Bowman Consulting wins $4.2 million Illinois road project

RESTON, Va. - Bowman Consulting Group Ltd. (NASDAQ: BWMN), a national engineering services firm with a market capitalization of $365 million and impressive revenue growth of 23% over the last twelve months, has been awarded a $4.2 million contract by the Will County Board of Commissioners for construction engineering on an infrastructure project in Homer Glen, Illinois. The contract pertains to the overhaul of the Bell Road and 143rd Street intersection, a key transportation improvement initiative for the area.

The project, valued at $24 million, extends over 1.8 miles and encompasses a comprehensive pavement reconstruction, the erection of five cast-in-place and segmental block retaining walls, updates to traffic signals, and significant storm sewer enhancements including underground storage. The plan also includes the addition of new sidewalks and ramps compliant with the Americans with Disabilities Act (ADA). Bowman’s role will involve thorough construction management and oversight to ensure the project’s successful completion.

Gary Bowman, chairman and CEO of Bowman, expressed the company’s pride in being chosen for the project, citing it as a testament to their proven expertise in the transportation sector and their ability to manage large-scale, public-sector infrastructure projects. He emphasized the project’s alignment with Bowman’s strategic growth objectives and its potential to contribute to long-term shareholder value. According to InvestingPro data, the company maintains strong gross profit margins of 52% and expects continued growth with a 14% revenue increase forecast for the coming year.

Bowman Consulting Group has a history of involvement in complex transportation projects throughout Illinois, including work on the Mile Long Bridge and enhancements along the I-80 and I-55 corridors. This new contract is expected to reinforce Bowman’s standing in the region and demonstrate its disciplined strategy for organic growth and backlog visibility.

Based in Reston, Virginia, Bowman Consulting Group operates across the United States with over 2,300 employees in more than 100 locations. The company provides a wide array of services including planning, engineering, geospatial, construction management, commissioning, environmental consulting, land procurement, and other technical services for various regulated end markets. InvestingPro analysis suggests the stock is currently undervalued, with multiple growth indicators and financial metrics available in the comprehensive Pro Research Report, one of 1,400+ detailed company analyses available to subscribers.

This contract award is based on a press release statement from Bowman Consulting Group.

In other recent news, Bowman Consulting Group Ltd. reported a strong performance for the fourth quarter of 2024, with earnings per share of $0.33, surpassing the forecasted $0.24. The company also exceeded revenue expectations, reporting $98.6 million against a forecast of $97.85 million. Bowman secured two significant contracts in rural Colorado valued at $3.8 million, focusing on water resource management projects, showcasing its expertise in large-scale infrastructure. Additionally, Bowman was awarded a $2.2 million contract to design ADA-compliant curb ramps in Philadelphia, contributing to the city’s accessibility initiatives.

In terms of corporate governance, Bowman appointed Virginia Grebbien to its Board of Directors, bringing her extensive experience in the water sector to the company. On the analyst front, DA Davidson adjusted Bowman’s stock price target to $32.00 from $34.00, maintaining a Buy rating, reflecting broader market shifts. The firm noted Bowman’s commitment to organic growth and margin expansion as positive indicators for future share value. These developments highlight Bowman’s strategic focus on infrastructure projects and governance, positioning the company for continued growth.

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