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Jun 29, 2024
NV5 Q2 2024 Earnings Report
NV5 demonstrated strong organic growth and profitability.
Key Takeaways
NV5 reported a 6% increase in gross revenues to $236.3 million and a 12% increase in gross profit to $123.3 million for the second quarter of 2024. The company raised its full-year guidance for revenue and Adjusted Earnings per Share.
Gross revenues grew 6% to $236.3 million compared to the second quarter of 2023.
Gross profit increased 12% to $123.3 million, with a gross margin expansion of 270 basis points to 52.2%.
Adjusted EBITDA increased 10% to $38.5 million, with an Adjusted EBITDA margin expansion to 16.3%.
2024 Adjusted EPS guidance has been raised to $5.13 to $5.20 per share.
NV5
NV5
Forward Guidance
NV5 raised 2024 full-year guidance for revenue and Adjusted Earnings per Share.
Positive Outlook
- Gross revenue for the full year 2024 is now expected to be between $944 million and $950 million.
- 2024 GAAP EPS guidance remains $2.87 to $2.93 per share.
- 2024 Adjusted EPS guidance has been raised to $5.13 to $5.20 per share.