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Sep 29, 2023
Willdan Group Q3 2023 Earnings Report
Willdan Group reported strong results in the third quarter of 2023, with revenue, profit, and cash all showing positive growth.
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.
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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