NVEE - Earnings call transcript Q3 2018

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Operator

Good afternoon, everyone, and thank you for participating in today's conference call to discuss NV5's Financial Results for the Third Quarter ended September 29, 2018.

Joining us today are Dickerson Wright, Chairman and CEO of NV5; Michael Rama, CFO of NV5; Alex Hockman, COO of NV5; and Jenna Carrick, Investor Relations Manager for NV5. I would now like to turn the call over to Jenna Carrick.

Jenna Carrick

Thank you, operator.

Before we proceed, I would like to remind everyone that this conference call may contain forward-looking statements within the meaning of the safe harbor provisions of the United States Private Security Litigation Reform Act of 1995, including statements concerning future events and future financial performance. contained these actual qualified from results by forward-looking that that important those cautions the cause could to statements company statements by are factors reflected The herein. differ materially on All forward-looking the hereof, as update the and required available to the assumes obligation statements, company date no information company such statements on to by based are except law. and everyone available the of this today's also be via I company's link replay news section website. would call Investors webcast release like of the that a to in the remind provided will Any redistribution, of is this of any in strictly express call Global the written retransmission or NVX rebroadcast way without prohibited. consent

We third followed Officer, review of will Wright, NVX; quarter XXXX by Dickerson third an the from some Financial of for the operations the by for review a Michael rest Alex results outlook followed with quarter begin Operating the a for accomplishments; and Rama, update of Officer, comments Chief of Chairman the Chief and CEO of and from call Hockman, financial year-to-date significant year.

open the Dickerson, go questions. please call your for then ahead. will We

Dickerson Wright

you announcing and for third for market Thank XX, September close quarter we X the NVX's news Call. After to XXXX results thank everyone the of joining you, today, a months ended issued Third our Jenna, financial Quarter release us Conference and the XXXX.

increased third organic before earnings $XXX.X representing approximately shares or same quarter year-to-date, We X% and increased in year-to-date. are over of increased saw revenues over a to pleased per X% per in quarter increased includes taxation, quarter XXXX. the of interest, increases quarter positive share to which the and a XX the the same third XXXX, from million, million XX.X the Adjusted income to quarter depreciation, amortization increase performance contributions operating $X.XX to shares of all the XX%. In share in quarter were excellent period quarter, $X.XX in and report Backlog for We which million net growth XX% continued increased share for third over XXXX third XX%. our verticals. Earnings EBITDA for compared XX% XX% the over the XXXX.

to we to with create employees and inclusion clients, our organization we an of continue shareholders. As strive grow,

and All are together this success know in that us of NVX. this has together in we to pulling belief of the contributed

specific Alex Now Officer, Chief to to turn to call a the quarter. minutes over Hockman, few our I Operating will accomplishments the take highlight some NVX's for of

Alexander Hockman

afternoon, Dickerson, you, everyone. and Thank good

our vertical grow infrastructure in Our West and large awards to regions. continues contract East organically with

us were Jersey Transportation California $XX Transportation contract a we awarded of design a New XX. diverse the and York allows construction the the cycle Department and million QX, the $X NVX with asset. Transportation, of has City history through New with Transportation million clients, contract expertise District $XX a provide our from in contract Specifically, throughout our and Department million phase of services with of a Department long to life with the

million. in three we $XX contracts the Our cities is recognized counties, by transportation QX, totaling also were and awarded municipal and over experience

expanded of and limited million. were we has surveys Georgia. the infrastructure for CALYX, XXX-person XXXX with the services a North survey selected Southeast acquisition into engineering $XX the and And XXXX and North contract group infrastructure in with Carolina Our Carolina South offices location to Department Carolina, company of Transportation for

a energy, full Our to testament service energy diverse services, service also Southern large contracts $X sectors. were our million national contract and We power of design, outreach. program master California to service agreement with utility won for in group over management a efficiency continues the offering a utilities. three-year grow This including energy and awarded to and public is

our increased forecast the experienced technology delays sciences we building is and temporary project QX, have in our optimistic backlog. group While as

values include Some Airport market the division commissioning that Salt won Texas, of group segments, with University University of with for of sectors BTS those and the Lake BTS Administration. clients key the the of million market of airports, group excess key hospitality the Minnesota, projects health education, the The care. in include our Veterans $X and in City

