NASDAQ:BWMN

Bowman Announces Financial Results for Three Months Ended March 31, 2024

Retrieved on: 
Monday, May 6, 2024
Professional Services, Engineering, Other Construction & Property, Manufacturing, Construction & Property, Urban Planning, Consulting, Built environment, Transport, Bank of America, Bowman, IPO, Three Months, Bank, Acquisition, EPS, Adjustment, Toronto-Dominion Bank, GAAP

Bowman Consulting Group Ltd. (Nasdaq: BWMN) (“Bowman” or the “Company”), a national engineering and infrastructure services firm supporting owners and developers of the built environment, today released financial results for the three months ended March 31, 2024.

Key Points: 
  • Bowman Consulting Group Ltd. (Nasdaq: BWMN) (“Bowman” or the “Company”), a national engineering and infrastructure services firm supporting owners and developers of the built environment, today released financial results for the three months ended March 31, 2024.
  • “The first quarter delivered the revenue rebound we were expecting,” said Gary Bowman, Chairman and CEO of Bowman.
  • “Net service billing increased consecutively each month during the quarter in line with our expectations.
  • Bowman will host an earnings webcast to discuss the results of the quarter as follows:

Bowman Closes On $100 Million Revolving Credit Agreement

Retrieved on: 
Friday, May 3, 2024
Professional Services, Business, Other Construction & Property, Commercial Building & Real Estate, Construction & Property, Other Professional Services, Engineering, Urban Planning, Building Systems, Consulting, Environmental, Social and Governance (ESG), Manufacturing, Toronto-Dominion Bank, Partnership, Credit, Bank, Bank of America, Syndication

Bowman Consulting Group Ltd. (“Bowman” or “the Company”) (NASDAQ: BWMN), today announced it entered into a $100 million aggregate revolving credit agreement with Bank of America, N.A, as Administrative Agent, and TD Bank, N.A., as Syndication Agent (the “Credit Agreement”).

Key Points: 
  • Bowman Consulting Group Ltd. (“Bowman” or “the Company”) (NASDAQ: BWMN), today announced it entered into a $100 million aggregate revolving credit agreement with Bank of America, N.A, as Administrative Agent, and TD Bank, N.A., as Syndication Agent (the “Credit Agreement”).
  • With a five-year term, the Credit Agreement replaces the Company’s $70 million revolving line of credit with Bank of America.
  • The general provisions of the Credit Agreement are similar to the predecessor credit facility.
  • “This expanded credit facility reflects our long-term partnership with Bank of America and adds a new relationship in TD Bank,” said Gary Bowman, Chief Executive Officer.

Bowman Acquires MEP and Fire Protection Engineering Firm Moore Consulting Engineers

Retrieved on: 
Wednesday, April 17, 2024
Environment, Construction & Property, Finance, Consulting, Engineering, HVAC, Professional Services, Manufacturing, Other Construction & Property, Engineer, Public sector, Built environment, Heat, LEED AP, Ventilation, Lighting, LEED, Acquisition, MEP, Risk management

Bowman Consulting Group Ltd. (the “Company” or “Bowman”) (NASDAQ: BWMN), a national engineering services firm delivering infrastructure solutions to customers who own, develop, and maintain the built environment, today announced the acquisition of Moore Consulting Engineers (“Moore”), a mechanical, electrical, plumbing, and fire protection (“MEP/FP”) engineering firm based in Shamong, New Jersey.

Key Points: 
  • Bowman Consulting Group Ltd. (the “Company” or “Bowman”) (NASDAQ: BWMN), a national engineering services firm delivering infrastructure solutions to customers who own, develop, and maintain the built environment, today announced the acquisition of Moore Consulting Engineers (“Moore”), a mechanical, electrical, plumbing, and fire protection (“MEP/FP”) engineering firm based in Shamong, New Jersey.
  • Moore provides comprehensive MEP/FP engineering services to private and public sector clients throughout the United States.
  • “Moore Consulting Engineers adds additional depth to our growing MEP and fire protection practices,” said Gary Bowman, chairman and CEO of Bowman.
  • Several of Bowman’s recent acquisitions demonstrated to us their commitment to building a national MEP, fire protection, and sustainability practice,” said Jeffrey Moore, president of Moore.

