What factors drove the changes in Bowman Consulting's revenue and profit?

What is the revenue and EPS growth rate for Bowman Consulting year over year?

What is Bowman Consulting's latest dividend and current dividend yield?

What is the market's earnings forecast for Bowman Consulting next quarter?

What is Bowman Consulting's gross profit margin?

What were the key takeaways from Bowman Consulting's earnings call?

What guidance did Bowman Consulting's management provide for the next earnings period?

What does Bowman Consulting do and what are its main business segments?

- **Revenue Growth**: 2025 net revenue up 14.5% to $434.8 million; 2026 guidance $495-510 million (+16%).
- **Margin Expansion**: 2025 EBITDA margin 17.3%; 2026 target 17-17.5% via automation and workforce efficiency.
- **Strategic Acquisitions**: RPT acquisition added $18 million to 2026 guidance, with seamless integration and cross-selling success.
- **Geospatial Leadership**: 26% of gross revenue from geospatial services; $25 million BIG Fund invested in AI tools like PACK digital twin platform.
- **Debt Management**: 2026 cash flow to reduce leverage to 2.06x midpoint of guidance, from 2.45x at year-end 2025.

**【CEO Summary Section】**
- **Record Year Achievements**: 2025 marked Bowman's fourth year as a public company, with double-digit growth in gross revenue (14.9%), organic net revenue (12.4%), and adjusted EBITDA. Backlog reached $479 million, a 20% increase from 2024.
- **Market Expansion**: Strong performance in Power & Utilities (27% growth), Natural Resources (29%), and Transportation (22%). Geospatial services contributed 26% of gross revenue, with 30% of work tied to government funding.
- **2026 Outlook**: Guidance for net revenue of $495-510 million (16% growth) and EBITDA margin of 17-17.5%. Q1 2026 sales outpaced Q4 2025, signaling strong momentum.

**【CFO Financial Commentary】**
- **Q4 2025 Results**: Gross revenue $129 million, net service billing $114.6 million (+16.2% YoY). Full-year gross margin 53.4% (up 120bps), SG&A down 250bps. Pretax net income improved to $11.2 million from a loss in 2024.
- **Acquisition Impact**: RPT acquisition added $18 million to 2026 guidance, with seamless integration and cross-selling opportunities. 2026 organic growth projected at 12%.
- **Financial Health**: Net debt $179 million, with $150 million liquidity. 2026 cash flow expected to reduce leverage to 2.06x midpoint of guidance.

**【Q&A Highlights】**
- **RPT Integration**: Fully integrated within 3 months, with cross-selling success in LNG and data center projects. 2026 focus on geospatial fleet expansion (e.g., high-altitude scanners, UAVs).
- **Margin Drivers**: 2026 EBITDA margin target 17-17.5% via workflow automation and labor optimization. 2025 tax rate 17-20%, stable due to R&D credits.
- **Risk Management**: 70-80% backlog conversion rate, with 2026 revenue seasonality skewed toward Q1/Q4 (47%) vs. Q2/Q3 (53%).

Bowman Consulting Group Ltd. (BWMN) Q4 2025 Earnings Call Transcript

- **Revenue milestone**: Surpassed $500M annualized gross revenue, up 11% YoY, with 18% YoY backlog growth to $448M.
- **Profitability**: GAAP net income $6.6M (Q3), doubling adjusted EBITDA to $18.3M (+8% YoY). Cash flow up 114% YoY to $26.5M.
- **Segment strength**: Transportation (+20%), Power & Utilities (+17%), Energy (+38%) lead growth, supported by M&A and tech investments.
- **2026 outlook**: $465-480M net revenue, 17-17.5% EBITDA margin, driven by overhead efficiency and strategic M&A.
- **Risks**: Government shutdown delays, private sector interest rate sensitivity, but strong public sector buffer.
- **Innovation focus**: AI, automation, and geospatial tech to improve margins and scalability.


**【CEO Summary Section】**
- Achieved $500 million annualized gross revenue, surpassing prior targets with 11% YoY growth in net revenue ($112 million) and 7.6% growth in adjusted EBITDA.
- Transportation, Power & Utilities, and Energy segments drove 20%+ growth, accounting for 40%+ of top line. Backlog reached $448 million (18% YoY), with book-to-bill ratio >1, indicating strong Q4 momentum.
- Emphasized recurring public sector work and private demand resilience, positioning for 2026 growth.

