Bowman Consulting Group Ltd (NAS:BWMN)

Q3 2025 Bowman Consulting Group Ltd Earnings Call Transcript

Nov 6, 2025 / 02:00 PM GMT

Release Date Price: $34.46 (-22.44%)

Transcript 10-Q8-K

Key Points

Positve

Bowman Consulting Group Ltd (BWMN) surpassed a $500 million annualized gross revenue pace, marking a significant milestone.
The company achieved 11% year-over-year growth in both gross and net revenue, with a 7.6% growth in adjusted EBITDA.
Backlog grew nearly 18% year-over-year to $448 million, indicating strong demand across end markets.
Cash flow from operations more than doubled to $26.5 million, demonstrating improved capital efficiency.
The power, utilities, and energy division is the fastest-growing market, up 38% year-over-year, driven by national investment in electrification and renewables.

Negative

The government shutdown is causing delays in project progression and invoicing within select federally supported programs.
There is a slight decline in the natural resources and imaging segment due to revenue reallocation.
The company faces challenges in labor availability, although it has a strong recruitment strategy in place.
SG&A expenses have increased, though the company aims to manage overhead growth below revenue growth.
Some project starts have been delayed, attributed to project-specific issues rather than macroeconomic factors.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BWMN.OQ - Bowman Consulting Group Ltd
Q3 2025 Bowman Consulting Group Ltd Earnings Call
Nov 06, 2025 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning. My name is Jasmin, and I will be the conference operator today. At this time, I would like to welcome everyone to the Bowman Consulting 3rd quarter 2025 conference call.

All lines will be placed on mute for the presentation portion of the call with the opportunity for questions and answers at the end. Please note that many of the comments made today are considered forward-looking statements under federal security laws. As described in the company's filing with the SEC, these statements are subject to numerous risks and uncertainties that could cause future results to differ from those expressed, and the company is not obligated to publicly update or revise these forward-looking statements. In

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