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Willdan Group Reports First Quarter Results

WLDN
  • Willdan Group reported first quarter fiscal 2026 financial results for the period ended April 3, 2026.
  • Contract revenue reached $155.1 million, representing a 1.8% increase year-over-year or a 9.6% increase when normalized.
  • Net revenue totaled $92.4 million, up 8.3% year-over-year or 16.6% when normalized.
  • Net income was $8.5 million, an 82.0% increase year-over-year or 96.0% when normalized.
  • Adjusted EBITDA was $18.1 million, up 25.4% year-over-year or 35.0% when normalized.
  • GAAP diluted EPS was $0.55, up 71.9%, while adjusted diluted EPS was $0.91, up 44.4%.
  • The company completed the acquisition of Burton Energy Group subsequent to the quarter end to expand commercial market services.
  • Willdan raised its 2026 financial targets, now expecting adjusted EBITDA growth of 26% to 32% year-over-year.
  • Fiscal 2026 net revenue targets were set between $410 million and $425 million.
  • Fiscal 2026 adjusted EBITDA targets were set between $100 million and $105 million.
  • Fiscal 2026 adjusted diluted EPS targets were set between $4.90 and $5.05 per share.
  • The company maintains long-term goals of 15%-20% annual revenue growth including acquisitions.
  • Long-term adjusted EBITDA to net revenue margin goals are set in the high 20s%.
  • Cash and cash equivalents decreased to $28.3 million at April 3, 2026, from $65.9 million at January 2, 2026.
  • Accounts receivable increased to $80.8 million at April 3, 2026, compared to $64.6 million at January 2, 2026.
  • Total assets were $511.7 million at April 3, 2026, down from $544.2 million at January 2, 2026.
  • A conference call to discuss these results was scheduled for May 7, 2026, at 5:30 p.m. Eastern time.