Bowman Consulting Group Ltd. - BWMN STOCK NEWS

Bowman Consulting Group Ltd. (Nasdaq: BWMN) reported record financial results for Q2 2021, achieving gross revenue of $36.5 million, a 15% year-over-year increase, and net service billing of $32.5 million, up 20%. Net income adjusted for IPO expenses reached $1.0 million. The backlog increased to $124 million, reflecting strong new contracts. Additionally, the company expects net service billing for FY 2021 to be between $125 million and $130 million. Recent acquisition and improved margins further support growth prospects.

Bowman Consulting Group Ltd has appointed Solomon Lee “Solly” Van Meter as a Sr. Project Manager in Energy and Land Services. His role focuses on managing land acquisition and real estate issues related to renewable energy projects. Van Meter, a former consultant for Carolina Solar Energy and BP Wind Energy North America, brings significant expertise in community relations and project approvals. This addition aligns with Bowman’s strategy to enhance its renewable energy capabilities, especially in Kentucky, as the state shifts towards solar energy.

Bowman Consulting Group (NASDAQ: BWMN) has acquired the assets of McFarland-Dyer & Associates, enhancing its service offerings in civil engineering, land planning, surveying, and landscape architecture. This strategic move aims to expand Bowman's footprint in the Atlanta market and is projected to add approximately $4 million in annualized net service billing. The acquisition was financed through cash, seller financing, and stock, affirming Bowman's commitment to delivering growth and shareholder value following its recent $52 million IPO.

Bowman Consulting Group Ltd. (NASDAQ: BWMN) will release its financial results for Q2 2021 after the market closes on August 11, 2021. A webcast to discuss these results will be held on August 12, 2021, at 9:00 a.m. ET, hosted by CEO Gary Bowman and CFO Bruce Labovitz. The Company, headquartered in Virginia, provides engineering solutions and completed its IPO in May 2021, raising $51.7 million. With over 800 employees across more than 30 U.S. offices, Bowman serves diverse sectors requiring regulated services.

Bowman Consulting Group (NASDAQ: BWMN) announced a $10 million task order contract with Cook County for its Pavement Preservation and Rehabilitation program. This three-year contract includes engineering and inspection services, with potential extensions. Revenue from the project is expected to ramp up in 2021, primarily in 2022 and 2023. CEO Gary Bowman highlighted the company's extensive experience in infrastructure projects, indicating a growing demand in this sector.

Bowman Consulting Group Ltd. (BWMN) reported robust financial results for Q1 2021, highlighting a 11% increase in gross revenue to $31.8 million and a 157% surge in adjusted EBITDA to $4.1 million. Net income soared by 130% to $1.0 million. The firm booked over $36 million in new work and completed the acquisition of KTA Group, enhancing its service offerings. The backlog reached $116 million, indicating strong future demand. Bowman aims to deliver continued growth following its recent IPO in May 2021.

Bowman Consulting Group Ltd. (BWMN) announced the underwriters of its IPO have purchased an additional 115,925 shares at $14.00 each, generating approximately $1.6 million in gross proceeds. This increases the total shares sold to 3,805,925, raising total gross proceeds to around $53.3 million. The overallotment option is set to close on June 8, 2021, with net proceeds expected to be about $1.5 million after discounts. D.A. Davidson & Co. and B. Riley Securities served as joint bookrunners, while legal counsel was provided by Nelson Mullins and Akerman LLP.

Bowman Consulting Group Ltd. (NASDAQ: BWMN) will release its financial results for Q1 2021 on June 10, 2021, post-market. Following this, a webcast is scheduled for June 11, 2021, at 9:00 a.m. ET, featuring insights from Chairman and CEO Gary Bowman, along with CFO Bruce Labovitz. The company, headquartered in Reston, Virginia, specializes in innovative engineering solutions and recently completed a $51.7 million IPO, beginning trading on Nasdaq. With over 750 employees, Bowman offers diverse technical services across regulated markets.

Bowman Consulting Group Ltd has appointed Timothy M. Vaughn as Executive Vice President of Mergers and Acquisitions. This strategic hire aligns with the company's growth and diversification goals following its recent IPO, where it raised $51.7 million and began trading on Nasdaq under the symbol BWMN. With over 20 years of M&A experience, Vaughn aims to enhance Bowman's operations and geographical reach. He has facilitated nearly 100 transactions within the architectural, engineering, and construction sectors, positioning him as a vital asset in Bowman's aggressive growth strategy.