Bowman Q3 net service billing tops $100M for first time; raises FY24 revenue guidance

Bowman Consulting Group Ltd.

2024-Q3 EPS reported -$0.18 revenue$313,341,000

Q3 gross contract revenue $113.9M, up 21% YoY; net service billing $101.4M, up 23%.
Net income $0.8M vs $1.2M YoY; diluted EPS $0.04 vs $0.08; adjusted EBITDA $17.0M, up 13%.
Company repurchased 496,628 shares for $11.9M during Q3.
FY24 net service billing guidance raised to $376-386M; FY25 outlook introduced at $422-437M.
Entered agreement to acquire Exeltech Consulting, a bridge design firm in Lacey, WA.

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