NV5 Global (NVEE) 7 Aug 242024 Q2 Earnings call transcript

Good afternoon, everyone, and thank you for participating in today's conference call to discuss NV5's financial results for the second quarter 2024 ended July 29, 2024.

Joining us today are Dickerson Wright, Executive Chairman of NV5; Edward Codispoti, CFO of NV5; Alex Hockman, CEO of NV5 Infrastructure; Ben Heraud, CEO of NV5 Buildings and Technology; Dan Levine, President, Geospatial at NV5; and Richard Tong, Executive Vice President and General Counsel at NV5. I would now like to turn the call over to Richard Tong.

Thank you, operator. Welcome, everyone, to NV5's Second Quarter 2024 Earnings Call.

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

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

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

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

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

everyone call for this Thank Richard, and we thank you, joining us today.

we quarter of quarter, which Although second increase represented strong successful very we the results the organic a second [ to ] and further demands report growth meet profitability, the half positioning to are the flagged the NVX for of expected year. second pleased

deliver many Day was a on in July As our confirmed better attended, NVX position Investor Current which of on of not but the The years being energy for tremendous year, and conditions XX, demands delivery. and half growth emphasize know global positioning has of to technology services. these you using placed the market only infrastructure goals an have for come second our this X and NVX in to mandatory the production business. held population

services. NVX of model aspects delivery business and all the strengthened and have has We energy all during proven a infrastructure This to be conditions. production stable very economic

for and this, As example an the QX second last of X% backlog, million of of quarter increase over over has X% increased year, $XXX the represents to 'XX year. which an our

quarter Slide are our Environmental Quality Technology. on Construction Infrastructure, and Geospatial These the combined business: X Technology Building segments of Assurance, the have Geospatial. X, see and Sciences, can for and we Infrastructure, X in of NVX verticals: by of Utility X you As second presented and These Buildings represent segments service Health our accumulation performance totals XXXX. supported Services,

segments. the verticals each of report will second well goals these annual as of We future these quarter and as for performance

offices. a of of the competitive convey these other all robust program our how deliver each verticals also work results our to advantage to with will through effective meaningful We and clients cross-selling

to discuss Hockman, CEO be will presented of by which our segment first is would segment, Infrastructure. The we Alex like Infrastructure

technology to verticals. results Alex? use the discuss only that and receives how our cross-selling support the second results, deliver not Infrastructure other will these We quarter we from but

XX% Thank you, our of and reported accounted Of XX% X. in business gross provide $XXX as engineering revenues. assurance for market an design XX%, units reporting Infrastructure revenues surveying, revenue. QX by X that construction Please Utilities Geospatial note, quality revenue with million include Infrastructure segment QX in and comprise generated and reporting as a Technology verticals turn of Slide which end segment were separately. that were to services this generated associated Dickerson. our are segments QX. The

key the In left growth focus on sectors of shown discuss these to of lower each initiatives established slide. will targeted briefly XXXX, in this initiatives. we I

facets X, Slide addresses to many built sustainable world. infrastructure turn the you If of our

which One of the technologies profitability in allow platform ways the that from tools and scanning, technologies adopting construction for has reduce to refine leaders and and allow resulted And and include costs through the increased be design process to use to is to in the phase. enhancing understand and -- our which infrastructure we in readily and conceptual of are the us These design, proposed operation images visualization of modeling construction this distinguishing growth. stakeholders and proposed XD designs. delays in create

Slide integration quarter, CHW, which double of strong the our to the plan profitability. in Last X DOT Jersey. and these municipal are we and of growth solutions provides opportunities, New Florida North the by I all in organic brings clients of initiatives, Carolina, services we to mentioned a with engineering people acquisition and DOT summary growth Through XXXX. and the to experiencing and of our statewide size success technical increase and DOT California initiatives, DOTs our

the services an asset. allows our to to integrate OpEx One of geospatial offer This us services our of phases DOT CapEx of the unique differentiator our throughout and aspects complement engineering expertise. is initiative to ability our

our initiative, secured for Some are a wins this $XX civil million been program direct of result in DOT key year. Caltrans recent including contracts that have management

in recently also DOT North million We contracts. Carolina $XX announced

identified several our utility services Slide drivers in business. X growth

demand the largest investor-owned key utilities have growth XX $XX over electricity double include the resiliency. is increased to modernization years, XX that Some agencies. for items increased utility regulatory services. renewables, forecast note high create growth from for and by our in costs is received in grid and next the to public demand approval drivers Other the demand which These drivers reliability billion proposed

XXXX. integrated Page see of effective cost of On has transmission proven undergrounding. Further, positioned grid demand utility our be unmatched and geospatial through able involved market, increased the we solutions This over opportunities mile has the States. to in undergrounding. offering vertical NVX of experience since all decreased multidisciplinary hardening infrastructure the grow been provide in examples extremely our been over has with services for a miles lines. X, in And line and to throughout result With XX% NVX's the technique analysis and to service innovation, of the and you'll well to of our Dickerson? are United and undergrounding designing XXX capabilities.

