NV5 targets $1.6 billion revenue by 2028

HOLLYWOOD, Fla. - NV5 Global, Inc. (NASDAQ:NVEE), a provider of professional and technical engineering and consulting solutions, announced today its objective to achieve $1.6 billion in annual revenues by the year 2028. This goal comes as the company reported surpassing $1 billion in gross revenues as it entered 2025. The company has demonstrated strong growth momentum, with revenue increasing by 9.86% over the last twelve months to $914.19 million, according to InvestingPro data.

Dickerson Wright, PE, Executive Chairman of NV5, highlighted the company's historical success in meeting ambitious growth targets and its ability to exceed industry averages for profitability, evidenced by its impressive 51.76% gross profit margin. He attributes this success to NV5's position at the forefront of tech-enabled engineering solutions. The company's growth strategy involves leveraging technology services and high-margin offerings to foster accelerated organic growth and profitability. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with 8 analysts providing coverage of the company.

Ben Heraud, CEO of NV5, elaborated on the company's growth strategy, emphasizing the role of entrepreneurial professionals in delivering unique value to clients through technical excellence, cross-selling initiatives, and technological innovations. He noted that the revenue target will be pursued through organic growth of existing capabilities and strategic acquisitions in technology-based solutions and high-growth sectors.

NV5 operates in various business verticals, including utility services, infrastructure engineering, conformity assessment, buildings & technology, environmental health sciences, and geospatial services. With a presence in more than 100 offices nationwide and abroad, NV5 serves both public and private sector clients.

The forward-looking statements made by NV5 are subject to factors that could cause actual results to differ materially, such as changes in demand from government and private clients, economic conditions, industry competition, regulatory changes, and other risks detailed in the company's SEC filings.

This announcement is based on a press release statement by NV5 Global, Inc. and does not include any speculative content or opinions. The company's future financial performance and strategic plans are subject to various risks and uncertainties that could affect their achievement.

In other recent news, NV5 Global, Inc. has experienced a series of noteworthy developments. The company reported a 6% increase in organic growth, a 13% rise in gross profit to $129.5 million, and a 31% increase in net income to $17.1 million during the third quarter of 2024. Additionally, NV5 announced a restructuring of its leadership team, appointing Ben Heraud as Chief Executive Officer, with Alex Hockman and Kurt Allen reporting to him.

The company also announced a plan to repurchase up to $20 million of its common stock, reflecting its strong financial health and expectations of increased organic growth and profitability. NV5 secured infrastructure design contracts valued at over $7 million from the City of Philadelphia and infrastructure consulting contracts totaling $60 million in Southern California and the Western United States.

In a bid to enhance its service offerings and contribute to its earnings, NV5 acquired Global Fire Protection Group and Southport Engineering Associates. These recent developments underscore NV5's commitment to innovation, growth, and service expansion.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.