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Sep 30, 2023
NV5 Q3 2023 Earnings Report
NV5 exceeded analyst consensus and reported record revenues.
Key Takeaways
NV5 reported record revenues of $239 million for Q3 2023, a 17% increase year-over-year, driven by strong performance in geospatial, clean energy, technology, data center, and international businesses. The company's infrastructure business also showed significant growth. They approach 2024 with a record backlog of $833 million.
Gross revenues increased by 17% to $239.3 million compared to Q3 2022.
Gross profit increased by 16% to $115.4 million compared to Q3 2022.
GAAP EPS was $0.86 per share, compared to $1.05 per share in Q3 2022.
Adjusted EPS was $1.51 per share, compared to $1.50 per share in Q3 2022.
Forward Guidance
NV5 provided full-year guidance for gross revenues between $860 million and $868 million, GAAP EPS between $2.80 and $3.17, and adjusted EPS between $4.79 and $5.16.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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