Loading...
•
Oct 03, 2020
NV5 Q3 2020 Earnings Report
Reported record results and exceeded analysts' expectations.
Key Takeaways
NV5 Global, Inc. reported a strong third quarter with a 30% increase in gross revenues and a 33% increase in net income compared to the third quarter of 2019. The company exceeded analyst expectations for gross revenues and adjusted earnings per share. They also generated $21.7 million in cash flows from operations and paid down $27.8 million in principal under their credit facility.
Gross Revenues grew by 30% to $169.9 million, exceeding analyst consensus expectations by 9%.
Net income increased to $7.8 million compared to $5.8 million in the third quarter of 2019.
Adjusted EBITDA grew by 70% to $29.9 million compared to $17.6 million in the third quarter of 2019.
Adjusted EPS was $1.13 per share, exceeding analyst consensus expectations of $0.70 per share by 61%.
NV5
NV5
Forward Guidance
The company continues to see a solid pipeline of opportunities as they enter the fourth quarter and beyond.