Loading...
•
Jun 28, 2024
Willdan Group Q2 2024 Earnings Report
Willdan Group's second quarter results were released, demonstrating significant growth in revenue and profitability.
Key Takeaways
Willdan Group reported a strong second quarter with contract revenue up 18.4% and net revenue up 17.0%. Net income increased significantly, and adjusted EBITDA rose by 56.2%. The company is raising its full year targets for fiscal year 2024.
Contract revenue increased by 18.4% to $141.0 million.
Net revenue grew by 17.0% to $72.5 million.
Net income rose to $4.6 million, a significant increase from $0.4 million.
Adjusted EBITDA increased by 56.2% to $12.8 million.
Revenue by Segment
Forward Guidance
Willdan is increasing its financial targets for fiscal year 2024, now expecting net revenue between $280 million and $290 million, adjusted EBITDA between $50 million and $52 million, and adjusted diluted EPS between $2.00 and $2.10 per share.
Positive Outlook
- Net revenue is projected to be between $280 million and $290 million.
- Adjusted EBITDA is expected to be between $50 million and $52 million.
- Adjusted Diluted EPS is anticipated to be between $2.00 and $2.10 per share.
- Guidance assumes 14.2 million diluted shares.
- Guidance assumes a 14% effective tax rate.
Challenges Ahead
- Guidance does not include any uncompleted or future acquisitions.
- Inability to reconcile targeted contract revenue to targeted Net Revenues without unreasonable effort.
- Uncertainty in predicting subcontractor services and other director costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...