technical Railway in and program hospitality Asia care design won result and over $X is management other fashion of Hong for feasibility the of BTS was with our Our Corporation, divisions notable Airport has the with Dreams in also sectors. transportation Band service and areas study authorities the China and CSA a projects the contracts Midfield Asia Macau, last Cyprus a health offerings the Mass BTS level BTS for and Dhabi X obtained the with for municipalities, Kong Terminal, in City selected quarter. the million retail and new Taiwan. airport Wynn Transit and projects won the which acquisition Abu market announced of

to continue also We high-value integrate delivering technology services. while

collect to approximately XXX drone on would was using our Navy Using Our is over techniques, hours a but service Brooklyn technology photogrammetry four the of taken survey and conventional the differentiating task drone-based survey in acres completed have was Yard. weeks data used several providing technology.

water cross-selling which sectors. group, lead the technology contract through can how infrastructure an is a a plant. subscription-based implements model, revenue with won all MGM initiatives group a This contract Southern Macau this our project city of for a and $XXX,XXX California and analytics energy prestigious treatment support with was example a and Our market

our to for of verticals like XX, the the Officer, quarter QX, months potential X of for Cross-selling cross-selling results on to Rama, would million fees and revenue. most a our financial turn contracted allows for our XXXX Mike net converting ended generated Financial across the I overview over detailed focus us occurring to outlook professionals subcontractor the September third XXXX. Our have Chief for geographies the Michael? $X.X and more is now and revenue and of serving clients. to call qualified balance

Michael Rama

and you, good Alex, Thank afternoon, everyone.

in XXXX the net an an well for the XXXX. for increase the quarter EBITDA the XXXX. X% remainder of organic was quarter as in -- the third of XXXX. quarter the quarter X I in of and last months XXXX I September company's closed third of third will of review to outlook net XXXX. third or for and quarter in revenues compared results of Net of an of XX% million, the of and the $XX in ended of revenues an in $XX to XXXX, of million million, the These Gross the third Net XX% increase net XX, revenues, XXXX quarter XXXX. million First, were third will year. $X.X from to a million XX% quarter quarter from compared updated $XX.X the of million provide the of $XX.X net growth $XX.X quarter gross or of increase XX% increases revenues income of to the compared XXXX $X.X due for revenues the were quarter were for then of contribution XX% revenues million, during third was third XX% acquisitions of XXXX as third in income million of increase $XXX.X

Third in intangible $X.XX XXXX. from which quarter of assets per third the $X.XX the of of impact amortization excludes XXXX quarter versus acquisitions, was share, adjusted earnings

$X.XX in Third earnings was $X.XX third the XXXX. GAAP quarter XXXX share versus of quarter per

shares of September common weighted The XXXX, XXXX. months outstanding earnings XX, weighted in shares the September GAAP X.XX outstanding for of offering million million ended shares quarter three XXXX. August weighted the from our increase issuance reflects secondary shares of average shares stock in shares Our XX, and average reflects share ended XXXX to outstanding per adjusted of average compared million three for XX.X third XX.X months the

X contributions of $X.XX XX, XXXX, million, ended from X the share income net months $XX.X XXXX. XXXX. net XX% million versus million GAAP September XXXX, an the months ended we'll increase XX% period September the from same Net compared to per the Now ended was XX, the as $X.XX $XX.X earnings revenues XX% net for year-to-date the organic $XX.X the or were an XXXX. in Net months for increase X $XX.X XX, from for XX% to during of review were well XXXX. year-to-date of XX, million, $XXX.X months for XXXX, months versus These of September September X period of was in months X million ended ended XXXX. XXXX, in revenues, X and same months September for XXXX, due X XXXX September ended increase September as XXXX. $X.XX XX, in EBITDA Adjusted months revenues XXXX. ended acquisitions XXXX XX, for increases of X closed ended the $XXX.X growth XX% for compared or the share period was increase X $X.XX the XX% million, XX, September XX% earnings the was were of an XX, revenues results for September XX, the income ended in same the months to of an for Gross XXXX. when the per

