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HOLLYWOOD, Fla. - NV5 Global, Inc. (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, announced today it has secured contracts worth $5 million for the design of substation infrastructure in the Northeast United States. These contracts are aimed at enhancing the electrical grid reliability and supporting the resilience of utility infrastructure in New York and New Jersey. According to InvestingPro data, NV5 Global maintains impressive gross profit margins of 51.76% and operates with a market capitalization of $1.19 billion.
The company’s involvement will include expanding the capacity of existing substations and connecting them to underground electrical distribution networks. The design phase sets the stage for NV5 to potentially offer additional services through cross-selling opportunities. InvestingPro analysis shows the company maintains a healthy financial position with liquid assets exceeding short-term obligations, reflected in a current ratio of 2.05.
The awarded projects contribute to NV5’s ongoing growth in the Northeast utility sector, where it has experienced double-digit organic expansion. This aligns with the company’s overall revenue growth of 9.86% over the last twelve months. NV5’s CEO, Ben Heraud, highlighted the company’s increased utility design capacity along the East Coast, offering a broad range of technical solutions that address the nation’s increasing demand for secure and reliable energy. For deeper insights into NV5’s growth metrics and financial health, investors can access the comprehensive Pro Research Report available on InvestingPro.
NV5 operates over 100 offices across the United States and internationally, delivering services across six business verticals: utility services, infrastructure support, conformity assessment, buildings & technology, environmental services, and geospatial services.
The press release also included forward-looking statements regarding future operations and market conditions, subject to certain risks and uncertainties that could affect the company’s actual results.
This announcement is based on a press release statement from NV5 Global, Inc.
In other recent news, NV5 Global has been making significant strides in its business operations. The company has secured a substantial $4 million contract with Toitū Te Whenua Land Information New Zealand (LINZ) to supply geospatial hydrographic data for mapping approximately 20% of New Zealand’s coastline. This initiative marks a significant step in NV5’s international geospatial growth initiative.
In addition to this, NV5 has also announced its acquisition of Group Delta, a Southern California-based infrastructure engineering firm. This strategic move is expected to enhance NV5’s infrastructure engineering and environmental services in the region, particularly in light of California’s recent $180 billion infrastructure investment plan.
NV5 has also seen changes in its leadership structure, with Alexander Hockman stepping down from his role as Co-Chief Executive Officer (Co-CEO) and transitioning to the role of CEO of Infrastructure within NV5. Ben Heraud, who was sharing the Co-CEO title with Hockman, has now assumed the position of sole CEO.
Moreover, the company has set an ambitious goal to achieve $1.6 billion in annual revenues by the year 2028. This target comes as NV5 reported surpassing $1 billion in gross revenues as it entered 2025. These developments underscore NV5’s commitment to growth and expansion in its various business verticals.
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