Bowman Consulting Group, Ltd. ( (BWMN) ) has released its Q4 earnings. Here is a breakdown of the information Bowman Consulting Group, Ltd. presented to its investors.
Bowman Consulting Group Ltd., a national engineering services and program management firm, provides infrastructure engineering, technical services, and project management solutions across the United States.
Bowman Consulting Group has announced record financial results for the fourth quarter and full year of 2024, highlighting significant growth in revenue and net income. The company reported a strong increase in gross contract revenue and net service billing, alongside a notable rise in net income compared to the previous year.
Key financial metrics for the fourth quarter of 2024 include a 21.7% increase in gross contract revenue to $113.2 million and a 22.5% rise in net service billing to $98.6 million. The company also achieved a net income of $5.9 million, reversing a net loss from the previous year, and reported a 51.8% increase in adjusted EBITDA. For the full year, Bowman saw a 23.2% increase in gross contract revenue and a 24.9% rise in net service billing, with net income reaching $3.0 million. The company also made eight strategic acquisitions, expanding its market presence and service offerings.
Looking ahead, Bowman Consulting Group is optimistic about its growth trajectory for 2025, with plans to invest in service line expansions and technology tools to enhance service delivery and accelerate organic growth. The company remains confident in its ability to create value for shareholders despite potential economic challenges.
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