RESTON, Va. (AP) — RESTON, Va. (AP) — Bowman Consulting Group Ltd. (BWMN) on Tuesday reported a loss of $3.7 million in its first quarter.
On a per-share basis, the Reston, Virginia-based company said it had a loss of 22 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 14 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The professional services firm posted revenue of $126.5 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $128.3 million.
Bowman Consulting shares have increased 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $34, a climb of 51% in the last 12 months.
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