NVEE - Earnings call transcript Q4 2021

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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 Fourth Quarter and Full Year ended January 1, 2022.

Joining us today, our Dickerson Wright, Chairman and CEO of NV5; Edward Codispoti, CFO of NV5; and Richard Tong, Executive Vice President and General Counsel at NV5. I we'd now like to turn the call over to Richard Tong.

Richard Tong

Thank you, operator. fourth full NVX's call. XXXX to everyone quarter year and earnings Welcome

business These differ today's file we subject to risks expectations statements contains future presentation in like reports on to slides the Factors these SEC. I and about statements cause financial actual that everyone company's Before would and discussions are to remind from proceed, management's could are based with are on uncertainties. that today's the and current performance. results and materially included in our forward-looking

presentation, adjusted NVX under the In promulgated financial A financial as the of being Exchange During Act in measures references defined and in amended. two the and this between G to otherwise GAAP of earnings margin. has provides XXXX www.nvX.com. GAAP today's adjusted financial as included XXXX, full EBITDA non-GAAP this per quarter and to NVX into supplement provide and this full that made adjusted against are to available measures results. stated, website company's call, year measures non-GAAP measures comparisons all EBITDA to will additional references they non-GAAP share, Regulation being any Securities is non-GAAP financial as in included certain note insight on be are discussed. Please The fourth reconciliation earnings measures at XXXX fourth financial year comparisons quarter and release made XXXX. presentation unless are the XXXX NVX's

not substitute not and tools as have considered be in for in limitations or are measures accordance non-GAAP should a analytical GAAP. However, isolation and

and those in which on NVX website. accompanying may ability the presentation also provided define section the compare investors the via by this webcast companies. available company's today's are In addition, A to peer news non-GAAP call of link Investors of limits replay of measures companies the measures its to non-GAAP differently, of used other release

Wright, review for for Dickerson Dickerson year NVX, comments Chairman go call call open from quarter Edward Officer, full fourth comments Wright turning the the with to call the questions. over then a ahead. before of of and the we Dickerson, results. will before Financial your please begin closing provide will We XXXX and CEO Chief Codispoti,

Dickerson Wright

thanks Thank And to conference. has everyone that you, Richard. a join special the to for time taken this us

Let's start was increase XXXX. XXXX where significant we'll X full deck were the results. revenues turning by billing though even Total the Slide one discuss year XXXX, in investor our year $XXX there million, week less of a over

of increase as was XXXX. EBITDA course XX% million, uncertain We XX.X% of an XXXX. EBITDA adjusted $XXX a Adjusted was over compared a year. this XX% see environment Our percentage total to geopolitical revenue in

record with including see opportunities. However, our and to a opportunities, of grow pipeline $XXX opportunities NVX is many backlog entering strong services We of a in position ESG and million NVX. XXXX infrastructure throughout

and for acquisitions. are through cash also flows an strong only these great grow and Our not as cash mergers but times, support position in a to and certain opportunity serves opportunity

by in our later be Chief enhanced Utility quarter to Officer by further discuss of highlights to and results initiatives Financial we'll specific Page four Ed Codispoti, will funding Now turning and this growth XXXX continue will discuss expand Corporate. on X, specific the opportunities. services supported presentation. NVX

results We also our Group. exceptional continue to see LNG from

adjusted in and Services. service acquisition the a in XXXX expand look Group Transactions had offering Estate record December in of to EBITDA We in Real this XXXX. year Global Our revenue, volume late Realty with

for improved Geospatial organic growth for the in XXXX. Geospatial and fourth We are our to Services pleased quarter. Group growth the significant look profitability forward see We to continued in

the the Environmental growth through acquisition key Growth acquisition EHS a has upon further Services earlier our platform for built been XXXX. also with in component PES of of We NVX.

