Bowman Consulting authorizes $25 million stock buyback

RESTON, Va. - Bowman Consulting Group Ltd. (NASDAQ: BWMN), a national engineering and technical services provider with a market capitalization of $459 million, announced today a new share repurchase program authorized by its Board of Directors. The company may repurchase up to $25 million of its common stock starting June 9, 2025. This repurchase plan supersedes the previous authorization set to expire today. According to InvestingPro data, the company has demonstrated strong financial performance with impressive revenue growth of 21.8% over the last twelve months.

The program, which is expected to run for the next 12 months, will allow the management to buy back shares based on various factors, including market conditions and share price. The repurchases could be made through open market transactions, privately negotiated deals, or other methods that comply with the Securities Exchange Act of 1934.

Bowman has stated that it will continue to focus on organic growth and strategic acquisitions as part of its long-term expansion plans. However, the new share repurchase program does not require the company to acquire any specific number of shares and can be altered, paused, or stopped without prior notice.

Headquartered in Reston, Virginia, Bowman operates across the United States with over 2,400 employees in 100 locations. The company serves a diverse clientele in regulated markets, offering services such as planning, engineering, geospatial, construction management, and environmental consulting. Currently trading at $26.65, InvestingPro analysis suggests the stock is undervalued, with strong gross profit margins of 52.4%. Subscribers to InvestingPro can access 12 additional exclusive insights and a comprehensive Pro Research Report, part of the platform’s coverage of 1,400+ US stocks.

This press release contains forward-looking statements, which are based on current expectations and projections. These statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Factors that may affect Bowman’s financial results include changes in demand from clients, economic conditions, industry competition, regulatory changes, and other risks outlined in the company’s SEC filings. However, InvestingPro reports that two analysts have revised their earnings upwards for the upcoming period, and net income is expected to grow this year.

The information in this article is based on a press release statement from Bowman Consulting Group Ltd.

In other recent news, Bowman Consulting Group Ltd announced its first-quarter 2025 earnings, revealing a significant revenue increase that surpassed forecasts. The company reported revenue of $112.9 million, exceeding the anticipated $100.58 million. However, earnings per share (EPS) were lower than expected, with actual EPS at $0.07 compared to the forecasted $0.13. The revenue growth was largely driven by strong performances in the transportation and power/utilities sectors. Additionally, Bowman Consulting’s adjusted EBITDA rose by 19.6% to $14.5 million, demonstrating operational improvements despite a net loss of $1.7 million.

In a strategic move, the company also restructured its leadership, separating the roles of chairman and CEO to enhance governance. James Laurito was elected as the new Chair of the Board, while Gary Bowman continued as CEO. Furthermore, Ernst & Young LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2025. These recent developments highlight Bowman’s ongoing efforts to strengthen its financial and governance frameworks.

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