Bowman Consulting Group Announces Earnings Release Schedule and Preliminary 2023 Financial Results

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.