Thank you, Alex.

of will The support clients. second to discuss provides vertical how Geospatial technology go ahead. it President our Dan, segment But our segment, please core is the this key also Geospatial Levine, our Services. to business. Dan our services advanced delivers

Thanks, Thanks, Dickerson.

some please how NVX. emerging us markets for for few well advantages you the If QX turn and XX. Slide of in the these going to results all across a would use technologies as our as I'm to sector and about minutes sectors we creating of Geospatial talking are trends competitive spend

continued So in strength part QX revenue $XX the totaled driven utilities gross million, in by market. large

in quarter, from in utility X $XX over the a a the and with the sector larger large growing SoCal strong several backlog including have Southeast the totaling regions both contract region. pending We and from and wins million Northeast

ongoing and seeing times data government and in both our in as services. today, exactly federal the from flight in just in May March. and of that expected agencies QX start QX continued the I the set and defense being we records to the aircraft zone continuing flowing miles earnings end both sensor federal utilization are us These for our had a we've resolution Additionally, data with $XX of to for in and contract revenue and [ QX and ] towards acquisition mentioned drivers what awards contracts June our in is flown. call into late This sectors. analytics over from X result through million resolved experienced

Finally, in a business, contracts June, million us. and book were during $X our able turn for creating to May sector Hydrospatial over we that positive in for

please is core, at a constantly the business. XX. clients, keeps This changing. you sticky Slide next X existing about as want business turn And things the The technologies us to it best our is of with Geospatial technology-driven If that always thing. they is

in large and adopter advancing As the market, expertise we position and technologies. business leveraging services a [ our collection ] Geospatial of the advantages. development diverse ability have maintain the new in to to the a ] markets in and to These This has active requiring are portfolio Lance provides supporting inherent sensor technology the allows single of are new that our Air geospatial us through technologies. and early into types spaces advantages [ in largest multiple and the NVX benefit and Centers combine the system. access form we in

XX ahead Additionally, internally our analysis creating our keep the us thousands and use built by of solutions for These well. enduring over competition million specific on solutions worldwide production as patents. commercial users bespoke is with for we customers and our software and of X.X data externally

Building applies Slide technologies Infrastructure directly, to Not directly we developed that and turn the only the help please expertise businesses. you Technologies our XX. business but that business and Geospatial If does for to

and and and project Examples leveraging data to is experiencing centers ban work equipment are sectors. increasing into the expertise using other doing and We facilities. that cross-selling geospatial ] through [ include airports level of across our building scan technologies to that an for bringing technologies support

expand are supporting several base geospatial for And both do actively management are are work a with asset to these and technologies infrastructure sectors. and we seeing the in client in where transportation able water, assessments. we We power and team areas our data

and phenomenon even win expertise water geospatial deep areas power, supporting as This team's past. to of ability both where business we ways, attempted not the directly to were in transportation is goes work the the in domain win the

to XX. If provides been you package about by to speak leading to image software used wanted has and a our that processing customers. Traditionally, specifically scientific capabilities. capabilities research is Slide agencies. our that for The a ecosystem recognized and moment turn please large software I academia NV scientists

Hubble was example. for embedded on software the Telescope, Our

computer algorithms a becoming and the to being also medical largely our driven imaging read software. are some from is It automation. analysis X-rays by component MRIs of key

NV Our Software-as-a-Service being railways, as parts of oil again. large perform This along assessing software enhancing is in over platform but traditionally finally, subsidence and activities Back allowing to unique experiencing used worldwide and applications, The assets platform and roads over performed nonscientists you, more auto-detect our with using transportation NVX. communities tensions. banks similar the to traditional their do assessing analyses, this companies a to DoD a and it the and for and intelligence force capability for is to Work by is capabilities, more are of for world Dickerson. differentiator detecting by multiplier analysts. rising issues

Thank you, Dan.

is Buildings our Ben, please go Our results significant Heraud, leads Ben Buildings domestically second and third of this organic our efficiency analytics speak and our & technology This Technologies for using how segment increasing. seen this segment are segment. and energy about ahead. CEO and delivery and growth internationally. is will The Technology demand demand. to group, meet we quarter who has ever-increasing

Dickerson. you, Thank

Slide to turn Let's XX.

