Willdan Group (WLDN) Company Report

Willdan Group achieved record financial performance in fiscal year 2025, with contract revenue growing 21% to $682 million and net revenue increasing 23% to $365 million. Adjusted EBITDA rose 40% year-over-year to $79.5 million, and adjusted EPS reached $4.89 per share. The company also ended the year in a net cash position of $17 million.
For fiscal year 2026, Willdan Group provided guidance for net revenue in the range of $390 million-$405 million, adjusted EBITDA in the range of $85 million-$90 million, and adjusted earnings per share in the range of $4.50-$4.70 per share. This guidance assumes a full-year effective tax benefit of approximately 10% and excludes future acquisitions.
The projected decrease in adjusted EPS for 2026 compared to 2025 is primarily attributed to the anticipated expiration of the Section 179D tax provision at the end of June 2026, which significantly reduced the tax benefit compared to the 31.4% effective tax benefit recorded in 2025.
The company is experiencing strong growth in its commercial segment, particularly from power for data centers, which rapidly grew to 11% of revenue in 2025. The APG acquisition, focused on power engineering solutions for data centers, is expected to more than double in 2026, with backlog extending into 2027 and 2028.

1 day ago

Transcript

Willdan Group Reports Record FY 2025 Financial Results and Provides 2026 Guidance

WLDN

Earnings

Guidance Update

M&A

Willdan Group achieved record financial performance in fiscal year 2025, with consolidated contract revenue growing 21% to $682 million, net revenue increasing 23% to $365 million, and Adjusted EBITDA rising 40% to $79.5 million. The company ended 2025 with a net cash position of $17 million.
For Q4 2025, contract revenue increased 21% to $174 million, net revenue grew 13% to $89.5 million, and adjusted earnings per share more than doubled to $1.57.
The company issued 2026 financial guidance, projecting net revenue between $390 million and $405 million, Adjusted EBITDA between $85 million and $90 million, and Adjusted EPS between $4.50 and $4.70 per share. The anticipated decrease in EPS from 2025 is mainly due to the expected expiration of Section 179D tax deductions by June 2026.
Growth is significantly fueled by electric load growth from AI and data centers, with work from the APG acquisition in this sector expected to more than double in 2026. Willdan is actively pursuing acquisitions to further expand its capabilities, especially for commercial customers.

1 day ago

Transcript

Willdan Group announces Q4 and FY 2025 results and 2026 financial targets

WLDN

Earnings

Guidance Update

Revenue Acceleration/Inflection

Willdan Group achieved a record year in FY 2025, with Net Revenue increasing 23% to $365 million and Adjusted EPS growing 101% to $4.89 compared to FY 2024. This growth was driven by 17% organic and 6% acquisitive growth.
For Q4 2025, the company reported Net Revenue of $89.5 million, a 13% increase from Q4 2024, and Adjusted EPS of $1.57, up 109% year-over-year.
The company issued 2026 financial targets, forecasting Net Revenue between $390 million and $405 million, Adjusted EBITDA between $85 million and $90 million, and Adjusted Diluted EPS between $4.50 and $4.70.
Willdan Group maintained a strong financial position, ending FY 2025 with a Net Cash position of $17 million as of January 2, 2026. The company also noted a positive long-term outlook due to rising electricity demand, particularly from a 35 GW active construction pipeline for data centers in the U.S..

1 day ago

Presentation

Willdan Group Announces Record Q4 and Full Year 2025 Results and Provides 2026 Guidance

WLDN

Earnings

Guidance Update

New Projects/Investments

Willdan Group reported record financial performance in fiscal year 2025, with contract revenue up 21% to $682 million, net revenue up 23% to $365 million (17% organic), and adjusted EBITDA increasing 40% to $79.5 million.
The company achieved an adjusted EBITDA margin of 21.8% in 2025, exceeding its 20% target for the first time, and generated $71 million in free cash flow, ending the year in a net cash position of $17 million.
Growth was broad-based, with the energy segment representing 85% of revenue, and commercial customers, particularly those tied to data centers, rapidly growing to 11% of revenue. Work related to data centers from the APG acquisition is expected to more than double in 2026.
For fiscal year 2026, Willdan Group expects net revenue in the range of $390 million to $405 million, adjusted EBITDA between $85 million and $90 million, and adjusted earnings per share of $4.50 to $4.70.
The 2026 adjusted EPS guidance reflects an assumed full-year effective tax benefit of approximately 10%, a significant change from the 31.4% tax benefit in 2025 due to the expected expiration of the Section 179D provision at the end of June 2026.

