Bowman reaffirms 2026 net revenue guidance of $520 mln to $540 mln
Company maintains 2026 Adjusted EBITDA margin outlook at 17.2% to 17.7%
Bowman expects meaningful improvements in cash conversion and leverage in H2 2026
Overview
U.S. engineering services firm's Q2 gross contract revenue rose 20%, beating analyst expectations
Adjusted EPS for Q2 beat analyst consensus
Company to be acquired by Bernhard Capital Partners for $43 per share in cash
Result Drivers
Organic growth - Co said organic net service billing growth accelerated to 13% in Q2, reflecting underlying business strength
Strategic investments - Co invested in geospatial collection and data processing operations, expanded land services in the southwest, and increased operating capacity to support growth
Backlog and demand - Co reported backlog rose to $659 mln and said demand remains healthy across markets, with recent wins leading to larger assignments
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction & engineering peer group is "buy"
Wall Street's median 12-month price target for Bowman Consulting Group Ltd. is $55.00, about 102% above its August 7 closing price of $27.23
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 22 three months ago
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