Buildings quarter of growth XXXX. XX% in quarter $XX represents second the delivered over Our segment which second & the Technologies of million XXXX,

clean this areas the digitization. are of centers, building are growth data Some energy that driving and

continued show our we growth which data million volume. To Please commitment a of strong current our XX. the X-year of $XXX our target set turn with centers, is services revenue, towards in XXx Slide have associated to

our new continuing win largest leveraging expertise with achieve grow the our will clients, provide by clients to base strong services the sector. of we to We and this within expanding hyperscale

opportunities over won pipeline center half in data the center $XX in business. to of first mission-critical our have and new be XXXX. in strong continues awards We the And data million for

are data domestic in to unused business. market We commissioning. have including XX% is of multiple factor over according and is limiting the efficiency, and in clients Geospatial recent power data help and growth the also issue and a to design centers, A market power, availability leveraging strong unlock with Twin unused delivery, positioned to sufficient currently address energy. NVX for data to of the seen our center Digital studies, which this is our lines concert our MEP lack growth the of key deliver services energy center capacity due capacity, service uniquely of to this we

forefront load facing cause another utilizing and XX, at heat with of servers Slide and challenge sector solving the expertise. issues. our complexities these to and load edge are this facilities. of that unexpected are these spikes On clients is AI NVX the bringing Large cutting technology operation problems

is highly this With of and recurring. software, use profitable, scalable the service

to operation, great our how buildings digitization very clients. is clients entire we service all is functional surveying our NVX to we XX, teams, reduce multiple improve services strong carbon deployed long highly energy bring our a costs technology Working for engage a to our over This are and the create of to example and a a able building leveraging and life On period. to geospatial Back emissions. are service cycle Slide Digital to support services NVX in puts of Dick. to our Twins us facility position time you, the with

Thank Ben. you,

the anticipate QX that listened done of X you've cumulatively together of what just the can we've for year. and then how when segments see in to Let's all XXXX put balance we we

Financial he Chief as our Codispoti, Officer, financial Ed to our listen results. addresses Let's

and Dickerson, you, afternoon, good everyone. Thank

would our XXXX I'll the quarter results. you turn XX please Slide financial review to presentation, second If of

Our $XXX.X grew gross quarter the the quarter X% compared to prior million second million in revenues the in of to year. second $XXX.X

second and Our quarter XXX million points basis Geospatial we million gross When profit second second to by driven reversal keep in year from in the please last in related to looking consideration that was XX.X% increase quarter largely our of year, to the quarter of compared results, of had at acquisitions. Infrastructure the prior this an year, $X.X our XX.X% year, million a margins mind last contingent of segment. operating of in Gross XX%. the $XXX.X expanded in $XXX.X

this the of had second year, in quarter acquisition. to VIS nonrecurring . our related we costs Additionally,

$X.X $X million million, Our our depreciation increased quarter-over-quarter. and expense amortization and interest increased

quarter you increased of versus a XX million GAAP XX.X%. This the our per to the from in year. results $XX.X year our in adjusted XX% margin EPS the $X.X as last EBITDA perspective, year, an of at quarter When As year we and prior result, of margin our million $XX.X the over income expansion last noise our in this net $XX to $X.XX a and million was out EBITDA increased versus compared diluted period. points, quarter second results last second was year. million Adjusted was share in this represented strip same basis look $X

EPS year. per experienced a that adjusted per period our quarter, Our Please keep $X.XX $X.XX this in mind in in second quarter business. the compared same in was in last share share we second to the ramp-up

we recall, operations. in quarter a as million very QX, had generated flow you $XX.X strong cash cash we If of from

cash ramps In QX, our We cash million flow was affected by generated working capital $X.X the used year-to-date, needs as of of up. from operations Therefore, second million. revenue in cash have operations from quarter. $XX.X we

strength now it remains believe Dickerson. Our positions future low our well confident in us over balance of back We it net X.Xx. I'll the growth. feel sheet and turn at for leverage to

Thank currently discuss acquisition you, our Ed. Slide Please NVX. to activity turn merger and XX ongoing to some of at

and and sector. have the the We X operations in in acquire business maintenance an reached to businesses utility agreement resources water

nationwide, acquisition utilities will is revenue services services. delivery providing staffing business. to our will and recurring company our maintenance a first operations and capabilities utilities, This energy which for expand enhance The

wastewater The a Please acquire water strengthen second Slide services. company result our our technical to The in we to is combined approximately resources acquisitions to XXX platform. that existing company have personnel additional XX. will turn agreed California will

successful a We have half year. the very first of had

over. and on stay must profitability We not focused is year the investors. delivery of the growth However, continue our to to

