Bowman Consulting Group, Ltd. ( (BWMN) ) has released its Q1 earnings. Here is a breakdown of the information Bowman Consulting Group, Ltd. presented to its investors.
Bowman Consulting Group Ltd., a national engineering services and program management firm, provides infrastructure engineering, technical services, and project management solutions across the United States. The company operates in diverse regulated markets, offering services such as planning, engineering, and environmental consulting.
Bowman Consulting Group Ltd. reported strong first quarter 2025 earnings, surpassing consensus expectations with record new orders and a notable increase in gross contract revenue. The company highlighted its strategic focus on innovation, organic growth, and acquisitions as key drivers of its performance.
Key financial metrics for the first quarter of 2025 included a 19% increase in gross contract revenue to $112.9 million and a 16.8% rise in net service billing. Despite a net loss of $1.7 million, the company achieved a 19.6% increase in adjusted EBITDA to $14.5 million. Cash flows from operations significantly improved to $12.0 million, and the gross backlog grew by 26.9% to $418.8 million.
Bowman also engaged in stock repurchase activities, buying back $6.7 million of common stock during the quarter. The company remains optimistic about its future performance, expecting continued growth through the second and third quarters, supported by its defensive organizational structure and disciplined approach to operations.
Looking ahead, Bowman Consulting Group Ltd. maintains a positive outlook for 2025, reaffirming its full-year guidance. The company anticipates performance improvements aligned with industry trends and believes it is well-positioned to navigate macroeconomic uncertainties, leveraging its strategic investments and operational efficiencies.