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RESTON, Va. - Bowman Consulting Group Ltd. (NASDAQ:BWMN), a consulting firm showing strong revenue growth of 21.78% over the last twelve months, has been awarded a Phase II contract to continue providing aerial acquisition and orthoimagery services for the National Resource Inventory (NRI) program under the United States Department of Agriculture’s Farm Production and Conservation division (USDA-FPAC).
The engineering services firm will support data collection efforts covering approximately 11.2 million acres across the United States, following completion of an initial task order in 2024. This year, the NRI program will survey about 70,000 sites, averaging 160 acres per site. According to InvestingPro analysis, Bowman’s net income is expected to grow this year, with two analysts recently revising their earnings expectations upward.
The NRI program assesses the status, condition, and trends of land, soil, water, and related natural resources nationwide.
"Continued engagement with NRI and other agencies reflects the success of our strategy to build multi-year federal revenue streams that scale our geospatial technology offerings," said Gary Bowman, founder and CEO of Bowman Consulting Group.
According to the company, its proprietary sensor technologies and processing techniques have improved capture rates, image resolution, and delivery timelines for the USDA NRI program.
Bowman Consulting Group, headquartered in Reston, Virginia, employs over 2,400 people across more than 100 locations throughout the United States. The company, currently valued at $493.21 million, maintains impressive gross profit margins of 52.39% and provides planning, engineering, geospatial, construction management, commissioning, environmental consulting, and other technical services. InvestingPro analysis reveals 12 additional key insights about Bowman’s financial health and market position, available through their comprehensive Pro Research Report.
This information is based on a press release statement from Bowman Consulting Group.
In other recent news, Bowman Consulting Group Ltd. reported a robust financial performance for the first quarter of 2025, with revenue reaching $112.9 million, surpassing the forecasted $100.58 million. However, the company’s earnings per share (EPS) of $0.07 fell short of the expected $0.13. The company also demonstrated strong growth in transportation and power/utilities sectors, contributing to a 19% year-over-year revenue increase. In governance developments, Bowman Consulting restructured its leadership by separating the roles of chairman and CEO, appointing James Laurito as the new Chair of the Board while Gary Bowman continues as CEO. Additionally, Bowman Consulting has authorized a $25 million stock buyback program, set to commence in June 2025, as part of its long-term expansion plans. The company also reaffirmed its full-year guidance, projecting net revenues between $428 million and $440 million. Furthermore, stockholders ratified Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. These recent developments reflect Bowman’s strategic focus on growth and governance enhancements.
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