Our August year-to-date for of months the the reflects XXXX. from XXXX outstanding September ended in issuance outstanding The the shares to X shares of earnings XX.X our ended million for weighted XXXX, GAAP X September average the offering per million shares weighted average months XX, XXXX. XX.X in XX, weighted secondary increase X.XX shares reflects and shares shares million outstanding adjusted share compared of

were X equivalents flows $XX.X of $XX.X secondary for and as $XXX.X XX, equivalents of in from repayments XX, increase months XX, August XX% million $XX.X net As the an of reflects $XX.X from of September reported Cash of million XXXX. September $XXX.X in The debt $X.X of were December XXXX. offering our as At cash million compared September and XXXX, to activities to cash offset million we XX, flows proceeds $XX.X million ended compared of ended increase from months million of of X XXXX, partially by XXXX. backlog XXXX, long-term the XXXX, September in million. our XX, million, September cash cash XX, cash operating

backlog of over period. Our a be is XX-month estimate recognized rolling revenues to an

on to XXXX. for our moving outlook Now

revenues We and raising for XXXX earnings are guidance per share. our

represents to to $XXX of of XX% to from $XXX range XXXX net revenues $XXX We expect XX% expected million. to full of revenues increase million. an million, which an represents revenues revenues from to XX% million, to year from $XXX range increase XXXX $XXX is Net which $XXX of million from gross million XX% XXXX

year will of We $X.XX share XX%. $X.XX per earnings to XXXX adjusted from per an share, expect increase to XX% range full

per over of like to any earnings I'd share further Chairman range call and excludes XXXX back Wright, for to the share per expect year GAAP from anticipated We Dickerson comments. the now $X.XX guidance acquisitions our for per turn $X.XX share. to will This XXXX. full remainder CEO,

Dickerson Wright

like dedication would to to I mergers comment continued on acquisitions. and Michael. our you, focus Thank and

run $XXX We through rate in XXXX. recognized fully year be revenue added will over have million that this in acquisitions

natural liquefied nationwide. gas, that Our XX% engineering, gas gas provides the West most we CHI U.S. procurement, and week, acquisition, more construction of in natural petroleum XXX base recent the the client this will rapidly early growing facilities of services and management CHI's Engineering, announced includes industries. complement in expansion than energy power drive services LNG NVX's the The the group to acquisition

Our have current pipeline seen. fullest the is acquisition we for

generated, and opportunities are more internally more to Our but brought us. not targets are only being

being acquirer creates are the NVX. recognized best to industry as join an for that We in opportunities companies

service We now for see that to will the prepared above growth and standards. your and our we'd existing deliver remarks, lines and high industry call continue to margin profit This opportunities questions. completes organic like densify open our

Operator

the first ROTH Partners. comes from line Instructions] Martin Our Capital question of Jeff from [Operator

Jeffrey Martin

about you BTS? comment your some in delays Could project on elaborate

Dickerson Wright

to project the the to speak Yes, major can't projects that name. liberty additional Macau -- major of -- that large has I'd those delay. That do our in start. a at too. very And casino, be to the hospitality also effect project a and area. for be in university Carolina, see we'll in that but in driver delayed to market. that specific on come in significant we North had in the I the months -- our will a the now the happy delay recently fourth expected we X impact work But casino the of been It's delays that casino disclose projects, were some been that been awarded we're quarter. We We've on not a the just the delays seen work most vertical Northeast to in has but work online in in expect in that.

technology, us. did optimistic impacted that about building see delay but So a in some we projects we're still

Jeffrey Martin

frame do Are you to over you to that able coming do the you revenue type that? -- do that have time anticipate And visibility yet? board? Or quantify what to you on

Dickerson Wright

certainly recognizing it's then that the increases The we two-edged -- long Well, a backlog. sword, as as don't Jeff. the revenue, start

the timing fourth -- to additional as in some I LAX the the to we started we're had to quarter. terminal, as these, hoped start So projects starting seen see would, Bradley work that the We've Airport of to the we at -- on delay that. And sooner. in but significant one far awards start get expect is but them these in

As X% were far to as X% downturn in expecting. quantifying that, we represent that about revenue probably that would

Jeffrey Martin

to the quarter? X% X% in

Dickerson Wright

X% Well, to in it revenue saw thought BTS. but X% annualized. you a of quarter, all X% this we in

other university not area. the includes BTS too, or areas of that So just casino

Jeffrey Martin

around on And opportunity then, to you could hoping good months. been over growing that that speak addition it My of is today. of vertical? call kind I could growth you nicely understanding And you've the had energy it's give with color seems just your the was XX CHI, the area. like quite past within some that

