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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.
Willdan Group
Willdan Group
Willdan Group Revenue by Segment
Revenue by Segment
Energy Revenue
CapyFin.comEngineering and Consulting Revenue
CapyFin.com 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.
- Competitive pressures in the industry remain a challenge.
- Market uncertainties may affect future contract awards.
Revenue & Expenses
Visualization of income flow from segment revenue to net income