NV5 secures $15 million contract for California project

HOLLYWOOD, Fla. - NV5 Global, Inc. (NASDAQ:NVEE), a professional and technical engineering and consulting solutions provider with a market capitalization of $1.01 billion, has been awarded a $15 million contract to oversee construction management for the initial phase of the North County Corridor project in Stanislaus County, California, the company announced today. According to InvestingPro analysis, the company maintains impressive gross profit margins of 51.34% and is currently trading near its 52-week low, suggesting potential value opportunity for investors.

The North County Corridor is a multi-phase project aimed at enhancing regional mobility, reducing traffic congestion, and fostering economic growth in an area known for its substantial agricultural output. The project is a collaborative effort involving the Stanislaus Council of Governments, the cities of Modesto, Riverbank, Oakdale, and the California Department of Transportation (Caltrans).

The first phase of the project involves building a modern, multi-lane expressway equipped with a single-point urban interchange, pedestrian upgrades, and a series of critical infrastructure enhancements. Additionally, this phase will see the construction of seven bridges and numerous mechanically stabilized embankment walls, as well as improvements to local roads.

Construction is set to commence in May 2025 and is expected to reach completion within three years.

Ben Heraud, CEO of NV5, stated that the company's long-standing relationships with municipalities and transportation departments have positioned NV5 to effectively compete for major infrastructure projects. He expressed pride in NV5's role in contributing to the North County Corridor project.

NV5, headquartered in Hollywood, Florida, operates from over 100 locations nationwide and abroad, offering a range of services across utility, infrastructure, construction quality assurance, buildings and technology, environmental health sciences, and geospatial services.

This press release includes forward-looking statements, and NV5 cautions that these are subject to various factors that could cause actual results to differ from projected outcomes. These factors include changes in local and state government demand, general economic conditions, industry competition, regulatory changes, and other risks detailed in the company's SEC filings. InvestingPro analysis indicates the company maintains a Fair overall financial health score, with additional ProTips and detailed metrics available to subscribers looking to make informed investment decisions.

This article is based on a press release statement from NV5 Global, Inc.

In other recent news, NV5 Global, Inc. reported securing $18 million in contracts for designing and commissioning data centers in the United States and Asia, reflecting its growing role in the data center industry. The company also announced a $9 million contract to support wildfire mitigation and grid resiliency for major U.S. utilities, utilizing advanced geospatial remote sensing technologies. Additionally, NV5 completed the acquisition of CRS Survey PLLC, a North Carolina-based land surveying and mapping service provider, which is expected to be immediately beneficial to the company's earnings. Further expanding its operations, NV5 acquired Herman Cx, a firm specializing in commissioning services for hyperscale data centers, enhancing its capabilities in this sector. In a separate development, NV5 secured a $5 million contract from the Florida Department of Transportation to provide geotechnical engineering and construction materials testing for the Florida Turnpike. These developments underscore NV5's strategic growth and diversification across multiple sectors. The company's CEO, Ben Heraud, emphasized the importance of these initiatives in supporting infrastructure and technology services. These announcements were based on press releases from NV5 Global, Inc.

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