Willdan Group Stock Price, News & Analysis

Willdan Group, Inc. (WLDN) reported strong financial results for Q4 and fiscal year 2022, highlighting a 23% increase in consolidated contract revenue to $113.3 million and a 25% rise in net revenue to $64.6 million compared to Q4 2021. Notably, the net loss improved to $(0.4) million, a 52% decrease year-over-year. For FY 2022, contract revenue grew by 21% to $429.1 million, while net revenue increased by 12% to $226.6 million. However, adjusted Diluted EPS fell 43% to $0.88. The company anticipates a net revenue growth of 7% to 9% and adjusted Diluted EPS between $1.24 and $1.32 for FY 2023. Willdan's performance reflects robust demand across its energy efficiency and civil engineering segments.

Willdan Group, Inc. (NASDAQ: WLDN) is set to release its fourth-quarter 2022 financial results on March 9, 2023, after market close. Following this release, an investor conference call will take place at 5:30 p.m. ET (2:30 p.m. PT). The call will be accessible via a live audio webcast on Willdan's investor relations website. Investors can also dial in to participate. As a provider of professional services to utilities, government agencies, and private industry, Willdan's diverse offerings include energy efficiency, engineering, and financial consulting.

Willdan Group, Inc. (NASDAQ: WLDN) has announced a comprehensive decarbonization plan for five national parks in the Lake Superior region. The initiative, revealed at the Great Northern Festival, aims for a 100% reduction in greenhouse gas emissions through an investment of approximately $15 million. The plan includes energy efficiency upgrades and the electrification of heating and vehicles across 131 buildings, employing technologies such as air-source cold climate heat pumps. Support for this initiative stems from the Inflation Reduction Act, demonstrating a model for sustainable practices applicable to other parks nationwide.

Willdan Group, Inc. (NASDAQ: WLDN) has announced a $4.3 million contract for upgrades to the Weyerhaeuser King County Aquatic Center through energy savings performance contracts. The upgrades, guided by a competitive investment grade audit, include refinishing pool surfaces and replacing HVAC and heating equipment with a high-efficiency, all-electric system. This initiative aligns with King County's commitment to low-carbon improvements and follows Willdan's prior energy projects at the facility, which has hosted over 50 events annually and generates more than $7.5 million in economic impact for the region.

Willdan Group, Inc. (NASDAQ: WLDN) has secured a $5 million contract from Trinidad School District for energy and infrastructure renovations at Trinidad High School. The project will enhance the school's HVAC, ventilation, and lighting systems, along with replacing the roof and plumbing across three buildings. Willdan had previously developed a master plan for the district and conducted prior upgrades for Trinidad Middle School. This contract reflects Willdan's ongoing commitment to improving educational facilities and energy efficiency.

Willdan Group, Inc. (NASDAQ: WLDN) has been awarded a $3.8 million energy savings performance contract for The Evergreen State College. This 16-month project includes upgrading Lab II with new HVAC control valves, integrating digital control platforms, and refurbishing outdated systems. Prioritizing budget adherence, the plan uses savings from gas and electricity bills. This marks Willdan's third collaboration with Evergreen, following successful prior projects that reduced gas consumption by 25%.

Willdan Group, Inc. (NASDAQ: WLDN) has been awarded an $11 million contract by Azusa Unified School District to enhance energy conservation and infrastructure across 12 campuses. The project will focus on upgrading HVAC systems, air filtration, and overall occupant comfort. The district is utilizing the Elementary and Secondary School Emergency Relief Fund to finance these improvements, aiming to boost indoor air quality and ensure safe operations for students and staff.

Willdan Group, Inc. (Nasdaq: WLDN) reported its third quarter financial results for 2022, revealing a consolidated contract revenue of $121.4 million, marking a 23.5% increase year-over-year. Net revenue rose 8.2% to $58.9 million, while net income was $0.1 million or $0.01 per diluted share. Adjusted net income stood at $5.6 million, with an adjusted EBITDA of $8.0 million. For the nine months, consolidated contract revenue reached $315.9 million but reported a net loss of $8.0 million.

Willdan Group, Inc. (NASDAQ: WLDN) has secured a $57 million contract for a three-year small business energy efficiency program across several states. The company has been providing these services since the program's launch, focusing on technical support and project implementation related to refrigeration, HVAC, and lighting upgrades.

CEO Tom Brisbin emphasized the program's role in aiding small businesses post-pandemic while contributing to reduced carbon footprints. For more details about Willdan's offerings, visit their website.