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Oct 01, 2022
NV5 Q3 2022 Earnings Report
NV5's growth in revenues and profitability in the third quarter resulted in another record quarter and once again demonstrated the success of the NV5 business model.
Key Takeaways
NV5 Global, Inc. reported record third-quarter results, exceeding analyst consensus with a 10% increase in gross revenues, a 28% increase in net income, and a 27% increase in GAAP EPS.
Gross revenues increased by 10% to $204.1 million compared to Q3 2021.
Net income increased by 28% to $16.1 million compared to Q3 2021.
GAAP EPS increased by 27% to $1.05 per share compared to Q3 2021.
Cash flows provided by operations increased by 65% to $26.1 million compared to Q3 2021.
NV5
NV5
Forward Guidance
NV5 enters the fourth quarter with a strong backlog, a healthy acquisition pipeline, and potential high-margin, non-discretionary service offerings.