NASDAQ$BWMN
Bowman Consulting Group Ltd · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Bowman's financial performance was impacted by delays in project commencement, but backlog grew and diversification efforts showed promise.
Bowman Consulting Group reported a net loss of $2.0 million for the quarter ended June 30, 2024, despite a 26% increase in gross contract revenue to $104.5 million. The company faced challenges with the conversion of awards to revenue due to delays in project commencement, but backlog grew by nearly 5% from the end of last quarter and 19% year-over-year, excluding backlog acquired in Q2. The company is optimistic about improvements in the second half of the year and into 2025.
- Gross contract revenue increased by 26% to $104.5 million compared to the same period last year.
- Organic gross revenue increased by 5% year-over-year.
- Net loss was $2.0 million, compared to a net loss of $0.6 million in the prior year.
- Adjusted EBITDA increased by 21% to $13.4 million, but adjusted EBITDA margin decreased by 70 bps to 14.3%.
Headline financials
Revenue & EPS history
Bowman · Revenue · Quarterly
$105M
Revenue by segment
Bowman · $71.7M total across 2 segments · Q3 2023
- Building Infrastructure$51.9M+16.0%72.4%
- Transportation$19.8M+49.6%27.6%
Forward guidance
The Company is adjusting its full year 2024 outlook for net service billing to be in the range of $375 to $385 million and Adjusted EBITDA to be in the range of $58 to $63 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.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+1.6%
Avg return
Earnings day
+2.0%
Avg return
5 days after
+2.6%
Avg return
30 days after
67%
16 / 24 earnings
Positive
+17.1%
Q4 2024
Best reaction
-22.5%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +5.3% | +0.1% | -4.8% | |
| Q4 2025 | -12.4% | -12.3% | -10.0% | |
| Q3 2025 | -22.5% | -21.7% | -24.9% | |
| Q1 2025 | +5.4% | +10.9% | +19.1% | |
| Q4 2024 | +17.1% | +23.5% | +19.1% | |
| Q3 2024 | +6.1% | +14.6% | +27.7% | |
| Q2 2024 | -18.9% | -23.7% | -26.3% | |
| Q1 2024 | +6.2% | +1.6% | +1.0% | |
| Q4 2023 | +16.7% | +17.7% | -5.6% | |
| Q3 2023 | +1.2% | +4.6% | +11.5% | |
| Q2 2023 | -10.4% | -7.8% | -17.5% | |
| Q1 2023 | -7.8% | -7.5% | -3.1% | |
| Q4 2022 | -5.3% | -1.6% | -11.9% | |
| Q3 2022 | +15.6% | +18.4% | +24.4% | |
| Q2 2022 | +14.7% | +8.6% | +13.5% | |
| Q1 2022 | +4.2% | +11.3% | -10.3% | |
| Q4 2021 | +7.2% | +5.3% | +16.0% | |
| Q3 2020 | -0.8% | +0.7% | +12.8% | |
| Q3 2021 | +0.9% | +0.1% | +13.8% | |
| Q2 2020 | +1.1% | +0.3% | +1.4% | |
| Q2 2021 | -0.7% | -1.5% | +1.0% | |
| Q4 2020 | +5.7% | -2.1% | +2.6% | |
| Q1 2020 | +5.7% | -2.1% | +2.6% | |
| Q1 2021 | +4.8% | +10.8% | +10.0% |
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