XXXX. to $XXX raising million of result, for a full million are guidance to As gross for we our the revenues year $XXX

services EPS are increasing is per GAAP result to And full This share. is year adjusted And a dependent $X.XX. conditions, Geospatial $X.XX you. population guidance backlog on global our for dependent direct that on year Our our have, and growth, increased full not but of which our is on for $X.XX $X.XX and is we our economic demands our to by guidance are business. EPS, infrastructure. this evidenced Thank in including

Tim Mulrooney from comes line the William first Your Blair. question Instructions] of [Operator with

the appreciate organic the that My That's of full from the an is contribution these is acquisitions. year expected pending side to the related extra improved helpful. guidance on -- pending outlook related the question is, your acquisitions? to is -- Dickerson, on it raise, business? more Or the primarily X I guide your color

Tim, we nor these the any included it's We that haven't we these guidance. acquisitions expect -- in of acquisitions include include don't latter. ongoing do the our

that or the above added So as second the just acquisitions do we the acquisitions that the And or strong half completed, have include operations, have guidance gave. is second been and we will the a pending be see year budget from over which very in and guidance these to X operations. we not guidance

Dickerson. for Okay. Thank clarifying, you

how I if if Dan. I'm the margin your the at the just dig the expect X of like? throw what curious could in today, I big time? a pretty to think us, you faster interesting. a business than if piece is thought I you'd NV prepared little that's them for Dan, ecosystem solutions and here you Geospatial important. you're And overall here that then could that to on building remarks that over business grow expect be profile is looks business larger And deeper

Really think, grow. the are margins now, that that's services. starting bit are -- question. business smaller Thanks actually the as of growing well. lot or the is is, the for services of to is we'd definitely our some to million year. actually $XX as the Software-as-a-Service upturn component overall the of the lower I percentage a than for leading see a growing implementation that relates software bigger little growing. clients, to Sure. -- software and is They but to and part for Yes. to components that of a total for the been on as part starting be have and how the of Right of And like, together the And it it's to going business they historically Geospatial, actually

the Moore of with CGS Christopher Securities. comes Our line next question from

a XXX for roughly, level? just the fiscal is growth Maybe follow-up that quick on at that's midpoint organic the guide follow-up. there, what 'XX. At A the implied

always -- and we X% Well, expect XX%. we to can

X% new You growth is look our X% on XX% can of presented second half we and the we'll But see the we at our integrate continue as consolidated year-to-date, these anticipation as growth organic for to organic as that also acquisitions. it's been slide. year the I

up sequentially it. it. Backlog Got Appreciate year-over-year.

Just trying year-over-year? it the sequentially changing, mix different to kind of understand is Is much evolving. how

not I mean we emphasized can really what technology. sure had really, we quite at but how I'm on you Chris, Day those sequentially, -- X segments and understand of within cross-sell really and -- by Investor we are this each focused we

we greater delivery we see so growing Technology see demand and And seem with Geospatial a Building of on also increased the the And and energy. the to is in servers which energy and then our domestically. dealing increase because business, infrastructure

is we've in would technology-based of I segments. So filtered expecting half say our seen our -- be main kind those that Building of And technology through from we're Services our the Geospatial has coming X all and the growth segment. been of to focus second real Technology

Chris, at about it's you and in that look a a comparison ago, versus X% backlog. increase if year a

it. Got Got it.

relatively it more that have kind is perfect smooth? back-half what where Day I looking Just in this go but you last from early? trying just Is million talked Is you're don't Investor a loaded? to today, The you at $XX to Maybe today, million X you point. know at to ramp rate data one. Okay. does years. understand -- it From it growth of sit run center, and again seeing outlook, about $XXX it

organic currently XX% I Yes, it's growth. Ben here. we're at about mean sitting

over would that it goal. the combination. period be time about It's a of CAGR So XX%

acquisitions, if the we'll our growth. be at growth a at, a of through combination and I on organic as and looking large additional will that get it So the are, trajectory pulling portion which acquisition we're current we moment. think the then continue services and keep remainder But we through of organic

-- next is smoother growth the side, And mean or you're that I that it's heavier, where skewed from X year or is there these the a you sit where a little organic at years? there in today looking lot is X on as bit it of of kind -- over

and continuing we're higher been mean into sort are, XX% particularly of rate I mostly the expect new earlier I that where bringing group. in in We're we I've U.S. services. at over starting out. rate growth would us about on The Yes. XX%, expanding talking that We're the there. stage a in regions see the is of international or new

this depend and early lot on a will acquisitions yes, how the bring those how can play growth of come in much into we they organic depending from So on will it.

