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Dec 27, 2019
Willdan Group Q4 2019 Earnings Report
Reported financial results for the fourth quarter and fiscal year ended December 27, 2019 and provided its financial targets for fiscal 2020.
Key Takeaways
Willdan Group reported a strong Q4 2019, with a 49.7% increase in consolidated contract revenue and a 51.8% increase in net revenue. Diluted earnings per share increased by 145.5%, and adjusted diluted earnings per share increased by 59.8%. Adjusted EBITDA also saw a significant increase of 110.4%.
Consolidated contract revenue increased by 49.7% to $129.4 million.
Net revenue increased by 51.8% to $61.0 million.
Diluted earnings per share increased by 145.5% to $0.27.
Adjusted EBITDA increased by 110.4% to $13.8 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 provided the following financial targets for fiscal 2020:
Positive Outlook
- Net Revenue of $215 million to $230 million
- Adjusted Diluted EPS of $2.47 to $2.60
- Effective tax rate of approximately 17%
- Diluted share count of 12.0 million shares
- Depreciation of approximately $4.1 million
Challenges Ahead
- Amortization of approximately $13.0 million
- Stock-based compensation of approximately $19.8 million
- Interest expense of approximately $4.5 million
- The financial targets above do not include the effects of any transaction(s) that have not been completed as of the date of this press release.
- Over the long-term, Willdan continues to target both organic and acquisitive Net Revenue growth of greater than 10%, resulting in total Net Revenue growth of greater than 20% per year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income