Dickerson Wright

we But we're yes, double-digit vertical, that that sector focusing experiencing really energy are on Hopefully, initiative. soon an organic that high we will alone, start. have because growth. The

markets. the installation only procurement, where result something of where the and lead is a want they And what is not see the sole source utilities the really we're -- getting of to to gas you'll we see is all from public are utilities wanting engineering, inspection, Some to out the that and EPIC, of want called are but that and doing. that's services, for one retain management. they or construction going what services, CHI their engineering we But be like that and outsource utilities to and go to EPC the

really of higher get to amount much And of in because a business the is so see leader going our now. and we'd a growth so in this, doing the tremendous energy to want revenue be we share

growth. going verticals. of piece So one business we forward significant a maybe our to are forward can't our largest be at much that speaking really I we of thinking, that looking expect too being of and but

Jeffrey Martin

in What was the quarter? the in companies from contribution acquired of terms revenue

Michael Rama

About million. $X

million, and quarter, $X the million. it's For $XX year, for the

Operator

next line question comes Markets. of Street Rob from Capital Our the from Brown Lake

Robert Brown

What the playing talked You pipeline. 'XX? full And areas are very how about looking see you some do you're that acquisitions having out a at? in of of

Dickerson Wright

are Well, now we start our fortunate want don't densify we we now to that platforms. -- to -- Yes. existing enough can five we

so growth we to at now but high are because not that a with in the work. be of and they could markets. that little do And higher really And have organic acquisitions, be barrier very we key entrée selective looking in be a can high EBITDA platform more acquisitions they tie in,

looking technology So the are a areas at that there. look we is, we're subscription-based growth revenue and because looking at at we high

We return we selective the the in the management very firms Asia. thing that looking network. the a And industry where average, have to that. we very, engineering look we're for foundation the densify at higher key think that we program at support only RCQA industry, we The But We're growing tuck-in because And organic very some growth are area work are group baseline we tie our looking existing to to organically continued starting network the selective high they again standard? was than now also we're I have. can just -- acquisitions something. X.X%. in been weighted it's is, at in very and being can in geotechnical do of really good looking in And

So that. even it's though double we're at X% this year,

growing, a platforms. So reoccurring stream. we that luxury existing able markets now that we have densify have our are for And revenue to being are of are looking very that profitable,

Robert Brown

organic mentioned some Or you what's right of In just maybe in are but color part areas? you it, on growth. terms of -- driving organic the is cross-selling it that driving growth, is

Dickerson Wright

I'll flat really -- extremely and we in people I it best the know, that people client our organization to because of client to where in time, can can concluding is problem-solvers you with we that and to think out the the do our speak there. have the be key some an thing, think facing but the all to wants solve, if that I comments, this Well, have say

or So were were reason we asked it asked in want if some they attending and times, that why are maybe meetings you they consulting, If person they we so for were I the asked smartest be for design for were our you often don't room resource. say, to asked. consulting, others the that you said for even many people environment the a

to of or our people internalize So things want we acquisition We relationships in really out-facing. have based our tend to that grow do clients with the We want don't -- our organization. to don't seem on people being being our win running more best the up the we are. people, support we best want about our win. in free functions engineers, really to the We that We areas organization. worried to and

luxury that now our growth we very to of best really think think out-facing. in having I the the organic being having add people value. best need high with and have And our of but So we I organization client companies, being selective front do by we

Operator

next comes from Our Singular line of Springer the Research. from Lisa question

Lisa Springer

ask of is opportunity the I gas the going how to CHI wanted to the you the natural liquid help you about with market and acquisition scope in that.

Dickerson Wright

well, is for these in known domestic more the CHI small utilities. well industry

gained gas. natural the have deal the conversion thing where The giving really in So how as is this from that do of CHI. you store of you relationships you that -- us do this they and really amount have longer-term how the we that ship something tremendous we a is because oil much a produce industry, feel key we expertise was it, it, know, we

utilities, to work domestic Asia tariff-holders there think subject that a done or in-house. or tariff why good in services This China. that to shipping is that's for space that's this or us and we LNG is like The entering we very with other platform thing their that's is no

twofold; for are they good can So are very them what service a in -- selective market. we where very, one, do

platforms have add our breadth utilities, with now resources, to to financial our much have Now them resources, the national we a our larger that basis. design we with on

that's where space conversion we're storage LNG excited really and looking joining so the for and the of And to market And about me, us. natural is grow. the really we're space and very CHI believe that very, a growing gas

