Willdan Group, Inc. Q1 2026 Earnings Recap

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.