NASDAQ$NVEE
Nv5 Global Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
NV5 delivered strong first quarter results, exceeding budget and analyst consensus for revenue and growing cash flows from operations.
NV5's first quarter results showed a 16% increase in gross revenues to $213.3 million and a 73% growth in cash flows from operations. The company raised its full-year 2024 guidance for gross revenues and EPS due to strong performance and the resolution of federal continuing resolution impacts.
- Gross revenues grew by 16% to $213.3 million, and gross profit increased by 18% to $112.8 million.
- Cash flows from operations increased by 73% to $19.6 million.
- The company raised its full-year 2024 gross revenue guidance to between $937 million and $942 million and GAAP EPS guidance to between $2.87 and $2.93 per share.
- NV5 is experiencing significant revenue growth in services for AI data centers and has become a leader in infrastructure design and commissioning for this market.
Headline financials
Revenue & EPS history
NV5 · Revenue · Quarterly
$213M
Forward guidance
NV5 raised its full-year 2024 guidance for gross revenues and EPS.
Tailwinds
- Gross revenue guidance for the full year 2024 is now between $937 million and $942 million, an increase from $930 million to $935 million.
- 2024 GAAP EPS guidance is now between $2.87 per share and $2.93 per share, an increase from $2.86 per share to $2.92 per share.
- 2024 Adjusted EPS guidance has been raised to $5.05 per share to $5.11 per share, an increase from $5.00 per share to $5.06 per share.
- The company is seeing tremendous revenue growth in services for artificial intelligence (AI) data centers.
- The M&A pipeline is strong, and the company anticipates completing additional acquisitions throughout 2024.
Headwinds
- Intangible asset amortization has increased by $3.1 million compared to the first quarter of last year.
- Interest expense has increased by $2.6 million.
- Operating margins were affected by the continuing integration of the Axim and VIS acquisitions.
- First quarter net income was $0.4 million, compared to $5.9 million in the first quarter of last year.
- GAAP EPS was $0.03 per share compared to $0.39 per share in the first quarter of last year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 6 quarterly earnings reports · overlaid with Q1 2024
+0.8%
Avg return
Earnings day
-1.7%
Avg return
5 days after
-1.7%
Avg return
30 days after
60%
29 / 48 earnings
Positive
+20.9%
Q4 2017
Best reaction
-31.7%
Q4 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2025 | +1.2% | +0.7% | +20.2% | |
| Q4 2024 | +1.8% | +4.9% | +7.3% | |
| Q3 2024 | -8.1% | -7.8% | -17.7% | |
| Q2 2024 | +1.8% | -2.1% | -7.3% | |
| Q1 2024 | +2.5% | +1.5% | -2.1% | |
| Q4 2023 | -7.0% | -7.4% | -10.9% | |
| Q3 2023 | +2.4% | — | — | |
| Q2 2023 | -2.2% | — | — | |
| Q1 2023 | +7.3% | — | — | |
| Q4 2022 | -13.3% | — | — | |
| Q3 2022 | -1.4% | — | — | |
| Q2 2022 | -1.7% | — | — | |
| Q1 2022 | -7.3% | — | — | |
| Q4 2021 | +13.5% | — | — | |
| Q3 2021 | +1.0% | — | — | |
| Q2 2021 | +8.5% | — | — | |
| Q1 2021 | -0.2% | — | — | |
| Q4 2020 | -0.6% | — | — | |
| Q3 2020 | +7.5% | — | — | |
| Q2 2020 | +7.2% | — | — | |
| Q1 2020 | +7.6% | — | — | |
| Q4 2019 | -13.2% | — | — | |
| Q3 2019 | -23.0% | — | — | |
| Q2 2019 | -10.7% | — | — | |
| Q1 2019 | +19.6% | — | — | |
| Q4 2018 | -31.7% | — | — | |
| Q3 2018 | +2.4% | — | — | |
| Q2 2018 | +11.8% | — | — | |
| Q1 2018 | +7.4% | — | — | |
| Q4 2017 | +20.9% | — | — | |
| Q3 2017 | -6.1% | — | — | |
| Q2 2017 | +3.8% | — | — | |
| Q1 2017 | +0.4% | — | — | |
| Q4 2016 | +1.1% | — | — | |
| Q3 2016 | +1.6% | — | — | |
| Q2 2016 | -0.6% | — | — | |
| Q1 2016 | +6.1% | — | — | |
| Q4 2015 | +4.3% | — | — | |
| Q3 2015 | -13.2% | — | — | |
| Q2 2015 | +5.1% | — | — | |
| Q1 2015 | +1.3% | — | — | |
| Q4 2014 | +0.5% | — | — | |
| Q3 2014 | +14.9% | — | — | |
| Q2 2014 | -0.4% | — | — | |
| Q1 2014 | +8.8% | — | — | |
| Q4 2013 | +10.2% | — | — | |
| Q3 2012 | -0.9% | — | — | |
| Q3 2013 | -0.9% | — | — | |
| Q2 2013 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2011 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro