Bowman Consulting Group Announces Earnings Release Schedule and Preliminary 2023 Financial Results
16 Février 2024 - 10:05PM
Business Wire
Bowman Consulting Group Ltd. (“Bowman” or the “Company”)
(NASDAQ: BWMN), today announced the scheduling of its 2023 earnings
release and investor conference call along with preliminary results
for fiscal 2023 Net Service Billing and Adjusted EBITDA, both
non-GAAP financial measures.
The Company will release its financial results for the fourth
quarter and full year 2023 after the U.S. financial markets close
on Monday, March 11, 2024. The Company will host a webcast to
discuss its fourth quarter and full year results at 9:00 a.m. ET on
Tuesday, March 12, 2024. Bowman Chairman and CEO, Gary Bowman and
Chief Financial Officer, Bruce Labovitz will host the call followed
by a question-and-answer session. Links to the live webcast of the
event and subsequent replay of the event will be available on the
Bowman Investor Relations website at investors.bowman.com.
Based on preliminary, unaudited results, the Company expects to
report full year 2023 Net Service Billing of approximately $303
million and Adjusted EBITDA in the range of $44.5 to $46.0
million1. The Company noted that results were affected by a larger
than anticipated seasonal impact to utilization in December
throughout the Company’s core and acquired operations.
The preliminary financial results described herein are based
upon unaudited results and are subject to adjustment based on the
completion of the Company’s year-end financial closing procedures.
The Company will release audited results and reconciled non-GAAP
financial metrics and address 2024 guidance in connection with its
upcoming earnings release and conference call.
1 Non-GAAP financial metrics. See “Non-GAAP Financial Measures”
below for additional information.
About Bowman Consulting Group Ltd.
Headquartered in Reston, Virginia, Bowman is a national
engineering services firm delivering infrastructure solutions to
customers who own, develop, and maintain the built environment.
With over 2,000 employees and more than 90 offices throughout the
United States, Bowman provides a variety of planning, engineering,
geospatial, construction management, commissioning, environmental
consulting, land procurement and other technical services to
customers operating in a diverse set of regulated end markets.
Bowman trades on the Nasdaq under the symbol BWMN. For more
information, visit bowman.com or investors.bowman.com.
Forward-Looking Statements
This press release may contain “forward-looking statements”
within the meaning of the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. All statements
contained in this press release other than statements of historical
fact, including statements regarding our future results of
operations and financial position, business strategy and plans and
objectives for future operations, are forward-looking statements
and represent our views as of the date of this press release. The
words “anticipate”, “believe”, “continue”, “estimate”, “expect”,
“intend”, “may”, “will”, “goal” and similar expressions are
intended to identify forward-looking statements. We have based
these forward-looking statements on our current expectations and
projections about future events and financial trends that we
believe may affect our financial condition, results of operations,
business strategy, short-term and long-term business operations and
objectives and financial needs, These forward-looking statements
are subject to several assumptions and risks and uncertainties,
many of which involve factors or circumstances that are beyond our
control that could affect our financial results. The Company
cautions that these statements are qualified by important factors
that could cause actual results to differ materially from those
reflected by the forward-looking statements contained in this news
release. Such factors include: (a) changes in demand from the local
and state government and private clients that we serve; (b) general
economic conditions, nationally and globally, and their effect on
the market for our services; (c) competitive pressures and trends
in our industry and our ability to successfully compete with our
competitors; (d) changes in laws, regulations, or policies; and (e)
the “Risk Factors” set forth in the Company’s most recent SEC
filings. Considering these risks, uncertainties and assumptions,
the future events and trends discussed in this press release may
not occur and actual results could differ materially and adversely
from those anticipates or implied in any forward-looking
statements. Except as required by law, we are under no obligation
to update these forward-looking statements after the date of this
press release, or to update the reasons if actual results differ
materially from those anticipated in the forward-looking
statements.
Non-GAAP Financial Measures
We supplement our consolidated financial statements, which are
prepared and presented in accordance with GAAP, with certain
non-GAAP financial measures, to help represent, explain, and
understand our operating performance. These non-GAAP financial
measures may be different than similarly referenced measures used
by other companies. The non-GAAP measures are intended to enhance
investors’ overall understanding and evaluation of our financial
performance and should not be considered a substitute for, or
superior to, the financial information prepared and presented in
accordance with GAAP. We present these non-GAAP financial measures
to assist investors in seeing our financial performance in a manner
more aligned with management’s view and believe these measures
provide additional tools by which investors can evaluate our core
financial performance over multiple periods relative to other
companies in our industry. We only provide guidance on a non-GAAP
basis. We do not provide reconciliations of forward-looking Net
Service Billing or Adjusted EBITDA to the most directly comparable
GAAP financial measures, due to the inherent difficulty in
forecasting and quantifying certain amounts that are necessary for
such reconciliations. We will provide reconciliations of the final
calculations of these non-GAAP financial measures to the most
directly comparable GAAP financial measures when we report our
audited 2023 financial results.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240216973058/en/
Investor Relations Contacts: Bruce Labovitz ir@bowman.com
Larry Clark lclark@bowman.com
Bowman Consulting (NASDAQ:BWMN)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
Bowman Consulting (NASDAQ:BWMN)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024