Robert question line with the Next comes from Baird. Andrew Wittmann of

that yet, I because specifically yet. going talk guess, haven't you're I much on you that haven't not mentioned the just that I X and question, on be But acquisitions talk too the had a closed to annual can about closed you maybe understand purchase collectively, each for what basis? maybe for acquisitions on those a is those what X combined price individually. acquisitions contribution revenue would they expected

that to be on those. We been we right an The of -- couple is nondisclosure that agreement includes a -- term reached not agreement. a agreed absolutely mentioned were things, We've We're different really I've X an many don't closing of under now. on reached both -- lately. that things too agreement technical We haven't valuation. we've Just using here. a

and will tell whatever not see company. position you to saying these the So acquisitions. because I paid there's XXX that of Between X join as can what cannot that try but a of you can math -- by the -- as you we valuation these roughly that in want, I'm we use transparent for people to be you possible

Yes.

Maybe Ed, maybe. the to wait better. for next check to and just Okay. clear quarter then back We'll that understand quarter

how from I for in quantum as that How of You that the much is you results, understand bridge And a wondering your I'm VIS I costs included integration. penalty? onetime some adjusted treated were that. just that sorry, just back? is didn't was mentioned that? was added the your there Or cost --

expenses I referring those was the that not -- are to. back added ones the No,

And G&A, So had or as $XXX,XXX versus the reversal on in you at prop -- costs. million forward. right? of of going integration, year, had second look when about $X.X -- those this mentioned when quarter And last the a IT-type year, of you last QX was this then about I think in year so call, That up in about to year, and them get it's nonrecurring just related them in you half roughly are integrated. you

other. about also acquisition-related added because is the $XXX,XXX business. increase just We had the in over that the is quarter in of just in That, more X $XXX,XXX to transactional of a delta. particular, the cost, back, rest of but that was then we've the G&A And added acquisitions

then Ed. clear. X too, I maybe guess That's Okay. for you, And

just Just quarter just was I was like the the looks various unbilled accounts that cash projects? in of accounting and cash is I you It about looks the you're the area. of wondering, quarter. use Is on in that the talked like the doing at a looking your biggest of result burn, as year-to-date about LNG the completion working capital, you talked being progress. percentage the

I particular. account was understand that in hoping So to

it it a the -- of driven lot Sure. And unbilled. yes, by is is

So observation correct. that is

really back of continuing resolution. and ramping because they to in think but because low had up, it's business general Geospatial when that's mostly the in the that However, you particular, QX QX

right, you because from you and to now to little quarter, of go second have and the to in back cash, then collections. time came it a bit to resume takes AR work convert to that have unbilled that As

the it's what's really just a But function really, driving ramp-up that's it. of business. so And in the

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

that purchased. opportunity And kind this market gets a follow on a to the on just maybe can utility a bit on [indiscernible] that little from? market. thinking expand wanted O&M just that vertical I that Is the into of you color you that business some you

people and because in I'll sticky our us. those and are were more not lot a we a clients. The macro business is to delivering -- be to X looking positioning Well, that for we're on utility that picture O&M tends that projects segment to the It how tend we're stay. on what speak

model, most more done visibility to area us infrastructure absorbing the O&M of it's Alex, the of sector utilities hadn't maybe that the speak an business. him probably I'll will who a reoccurring gets So some of it But but before. we be of that. let into in

Yes. clear it not good be But thing point. on, No, have yet. it's X I just a very we want to purchased

agreement an have to purchase. We

NVX our don't sticky it in that closed. is of for mentioned, that already is the So within the It utility But it's an as not are Dickerson the -- utility a very it was us the family. is part see think new We operations. area as full working mentioned, as folks acquisition area market. is that time in

the able the has planned asset throughout it operated. many we're many, being years as So of of stack duration operation, the plant to

definitive quarter And to just reached Rob, just had this in it We maybe real add a not to agreement. that. if we would not have announced

it's just we team types of approval joining processes there's I not NVX It's and that we're going through the no that certain those. have expectation of But of on those both shortly. think all now. very

why when way. that's in so and guidance your clarify, you to that formally it just And in haven't they closed Okay. put

really acquisitions that has acquisition now our given we've that right used may we been people never -- budget or no at included the the know. given. guidance we the are us, operations as If we've be guidance in included or with in but really And is We that an no what giving future acquisitions all guidance. deliver want to do. never We our in then Yes. that the M&A guidance, they

know they're of We We close have in can specific never acquisitions. going ongoing month a to number what or add. what we

bit regard. little in we'd conservative be that rather And so a

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

in transactions real a about estate Talked while.

