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Jun 30, 2022
Bowman Q2 2022 Earnings Report
Bowman announced record revenue driven by organic growth and strategic acquisitions.
Key Takeaways
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.
Net service revenue increased by 74% year-over-year.
Organic net service billing growth was 32%.
Adjusted EBITDA increased by 81% year-over-year.
The company increased its full year 2022 outlook for Net Service Billing and Adjusted EBITDA.
Bowman
Bowman
Bowman Revenue by Segment
Revenue by Segment
Building Infrastructure Revenue
CapyFin.comTransportation Revenue
CapyFin.comPower and Utilities Revenue
CapyFin.com Forward Guidance
The Company is increasing its full year 2022 outlook for Net Service Billing to be in the range of $205 to $220 million and Adjusted EBITDA in the range of $29 to $33 million.
Positive Outlook
- Net Service Billing to be in the range of $205 to $220 million.
- Adjusted EBITDA in the range of $29 to $33 million.
- Increase from the previous guidance for Net Service Billing of $185 to $200 million.
- Increase from the previous guidance for Adjusted EBITDA of $25 to $29 million.
- The Company expects to continue making strategic and financially accretive acquisitions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income