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RESTON, Va. - Bowman Consulting Group Ltd. (NASDAQ: BWMN), an engineering services firm, has received a $1.5 million supplemental contract from the City of Wenatchee, Washington, for overseeing the construction of bike and pedestrian bridges. This contract is an extension of Bowman’s previous work, which included environmental permitting and design for the Apple (NASDAQ:AAPL) Capital Loop’s South End Bike/Ped Access Bridges project. The company, currently valued at $337 million, has demonstrated strong revenue growth of 23.5% in the past year, according to InvestingPro data.
The project, which is partially funded by an INFRA grant, seeks to enhance safety and connectivity for non-motorized traffic in the Wenatchee Valley by providing grade-separated crossings over Washington SR 28 and the BNSF railway. The firm’s role as the engineer of record will encompass public outreach and full-service construction management tasks such as inspection and documentation.
Gary Bowman, chairman and CEO of Bowman, emphasized the significance of the company’s integrated approach to acquisitions and client relationship management in expanding market reach and fostering organic growth. He attributed the contract win to the firm’s national expertise and local engagement, which have helped build a reputation for delivering reliable and innovative solutions in transportation.
Bowman Consulting Group, with headquarters in Reston, Virginia, operates with over 2,300 employees across more than 100 locations in the United States. The company offers a range of services including planning, engineering, geospatial, construction management, environmental consulting, and more. This contract reflects Bowman’s growing construction management practice and its commitment to infrastructure development. Trading at $19.25, the stock appears undervalued according to InvestingPro’s Fair Value analysis, with analysts forecasting both sales and net income growth for the current year.
The information for this article is based on a press release statement from Bowman Consulting Group.
In other recent news, Bowman Consulting Group Ltd. has secured a four-year contract valued at $7.5 million to provide on-call engineering design services for the University of New Mexico (UNM). This contract includes surveying, civil engineering, and subsurface utility engineering services across UNM’s campuses and facilities, such as the main campus and UNM Hospital. Additionally, Bowman will utilize drone imaging and GIS modeling technologies to maintain digital records of the university’s utility infrastructure. This agreement builds on a longstanding relationship with UNM, further solidifying Bowman’s presence in the higher education sector.
In another development, Bowman has been awarded a two-year contract for a comprehensive aerial mapping project in Oklahoma, marking the state’s first such initiative in nearly three decades. The project involves capturing high-resolution digital orthoimagery over approximately 70,000 square miles to support state operations and public use. The data collected will assist various state agencies, including the Oklahoma Department of Transportation and Emergency 911 services, with applications ranging from infrastructure planning to emergency response.
Gary Bowman, chairman and CEO, emphasized the strategic importance of these contracts, highlighting the integration of acquired capabilities following Bowman’s recent purchase of Surdex. These developments reflect Bowman’s commitment to growth and its role in providing innovative solutions across different sectors.
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