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Sep 28, 2024
NV5 Q3 2024 Earnings Report
NV5 delivered record results driven by strong organic growth and achieved targeted annual revenue run rate.
Key Takeaways
NV5 reported record third-quarter results with a 6% increase in gross revenues to $250.9 million and a 31% increase in net income to $17.1 million. The company's Adjusted EBITDA increased by 21% to $44.5 million, driven by strong organic growth.
Gross revenues grew 6% to $250.9 million.
Net income increased 31% to $17.1 million.
Adjusted EBITDA increased 21% to $44.5 million.
GAAP EPS grew 29% to $0.27 per share.
NV5
NV5
Forward Guidance
NV5 updated its full year 2024 guidance, expecting gross revenues between $939 million and $943 million, GAAP EPS between $0.48 and $0.54 per share (adjusted for 4-1 forward stock split), and Adjusted EPS between $1.15 and $1.19 per share (adjusted for 4-1 forward stock split).
Positive Outlook
- Gross revenues: $939 million to $943 million.
- GAAP EPS: $0.48 per share to $0.54 per share (adjusted for 4-1 forward stock split).
- Adjusted EPS: $1.15 per share to $1.19 per share (adjusted for 4-1 forward stock split).