**【CFO Financial Commentary】**
- GAAP net income: $6.6 million (Q3) and $10.9 million (9M), up from $0.8 million and -$2.9 million YoY.
- Cash flow from operations: $26.5 million (9M), doubling YoY. Net leverage: 1.5x, with $150 million available liquidity post-revolver expansion.
- Organic net revenue growth: 6.6% Q3, 11% 9M. Overhead as % of net revenue: 89.5% (Q3), down 290bps YoY.
- Gross margins by segment: 56% (Building Infrastructure), 57% (Natural Resources), 46% (Transportation). Adjusted EBITDA: $18.3 million (Q3, +8%), $53 million (9M, +25%).
- Stock-based compensation: $14.2 million (9M, 4.4% of revenue), down from 7.3% YoY.

**【Q&A Highlights】**
- **Transportation growth**: 10% YoY, 25%+ IIJA funds remaining, multiyear DOT programs, ports/harbors expansion.
- **Power & Utilities**: 17% YoY growth, acquisitions (Sierra, ORCaS, Lazen) enhance renewables, grid modernization, and transmission capabilities.
- **M&A strategy**: Focused on strategic tuck-ins in transportation, power, and data centers; 2026 pipeline active, with $150M liquidity for deals.
- **Labor market**: Aggressive recruitment, leveraging innovation (BIG Fund) to reduce reliance on headcount growth.
- **Government shutdown impact**: Minimal direct exposure; state/local work buffers federal delays.
- **2026 guidance**: Net revenue $465-480M, EBITDA margin 17-17.5%, driven by overhead leverage, utilization, and tech adoption.
- **Data center trends**: Increased landowners pursuing data center projects, e3i acquisition expands opportunities.
- **Solar outlook**: Strong 2026 demand due to tax credits, cautious on 2027+.
- **Innovation**: AI tools for project lifecycle management, ORCaS automation, and geospatial tech upgrades.
- **BIG Fund spending**: $300K+ on AI, automation, and geospatial enhancements, with returns tracked rigorously.


Bowman Consulting Group Ltd. (BWMN) Q3 2025 Earnings Call Transcript

- **Record Financials**: Q2 net revenue $108M (+15% YoY), adjusted EBITDA $20.2M (18.7% margin), up 250bps YoY. 2025 guidance: EBITDA $71-77M.
- **Growth Drivers**: Transportation (+21% organic), Power (data center energy infrastructure), and innovation investments via $25M BIG Fund.
- **Margin Expansion**: Sequential overhead flat vs. +8% revenue, gross margin +230bps Q/Q. Target 17%+ 2H25 margin.
- **Strategic Shifts**: Data centers reclassified to Power sector, e3i acquisition for end-to-end energy services, and geospatial tech integration.
- **Leverage & Liquidity**: 1.6x leverage, $16M cash, $80M revolver. 2025 cash flow target 60%+ EBITDA conversion.

**【CEO Summary Section】**
- **Revenue Growth**: Q2 gross contract revenue increased 17%, net service billing rose 15%, and adjusted EBITDA grew 51%. Bookings exceeded prior quarter levels, with a book-to-bill ratio >1.0.
- **Segment Performance**: Transportation segment achieved 21% organic growth, driven by public infrastructure projects. Power sector expanded with data center integration, including e3i acquisition for end-to-end energy infrastructure services.
- **Strategic Initiatives**: Launched the $25M Bowman Innovation Growth Fund (BIG Fund) to invest in AI, geospatial tech, and digital services. Moved data center work into Power sector to align with energy-intensive needs.
- **Legislative Impact**: Benefits from One Big Beautiful Bill include 100% bonus depreciation and research expense expensing, enabling margin expansion and cash flow improvement.

