8/7/2024

speaker
Operator
Conference Operator

the second quarter 2024 and the 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 Harad, 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.

speaker
Richard Tong
Executive Vice President & General Counsel

Thank you, Operator. Welcome, everyone, to NV5's second quarter 2024 earnings call. Before we proceed, I would like to notify all participants that today's presentation can be found on ir.nv5.com and remind everyone that today's discussion contains forward-looking statements about the company's future business and financial performance. These are based on management's current expectations and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these statements are included in today's presentation slides and in our report on FI with the SEC. During the call, GAAP and non-GAAP financial measures will be discussed. A reconciliation between the two is available in today's earnings release and on the company's website at www.nv5.com. Please note that unless otherwise stated, all references to second quarter 2024 comparisons are being made against the second quarter of 2023. In this presentation, NV5 has included certain non-GAAP financial measures as defined in Regulation G promulgated under the Securities and Exchange Act of 1934 as amended. The non-GAAP financial measures included in this presentation are adjusted earnings per share and adjusted EBITDA. NV5 provides non-GAAP financial measures to supplement GAAP measures as they provide additional insight into NV5 financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance or a substitute for GAAP. In addition, other companies may define non-GAAP measures differently, which limits the ability of investors to compare non-GAAP measures of NV5 to those used by peer companies. A webcast replay of this call and its accompanying presentation are also available via the link provided in today's news release on the Investors section of the company's website. You may also find today's presentation, which will be referenced during this call, on the Investors section of the company's website. We will begin the call with comments from Dickerson Wright, Executive Chairman of NV5, before turning the call over to Edward Kodastody, Chief Financial Officer, for review of the second quarter results. Dickerson Wright will then provide closing comments before we open the call for your questions.

speaker
Dickerson Wright
Executive Chairman of NV5

Dickerson, please go ahead. Thank you, Richard, and we thank everyone joining us for this call today. Although we are very pleased to report a successful second quarter, which reflects strong organic growth and profitability, The second quarter results further represented the positioning of NV5 to meet the expected increase demands for the second half of the year. As many of you know and had attended, an investor day was held on July 25th, which emphasized our position for not only the second half of this year, but our goals for NV5 in the three years to come using technology to better deliver these services. Current market conditions confirm the NV5 positioning of being in a mandatory business. The global population growth has placed tremendous demands on infrastructure and energy production and delivery. We have strengthened all aspects of NV5 infrastructure and energy production and delivery services. This has proven to be a very stable business model during all economic conditions. As an example of this, our backlog, which has increased to 877 million, for the year represents an increase of 5% over Q1 24 and 9% over the second quarter of last year. As you can see on slide three, we have presented a combined performance for NV5 in the second quarter of 2024. These totals represent the accumulation of three segments of our business, infrastructure, geospatial, and buildings and technology. These three segments are supported by our six service verticals, construction quality assurance, utility services, infrastructure, environmental health sciences, building and technology, and geospatial. We will report the second quarter performance of these verticals as well as annual and future goals for each of these segments. We will also convey the competitive advantage of how these verticals work with each other to deliver effective and meaningful results to our clients through a robust cross-selling program of all our offices. The first segment we would like to discuss is our infrastructure segment, which will be presented by Alex Hochman, CEO of Infrastructure. We will not only discuss the second quarter results, but how we use technology to deliver these results and the cross-selling support that infrastructure receives from our other verticals. Alex?

Disclaimer

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