here to curious be transactions? Given the you us trending could if rate on give environment an soon, update in real estate direction friendly appears a

really very is the our annually an in I'll a roughly million had their budget in above will on group. And But represent the segments business. But back. Okay. are -- real specifically we in strong any on in budget mention Infrastructure certainly, think an in -- they're quarter, I then overview, estate regard coming the think helps are Alex really just both that estate segment And they at maybe $XX to uptick be and They've they're the that. transactional always that improving. transaction group. or business. and now, we But relief rates real interest

Yes.

is you've takes when see So estate that of and is a -- X different going significant types the come rates refinance, other business there dependent we're uptick rates transaction interest much down. is again, mentioned, where is place. on once there to as real business. the That a One is actually very

So see very for by we place. virtue that more good estate attractive become we're fact point real nice transaction. much where still very that take seeing a of rates once the business a to refinances uptick lot of a we'll But get interest the there's

Okay. handy? X the half you And during first then of the and year? have handy have Ed acquired revenue helpful. contributions here. from the Do for companies the That's that quarter you Do second

Sure.

second For quarter, months, the the XXXX $XX.X $XX.X million. the acquisitions million. X contributed And for

of mix track. It margin booking real Thoughts half on on squeeze you then Curious if seems with mix over like EBITDA help X that? is the on in nice some could towards here, the balance And of federal I sounds if expectations year? It quick. back Geospatial back the recently Okay. like margin more year. wins could the contract may comment Geospatial in the helping

half. them to because them think accurate. expect lift We consolidated would that's Geospatial stronger expect a would have to we We I expect second margins.

year, full I close XX%. estimate that come to would we'd the For

good right how I you that just be tracking a consider when now, we're estimate. think would

over have to me what same time just those X Jeff, of are of key -- year. is -- improved period segments last all -- the over pleases

our in So growth good business. seeing organic Infrastructure we're

is internationally. center we're work, that the issue continuing really data contributing that explosion resolved. Geospatial a course, seeing Of resolution have -- now in And particularly

So all contributed. X have really

So X of I'm with period the pleased actually the all segments year. last business over same

Certainly good Thank Appreciate to hear. it. you.

comes question Sidoti. from line the Marc with Next Riddick of

a with talk Wanted have bit wondering to you touch it. that plans could if was you here. little I growth on -- the about

maybe reaching any of you the goal, could at as and of time get -- you -- wondering you if the we sort as approaching about next frame will, that was I Investor may you talk might little but thoughts that bit about, the the billion if think the I -- updated on setting the talk we're that? this $X could to Day, have marker, maybe hinted a you at

key what our Marc. is investors where that do. to and accomplished. on That's than we're different the we is that's specific Investor aspirational. it's want Day the what actually question, Very to X And our Obviously, was we're that this this good we need said results goals, call to doing, and we've certainly we things. what people our

billion, the billion. we do entering or $X we'll -- be will $X the will very done. -- XXXX. that on strongly we very far it's billion of course, be have said XXXX And $X end And As rate. we run that, feel is. We the as That by of that the

So it will for be budget going $X into billion the XXXX.

they're all this So saying call going the come as goal these is it's operations. me next far coming our on it's or as but from actually is, up. It what do, people of grounds from what our to -- not

we new see at will announcing operations are that now gathered how comes But they So and is be from shortly what our goal to and our information we're what the looking the for we business. we've waiting just XXXX. see

haven't we expect yet that but collating because still the of significant kind growth, milestone, it released we're So information. we

quick others of about should we is particular moment? in that as much seeing follow-up. call-outs wondering then that I regional verticals than a way just if a And you're stronger a the spending patterns? surging at are Great. any be like far thinking the was as Or there differentiation maybe Okay. little the

you. Great. Thank

of you're then conditions. make. it company I chance it, business. some You're no, to on now, -- our got later. and a the a so I have dependent talking I'm rehost no. to being really But say that happy mandated no, positioned and much It's we not maybe comments to it But economic concluding always say -- on I'll again

budget It's need need needed. is So are bridges. over things due. Iowa, -- these the to on Iowa it's if People project water, clean drink not they a big to people go in need that are infrastructure whether depending

we've always be a business. so to And mandated wanted

U.S., So careful. any Commission. deliver. so we power data Using have built, their can't the the and power they of more And and we're most not They're very some are domestic in to I'd mention seeing the well. If -- on this delivery -- [ is has differentiator usually, going the energy they don't demand things, the And plants internationally. In for center Public we're from need see between energy. for regionalize rather that very served new areas coming ] they tremendous actually important. Utility that of being is tons the because

keep not with -- a this. -- internationally, the power they they to develop they're However, call hyperscalers mentioned grid especially and on are are free just we -- of public use data do and Those energy, for on relying -- cannot just to don't power Ben demand as hyperscalers up do the see. the and the centers and they have they

that more place international a right the see domestically. growth of has we Then in now, taken market. So

I appreciate it.

