Bowman Consulting Group Ltd. - BWMN STOCK NEWS

Bowman Consulting Group (NASDAQ: BWMN) has secured a $4.2 million construction engineering contract from the Will County Board of Commissioners for a major intersection reconstruction project in Homer Glen, Illinois. The total infrastructure project, valued at $24 million, covers 1.8 miles of the Bell Road and 143rd Street intersection.

The scope includes full pavement reconstruction, construction of five retaining walls, traffic signal modernization, and storm sewer upgrades with underground storage. The project will also feature new sidewalks and ADA-compliant ramps. Bowman will provide comprehensive construction management, oversight, and documentation services.

The company has previously managed significant transportation projects in Illinois, including the Mile Long Bridge and improvements along the I-80 and I-55 corridors.

Bowman Consulting Group (NASDAQ: BWMN) has scheduled its first quarter 2025 earnings release and webcast. The company will release its Q1 2025 financial results after U.S. market close on Tuesday, May 6, 2025.

A webcast to discuss the quarterly results will be held at 9:00 a.m. ET on Wednesday, May 7, 2025, hosted by Chairman and CEO Gary Bowman and CFO Bruce Labovitz. The webcast will be accessible through the company's investor relations website at investors.bowman.com, with a replay available following the event.

Bowman Consulting Group (NASDAQ: BWMN) has appointed Virginia L. Grebbien to its Board of Directors as an independent director. Grebbien, who brings over 30 years of public and private water sector experience, will serve on the compensation and nominating/corporate governance committees starting May 23, 2025.

Previously at Parsons (NYSE: PSN) for 13 years, Grebbien held various leadership roles including EVP of business development, president of multiple divisions, and chief corporate affairs officer. She played a important role in Parsons' transformation into a global digital technology company and its 2019 IPO before retiring in 2021.

Before Parsons, she held leadership positions at major Southern California water management agencies and spent three years at Warburg Pincus. Grebbien is a registered professional engineer in California with extensive board experience in public and private companies.

Bowman Consulting Group (NASDAQ: BWMN) has secured a $2.2 million contract to design 1,236 ADA-compliant curb ramps across 355 intersections in Philadelphia. This marks the company's fifth consecutive ADA-related contract in the city, supporting Philadelphia's initiative to install 10,000 ADA-compliant curb ramps by April 2038.

Under previous four contracts valued at $5.1 million, Bowman has delivered or is delivering 3,480 curb ramps at 920 intersections. The new contract scope includes comprehensive ADA design services, engineering compliance with PennDOT and City standards, right-of-way assessments, site condition evaluations, and alternative ramp configurations.

Bowman Consulting Group (NASDAQ: BWMN) has secured two major water resource contracts in rural Colorado worth $3.8 million, with a combined construction value of nearly $40 million. The projects include:

1. A collection system rehabilitation featuring:

• 73,000 linear feet of sewer main replacement
• 15,000 linear feet of cured-in-place piping
• 270 manholes rehabilitation
• Two lift stations upgrades

2. A water system improvement project comprising:

• 450,000-gallon elevated storage tank construction
• 14,000 linear feet of new water lines installation

Bowman will manage the full project lifecycle, including design and construction oversight, while providing inspection and survey services. The company's long-standing relationships with both clients position it for future infrastructure initiatives.

Bowman Consulting Group (NASDAQ: BWMN) reported strong financial results for Q4 and full-year 2024. Q4 highlights include gross contract revenue of $113.2M (up 21.7% YoY), net income of $5.9M (vs -$7.7M), and Adjusted EBITDA of $17.0M (up 51.8%).

Full-year 2024 showed gross contract revenue of $426.6M (up 23.2%), net income of $3.0M (vs -$6.6M loss), and operating cash flows of $24.3M (vs $11.7M). The company completed eight strategic acquisitions, expanding its market presence and technical services.

The company's backlog grew 30.4% to $399.0M, with strong bookings in H2 2024. Bowman repurchased $34.4M of common stock during 2024 at an average price of $26.56 per share, with $11.0M remaining under current authorization.

Bowman Consulting Group (NASDAQ: BWMN) has secured a $1.5 million supplemental contract from the City of Wenatchee, Washington for construction oversight of bike and pedestrian bridges. The contract builds upon Bowman's previous work on environmental permitting and design for the project.

As the engineer of record, Bowman will provide public outreach and comprehensive construction management services, including inspection and documentation for bridges along the Apple Capital Loop. The project, partially funded by an INFRA grant, aims to improve safety by creating grade-separated crossings over Washington SR 28 and the BNSF railway.

The contract leverages Bowman's recent Exeltech acquisition, strengthening their bridge-related transportation solutions capabilities. The project is part of an 11-mile multimodal corridor in the Wenatchee Valley, known as the Apple Capital Loop.

Bowman Consulting Group (NASDAQ: BWMN), a national engineering services firm, has announced its participation in two major investor conferences in March. Chief Financial Officer Bruce Labovitz will represent the company at:

• The 37th Annual Roth Conference from March 16-18 in Dana Point, California
• The TD Securities Distinctive Industrials & Infrastructure Services Conference from March 24-25 in Toronto, Ontario

Bowman Consulting Group (NASDAQ: BWMN) has secured a $6 million on-call design and engineering services contract with the City of Montebello, California. The three-year agreement, valued at $2 million annually, includes two optional one-year extensions that could increase the total contract value to $10 million over five years.

The scope encompasses municipal and civil engineering, capital improvement project management, construction management, traffic engineering, plan review, grant administration support, and staff augmentation services. Initial task orders include catch basin retrofits, sewer system auditing, roadway enhancements, and a citywide pavement management program.

This contract builds upon Bowman's 20+ year relationship with Montebello and demonstrates the company's successful integration of acquired operations to generate organic growth.