in acquisitions XXXX. eight closed know three you December lists Page that completed the XX, X As were XXXX. acquisitions we

into and to the let's the the for strategy process subsequent integration acquisitions and Now discuss Page NVX. turn X

strong team. we target? competitive During profitability, Does a something NVX right, It integration executed one the a blue-chip process, integration The Organic give these up these we of in is most companies prior the our On the a that in positively. NVX, questions organic is over and What [indiscernible] of is reputation the process shown Does our of of diligence by growth of years many of acquisition XXXX, fully our integrated edge? are over recent firm XX questions period discuss acquisitions. cross-selling, developed to dedicated a adding acquisition the in on acquisition. with begins target client ask our example which a acquired cross history X, culture the The through by base? have and we depicted the process. selling to a acquired answer Page to also due the of part growth any year. process. An is is is

Page million. in revenue over last see years cross-selling by from in And will investor intentional will on million our information $X approximately added XXXX the of be the overall success On see for deck. You'll program. you the X XX, This found an the participation two goal is our program. $XX cross-selling Page

growth to anticipate XX, organic Turning XX% we you will for to Page XXXX. at continued strong of X% see least that

Ed? has growth over utility corporate, XXXX NVX the CFO, discuss presentation presentation. organic utilities, full and and which to two in will geospatial our will selected funded an Codispoti, our EHS the I Ed we initiatives now and hand our in provide services year of later geospatial. and NVX overview to by We performance. QX growth focus will specific services measure in infrastructure,

Edward Codispoti

everyone. good afternoon, Thank And you, Dickerson.

the you year-end now turn financial presentation, of I'll some would our to highlight XX please If Slide of results.

the to can in in fourth million of in over first income, the fourth XXXX, XXXX, million Looking XXXX period at as quarter of a same fourth increased by of the than quarter XXX% gross Net quarter tripled the compared to quarter XX% revenues our we increase. results, fourth the see increased XXXX. more that it for $XX.X $X.X

Our of expansion XXX This adjusted gross quarter from on points. to the EBITDA XX.X% of fourth was XX.X% basis revenues an increased margin in XXXX.

per earnings share a $X.XX per per quarter. in share to fourth XXXX quarter, from per XXXX the $X.XX fourth XXXX share increase. fourth GAAP And the XX% per fourth in $X.XX adjusted share our quarter in share the Our per increased in share cents $X.XX from to earnings increased quarter XXXX the a

This that determined, less affected For one XXXX to the fiscal growth our but XXXX to gross the X% note year, the $XXX.X due had million week our $XXX.X increase, increased during our XXXX. full it's than a year important in million week way that to from less represents one so comparisons. years are revenues

Adjusted income, EBIDA more net in increased in to Our to XXXX in to million it to than compared XXXX doubled $XXX.X million million increase. in $XXX.X $XX increased million XXXX, $XX.X XX% as compared a XXXX.

a of to to adjusted compared per see in our in earnings $X.XX expansion. XX% comparison a can increased in share share cents Slide compared margin compared per results to On our $X.XX share to increase. XXXX, in a in XXXX. basis of $X.XX XXXX, fiscal XXX deck adjusted XX we Our earnings compared the increased GAAP per per share share in $X.XX increased to a XXXX pre-COVID XXXX XXXX. share per to And XX.X% XX% EBIDA point XX% to per XXXX

our revenues gross showed our results see, increased can have as growth we in substantial XX%. you by As

a EBITDA cash the in March share our by XXXX combination during GAAP you increased XX%. net And have the per primarily can Cash reduced million which from and our adjusted are the business. in flows driven were flows from our in our XX%. timing $XXX future Our $XX.X of per capital growth. And that doubled by of of well by We from were increase XXXX million positioned increased adjusted by offering increased $XXX.X million down secondary see to than XXXX, by to growth debt as share they XX, income adjusted On increase. XXXX XXX% in XX%. more increased working EBITDA. operations, operations XX%. weighed in by earnings earnings that for we important changes, of It's of Slide our have also flows XXXX from note cash a XX% through operations

Now million our minimal EBITDA. hand of times about adjusted net leverage of with the X.X year of fiscal the of as and end $XX cash on

We have substantial able we fund operations. from acquisitions cash a our of are to scale reached out and where growth initiatives

result, to we feel XXXX. into well-positioned that a we Wright Dickerson comments. for Dickerson? As back closing growth going it are now some turn for I'll

