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Dec 27, 2024
Willdan Group Q4 2024 Earnings Report
Willdan Group reported a decline in revenue and net income for Q4 2024, with adjusted EBITDA showing a slight increase.
Key Takeaways
Willdan Group, Inc. reported contract revenue of $144.1 million for Q4 2024, marking a 7.5% decline from the prior year. Net income fell to $7.7 million, down 4.3%, while adjusted EBITDA increased slightly by 1.4% to $17.7 million. Adjusted diluted EPS also declined to $0.75 from $0.80 in Q4 2023. Cash flow from operations saw significant growth, increasing 121.6% to $33.5 million.
Q4 2024 revenue declined by 7.5% to $144.1 million.
Net income fell to $7.7 million, a 4.3% decrease from Q4 2023.
Adjusted EBITDA increased slightly by 1.4% to $17.7 million.
Cash flow from operations surged by 121.6% to $33.5 million.
Revenue by Segment
Forward Guidance
Willdan expects net revenue for FY 2025 to be between $320 million and $330 million, with adjusted EBITDA projected between $63 million and $67 million. Adjusted diluted EPS is expected to range between $2.70 and $2.85 per share, assuming 15.1 million diluted shares and a 16% effective tax rate.
Positive Outlook
- Net revenue for FY 2025 expected to be between $320M and $330M.
- Adjusted EBITDA guidance set between $63M and $67M.
- Adjusted diluted EPS projected between $2.70 and $2.85 per share.
- Company in a strong liquidity position to fund strategic acquisitions.
- New acquisitions expanding electrical engineering and consulting capabilities.
Challenges Ahead
- Revenue declined in Q4 2024 due to lower subcontractor services.
- Net income saw a slight year-over-year decrease.
- Cost pressures in subcontractor expenses continue to impact margins.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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