Bowman Consulting Group Announces Dates for First Quarter 2024 Earnings Release and Webcast

Retrieved on: 
Wednesday, April 10, 2024
Manufacturing, Other Construction & Property, Commercial Building & Real Estate, Construction & Property, Engineering, Acquisition, Bowman

Bowman Consulting Group Ltd. (“Bowman” or the “Company”) (NASDAQ:BWMN) today announced that it will release financial results for the first quarter of 2024 after the U.S. financial markets close on Monday, May 6, 2024.

Key Points: 
  • Bowman Consulting Group Ltd. (“Bowman” or the “Company”) (NASDAQ:BWMN) today announced that it will release financial results for the first quarter of 2024 after the U.S. financial markets close on Monday, May 6, 2024.
  • The Company will host a webcast to discuss its first quarter results at 9:00 a.m.
  • Bowman Chairman and CEO Gary Bowman and Chief Financial Officer Bruce Labovitz will host the call followed by a question-and-answer session.
  • Bowman also confirmed that the previously announced acquisition of Surdex Corporation officially closed on Thursday, April 4, 2024.

Bowman Welcomes David Stickles, RPLS, PSM, PLS, to Expand Company’s Public Sector Geospatial Portfolio

Retrieved on: 
Tuesday, April 9, 2024
Engineering, Architecture, Other Professional Services, Manufacturing, Consulting, Other Construction & Property, Alternative Energy, Residential Building & Real Estate, Energy, Commercial Building & Real Estate, Professional Services, Construction & Property, Urban Planning, Landscape, SUE, M&T Bank Stadium, Built environment, Stickles, Growth, Florida Department, FDOT, RPLS, PLS, PSM, Acquisition, Maryland Department of Transportation, Public sector, Government, Management

Based out of Bowman’s Plano, TX office, he will focus on securing government and public sector contracts across Bowman’s 90+ locations throughout the United States.

Key Points: 
  • Based out of Bowman’s Plano, TX office, he will focus on securing government and public sector contracts across Bowman’s 90+ locations throughout the United States.
  • “My goal is to build upon Bowman’s reputation to secure its position as a leading service provider in the public sector,” said Stickles.
  • The recent Surdex acquisition adds a service that makes Bowman unique in its ability to provide comprehensive end-to-end solutions at all altitudes and resolutions.
  • “David's appointment holds strategic significance in enhancing Bowman’s reputation as a top-tier geospatial services provider,” said Aaron McMillan, vice president of geospatial at Bowman.

Bowman Enters into Definitive Agreement to Acquire Surdex Corporation, Adding High-Altitude Digital Imagery, Digital Mapping and Advanced Geospatial Services

Retrieved on: 
Wednesday, April 3, 2024
Software, Construction & Property, Consulting, Engineering, Professional Services, Technology, Other Construction & Property, Manufacturing, Built environment, Digital, GIS, Acquisition, Transport, Engineer, United States Geological Survey, Unmanned aerial vehicle, Public sector, Lidar, Navy

By combining traditional photogrammetric processes with state-of-the-art technology, Surdex provides reliable and accurate geospatial data with resolutions that make the imagery extremely flexible and valuable.

Key Points: 
  • By combining traditional photogrammetric processes with state-of-the-art technology, Surdex provides reliable and accurate geospatial data with resolutions that make the imagery extremely flexible and valuable.
  • Surdex possesses the in-house resources and skilled professional workforce necessary to undertake virtually any photogrammetric mapping project with any combination of digital orthoimagery, LiDAR, and/or digital topographic or planimetric mapping.
  • “Surdex’s portfolio of high-resolution image capture, orthoimage processing, and digital mapping services provides tremendous revenue synergy opportunities with our customers.
  • Adding state-of-the-art, high-altitude services to Bowman’s extensive array of terrestrial and low-altitude capabilities will create a compelling suite of full-service geospatial solutions.

Bowman Announces Pricing of Public Offering of Common Stock

Retrieved on: 
Wednesday, March 27, 2024
Engineering, Communications, Manufacturing, Public Relations, Investor Relations, BofA Securities, Built environment, Bowman, Telephone, Sale, Attention, Prospectus, Robert W. Baird, Roth Capital Partners, Security (finance)

Bowman Consulting Group Ltd. (the “Company” or “Bowman”) (NASDAQ: BWMN), a national engineering and infrastructure services firm supporting owners and developers of the built environment, announced today the pricing of its previously announced underwritten public offering at a public offering price of $34.00 per share.

