Bowman Earnings Reports

Bowman achieved a strong financial performance in Q4 2024, reporting record gross contract revenue and a significant increase in net income. Adjusted EBITDA saw robust growth, reflecting improved operational efficiency. The company also expanded its backlog, indicating sustained future growth.

Bowman Consulting Group Ltd. reported strong financial results for Q3 2024, exceeding $100 million in net revenue for the first time. The company focused on aligning labor with revenue, capitalizing on economies of scale, and increasing free cash flow generation.

Bowman Consulting Group reported a net loss of $2.0 million for the quarter ended June 30, 2024, despite a 26% increase in gross contract revenue to $104.5 million. The company faced challenges with the conversion of awards to revenue due to delays in project commencement, but backlog grew by nearly 5% from the end of last quarter and 19% year-over-year, excluding backlog acquired in Q2. The company is optimistic about improvements in the second half of the year and into 2025.

Bowman Consulting Group reported a 25% increase in gross contract revenue, reaching $94.9 million, and a 27% increase in net service billing, totaling $85.7 million. The company's adjusted EBITDA increased by 25% to $12.1 million, while experiencing a net loss of $1.6 million. The company closed on an equity offering that included approximately $51 million of gross proceeds and a new $100 million revolving credit facility.

Bowman Consulting Group Ltd. reported a 23% increase in gross contract revenue and a 22% increase in net service billing for Q4 2023. However, the company experienced a net loss of $7.7 million compared to a net income of $0.5 million in the same period last year.

Bowman Consulting Group reported a strong third quarter with record gross revenue and a 30% year-over-year increase in backlog. The company's strategic growth initiatives are demonstrating margin leverage and operating cash flow improvements. Bowman is optimistic about future growth due to tailwinds in transportation, energy, and manufacturing funding.

Bowman Consulting Group Ltd. reported a 33% increase in gross revenue to $82.8 million and a 46% increase in adjusted EBITDA to $11.1 million for the second quarter of 2023. The company closed on five acquisitions during the quarter, contributing approximately $36 million of annualized revenue. Bowman increased its full year 2023 outlook for Net Service Billing to be in the range of $300 to $315 million and Adjusted EBITDA in the range of $47 to $52 million.

Bowman Consulting Group Ltd. reported a strong start to 2023, exceeding estimates with a 42% year-over-year increase in net service revenue driven by organic growth and acquisitions. The company is increasing its full year guidance for net revenues and adjusted EBITDA.

Bowman Consulting Group Ltd. reported record financial results for the year ended December 31, 2022. The company generated record revenue, doubled adjusted EBITDA, and added close to 700 professionals.

Bowman Consulting Group Ltd. reported a record third quarter with gross revenue of $71.2 million, a 79% increase compared to the previous year. Net income increased to $3.4 million, and the company raised its full-year outlook for Net Service Billing and Adjusted EBITDA.

Bowman Consulting Group reported record second-quarter results, with a 74% increase in net service revenue year-over-year. This growth was fueled by a 32% organic increase and contributions from ten acquisitions. The company has also increased its full-year outlook due to strong year-to-date results and record backlog.

Bowman Consulting Group reported a strong first quarter with record net service revenue, increased backlog, and an increased full-year outlook. The company acquired Perry Engineering and raised $17 million of additional equity for growth.

Bowman Consulting Group announced Q4 2021 financial results, featuring a 40% year-over-year increase in gross revenue and a 44% increase in net service billing. The company closed six acquisitions during the quarter, contributing to revenue synergies and economies of scale. Bowman is increasing its full year 2022 outlook for Net Service Billing and Adjusted EBITDA.