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Willdan Group Q1 2025 Earnings Report
Willdan Group reported its financial results for the first quarter ended April 4, 2025.
Key Takeaways
Willdan Group exceeded analyst expectations in the first quarter of 2025, delivering double-digit growth across key metrics, driven by new wins, steady funding in core programs, and three strategic acquisitions. The company is raising its fiscal year 2025 financial targets.
Contract revenue increased by 24.4% to $152.4 million.
Net income grew by 59.3% to $4.7 million.
Adjusted Diluted EPS rose by 57.5% to $0.63.
The company is raising its fiscal year 2025 financial targets due to strong first quarter performance.
Willdan Group
Willdan Group
Willdan Group Revenue by Segment
Revenue by Segment
Energy Revenue
CapyFin.comEngineering and Consulting Revenue
CapyFin.com Forward Guidance
Willdan is raising its fiscal year 2025 financial targets, expecting net revenue between $325 million and $335 million, Adjusted EBITDA between $65 million and $68 million, and Adjusted Diluted EPS between $2.75 per share and $2.90 per share, assuming 15.1 million diluted shares and a 16% effective tax rate.
Positive Outlook
- Broad-based growth driven by new wins and steady funding in core programs.
- Strategic acquisitions contributing to growth.
- Increasing demand for electricity from data centers and electrification fueling investment.
- Investment in reliable power and resilient grid infrastructure.
- Record first quarter performance leading to raised financial targets.
Challenges Ahead
- Inability to provide reconciliation for forward-looking non-GAAP measures due to uncertainty.
- Difficulty in predicting subcontractor services and other direct costs.
- Uncertainty and inherent difficulty in predicting interest expense, income tax expense, stock-based compensation, interest accretion, depreciation and amortization, and gain on sale of equipment.
- Assumes no future acquisitions, which could impact actual results.
- Assumes a specific diluted share count and effective tax rate, deviations from which could affect EPS.
Revenue & Expenses
Visualization of income flow from segment revenue to net income