NV5 Global, Inc. announced on January 6, 2025, that it intends to repurchase up to $20 million of its common stock during the next open trading period. This repurchase is part of the previously approved $100 million stock repurchase program by the NV5 Board of Directors.
Dickerson Wright, Executive Chairman of NV5, stated that this share repurchase program reflects the company’s strong financial position and anticipation of accelerated organic growth and profitability. He also noted that the current valuation of NV5’s stock presents a unique opportunity to utilize excess cash flows for repurchases.
The company expects to execute the share repurchases following the announcement of its 2024 fourth quarter and full-year financial results. The number of shares repurchased will depend on various factors, including the share price.
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