America. with comes next the Bank question from of Our Feniger line of Michael

I -- outlook. Ed, Just was just on the curious

EBITDA like guidance? As should think revenue XX% kind we kind of when of of EBITDA on -- thinking we you year what the help of you be for based -- where the range, EPS should settles the for be kind just mentioned frame that any the and margin, gross

number could I mean We but for. of we EBITDA, -- have of I vary, that think a that's don't a that's goal that on -- could guidance XXX. and give to shoot adjusted -- reasonable course, but

the impact for curious, Geospatial, on you just flagged rest guys the that I'm and then And seems helpful. of mix it the Really year. Okay. how obviously, like builds

federal election the curious an keep to the it in Just in year. and comes how have election? in to we're impact Maybe that as when about mind bookings, Geospatial. looks terms you it think Just Geospatial come to of government? about how for and that Does for could backlog

I'll going, start, and you Dan, -- the I to opposed then NVX, back by that develop. political they join required to that happens go we agnostic to way in politically maybe have to something. want are needs it's as which just said free but whatever to -- particularly, But is in, happen what are earlier. anyone party is to We positions the whether whole nation, if

be So we take power. -- to to

just as the involved going not political is to to in be be. tend we what So environment

we adjust but power. don't far have as to that matter taxes is a as which work, there's no difference higher or We in lower will the -- see tremendous or party actual

I we can business. it up a to in implementer. takes of technology all work. have at because being year ends a any shouldn't transition. we're our any in this couple impact little And same amount years And jump bit, the usually, I'm we a just sorry. still -- different from Yes, administration a of change comes It in see solution places and

[ to resilient ]. pretty we're administration So

you're know. are to they just guys that the that. you still just And picking areas? with maybe Good curious higher touch could up same back -- a they conversations, go out are the if flagging, these few in there they were M&A years -- are same Great. multiples and than is around on I'm starting Or seeing I'm ago? to you curious

yes. Well,

traded But rise, publicly nicely. have more They're more particularly appreciated stock being a I using little our the involved think they and be are attending of to bit creative. this luxury as equity tending as space. we -- have very to gets private in you

that will And And as stock using the acquisitions. be get as above high multiple sometimes our Xx traditional tends of some to in the XXx. to we

but and involved. brokers private either or gets the people an the we -- in have seen increase So more more multiples as equity

We Keith with in Instructions] another [Operator Cruiser came do Rosenbloom from Capital. have question

If I Moore. think, right? midpoint wanted shows at your look at I at that from Chris rate earlier, revenue revenue clarify to growth a guidance X that XXX, the XX% I Is year-over-year. question

be is half -- XX%. am the I We sure probably second not is -- that half have I'm the above very to strong. think I going not the second

just mathematically, XX% a it's I heard and growth. revenue number, different I think

just doing right. that ask making the data sure was I So about target. center wanted a to was I question I

seems revenue, of You've these revenue of of to contribute target. particular got irons -- really it the years terms all this the next appreciate of of business it's terms that And will enhancement? But what the in fire, couple I as this in and acceleration growth. a and margin exciting I'm like in line to curious

Yes.

aspirational have we the our -- to And we a we data -- just organic And locations been few are mean in well group. center And very established organic the centers million targeting related of network. $XXX growth, very and the good, what that data to are have see that strong competitors growth a pipeline that in business. that right take we of goal or we acquisitions. acquisitions need combination not. now for for the Keith, will in are we've be of internationally. technology the to advantage doing we through a revenue -- I some think I in anything

And think period, for organic you that so $XXX of demand more I think energy XX-year to of a because it's see that the get acquisitions. centers be in combination we growth internationally but data to a can be got domestically. now growth that will we million goal and of over But aspirational

XX% you if projections, the that alluded to back was organic we the was rate midpoint. previous just growth, take to is to that growth an which terms Keith, question, go revenue total gross that. right, number, The of in earlier below

or X% was so. It Right.

Exactly.

And at Day. leaving I rate last looking Investor of revenue And fourth to it's there, just point $X was your be pretty said going then make. confidently run the guys was XXXX. target to XXXX -- quarter the billion a you of

year's for as So it you're looks this on there targets guidelines Day and XXXX point well. sit like your hopefully, Investor

Well, that. Keith, noticing for thank correct. That's you,

run for We $X we are think that some you we're at -- and I spending what billion I rate. -- Investor is is correct. that surmised -- are -- on remember the we the target well there seeing Day, --

May Al. Thanks, in you you soon. Yes, guys. it Talk called 'XX. Thanks, of Dickerson. out Thanks, to

Thank you. Okay.

