NASDAQ$BWMN
Bowman Consulting Group Ltd · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Bowman's Q4 2023 performance reflected growth in gross contract revenue and net service billing, but a net loss was reported.
Bowman Consulting Group Ltd. reported a 23% increase in gross contract revenue and a 22% increase in net service billing for Q4 2023. However, the company experienced a net loss of $7.7 million compared to a net income of $0.5 million in the same period last year.
- Gross contract revenue increased by 23% to $93.0 million.
- Net service billing increased by 22% to $80.5 million.
- Organic gross contract revenue growth was 6%.
- The company reported a net loss of $7.7 million.
Headline financials
Revenue & EPS history
Bowman · Revenue · Quarterly
$93M
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 $363 to $378 million and Adjusted EBITDA in the range of $59 to $65 million.
Tailwinds
- Net service billing2 to be in the range of $363 to $378 million
- 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
- The current outlook does not include contributions from any future acquisitions
- Management discusses the Company’s acquisition pipeline and its prospective impact during regularly scheduled earnings calls
Headwinds
- 2024 forecast assumes uneven growth in net service billing from first to third quarter
- An accommodation for a modest seasonal impact during the fourth quarter
- 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
- 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
- Anticipated integration related revenue disruptions
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 Q4 2023
+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% |
Discussion
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