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Jul 01, 2023
NV5 Q2 2023 Earnings Report
Reported financial results, demonstrating resilience in difficult market conditions and growth over the first quarter.
Key Takeaways
NV5 Global reported a 10% increase in gross revenues for the second quarter of 2023, with gross profit also increasing by 11%. Net income and adjusted EBITDA were impacted by lower income from operations in real estate transactional and LNG businesses. The company is well-positioned for organic growth and acquisition expansion.
Gross revenues increased by 10% to $222.6 million compared to the second quarter of 2022.
Gross profit increased by 11% to $110.3 million compared to the second quarter of 2022.
GAAP EPS was $1.00 per share, compared to $1.13 per share in the second quarter of 2022.
Adjusted EPS was $1.29 per share, compared to $1.49 per share in the second quarter of 2022.
NV5
NV5
Forward Guidance
Unable to provide quantitative reconciliations to the most closely correlated GAAP measure due to the uncertainty in the timing, amount or nature of any adjustments, which could be material in any period.