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Jul 03, 2020
Willdan Group Q2 2020 Earnings Report
Willdan Group's financial performance was impacted by the pandemic, but adjusted EBITDA was only marginally down, and cash flow from operations reached a company record.
Key Takeaways
Willdan Group reported a decrease in consolidated contract revenue and a net loss for the second quarter of 2020, primarily due to the impact of the COVID-19 pandemic. However, the company's adjusted EBITDA was down only marginally, and cash flow from operations reached a company record.
Consolidated contract revenue decreased by 20.0% to $83.5 million.
Net revenue decreased by 7.7% to $43.2 million.
Net loss was $5.0 million, or $(0.43) per diluted share.
Adjusted EBITDA was $7.2 million, or 16.7% of net revenue.
Revenue by Segment
Forward Guidance
Willdan estimates that pandemic related slowdowns and work suspensions are reducing revenue by approximately 20% from pre-pandemic levels.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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