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Bowman Consulting Group Ltd. (symbol: BWMN) is a dynamic and diversified professional services firm dedicated to delivering superior engineering solutions across various sectors. The company provides a wide range of services including planning, engineering, construction management, commissioning, environmental consulting, geospatial services, survey, and land procurement. Bowman Consulting serves customers in numerous end markets, such as real estate, energy, and infrastructure.
Recognized for its outstanding client relationships and growth-focused strategies, Bowman Consulting has successfully met market demands through innovative service offerings and expansion into new locations. Their flexible approach combines the depth of resources typical of large design firms with the agility of boutique firms. Bowman Consulting's team comprises some of the industry's most respected professionals, ensuring top-notch service delivery.
Recent achievements highlight Bowman Consulting's competence in delivering high-quality outcomes. They focus on Civil & Site Engineering, Transportation Engineering, MEP Engineering, Commissioning & Energy Efficiency, Energy Services, Water/Wastewater, Fire Protection, Construction Management, Survey/Geospatial, Environmental Consulting, Structural Engineering, Land Procurement & Right-of-Way, Landscape, and Architecture/Planning. Their integrated approach provides clients peace of mind and exceptional service.
Currently, Bowman Consulting is involved in several key projects aimed at enhancing infrastructure and supporting sustainable development. The company's commitment to innovative solutions and responsive service continues to drive its success in the market.
Bowman Consulting, a national engineering firm, announced key executive promotions and a four-year contract renewal for CFO Bruce Labovitz. Michael Bruen, previously COO, has been promoted to President, while Dan Swayze, EVP and Division Manager, steps into the COO role. Bruen will oversee strategic planning and business development, leveraging over 25 years with Bowman. Swayze, who joined in 2022, will manage all professional services operations. Labovitz's new contract ensures his continued leadership through June 2028, emphasizing his role in Bowman's IPO and multiple acquisitions, which have added significant revenue and market capitalization. The changes aim to enhance leadership stability and advance strategic initiatives.
Bowman Consulting Group (NASDAQ: BWMN), a national engineering services firm, has been awarded a $1.65 million contract by the State of Oregon to provide high-resolution digital imagery for the entire state. Utilizing the capabilities from its recent acquisition of Surdex, Bowman will produce 30 cm resolution natural color and false color infrared orthorectified imagery covering approximately 98,400 square miles. This project aims to support various state agencies in areas such as disaster planning, climate change adaptability, emergency response, and land use planning. This marks Bowman's first major contract in the Pacific Northwest, highlighting the synergies from its recent acquisition.
Bowman Consulting Group's CFO, Bruce Labovitz, has been honored as Public Company CFO of the Year by the Northern Virginia Technology Council (NVTC). This award highlights Labovitz's exceptional leadership and contributions to both Bowman and the tech community in the National Capital Region. The award ceremony took place during NVTC's 28th annual Technology CFO Awards gala. Labovitz, who joined Bowman in 2013, played a important role in the company's successful IPO in May 2021. Gary Bowman, CEO, praised Labovitz for his dedication, expertise, and strategic vision, attributing much of Bowman’s growth to his financial leadership.
Bowman Consulting Group has been awarded a contract by the Arizona Department of Transportation (ADOT) to provide engineering and oversight services for a pedestrian and bicycle grade separation project at ASU Tempe campus. Bowman will lead the project in collaboration with Jacobs and SmithGroup, focusing on utility relocation, public art integration, and cost estimates. The project aims to connect Downtown Tempe, the Tempe Transportation Center, and ASU's sporting venues to the campus center. This is Bowman's first major contract with ADOT, marking its strategic expansion into the Western U.S. public works and transportation markets. Construction is expected to start in late 2025.
Bowman Consulting Group announced the addition of Vijay Agrawal as the Executive Vice President of the National Ports & Harbors Practice. Agrawal brings 25 years of experience in the ports industry and will lead the company's efforts in expanding its marine engineering capabilities. With a focus on technology-driven solutions and efficiency-oriented strategies, Agrawal aims to enhance Bowman's relationships with port and harbor owners, maritime authorities, and shipping line operators.
Bowman Consulting Group (Nasdaq: BWMN) reported financial results for the three months ended March 31, 2024, with a 25% increase in gross contract revenue, a 27% increase in net service billing, and a 25% increase in Adjusted EBITDA. The company closed on an equity offering, secured a new credit facility, and refinanced assets. The adjusted FY 2024 guidance forecasts net service billing in the range of $382 to $397 million and Adjusted EBITDA in the range of $63 to $69 million.
Bowman Consulting Group (NASDAQ: BWMN) announced the closure of a $100 million revolving credit agreement with Bank of America and TD Bank. The five-year agreement replaces a previous $70 million credit line with Bank of America, reinforcing the company's capital access for strategic growth.
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