Willdan Group, Inc. Earnings Recaps
Q2 2026
Aug 9, 2026
Shares surged 16.3% following Willdan’s Q2 2026 report, driven by significant beats in revenue, profitability, and accelerated commercial demand that underpin raised full-year targets.
Key takeaways
- Contract revenue rose 33% year-over-year to $231 million; net revenue grew 23% to $117 million.
- Adjusted EBITDA climbed 51% to a record $33 million; adjusted EPS increased 38% to $2.07.
- Commercial segment growth, particularly from data center electricity projects and the APG acquisition, is rapidly expanding, now representing about 25% of total business.
- Strategic acquisitions like Burton Energy are already contributing new customers and commercial energy procurement capabilities, with early integration progress.
- Recent contract wins totaling over $260 million span solar streetlighting, municipal upgrades, energy efficiency, renewable biogas, battery storage, and substations, illustrating broader customer base and project complexity.
Q1 2026
May 9, 2026
Willdan’s shares rallied 18.7% following a quarter that demonstrated notably stronger-than-expected contract revenue growth, margin expansion, and strategic acquisition synergy, which collectively boosted investor confidence.
Key takeaways
- Q1 contract revenue grew 10% year-over-year (normalized for last year’s extra week), with net revenue up 17% and adjusted EBITDA increasing 35%.
- Recently closed acquisition of Burton Energy Group added $103 million in contract revenue and $7 million in EBITDA on a 2025 basis, expanding Willdan’s footprint and recurring revenue profile.
- Commercial revenue now represents approximately 25% of total revenue pro forma after Burton acquisition, up from 7% in 2024, supporting higher-margin diversification.
- Significant new contract wins included a $100 million extension with Southern California Edison, a $54 million project with New York’s Dormitory Authority, a $27 million New York Accelerator program award, and a $24 million battery storage system in Puerto Rico.
- Willdan’s broad national presence now covers all 50 states plus Puerto Rico and Canada, bolstered by strategic geographic expansion through acquisitions.
Q3 2025
Nov 8, 2025
Willdan Group's Q3 2025 results demonstrate robust growth with net revenues rising 26% year-over-year, driven by a strong organic growth rate and continued margin expansion.
Key takeaways
- Achieved 20% organic growth, marking the fourth consecutive year of double-digit increases.
- Utility business growth remains strong, constituting 41% of revenue, supported by long-term contracts and a healthy funding landscape.
- Significant demand in engineering and consulting, particularly driven by data center projects; recent APG acquisition is performing well with expected 50% growth in 2026.
- Total backlog of projects continues to strengthen, with notable contracts including a $97 million project for Alameda County.
- Company raised full-year financial targets based on positive performance outlook and sustained demand across segments.