Dickerson Wright

Let’s Thank future in turn to feel confident you, success XXXX? Slide XX. do Ed. Why we for

current to environmental see anticipated a to anticipate group. organic growth record transaction our GRS of current acquisitions million EHS You will enter while our new strengthening markets backlog and $XXX geographic better will by to and to XXXX areas. also robust. our expand service existing service to transactions nationwide support The supporting Mergers and are We vertical budget. platform the be continue acquisition services of

is and very share We and million to earnings pipeline XXXX. for firms Based of million the full in assumptions, fact are final Our full. due of year adjusted giving per have $XXX gross we facts year these of diligence. share $XXX upon stages guidance $X.XX full in in revenue $X.XX for to

Operator

question-and-answer we conduct with line Lake the time, now from Capital Your Markets. [Operator Rob our this question of session. comes will Street Instructions] Brown At first

Your open. line is

Rob Brown

on results. congratulations the and afternoon Good

Dickerson Wright

you. Hi thank Rob,

Rob Brown

your the What areas M&A are focused I get XXXX. just How color to at is of you more there thinking looking wanted on on? point? a this little strategy sort for

Dickerson Wright

Rob. Thanks,

fortunate. We are

are As mature you and we – the now well six – know, verticals we’ve that have pretty our verticals established.

the and have at selective. we look to now be opportunity So very

will in and turn company. acquisitions niche what us to the first The new is support what into and And also enter grow those platforms. second, let will markets enter

can we So very selective. be

EBITDA high acquisitions. at looking We’re

We’re existing later overall barrier other strengthen areas. acquisitions. to a will about we’ll speak entry some to grow to initiatives the And we into looking that we’re that high looking of platforms allow have. And us at

profitability at of platforms now looking acquisitions So to looking and to grow were the although transitional verticals. and the NVX, the those the we’re improve existing we support beginning

Rob Brown

Okay.

great. sense or very seeing. the the quarter. margin managing are what cost wanted you the through And then are in them? you’re gross pressures – and good cost of you’re how a of and to you I you’re – just Okay, seeing managing how And a through had them seeing pressures in terms you get

Dickerson Wright

Well, yes. yes,

say first support should just services should be me Let scalable. be businesses and that

the in we you anywhere in increase that mentioned in think those investor rising we in the see we from growth deck I And so or have what we corporate, offer services profitability. be that should near not the and about – cost and

and we the So we things more and – profitable. to look look that we grow, scalability be more for help efficient more for look that us can the be that more should we

So margin as we go see as – hopefully, you’ll grow we our increase in further. continued

quarter slower speak the our business, think of our we and as first Although, the increase profitability structure. see gross many we is of – the quarter we of our should the of that and times by year, but the the margin usually scalability shall

Rob Brown

turn over. Okay, great. you. I’ll Thank it

Operator

Chris Your comes question with from the line of Moore CJS next Securities.

is line Your open.

Chris Moore

good Hey, afternoon, guys.

Dickerson Wright

Chris. Hi

Chris Moore

Good few a Great questions. for quarter. afternoon. Thanks taking

know the the right you’re in So high to maybe and just you, it direction, the XXXX obviously, Can compare segment how of there with just start like exciting XXXX, about margin moving there. you I really it expect things talk XXXX? to seeing geospatial lots and momentum half that was of you sounds maybe second

Dickerson Wright

presentation. this the Well, looking growth, geospatial strong later budget and a from of are a have portion the things we we’ll speak XXXX. we in question, shows really good They in organic your last special that initiative. – with presented There’s of for

and grow made producing some their geospatial corporate activity which for to helping geospatial have markets in also in acquisition farms. offshore gives offshore, investments growth deepwater part a of wind And tremendously surveying. the energy in on We areas fact, of has the the been geospatial the that we’ve that, wind Geodynamics,

we’re we are last this we’re we’re from very geospatial significant expecting year? that with growth where pleased being the them without as year, So and specific, in growth to too opposed seeing

Chris Moore

helps. That it. Got

three You Global like bigger Realty the right the the did acquisitions that a coup Services. at – was year looks one the of end

there? It And XXXX. prepared – Realty, GRS you correct? talked transaction your it with about Global if like what looks revenue, in of close first was significant businesses be as kind real your that what I’m fill estate So does XX% basis it of this service looks to of secondly, like in offerings, all, remarks, could is