Operator

line question comes from Sullivan from the next Group. Maxim Our Tate of

Tate Sullivan

was orders was It is sounded -- DOT consistent? like normal total that or for the higher that pretty -- than

Alexander Hockman

realize, to West. an the and This been was seeing than we Transportation in a higher bit the little work of the able East throughout are typically we've so Department uptick

Dickerson Wright

Alex your Tate. That answering Hockman was question,

Tate Sullivan

acquisitions, following into time? How you -- what it And does long instance? in what doing addition, take cross-sold your energy, how give to is ramp-up up in the on other sell across have you California country, for go you delivery and can I maybe how mean, examples business. your of the power you're

Dickerson Wright

Well, very -- -- can long-term or process be can can it immediate. be it a take it

after We the we we're billable times, to either utility won't driving to and we we really the Fortunately, so they that it. really business are have located, those many very have with clients they because for people some project a will where relationship on -- the go of and technical very way. us there's we on chase will look are for that very projects have or going and are If really work, rely have we call have really forward we they so that focused our to us, selective with already want quick. a say, strong

cross-selling, Well, now. how -- a I to we yes. go in might but was that comment was to [indiscernible] our as and cross-selling, speak comments, I about question and going do Your with make that well we concluding doing

does in now -- nothing the nationwide does mean, Synergy he country. We other many of but we things, make does in focus that knows a in have he's And but does is -- now, in, Chief sure case other tie he who XXX have is main right I he Officer the doing. every office about every our company office listening one what offices

an acquired of how our have of for CALYX, company tells work and all turn, we're services webcast. how we a is the we're that on in We recently winning they we're So do. we a there people. document how the they doing, have rewarding internal a delivered and companies our And bit it, call, it we're every including biweekly webcast

-- to is work. and national So do our offices them sales including force our the

be cross-selling want reduction So other has that's work cross-selling, focus really why to because work. keeping we so doing we of don't that how to this be we measured we say want the to on our And are we much sub-consultants internally. the say can know and -- of offices

Tate Sullivan

that a And follow-up on too.

with issue? do state it on that engineers to power and stake East an a the California an area? in or the certification different they in work then need and on your that a For do expert Coast, is that work Or can employee project

Dickerson Wright

or licensing Well, It's more issue. it's a only a an issue, a for but it's issue. technology not certification

have state. can Asia. for Las We engineering do spent have professionals so amount of licensed be that we on many every a software in vice New California Vegas and money work for and But We tremendous now work our engineers in versa. in design We do York doing work.

remotely Asia technology offices the much all from does this do for so can and can is not fieldwork, linked, and this we mainly work, -- do that that is most of software have. but that work we in is by the connected that work many we And Boston. the of linked design of the our all software

Tate Sullivan

profit do can I contracts versus you that? you on I can mean, costs? Is said how a you how think range. based you margin? gross a consistent? keep price how can in ask I so Or question it the that usually And that Michael, can on that before quick stay salary consistent

Michael Rama

function Gross be going to we're a margin time. the really of the working is projects at

XX%. to XXs ebb XXs, it between from the -- and So could high flow

and that it working of projects we're mix the based -- on. by just upon So flows ebbs

Tate Sullivan

that the an XQ? quarter, or here with percent as revenue And of closing thought I I'd uptick acquisition Why then case an in wasn't expect the backlog. of an usually a percent SG&A acquisition, in in prior

Michael Rama

fully last the within -- and incorporated year, Well, last synergies integration seeing a year. from scalable we're into systems lot acquisitions those acquisitions -- that we've so of our are we've the of our baked on become from our

well. really you're what as that's So seeing

Dickerson Wright

And we centralized have remember, Tate, organization. a think, I mammoth don't to want

be but to have and situations. we don't scalable, acquire absolutely we look we turnaround So

the standardize case to We very we're There the a our very acquisition of CALYX, duplicate rush profitable. recent acquiring can SG&A. their think with operations So And the profitable rush and are time. take is that there's I operations. very, in no not to

we've And so really we any -- haven't just had that on impact haven't we SG&A. -- yet seen

Operator

Instructions] the next [Operator of Rudy Miller line question from Miller from Our comes Capital.

