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Oct 01, 2021
Willdan Group Q3 2021 Earnings Report
Willdan Group's third quarter performance exceeded expectations with significant improvement from the second quarter, driven by the restart of the LADWP program and new contract wins.
Key Takeaways
Willdan Group reported third quarter results with a consolidated contract revenue of $98.3 million and net revenue of $54.5 million. Net income was $0.8 million, or $0.06 per diluted share, and adjusted EBITDA was $10.1 million. The company saw a significant improvement from its second quarter results, driven by the restart of the LADWP program and new contract wins, including a three-year, $90 million contract with a large New York agency.
Consolidated contract revenue decreased 5.9% year-over-year to $98.3 million.
Net revenue increased 6.8% year-over-year to $54.5 million.
Net income was $0.8 million, or $0.06 per diluted share.
Adjusted EBITDA was $10.1 million.
Forward Guidance
Willdan expects to achieve double-digit organic growth in each of the next three years.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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