Dickerson Wright

will insurance transactions. Well, all Services Realty is to where Jenny that what revenue. that close XX% existing NVX attorneys and opposed Macs, working concentrates was GRS we operation our as obviously, federal Bock and really And Clark is feel think as be Clark different to estate the Realty call transactional funding, opposed real we is Maes think the are we’re we and to of Bock enhancement the both the or that But It to markets think the rebranded Global our we services. correct. soon Services, we support mostly to more Global and companies, with on the and Freddie in that the

will organizations. growth, backlog much or organic burn. that of complimentary. be don’t is And churn from much are have we’re in Services good look Clark really you so in really a Global the but can’t although anticipating for So backlog, we whole Realty those because network a They backlog, and think stable to some produce two combined we Bock a year looking at too

Chris Moore

that had they think Is little Last million Got just reasonable for one $XX which XXXX? for the capital it. helpful. That’s working me, good. was flow build. level cash even I year, quite expectation for a And free

Dickerson Wright

always I’m question maybe far that but are how and ended respond. you that as now can optimist, we and to specifics you result, the as turn we internal where Well, I’ll Ed of directly

Edward Codispoti

Yes. would continue I Hi, expect Chris. XXXX to increase. to

seen over EBITDA the it’s for and nice cash you straightforward our our think two You’ve cash flows us, pretty at when flows relatively trend years. CapEx looking last a stays a our our consistent. in about And

grow we I And track along with so would as cash expect to the EBITDA for that. company, flows

I all increase expect would being I equal, year flows year So or in in else this cash – next XXXX. an

Chris Moore

appreciate I guys. in will it. line. I Got Thanks, back jump it.

Operator

Capital Martin question Partners. next from of the Your comes ROTH Jeff line with

Your open. line is

Jeff Martin

guys. Good Thanks. afternoon,

Dickerson Wright

Hi, Jeff.

Jeff Martin

perhaps little a growth believe double-digit more. to months wanted three from you lot marks XXXX to ago. down I a drill a expectation acceleration for on were geospatial months what I six thinking of Dick,

comment we of could were words, lot if geospatial backlog that specifically was delayed contracts the you first way the part So a to the back I a other wondering In have you of and into level. XXXX? secondly, normal could And that. kind in recouped to federal a of

Dickerson Wright

you. thank Jeff, Well,

– that you question, one we are answer the did You are correct.

organic a geospatial. you received with from truth double-digit anticipating had We’re that we budget we’ve ground what the the growth and we’ve

that. we’re new delayed So that were of? consists work excited that they It that But about really and of anticipate. consist projects what does

at. what looking some work of new that is And we’re

is up wind the are we’re later that work our now lot Geodynamics New we little coming a coming initiative bit deepwater that from going to where to of an able And work. is acquisition, speak a geospatial initiative. do on from energy

to geospatial and that the to combination be organic the this the second half that’s expecting So and start is to projects from that, year the going we’re to delayed from growth that they’re began come off the in fruition of year. slowly

it’s a profitable nice organic double-digit of are anticipating the and business. see that growth, a very to So segment it’s they

Jeff Martin

other And my of Okay. then M&A side around question the the business. is

think by are but been as that marks has like larger are and I spectrum. that, in primarily the I to Sounds niche $XXX side really $XX you’re the of acquisitions – revenue, million margins, any focused to pipeline mean, accretive are the that on end in the there million larger on some

kind the if a larger than the Just anything under hood, get curious of pipeline. look in there’s average to

Dickerson Wright

is. Yes. there Yes,

million in their it I the think the in let’s call some but always on of we queue. a at we three they’re the comes $XX acquisitions three over smaller all in want and quarter. that in are to now – are or of we’re acquisitions ahead just the particular third in that there diligence further don’t I in due the have how looking ones, larger are Right small; And game couple revenue.