**【CFO Financial Commentary】**
- **Financial Highlights**: Q2 gross revenue $122M, net revenue $108M, adjusted EBITDA $20.2M (18.7% margin). Year-to-date EBITDA margin 16.7%, up 250bps vs. 2024. Guidance for 2025: net revenue $430-442M, EBITDA $71-77M.
- **Margin Expansion**: Sequential Q2-Q1 net revenue +8% with flat overhead, driven by 1% unburdened labor increase. Gross margin +120bps vs. 2024, +230bps vs. Q1. Scale effect visible in margin improvement.
- **Cost Management**: Non-cash stock comp expense down to $3.1M (from $6.7M Q1), guided to $20M annualized. Focus on aligning compensation with growth while maintaining employee ownership culture.
- **Balance Sheet**: $108M net debt, $16M cash, $80M revolver availability. Q2 cash flow $16.3M (50% EBITDA conversion), targeting mid-60s% for 2025.

**【Q&A Key Highlights】**
- **Transportation Growth**: Driven by infrastructure bill funding, with wins in bridge renewal, highway design, and construction management. Public spending and acquisition synergies fueling backlog.
- **Margin Outlook**: Q2 margin 18.7% reflects peak utilization; guided to 17%+ for 2H25. Labor efficiency and innovation investments (e.g., AI, digital tools) expected to sustain margin expansion.
- **BIG Fund Strategy**: Investing in pilot projects for recurring revenue streams (e.g., predictive maintenance, asset lifecycle management). First returns anticipated in 2026.
- **M&A Approach**: Shifting to larger, fewer deals to enhance scale benefits. Current focus on organic growth and integration of recent acquisitions.
- **Data Center Evolution**: Transitioning from land development to full-stack energy infrastructure provider, capturing OpEx budgets through advanced cooling and power systems.

Bowman Consulting Group Ltd. (BWMN) Q2 2025 Earnings Call Transcript

- **Record Q1 Growth**: $100.1M net service billing (+17% YoY), $419M backlog (+27% YoY).
- **Margin Expansion**: Gross margin 51.4%, SG&A as % of gross down 240bps YoY.
- **Cash Flow Strength**: $12M Q1 cash flow, 83% conversion rate, $12.1M EBITDA (+19.6% YoY).
- **M&A & Buybacks**: $6.7M Q1 buybacks, $35M authorization; targeting larger acquisitions.
- **Sector Momentum**: Transportation (+30%), Emerging Markets (+118%), Power & Utilities (+16%) lead growth.
- **AI & Tech**: Slow integration; no competitive impact yet, but exploring automation tools.


**【CEO Opening Remarks】**
- Q1 2025 bookings reached a record $419 million, up 27% YoY, with a book-to-bill ratio >1.0.
- Net service billing grew 17% YoY to $100.1 million, driven by balanced growth across Transportation (+30%), Power & Utilities (+16%), and Emerging Markets (+118%).
- Organic revenue growth doubled to 6% YoY, with Transportation leading at 15%.
- 2025 full-year guidance: Net revenues $428-440 million, Adjusted EBITDA $70-76 million.

**【CFO Financial Highlights】**
- Gross revenue: $112.9 million (+19% YoY), Net service billing: $100.1 million (+17% YoY).
- Gross margin: 51.4% (vs. 50.6% YoY), SG&A as % of gross revenue: 44.7% (down 240bps YoY).
- Adjusted EBITDA: $14.5 million (+19.6% YoY), Cash flow from ops: $12 million (83% conversion rate).
- Share buybacks: $6.7 million Q1, $5.3 million post-quarter, total outstanding shares reduced to 17.2 million.

**【Q&A Key Takeaways】**
- **Transportation**: Strong pipeline with IIJA funding; 30% YoY growth despite lumpy order timing.
- **Power & Utilities**: Growth driven by data centers, grid expansion, and undergrounding projects.
- **M&A Strategy**: Focused on larger, strategic acquisitions; completed $35 million buyback authorization.
- **AI Adoption**: Slow, cautious integration; no material impact on competitive position yet.
- **Building Infrastructure**: Balanced commercial/residential split (50-50), resilient demand despite macro uncertainty.
- **Backlog Conversion**: 70-80% of Q1 backlog expected to convert in next 12 months, despite longer project tenures.


