Bowman Q1 2023 Earnings Report
Key Takeaways
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.
Net service revenue increased 42% year-over-year.
Organic net service billing growth was 12%.
Transportation services market revenue increased nearly four-fold year-over-year.
The company increased its full year 2023 outlook for Net Service Billing to be in the range of $285 to $300 million and Adjusted EBITDA in the range of $44 to $50 million.
Bowman
Bowman
Bowman Revenue by Segment
Forward Guidance
The Company is increasing its full year 2023 outlook for Net Service Billing to be in the range of $285 to $300 million and Adjusted EBITDA in the range of $44 to $50 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income