diligence year. now – by that and where But had And active fruition right I opportunities they we established we these we were larger niche larger as the me that made, have at the we some is in have comes it verticals and look for acquisitions, go us that very these of nice breathing that now. can are of see for for first platforms as comment the targets. the these wouldn’t room to see what really we high due some to in mature gives what go saying we we’re acquisitions let’s profitable Let’s seeing have in that before some

think for some America So activity. M&A Bank acquisitions. have we interest speak the we’re GRS for leaves million but don’t make excited. acquisitions it I very, can paid a stock rate credit good we want restricted this, are that we in active about, but come of was that no of some an for and that acquisition the would of of, we mostly opportunistic mitigate smaller specifically, risks what out was very unused flow, mentioned very still out, that We and to that what to comment line Ed of the in but we’re done And I very, but in And larger but cash. on that didn’t was given we’ve that very of of $XXX us could very position speak cash stock

Jeff Martin

That’s a helpful. Great. strong… Thanks. Congratulations very on

Dickerson Wright

Jeff. Thanks, Thanks.

Operator

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

line is open. Your

Lisa Springer

Good afternoon.

Dickerson Wright

Hi, Lisa.

Lisa Springer

to wanted you business I And center about XXXX. you? is an were that as strong in expecting commissioning U.S. data ask stay you segment. in the in business XXXX the that for engineering if outside Can trends to and primarily they

Dickerson Wright

the hit acquisition a our view let’s there’s very firms of of known have lot and and would the high different we’re data of that data really work. in taking had work but center with if as of looking all a we the know, we the tech still doing market, you with earnings. of Most valuation, the to the stock things. have the that firms can’t kind it’s companies – Well, specializes well we that you a know their names forward. although, that is – things, high mention tech a to start – And strong The through been AT lot we obviously, very there’s have specific ours continues names, of think of move very clients mention we’re center I did

firms the known use. One data is as doing that also as we’re work in an allowed a work well work center of name a U.S. far those not to of lot is that

are opportunities, So lot data going about right where now, done for is have being specific the Singapore a the with but area of a internationally, in current work lot the are things that of domestic excited we work. in we commissioning a center that’s it’s of these on majority still very very clients

Lisa Springer

you Well, color. for the Okay. thank

Operator

question the Riddick of Your from comes Marc next Sidoti. line with

line Your is open.

Marc Riddick

Hey, good evening.

Dickerson Wright

How Marc. Hi, are you?

Marc Riddick

good. Good,

well, – you really let Yes, call’s this So good. so so will know I when far good. over.

XXXX. could seems So I set. visible put you the your that wanted that some commentary on there, confirm the the around of goal the I as on the now be have as commentary your both And when it pipeline. whether was this to what could than business, as more that’s as some you question, to go because the are to sort the the case. views seems originally when as that if the though seems bigger existing of $X of visibility I share – you pieces a though the of reaching wanted goal wondering give though seems one – this, It that acquisition billion It and you together picture if by just around potential was thoughts backlog,

Dickerson Wright

And organic do verticals established. in be now are to do revenue. come $X of was think came by that billion the M&A in will grow to little from but billion track And looks going looking that not Martin a reaching the that well along like our we type XX% people, and end that, growth established, our in questions to be we’re more on more organic XX% that? $X total We we in the think a and coming activity, acquisitions over going quite it ground lot continue and to had we’re XXXX, goal of total, we come that up, will the well the to from on and for of some and it’s it Jeff we’re when growth it think acquisitions I Well, Yes. it’s way where was, from what from it’s through previous way. of this

answer from certainly billion think XXXX. intentional being to And pragmatic $X by we’re have to backing away about your we the good not question, approach that. a So I

Marc Riddick

one of initially. as you’re maybe that that a on could since the act maybe talk as even areas. And last maybe little – as how me, wonder as Great. what little active customers share some path, patterns expecting bit a what is with you spending then or us far your as from far that the noticed just about firms you as could there infrastructure ground different I were as seeing any maybe the Is change priority the are you or you’ve anything far and than – maybe Thanks. if

