Bowman Consulting Q2 net service billing up 74% YoY; raises 2022 outlook

Bowman Consulting Group Ltd.

2022-Q2 EPS reported $0.09 revenue$114,860,000

Gross revenue $62.4M (up 71% YoY); net service billing $56.4M (up 74% YoY).
Adjusted EBITDA $7.6M (up 81% YoY); adjusted EBITDA margin 13.4%.
Organic net service billing growth 32%; gross backlog $206M (up 66%).
2022 guidance raised: net service billing $205-220M, adjusted EBITDA $29-33M.
Closed acquisitions of McMahon Associates and Fabre Engineering; in July, Project Design Consultants.

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