Rudy Miller

First of stored all, CEO some you're But early that since you've you general? of you a mind my little how questions you NVX investors in were through company asked currently Do acquisitions giving company you been sold with your color? by who've you public with previous just back would where all that say the involved. articulate going were and many out,

Dickerson Wright

Don be people yes. Alford, that our who's I'll Yes, very M&A Well, general, many guy know and...

Rudy Miller

UVA He's and a but graduate ahead. an go ex-Marine,

Dickerson Wright

He acquisitions together. Yes, XX we've say to that right. done that's likes

small. some we very NVX, are when even out, very get know, started they now. to And them were you as tend them, case in first of of Some but the larger of small,

-- was XXnd NVX. So as this our acquisition I XX our is think CHI

of of So then We also, that acquisitions U.S. -- work lot a for also. lot were in we Veritas. building there work through Labs did acquired their Bureau acquisition platform by to a that. of acquisitions was did when we prior and meant And a series

Rudy Miller

next unique and that your those over shareholder, over to still major years, XX other NVX then your you Capital integration but investor from such you're did a ask and this biggest biggest processes and/or international? acquisitions but your was even in that's were ROTH expertise a number through I hear, prepared I Dickerson, smaller and company, challenge? keeping XXX the the the I've what shareholder guidance that forward your casino of I'd guidance and like What think then since you is and been still is, about second for Well, currently, same before now models regarding your your I I still question gave -- other the in on am -- just want you've and done is is one And out culture door, and to of original things of generation general, basic make And was in previous gotten -- the given making your your other you. what with what But your you may guy, challenge a young shareholder challenges? for and of you've comment, a objectives and and I today respect because years. the you're the concern at to a range. done you've as point to not is recent a the On months because but even in not metal is your And for I'm the next going got the I what my that of given much I assets with great us couple you with XX been months concerned that forward the you've the the perspective? is people with softball a exposure, short have when and in the because as shepherding shareholder, -- you've what a you your date, to there are larger, to status, -- a the historically, business want over have not lot job biggest issues more only just then that question where you that going that is of services you've go the walk you're

Dickerson Wright

prepared don't you can't for certainly be you know. well, -- what That's

that by the we be economy. to an uniqueness not mandated I always I say So any it's in industry want of or that think stroke part. is But would genius our on not

there's to finite push all water growth in whether clean over such whether we this to blessed in very are or that They And not. So treat I've population it's a good have economy that a don't quarter. we whether industry. to or have And economy in go is said many that be bridges times, to have our people -- resources. have engineering weather. the infrastructure bad bad good is drink chasing the waste a They fail

enough But we with internally, How how our fortunate culture on in our is speak to and best going keep be -- -- we're keep a at that us, our motivated? company we of So look I'm want to have keep we I do inclusion. people I blessed think can what area. it to flat? grow a to best people And and

I many they are want And many, when with selective. to the be still people do we want So match partners, think we we opportunities, things We that -- we and but can want best we're -- at culture. but acquisitions, us. very fortunate the if we we look sometimes, enough shareholders, define There's cultured.

is saying going we thing. no. deliver include to do going these We to value. We us to just "You our say someone to if people. everything," -- want deliver We're We're want us, to add you So let profit.

our they And in best, and with is, people. their they're want things. so their But I our to if if thing know people feel part like motivated. and our -- included, called all our like have very that's why lead. key much partners survey our are to And about so people, leaving that, of partners, going employment. with and shareholders, feel they're if do their they're reason have our touch best everything want [ph]. we you worry the you flat I to how -- tell think is to you the about the stay And driving the vertical feel to you like why leaders don't with to jobs we're leave say, they do people do key company macroeconomics. I people XV and and say And you relationship to supervisors. this or I the the They're

