Overview

* Bowman Q3 gross contract revenue grows 11% yr/yr but misses analyst expectations

* Net income for Q3 rises significantly compared to last year

* The infrastructure engineering consulting firm expands power and data center practices through acquisitions

Outlook

* Bowman reaffirms 2025 net revenue guidance of $430 mln to $442 mln

* 2026 net revenue expected between $465 mln and $480 mln

* 2026 adjusted EBITDA margin projected at 17.0% to 17.5%

Result Drivers

* STRONG DEMAND - Co cites robust demand and funding for infrastructure planning as key growth drivers

* ACQUISITIONS - Co expanded power and data center practices through acquisitions, enhancing service offerings

* TECH ENHANCEMENTS - Co added tech-enabled tools to improve solar and site planning practices

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Gross Miss $126.03 $130.20

Contract mln mln (7

Revenue Analysts

)

Q3 Net $6.62

Income mln

Q3 $18.30

Adjusted mln

EBITDA

Q3 16.30%

Adjusted

EBITDA

Margin

Q3 $5.29

Income mln

From

Operatio

ns

Q3 $61.63

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the construction & engineering peer group is "buy"

* Wall Street's median 12-month price target for Bowman Consulting Group Ltd ( BWMN ) is $45.00, about 5.5% above its November 4 closing price of $42.52

* The stock recently traded at 34 times the next 12-month earnings vs. a P/E of 39 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)