Core Insights - Bowman Consulting Group Ltd. has been awarded a $1.5 million contract for a $24 million municipal water system upgrade in Del Norte, Colorado, marking the town's largest water infrastructure project to date [1][2] - The project will replace a water system over 60 years old, addressing issues such as line breaks and rising maintenance costs, and includes significant infrastructure upgrades [3][4] Company Overview - Bowman Consulting has a decade-long relationship with Del Norte, having supported nearly ten local initiatives, including roadway improvements and a downtown beautification initiative [2] - The company emphasizes its experience in water infrastructure as a critical factor in capturing a growing market, with the EPA estimating over $625 billion needed for water infrastructure improvements in the next 20 years [4][5] Strategic Positioning - The project aligns with Bowman's long-term strategy to expand its presence in essential public infrastructure, aiming to generate durable, high-value backlog [3][4] - Bowman's capabilities in managing complex infrastructure projects are highlighted as a strength that supports steady business growth and community benefits [5]

Core Viewpoint - Bowman Consulting Group Ltd. has announced a new share repurchase program authorizing the repurchase of up to $25 million of its common stock over the next 12 months starting June 9, 2025, replacing the previous authorization that ends on June 6, 2025 [1][2]. Group 1: Share Repurchase Program - The new share repurchase program allows the company to buy back shares based on management's discretion, considering factors such as share price, market conditions, and capital allocation priorities [2]. - The repurchase may occur through various means, including open market purchases and privately negotiated transactions, and is subject to applicable securities laws [2]. - The program does not obligate the company to repurchase a specific number of shares and can be suspended or modified at any time without notice [2]. Group 2: Company Overview - Bowman Consulting Group Ltd. is a national provider of technical engineering and program management services, headquartered in Reston, Virginia [3]. - The company employs over 2,400 individuals across 100 locations in the United States, offering a range of services including planning, engineering, geospatial, construction management, and environmental consulting [3]. - Bowman trades on the Nasdaq under the symbol BWMN [3].

Group 1 - Bowman Consulting Group Ltd. will celebrate its 30th anniversary by ringing the Nasdaq Stock Market opening bell on June 9, 2025 [1][2] - The event will feature founder and CEO Gary Bowman, along with the leadership team and employees, highlighting the company's evolution as a trusted provider of engineering services [2][3] - Since its founding in 1995, Bowman has transformed from a small civil engineering firm into a national engineering and project management company, achieving significant growth through geographic and service line expansion, over 35 acquisitions, and a four-fold increase in revenue [3][4] Group 2 - Bowman Consulting is headquartered in Reston, Virginia, and employs over 2,400 people across more than 100 locations in the United States [4] - The company provides a wide range of services including planning, engineering, geospatial, construction management, commissioning, environmental consulting, and land procurement to various regulated end markets [4]

Core Points - Bowman Consulting Group Ltd. held its 2025 Annual Meeting of Stockholders on May 24, 2025, where Gary Bowman and Stephen Riddick were re-elected as directors for three-year terms expiring in 2028 [1] - The Board of Directors decided to separate the roles of chairman and chief executive officer, appointing James Laurito as Chair of the Board while Gary Bowman remains as CEO [2][3] - The appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified by stockholders during the annual meeting [4] Company Governance - James Laurito, who has been an independent director since March 2021, has extensive experience in mergers and acquisitions, strategy, and technology from his previous roles at Fortis, Inc. and Central Hudson Gas & Electric [3] - The Board also appointed Patricia Mulroy as chair of the Compensation Committee, while Stephen Riddick and Raymond Vicks, Jr. will continue to chair the Nominating and Corporate Governance Committee and the Audit Committee, respectively [2][4] Company Overview - Bowman Consulting Group Ltd. is headquartered in Reston, Virginia, and provides engineering services and program management solutions across the United States [5] - The company employs over 2,300 individuals in more than 100 locations, offering a range of services including planning, engineering, geospatial, and environmental consulting [5]

Company Overview - Bowman Consulting Group Ltd. is a national engineering services and program management firm headquartered in Reston, Virginia [1] - The company employs over 2,300 individuals across more than 100 locations in the United States [1] - Bowman provides a wide range of services including planning, engineering, geospatial, construction management, commissioning, environmental consulting, and land procurement [1] Upcoming Investor Conferences - The company will participate in the Stifel 2025 Cross Sector 1x1 Conference on June 3-4 in Boston, MA [2] - Additionally, Bowman will attend the 15th Annual ROTH London Conference from June 24-26 in London, UK [2]

