Willdan Group Q3 2023 Earnings Report
Key Takeaways
Willdan Group reported a strong third quarter in 2023, with consolidated contract revenue up 9.3% and net revenue up 10.8%. Net income increased to $1.6 million, and Adjusted EBITDA rose by 27.0%. The company is raising its full-year guidance for all financial targets.
Consolidated contract revenue increased by 9.3% to $132.7 million.
Net revenue grew by 10.8% to $65.3 million.
Net income rose to $1.6 million, up from $0.1 million.
Adjusted EBITDA increased by 27.0% to $10.1 million.
Willdan Group
Willdan Group
Willdan Group Revenue by Segment
Forward Guidance
Willdan is increasing all of its financial targets for 2023 and now expects: Net revenue growth between 10% and 12%. Adjusted Diluted EPS between $1.33 per share and $1.38 per share. Adjusted EBITDA between $40 million and $42 million.
Positive Outlook
- Net revenue growth between 10% and 12%
- Adjusted Diluted EPS between $1.33 per share and $1.38 per share
- Adjusted EBITDA between $40 million and $42 million
- Strong results in revenue
- Strong results in profit
Revenue & Expenses
Visualization of income flow from segment revenue to net income