to $3.92 per share).
- Adjusted EPS is now expected to be in the range of $5.43 per share to $5.82 per share (previously $5.39 per share to $5.80 per share).