Key Points: 
  • Bowman Consulting Group Ltd. (the “Company” or “Bowman”) (NASDAQ: BWMN), a national engineering and infrastructure services firm supporting owners and developers of the built environment, announced today the pricing of its previously announced underwritten public offering at a public offering price of $34.00 per share.
  • Gross proceeds to Bowman from the offering are expected to be approximately $45.0 million, before deducting underwriting discounts and commissions and estimated offering expenses.
  • Bowman and the selling stockholders have granted the underwriters an option to purchase up to an additional 220,588 shares of common stock at the public offering price, less underwriting discounts and commissions.
  • Bowman will not receive any proceeds from the sale of shares of common stock by the selling stockholders.

Bowman Announces Launch of Public Offering of Common Stock

Retrieved on: 
Tuesday, March 26, 2024
Professional Services, Engineering, Other Construction & Property, Manufacturing, Construction & Property, Consulting, BofA Securities, Built environment, Telephone, Sale, Attention, Prospectus, Robert W. Baird, Roth Capital Partners, Life insurance

Bowman Consulting Group Ltd. (the “Company” or “Bowman”) (NASDAQ: BWMN), a national engineering and infrastructure services firm supporting owners and developers of the built environment, announced today the commencement of an underwritten public offering of up to $50.0 million of shares of its common stock.

Key Points: 
  • Bowman Consulting Group Ltd. (the “Company” or “Bowman”) (NASDAQ: BWMN), a national engineering and infrastructure services firm supporting owners and developers of the built environment, announced today the commencement of an underwritten public offering of up to $50.0 million of shares of its common stock.
  • In addition, Bowman and the selling stockholders intend to grant the underwriters a 30-day option to purchase up to an aggregate of an additional $7.5 million of shares of the Company’s common stock at the price to the public, less underwriting discounts and commissions.
  • The proposed offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the proposed offering.
  • The offering will be made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement.

Bowman Appoints Dan Brewer, PE, to Grow Operations in the Carolinas

Retrieved on: 
Wednesday, March 20, 2024
Professional Services, Engineering, Other Professional Services, Other Construction & Property, Manufacturing, Construction & Property, Consulting, Built environment, Growth, Brewing

Bowman Consulting Group Ltd. (the Company or Bowman) (NASDAQ: BWMN), a national engineering services firm delivering infrastructure solutions to customers who own, develop and maintain the built environment, proudly announces the appointment of Dan Brewer, PE, to principal, regional manager, Carolinas’ operations.

Key Points: 
  • Bowman Consulting Group Ltd. (the Company or Bowman) (NASDAQ: BWMN), a national engineering services firm delivering infrastructure solutions to customers who own, develop and maintain the built environment, proudly announces the appointment of Dan Brewer, PE, to principal, regional manager, Carolinas’ operations.
  • Operating from Bowman’s Charlotte, NC, office, Brewer will oversee operations across four key offices—Charlotte, Raleigh, Charleston and Columbia—with a focus on driving growth and development across the region.
  • “It’s an honor to be joining Bowman in the Carolinas,” said Brewer.
  • “With his experience and reputation, Dan brings a formidable skill set to the table that will drive growth and innovation in our Carolinas' markets.”

Bowman Announces Fiscal Year 2023 Financial Results

Retrieved on: 
Monday, March 11, 2024
Commercial Building & Real Estate, Construction & Property, Consulting, Engineering, Professional Services, Urban Planning, Other Construction & Property, Manufacturing, Tax, Culture, Built environment, Organization, Growth, Acceleration, House of Representatives, EPS, Representative, Acquisition, IPO, Table, Adjustment, UTP, GAAP, IRC, State, Senate

Bowman Consulting Group Ltd. (Nasdaq: BWMN) (“Bowman” or the “Company”), a national engineering and infrastructure services firm supporting owners and developers of the built environment, today released financial results for the fiscal year ended December 31, 2023.

Key Points: 
  • Bowman Consulting Group Ltd. (Nasdaq: BWMN) (“Bowman” or the “Company”), a national engineering and infrastructure services firm supporting owners and developers of the built environment, today released financial results for the fiscal year ended December 31, 2023.
  • On November 17, 2023, the Company’s Board of Directors authorized a new $10.0 million repurchase program ("2023 Stock Repurchase Program").
  • Non-GAAP Adjusted Earnings per Share:
    In connection with the release of financial results for the three and nine months ended September 30, 2023, the Company introduced the new non-GAAP financial metric of adjusted earnings per share (“Adjusted EPS”).
  • 2 Non-GAAP financial metrics the Company believes offer valuable perspective on results of operations.