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Jun 30, 2023
Willdan Group Q2 2023 Earnings Report
Willdan Group's second-quarter performance was strong, with improved profitability and raised full-year guidance.
Key Takeaways
Willdan Group reported strong second-quarter results, with consolidated contract revenue up 16% and net revenue up 17%. The company's improved profitability was driven by strength in all areas of its business. Willdan raised its full-year guidance for all financial targets and plans to restart its acquisition program.
Consolidated contract revenue increased by 16.0% to $119.1 million.
Net revenue grew by 17.1% to $61.9 million.
Net income improved by 109.2% to $0.4 million.
Adjusted EBITDA increased by 603.3% to $8.2 million.
Willdan Group
Willdan Group
Willdan Group Revenue by Segment
Revenue by Segment
Energy Revenue
CapyFin.comEngineering and Consulting Revenue
CapyFin.com Forward Guidance
Willdan Group raised its full-year guidance for fiscal year 2023.
Positive Outlook
- Net revenue growth between 9% and 10%.
- Adjusted Diluted EPS between $1.30 per share and $1.35 per share.
- Adjusted EBITDA between $38 million and $40 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income