Dickerson Wright

Thank perception bill, we’re In is now right seeing you. the infrastructure reality. Well, perception. what is

or use don’t good to delivered when that’s safe need going think speak But a so not that to funding. process amount takes it’s having – tremendous infrastructure of need. where nice bridge it’s know matter. to of work much there’s worry we to by infrastructure a A returns to speaking tremendous or had projects but of was we expecting infrastructure government don’t our to have the so These And infrastructure now on good that be a water, people that clean recognizes headwinds immediate they to because it. not although, it’s be any transportation. company things more work. Before shovel-ready economy the not in that positioned permitting lot appropriated, time. a amount be, is and we or in see, been have about about but not of the for need federal worry It’s I’m the markets to there’s we’re a so drink bad has that space, to funding spent, be lot economy, in the that being for always the of, a good go identify we’ve not going People – to

things leaned are improvement at always in and And that growing a the population. towards company so by looking positioning needed we’ve infrastructure

that funding So not seeing it’s but that for we’re infrastructures to recognized, being work. nice see any immediate

Marc Riddick

you. Thank it. appreciate Much

Operator

next question the to of comes Andy Your with Baird. Wittmann line

Your line is open.

Andy Wittmann

Thanks taking get some this little a Appreciate a sense try questions I guess, wanted good my more I Ed, bit out for to of get numbers of it. if quarter and Great. possible just maybe guys. to afternoon, the here.

I the first quarter? XX-K months the about so revenue to you related from how rate So organic good just past much will in that in could noted sense having the get the the XX acquisition, companies a what be in growth acquired as was talk come that we can of

Edward Codispoti

how $XX Sure, year just It’s the XXXX under Andy. Hi, are you? those for out came acquisitions. of million that XXXX

Andy Wittmann

is next it. inorganic words, towards does acquisitions What year? of this And be that acquisitions in from were the contribution mean? XXXX much In then revenue that Got from revenue guidance closed comes what that inorganic. other will how that’s

Edward Codispoti

maybe or it’s for For of $XX $XX a under maybe those when million. acquisitions, the about think bit XXXX, rate less, million we’ve got, an about run you let’s all just so little see,

Andy Wittmann

numbers Got it. the the in reporting? that liabilities adjusted do the just if or else were changes existed the was reversal that Helpful. to go were where quarter. And then here? then included want noticed, of were I And you just in from quarter, on they I any there contingent And realized any they let's excluded see,

Edward Codispoti

Yes.

of terms one earnings and back cost million the flowed adjusted on acquisition. income part there statement, per purposes contingent share for the a of there of that but through initial So adjustment for to our one that we consider an considerations acquisitions contingent it because up are the as related acquisition was us came with of G&A added is $X.X – the

Andy Wittmann

it. Got

payouts were were you – So these to recognize. that these had

expense then numbers was and that cost out the there out was cost backed adjusted SG&A, of a backed incremental reported. basically So in you

can of the Just make how what terms sure guess then much adjustment right is was backlog, I about Ed, okay. And of want inorganic of there, quarter? I to talk the – Just on the the maybe do do see the direction just to here? way I want let's the backlog fourth you in had in

Edward Codispoti

the acquisitions recall fourth GRS, churn few Dickerson really year-end large – and doesn't was about it right. backlog have and spoke which doesn't more those it's this with a minutes the So in quarter, burn, you if associated ago, of but just a because largest it

And so over it's contracts. long-term high quickly it without volume and

So three was $XX million, backlog those as that you lay high expect, as about the into that's – year acquisitions. those, as might is tied not it

Andy Wittmann

very you very and good Okay. evening much have All helpful. Thank gentleman. a

Edward Codispoti

you Thanks, too.

Operator

This does conclude our the Wright Mr. I'll remarks. question-and-answer back closing to turn for call session.

Dickerson Wright

be company. their Thank little because initiative what that. bit did about a what affect for concerning want for the let want the We looking budget. people a speak to corporate? to funded don't you. grow unit would grow We business help not We and it we an to would grow they think organically, spoke the initiatives would XXXX. The me that just initiatives us company – initiatives be earlier by So

we've be decided what would all initiatives that the company. we things all the grow – had, that our So really of could

and NVX one we center shared and we two one by So Utility the for service paid specific initiatives So areas? Services. the geospatial in two in for have or the corporate, are specific had that the what

asked initiative. what an And speak supported I've as Alex Abatto then of of initiatives doing by we're Mark So to far the that with with what as will far Geospatial corporate. utilities as we're as speak were doing

with geospatial ahead perhaps So you the can services. Mark, go

Mark Abatto

this leases The will U.S. There catch counterparts Dickerson installing is wind looking last capacity our energy along another the in support up it's XX hurry. behind and but to progress just expand week. Seaboard closed a Eastern alone projects alternative, its European in existing clean market. energy The is investment far that to are in six that Sure. referring the offshore to are

awarded that So capabilities will corridor the a substantial play is highly specialized acquired the NVX survey hydrographic the Geodynamics growth. acquisition. and role geophysical environment poised near-shore we in this the market with through for segment to cable been significant decade. $X attractive wind offshore date, position us make this along to over market contracts the over investment million with grow energy next We've the in to and we're will going that