Bowman Consulting (BWMN)-7 May 25-2025 Q1 Earnings call transcript

- **Record financial performance**: 23% revenue growth, $59.5 million adjusted EBITDA, and $24 million operating cash flow in 2024.
- **Strong 2025 outlook**: Guidance for $428-$440 million net revenue and $70-$76 million EBITDA, driven by transportation and energy infrastructure growth.
- **Strategic investments**: 8 acquisitions, geospatial technology expansion, and $34 million stock buybacks.
- **Resilient portfolio**: Diversified across 4 end markets, <4% revenue concentration per customer, and minimal federal exposure.

**【Management Opening Remarks】**
- Recorded **$426.6 million in gross revenue** for 2024, a 23% year-over-year increase, with the strongest fourth quarter in company history.
- Achieved **$399 million backlog** at year-end, up 30% from 2023, with 70% organic growth.
- Completed **8 strategic acquisitions** to expand into new geographies and service areas, including advanced geospatial solutions through Surdex.
- Generated **$24 million in operating cash flow** for the year, doubling 2023 levels.

**【CFO Financial Commentary】**
- Q4 2024: 
  - Gross revenue: $113 million (+22% YoY)
  - Net revenue: $98.6 million (+23% YoY)
  - Adjusted EBITDA: $17 million (17.2% margin)
  - GAAP net income: $5.9 million ($0.34 EPS)
- Full-year 2024: 
  - Adjusted EBITDA: $59.5 million (15.7% margin)
  - GAAP net income: $3 million ($0.18 EPS)
  - Cash flow from operations: $24 million (+100% YoY)
- 2025 Guidance: 
  - Net revenue: $428-$440 million
  - Adjusted EBITDA: $70-$76 million

**【CEO Market Commentary】**
- **Transportation growth**: IIJA funding driving state and local projects, with bookings pacing ahead of plan in 2025.
- **Energy infrastructure**: Shifting focus to EV charging and grid resilience, with oil and gas demand surging.
- **Technology investments**: Expanding geospatial capabilities (e.g., remote sensors, LiDAR/SONAR tools) to capture cross-selling opportunities.
- **Diversified portfolio**: No single customer >4% of revenue; 51% of gross revenue from building infrastructure, 21% from transportation.

**【Q&A Highlights】**
- **Transportation vertical**: IIJA spending accelerating, with state and local projects offsetting federal cuts.
- **Backlog trends**: 80% of backlog expected to convert within 12 months, with no material delays.
- **Capital allocation**: Balanced approach to M&A, buybacks, and tech investments; $34 million in 2024 stock buybacks.
- **Data center growth**: Expanding into design and power delivery, with land use planning opportunities.
- **DC real estate impact**: <10% of residential portfolio exposed to local market softness; long-term D.C. economy stable.

Actual	0.17	-0.06	0.03	-0.07	0.12	-0.03	0.25	0.03	0.04	-0.05	0.34	0.31	0.2	-0.03	0.3	0.71	0.07	0.55	0.61	0.45
Forecast	-0.01	-0.01	-0.03	-0.07	-0.03	0.035	0.09	0.115	-0.005	0.145	0.1333	-0.07	0.0567	0.2883	0.39	0.282	0.0883	0.226	0.4633	0.3986
Surprise	+1800.00%	-500.00%	+200.00%	0.00%	+500.00%	-185.71%	+177.78%	-73.91%	+900.00%	-134.48%	+155.06%	+542.86%	+252.73%	-110.41%	-23.08%	+151.77%	-20.72%	+143.36%	+31.66%	+12.90%

BWMN

BWMN fundamentals

BWMN Q4 2025 Earnings

Earnings Call

You can ask Aime

BWMN

BWMN fundamentals

BWMN Q4 2025 Earnings

Earnings Call

BWMN Earnings Call Summary for Q4/20259:00 AM on Mar 5, 2026

BWMN Earnings Call Summary for Q3/20259:00 AM on Nov 6, 2025

BWMN Earnings Call Summary for Q2/20259:00 AM on Aug 7, 2025

BWMN Earnings Call Summary for Q1/20259:00 AM on May 7, 2025

BWMN Earnings Call Summary for Q4/20249:00 AM on Mar 12, 2025

You can ask Aime