1 day ago

Transcript

Willdan Group, Inc. Reports Q4 and Full Year 2025 Results, Provides 2026 Outlook

WLDN

Earnings

Guidance Update

M&A

Willdan Group, Inc. announced strong financial results for the fourth quarter and full fiscal year ended January 2, 2026.
For Q4 2025, Net revenue increased by 12.9% to $89.5 million, and Adjusted Diluted EPS rose by 109.3% to $1.57 compared to the prior year period.
For the full fiscal year 2025, the company achieved Net revenue of $364.8 million, up 23.1%, and Adjusted Diluted EPS of $4.89, up 101.2% year-over-year.
The company provided a positive outlook for fiscal year 2026, targeting Net revenue between $390 million and $405 million, and Adjusted Diluted EPS between $4.50 and $4.70 per share.
Management highlighted double-digit full year organic growth across key metrics and the completion of three strategic acquisitions in 2025, attributing growth to "AI and data centers are driving electricity demand and increasing grid complexity".

Metric	Q4 2025	FY 2025	FY 2026 Target
Net Revenue ($USD Millions)	$89.5	$364.8	$390 - $405
Adjusted EBITDA ($USD Millions)	$20.0	$79.5	$85 - $90
Adjusted Diluted EPS ($USD)	$1.57	$4.89	$4.50 - $4.70

1 day ago

8-K

Willdan Group Reports Strong Q4 and Full Year 2025 Results, Provides 2026 Outlook

WLDN

Earnings

Guidance Update

Revenue Acceleration/Inflection

Willdan Group announced strong fourth quarter 2025 financial results, with contract revenue increasing 20.6% to $173.7 million, net revenue rising 12.9% to $89.5 million, net income up 143.4% to $18.7 million, and Adjusted Diluted EPS growing 109.3% to $1.57.
For the full fiscal year 2025, the company reported contract revenue of $681.6 million (up 20.5%), net revenue of $364.8 million (up 23.1%), net income of $52.6 million (up 132.9%), and Adjusted Diluted EPS of $4.89 (up 101.2%).
The company provided fiscal year 2026 financial targets, projecting net revenue between $390 million and $405 million, Adjusted EBITDA between $85 million and $90 million, and Adjusted Diluted EPS between $4.50 and $4.70 per share.

1 day ago

Press Release

Willdan Selected for $112 Million San Diego Energy Savings Projects

WLDN

New Projects/Investments

Willdan Group, Inc. has been selected by the City of San Diego to implement a $112 million energy savings performance contract.
The contract will support energy and water efficiency across 40 city facilities, decarbonize 23 facilities, and upgrade 39,000 city-owned streetlight fixtures.
Projects will include electrification measures, battery energy storage systems, electrification for HVAC and water heating systems, and solar infrastructure.
These projects are strategically designed to pay for themselves over time using savings in energy and operational costs.

Feb 12, 2026, 2:12 PM

Press Release

Willdan Group Awarded $97 Million Contract by Alameda County

WLDN

New Projects/Investments

Willdan Group, Inc. (NASDAQ: WLDN) has been selected by Alameda County, California, for a $97 million contract.
The contract involves designing and implementing energy and infrastructure upgrades across 24 sites, including electrification of major HVAC systems, solar PV generation, and EV charging stations.
These upgrades are expected to reduce annual carbon emissions by approximately 1.7 metric tons of CO2e.
Willdan will also provide consulting to identify outside funding opportunities for the County.

Nov 12, 2025, 2:15 PM

Press Release

Willdan Group Reports Strong Q3 2025 Results and Raises Full-Year Guidance

WLDN

Earnings

Guidance Update

Revenue Acceleration/Inflection

Willdan Group reported strong Q3 2025 financial results, with net revenue growing 26% to $95 million and adjusted EBITDA increasing 53% to $23.1 million.
The company achieved an organic growth rate of 20% for Q3 2025 and 21% year-to-date, driven by continued strength in utility programs, planning and construction management, and municipal demand.
For the first nine months of 2025, net revenue increased 27% to $275 million, and adjusted earnings per share nearly doubled to $3.34 per share.
Willdan raised its full-year 2025 financial targets, now expecting net revenue between $360 million and $365 million and adjusted diluted earnings per share between $4.10 and $4.20 per share.
The company highlighted a strong pipeline of opportunities, including a $97 million project for Alameda County, California, and noted that its APG acquisition is expected to drive over 50% growth in 2026.

Nov 6, 2025, 10:30 PM

Transcript

Willdan Group Reports Strong Q3 2025 Results and Raises Full-Year Guidance

WLDN

Earnings

Guidance Update

Revenue Acceleration/Inflection

Willdan Group reported strong third quarter 2025 results, with net revenue growing 26% year-over-year to $95 million and adjusted EBITDA increasing 53% to a record $23.1 million.
The company is raising its full-year 2025 financial targets, now expecting net revenue between $360 million and $365 million, adjusted EBITDA between $77 million and $78 million, and adjusted diluted EPS between $4.10 and $4.20 per share.
This performance was driven by 20% organic growth in Q3 2025, stemming from strong demand in utility programs, planning and construction management, and municipal work, notably in data center-related projects and contributions from the APG acquisition.
Willdan maintains a healthy financial position with $16 million in net debt and $183 million in total available liquidity at quarter-end, providing flexibility for strategic growth.