There you. over are turn time. further call the no back to questions at Wright, this I Mr.

you. thank Well,

concluding see last And thought I our that's to leaders think the segment each year. of I questions. speak comments. some would our I second of had the then just they half how we see of the to

roads, and not bridges, on or of saw of fueled listened improved for and comfortable the we're saying on and wastewater to growth So really water, need so what energy if really the the building positioning infrastructure, of the dependent NVX the today, the delivery so economic is planet. you The U.S. conditions. growth feel that population by of population we we're

So mandated. we or that are are doing needed things

specific not we're so economic conditions. And dependent as on

and the this we half by services. enthusiastic of as at the increased for and second growth of seen we've demand strong, look for that encouraged very the will end think our be we we're the very about back future. further 'XX for So And

us edge. gets are that emphasizing We how really technology

services, over in wider gives be that and measure all deliver it competitors. able information of us to of advantage significant can be been a verticals, We're the gives geographies, delivery than this we'll our of to X So do -- all we've to does a role our faster clients way an our And that segments our and a will specific play we the things things. in us will edge key over able traditionally. technology

you feel we have seen the So very that strong about year.

in as and a And activity. XX. organic the you've we're going be this, we've technology M&A and this that combination of guidance on Slide be going it's growth a So what to is be seen the deck was driver will increased that of a coming and to doing --

want listening. into before for including let's specific And our just leaders about thank I the ask comments I everyone feel how to sector. have, their we So go

Infrastructure the So for year Group the Alex, second how the do you feel about half segment? of

Thanks, Dick.

opportunities strong have our interdisciplinary approach continued demand the for support our our that are increasing. We services. providing several and seeing integrated cross-selling And platform. in We're differentiated of growth indicators

include Our we an master not do And that importantly, our not won we since backlog is have do we numbers work until services include those amounts also order. executed increasing. agreements backlog the have

the have we beyond well XX growth next such, visibility for months. As

you, on received Geospatial. interest doing we're the and Dan, you lot with questions Thank a what of Alex.

for do that activities year the you you're the specifically, Geospatial doing? the the and of see half So we'll how Group ask second

particular. Yes, going in I of positive market, in see lot activity a the on

we're interesting calling in used chain digital really the that the Sale the of and really at to an at accelerating. activity seen through now there. planning, we've And solutions. able talked twinning transportation connecting And growing management. construction that. And for outdoor adoption chain then We're scale. the seeing work digital kind digital contract that the about put we're and this data operations for seeing the is One they're and is the specific, design strategy system are other in market phenomenon of And that is and good and is that in being and it doing data together to won of asset power [ center transformation the the solution. We of phenomenon and Digital ] delivery. Twin of Ben right Morgan we're exciting. And a more all is

about So that. we're excited really

Ben, the awful Dan. doing of you're Thanks, an lot Technology segment. Building in -- work with

how overview you see after an maybe XXXX this and second that? of of So half

lot of year, dividends. to quite existing seeing some the and clients, asking expanded and excited of Yes. a us and there. needs a that on the future about of we talked group that. of starting meet And Yes. We've the data sort the with technology, wanted but Geospatial. some where doing to about -- really time in into and of in was Thanks, current Dick. areas then bit buildings I Infrastructure really and I'm touch We now are and that's Indonesia. now our the we they're earlier also centers. cross-working the to results think, that the effort to both pay we're just and invested we're I be growth seeing, Japan And

Some going well. other think areas that very, very I are

and agencies, energy started government school secure larger really group, with contracts decarbonization and Our boards to clean utilities. we've

work that, doing we've last it with year and starting really take have off. and growing things brings And the digitization that building we pleased downstream been we've the Geospatial, formed the the there really So lastly, been with infrastructure. got really with going that to it's organically, work group late and that

we've Geospatial, weeks last the the contracts million worth aviation alone, in X in of secured Just with working over $X space.

the with happy So Dick. there. Thanks, really really, progress

the half acquisitions segment. really solid the segments verticals enthusiasm. you, thank to these a performance of year. have share that in see the they luxury of very the our contribute the And to leaders each of forward everyone. each strengthen glad doing in second the of the looking We're we I'm Well, to now that as

we for want our in call, thank forward to speaking So listening third to look and again in you I the to to everybody today quarter.

very thank So you much.

Ladies and today's conference call. gentlemen, concludes this

You may disconnect. now