It's And to shareholders key we It's our have think accretion a created. do everything one, second We that want about the dilution market retain to our people. not and that to an population there. blessed have so so demand to have does them we're market of that a And we to we And want I services infrastructure, it's provide. acquisition. in driving be be thing, the that's we have we to twofold: can worry in don't company. much and

mean one It's kind in of we're the hitting a So just times. the really -- -- us of not other. but head of in we I front are. sledgehammer number foot what That's it's Rudy, the

that You don't again. do

our motto. So over the that's been years,

Rudy Miller

Dickerson, one And is let this. questions. person two why let rephrase -- questions and is, next short follow-ups, to number -- the I'll with me that go you

the as have you to in are you're and subject record always are With negotiations, coming because with you in. -- proven diligence, track which those completion you're acquisitions made and in and negotiations

lower-priced But be against gives competitive the they where to basis, economically are on transaction acquisitions early with shares And happens in what company. those competitors -- competitors? in that larger company happened Journal which California, looking offering of XXXX, I'm Inc. engineering I fact, to Laboratories It the an article choose to back the small compete In be and reminiscing you U.S. Wall back business, said at go which to Dickerson's you? company how selected a fix acquire ability services Street article. I'm on you bigger a with in able

Dickerson Wright

blessed is you have it's to are this Well, door walking in -- out market of over. night, people those every -- but assets win and in the of assets fear there we

They So our contributing to they most and the of they success. part to have that know to that your sell that they're it. want a people of people know want company,

to we they put to people of we in why put And we -- a that's want to have why it. want want part part so put of want to our We deals. shares, They're it can the stock know and that too. that's

contributor of told was. a don't there's is. good, big that he they it's dealing be what -- contribution what a -- once -- manager with they're of we and his completed by have divisional appealing I most left so problem to, reporting after are larger recently said got idea really young to a be was And as person manager people larger He dark. to know don't was going He company. it in had was his a really -- very second their the to the that not or regional because engineer And what today companies with no going

make get really future us. to the a people they -- chance, the with business us, they built really of the we capitalize but on have that So joining course, feel they

we try on we to diligence. probably than deals And still really sell. And anything no lose way say yes. what so times And rarely, more that's under to don't we believe due -- XX if me, XX We we we say ever, have price.

Rudy Miller

competitive all it fair average you that guess, track culture the boils in to be down from to So as down record cases, I it statement? may some historical continue perspective, comes a investor exciting mundane and but be a engineering -- execute. Would doing to you're and since services not to a that

Dickerson Wright

people. I think is lot a it Well, our of

to... I want think we

Rudy Miller

I Well, the people, revenue. is that don't culture deal of your Without mean, right? people, the you have whole

Dickerson Wright

we keep gaining Yes, good people.

know... yes, so I I don't mean, And

Rudy Miller

okay, that Well, -- I...

Dickerson Wright

for We works what us. do

Rudy Miller

competing are. do, that's you're base it. think against Well, that just gave companies financial other is you how are the larger And components major in the much me to you to key trying what than I'm I

Dickerson Wright

Take much in companies large are the [ph] those now. case listening station right

Rudy Miller

the big okay? a on enough write just seller, Well, check

Operator

Thank like the hand you. Mr. to I'd program today's Wright remarks. This does for conclude the question-and-answer back now program. of any session to further

Dickerson Wright

us everyone, today. listening wanted such thank we've have comments long had our people think because been in thanks that and to and with you, were to I the concluding and and people of investors had the many a we've for cover and call and Well, time, I questions Many asked. -- points of analysts for comments

let me recap. So just

a includes company, company to feel we're that together. inclusion. be and We that an in our really organization this people to of try we retrospect think have people. try I to We part all looking of at want

that interested and access employees. leaders we it's the know of in inclusion of know of So are those our inclusion to -- that it's it's of shareholders really people We most they lead have our our that they to, doing. and inclusion all, clients, that are want our what

to the that company. flat good a organization, that's have I -- responsive, people want know So more we driving try to organization we really be we and want an by engineering typical We do than think this to having young people.

about the with our are and us be And of You some people grow heard intelligent, to wanting all technology. Alex these drone doing and we're that coming things to wanting surveying very company. that are from with mention the the

we that with successful with touch feel that, do as as we long a our will key long stay shareholders, touch and as can we in very as in I can company. our employees have So clients,

we years, of to the So that us want over company will grow company thank to a everyone try grow for we the inclusion. and to you've company, continue the and the support given

look today for to at forward comments speaking questions, So and your to -- the in your and we everyone, quarter. you thank fourth you, the

Operator

Thank does participation the you, ladies and conclude in gentlemen, your program. This for today's conference.

now disconnect. may You Good day.

NV5 Global (NVEE) 11 Nov 182018 Q3 Earnings call transcript