Dickerson Wright

speak can to you perhaps the other a Alex, expanding helpful. our utilities. services very in was That little we Mark. initiatives have you, concerning bit Thank

Alex Hockman

bit piggyback a the Sure. are actually for traditional geospatial. initiative type on There's services our work. all it's the geospatial and as just had to Actually both of what of well said great business as little for core Mark lot a that our under for core business a opportunities

Specifically, a able United looking robust though expand to group developed have San in our to we for throughout core, as particularly be operation, that utilities we Diego the States. power are very

that throughout in is California, investment well. California but designed as opportunities We and the that have huge services Southern see to we not promote Northern for in we United just particularly, operations the an States provide utility

Dickerson Wright

Thanks, Alex.

we you want an So on and year can that initiatives and our see beyond be intentional that organic to impact feel and then have in that. really growth support XXXX our budget these we aggressive can

So anticipating successful are a we XXXX. very

also some that the COVID, to was impacted and we're further. a by growing out coming and We impact in see of see starting of positive things areas our service

coming our work impacting far as things and the Technology Our support We're see of We starting impacted MEP industry and the hospitality building in strongly. group. to technology business hospitality and the expansion the to our back area our and services see downturn by start area was hotels Building, Group as program in in and in MEP that and the the hospitality gaming our management Group. areas and were various travel work

area see we budget our that So positive for XXXX. effect on of a

growth see and year had the a number offices LNG areas. So, in our of organic see growth. utilities. we different strong We work. a organic see We good a also in growth in very organic We

ESG as that And opportunity support we in to an but expand way to increase environment, as only on they a our company. visibility see of and look many also supporting the environmental the think with grow will environmental, We we services. our and at to also not companies our focus

to year. organically, want the a be going very So about is robust it's I and really have to work a pipeline think bit, we also that full. little we strong very talk But a M&A

to aggregator. that want a We in We to though. targets strategy. considered now be ring. The we're like have going roll-up thing, many And phone We we really are are opportunities. the to don't mention I very an selective after. continues one

long very a been at team Our time. for has team, our this

So increased measure we're the how that can deck, looking opportunities that and program. cross-selling acquisitions on of that is we've and cross-selling our the has investor we will targets our some offices the of for see want look really organically grow the you we family. doing that, We cross-selling the to if our growth you that program some which and see that are working all at of had through joined the internal program, organic for that

look for the that client these strategy to had, organization. that companies, then there be look include the strategy embrace structure in things they've base and first the for those really good has at profitability M&A. So the how them a for look the do really are opportunities, And is to we is

pleased growth for very, and XXXX. have of we're forward what to want can and process. we looks pleased that much think we're opportunity very the a where don't good I with to very say organic we we're very too budgeting So the M&A the and very doing, what look go quarter we pleased growth, grow. with like, about We're but

so And to be year areas we're looking the seem growing. neutral of be this to at that some

to people; think all know do them the let I been for our working overall that I but us it this? long we we how really together is company. do to have people organization. We all thank visit in very our Everybody that benefits hard. doing they're everything our a really time. of want want is So, because working with

the call, with everybody have my So to this good time for having speak our all you gave opportunity about company. us the forward NVX we that on the a people that I second and thank thanks to XXXX, listening people and investors first you very to been I to want to are thank to up, successful out the that go want and for and look

So conclude to I and think coming that's for months. that everyone talking everyone future – look forward in the today, but in our Thank will we you. seeing comments

Operator

today's concludes This conference call.

Thank joining. may You disconnect. now for you

NV5 Global (NVEE) 1 Mar 222021 Q4 Earnings call transcript