Bowman Consulting Group Ltd. - BWMN STOCK NEWS

Bowman Consulting Group Ltd. (Nasdaq: BWMN) has appointed Dan Swayze as Executive Vice President of Energy Services to spearhead the company's renewable energy expansion. With over 25 years in consulting engineering, Swayze's experience includes leading various divisions at Onyx Renewable Partners. His appointment aligns with Bowman's strategy to focus on renewable energy and efficiency, supporting clients in achieving their ESG and energy transition goals. Swayze aims to enhance Bowman's capabilities in engineering and consulting for energy solutions.

Bowman Consulting Group Ltd (NASDAQ: BWMN) is set to provide landscape architecture services for the Morris Marketplace Thinkscape, an 8,000-square-foot community park in Morris Township, New Jersey. This park will be New Jersey's first certified Playful Learning Landscape, designed in collaboration with the Museum of Makers and Innovators (MOMI). Expected to foster interactive learning through play, the park features innovative installations such as a sound garden and a story spinner. The project began in July 2022 and will be completed within six months.

Bowman Consulting Group Ltd. (NASDAQ: BWMN) has been awarded a $10 million, five-year continuing service contract by Boulder County Public Works for engineering services including electrical and mechanical engineering. This contract builds on Bowman's previous work with Boulder County and various local municipalities since 2015. The company aims to leverage its established collaboration and expertise to meet Boulder County's future needs.

Bowman Consulting Group Ltd. (NASDAQ: BWMN) has acquired Anchor Consultants LLC, enhancing its portfolio in waterfront infrastructure. Headquartered in Chadds Ford, Pennsylvania, Anchor specializes in planning, design, and construction management for ports and harbors across North America.

The transaction is expected to contribute approximately $2.5 million in annualized net service billing. This move aligns with Bowman's strategy to diversify and strengthen its infrastructure services, while also facilitating immediate cross-selling opportunities for existing clients.

McMahon, a Bowman company, has been awarded a 5-year contract by the Florida Department of Transportation, District 4, valued at $5 million for Traffic Operations Continuing Services. The contract begins in August 2022 and includes in-house staffing, data collection, GIS services, plan reviews, and traffic studies. Joseph DeSantis, president of McMahon, emphasized their long-standing partnership with FDOT and McMahon's commitment to providing quality transportation services. The company, acquired by Bowman in May 2022, has been delivering engineering solutions since 1976.

Bowman Consulting Group Ltd. (Nasdaq: BWMN) has appointed Matt Mullenix as executive vice president, CIO, and CISO. Mullenix brings over 20 years of IT leadership experience, having previously held key roles at VSE Corporation and the U.S. Department of Defense. His responsibilities will include overseeing IT initiatives and developing a robust information security program. Mullenix aims to modernize IT operations, ensuring they contribute effectively to business growth. His qualifications include degrees in electronics and computer engineering technology, along with cybersecurity certifications.

Bowman Consulting Group Ltd. (Nasdaq: BWMN) has appointed Clay Worley as executive vice president and chief human resources officer. With over 30 years of HR experience, Worley will lead the HR and talent acquisition departments and collaborate on company acquisitions. CEO Gary Bowman expressed confidence in Worley’s ability to drive the company’s strategic growth. Worley previously held senior HR roles at NCI, Inc. and DXC Technologies. He is recognized for his commitment to people strategies and will focus on optimizing HR infrastructure at Bowman.

Bowman Consulting Group Ltd. (Nasdaq: BWMN) has secured a $2 million contract from the Forest Preserves of Cook County for professional engineering services aimed at districtwide transportation enhancements. The three-year project will cover Phase II design and Phase III construction engineering, involving extensive site inspections, surveys, and engineering design. Construction is set to commence by late August 2023. Bowman, headquartered in Reston, Virginia, offers a diverse range of infrastructure solutions across the United States.

Bowman Consulting Group Ltd. (BWMN) reported record results for Q2 2022, with net service revenue up 74% year-over-year, totaling $56.4 million. This growth was fueled by a 32% increase in organic revenue and contributions from ten acquisitions, including McMahon Associates. Adjusted EBITDA rose by 81% to $7.6 million, with a margin improvement to 13.4%. Bowman raised its FY 2022 guidance for net service billing to $205-$220 million and adjusted EBITDA to $29-$33 million. The company remains focused on strategic acquisitions amid economic uncertainties.