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Oct 02, 2021
NV5 Q3 2021 Earnings Report
NV5 announced record revenues and net income in Q3 2021, exceeding analyst consensus.
Key Takeaways
NV5 reported a strong quarter with record revenues and net income. Revenue growth was driven by utility, real estate, and ESG services. The company's backlog increased by 13% for the quarter.
Gross revenues increased by 9% to $185.6 million compared to $169.9 million in Q3 2020.
Net income increased by 62% to $12.6 million compared to $7.8 million in Q3 2020.
Adjusted EBITDA increased by 16% to $34.7 million compared to $29.9 million in Q3 2020.
Adjusted EPS increased to $1.25 per share compared to $1.13 per share in Q3 2020.
NV5
NV5
Forward Guidance
The company updated full year 2021 guidance.
Positive Outlook
- Increase GAAP EPS to a range of $2.60 per share to $2.91 per share (previously $2.45 per share to $2.84 per share).
- Increase Adjusted EPS to a range of $4.36 per share to $4.62 per share (previously $4.20 per share to $4.55 per share).