Core Insights - Bowman Consulting Group Ltd. has been awarded a $1.3 million contract for the design and development of ATEC Parkway, a two-mile roadway in Aurora, Colorado, which is part of the larger Aurora Highlands community development [1][2] - The company is managing over $500 million in infrastructure projects in The Aurora Highlands, indicating a strong presence in the Denver metro area [2] - The ATEC Parkway project is the District's first infrastructure initiative, which is expected to facilitate future developments and enhance connectivity within the region [3] Company Overview - Bowman Consulting Group is a national engineering services firm headquartered in Reston, Virginia, with over 2,300 employees across more than 100 locations in the United States [4] - The firm specializes in providing infrastructure, technology, and project management solutions to various regulated end markets [4] - Bowman trades on the Nasdaq under the symbol BWMN, indicating its status as a publicly listed company [4]

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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q _____________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-40371 _____________________________________________ BOWMAN CONSULTING GROUP LTD. (Exact Name of Reg ...

Bowman Consulting Group (BWMN) Q1 2025 Earnings Call May 07, 2025 09:00 AM ET Company Participants Gary Bowman - CEO & ChairmanBruce Labovitz - CFOLiam Burke - Managing Director Conference Call Participants Aaron Spychalla - Research AnalystJeff Martin - Director of Research & Senior Research AnalystBrent Thielman - MD & Senior Research Analyst Operator Good morning. My name is Becky, and I'll be the conference operator today. At this time, I would like to welcome everyone to the Bowman Consulting Group Fir ...

Financial Data and Key Metrics Changes - Gross revenue increased by 19% to $112.9 million compared to $94.9 million last year [8] - Net service billing grew by 17% to $100.1 million from $85.7 million last year [8] - Adjusted EBITDA was $14.5 million, up 19.6% compared to $12.1 million last year [10] - Gross margin increased slightly to 51.4% from 50.6% last year [9] - Cash flow from operations improved to $12 million compared to $2.5 million last year, with 83% operational cash flow conversion [13] Business Line Data and Key Metrics Changes - Transportation revenue grew by 30%, accounting for approximately 21% of total revenue, up from 19% last year [11] - Power and Utilities revenue grew by 16%, accounting for 19% of revenue, down from 19.5% last year [11] - Building Infrastructure revenue grew by 6%, accounting for roughly 49% of revenue, down from 56% last year [11] - Emerging Markets revenue grew by 118%, accounting for 11% of revenue, up from 6% last year [11] Market Data and Key Metrics Changes - Organic net revenue growth was approximately 6%, doubling last year's growth [12] - Transportation led organic growth at approximately 15%, followed by Emerging Markets at 10% [12] Company Strategy and Development Direction - The company emphasizes a high net to gross ratio to ensure long-term organic growth and free cash flow [9] - A three-pronged capital allocation strategy focuses on internal initiatives, acquisitions, and share repurchases [16] - The company aims to leverage innovation, geolocation, and automation to enhance operations and productivity [16] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the outlook for the transportation sector, citing strong order pipelines [30][31] - The company expects continued growth driven by federal investments in infrastructure and domestic re-industrialization [25][26] - Full-year guidance is reaffirmed with net revenues expected in the range of $428 million to $440 million [27] Other Important Information - The backlog at the end of Q1 was $419 million, a nearly $90 million increase from last year [15] - The company repurchased $6.7 million of common stock during the quarter [14] Q&A Session Summary Question: Transportation order activity outlook - Management indicated that the transportation sector has a strong outlook with many large orders in the pipeline despite a slight downturn in Q1 [30][31] Question: Drivers of growth in Power segment - Growth drivers include data centers, grid capacity expansion, and weather-related infrastructure fortification [32] Question: M&A market conditions - Management noted that while valuations remain strong, they are actively pursuing larger acquisitions to drive inorganic growth [35][36] Question: Macro conditions affecting business segments - Management reported strong new bookings across all verticals, reaffirming guidance despite macroeconomic uncertainties [44] Question: Technology investment and staffing - Management believes the current workforce is stable enough to handle expected revenue growth, with plans for increased technology investment [51][52] Question: Trends in Building Infrastructure - The building infrastructure segment is seeing strength in both residential and commercial projects, with a robust flow of backlog to start [60][63] Question: Backlog conversion rates - Management confirmed that 70% to 80% of backlog typically converts within twelve months, though larger projects may extend this timeframe [68][69] Question: Impact of AI on the business - The company is cautiously integrating AI into operations but has not yet seen significant competitive advantages from it [73]