Bowman Q2 revenue beats estimates on organic service billing growth

Bowman Consulting

10/08/2026 12:43

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

Outlook
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

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

Company press release: ID:nGNX32t2mD

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Gross Contract Revenue
Beat
$146.13 mln
$138.64 mln (6 Analysts)
Q2 Adjusted EPS
Beat
$0.62
$0.33 (7 Analysts)
Q2 Net Income
 
$2.50 mln
 
Q2 Adjusted EBITDA
 
$24.10 mln
 
Q2 Adjusted EBITDA Margin
 
19.00%
 
Q2 Income From Operations
 
$8.13 mln
 
Q2 Operating Expenses
 
$69.61 mln
 

Analyst Coverage
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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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)