Bowman Consulting Group Ltd. (BWMN) Tops Q4 EPS by 31c, updates FY 2024 guidance

Bowman Consulting Group Ltd. (NASDAQ: BWMN) reported Q4 EPS of $0.31, $0.31 better than the analyst estimate of $0.00. Revenue for the quarter came in at $93 million versus the consensus estimate of $81.04 million.

Updating FY 2024 Guidance

The Company is adjusting its full year 2024 outlook for net service billing2 to be in the range of $363 to $378 million and Adjusted EBITDA2 in the range of $59 to $65 million. The current outlook for 2024 is based on completed acquisitions as of the date of this release and does not include contributions from any future acquisitions. Management discusses the Company’s acquisition pipeline and its prospective impact during regularly scheduled earnings calls.

“Our 2024 forecast assumes uneven growth in net service billing from first to third quarter with an accommodation for a modest seasonal impact during the fourth quarter,” said Bruce Labovitz, Chief Financial Officer at Bowman. “Generally speaking, we have found that it can take acquisitions a couple of months to return to normal net service billing levels due to the unusual demands of immediate post-closing integration. We reiterate that when acquisitions are added to guidance, we include a pro-rated amount of announced annualized net service billing run rate that is based on the timing of closing and anticipated integration related revenue disruptions.”

For earnings history and earnings-related data on Bowman Consulting Group Ltd. (BWMN) click here.

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