Record First Quarter Results
Willdan Group delivered record first quarter results for revenue, adjusted EBITDA, and EPS, surpassing both analyst expectations and internal forecasts. Contract and net revenue each grew 24% year-over-year, adjusted EBITDA rose 31%, GAAP diluted EPS increased 52%, and adjusted diluted EPS was up 58%.
Strategic Acquisitions and Credit Facility Expansion
Completed two acquisitions expanding geography and capabilities, and expanded the credit facility from $152 million to $200 million, extending maturity by five years.
Strong Sector Performance and Contract Wins
Performance was strong across all business lines, with significant contract wins including a $330 million five-year contract with the Los Angeles Department of Water and Power, and other notable contracts with California Public Utility Commission and National Grid in Massachusetts.
Sustainability Report and GHG Emission Reduction
Released a 2024 sustainability report highlighting progress, including helping clients avoid about 100 times the GHG emissions the company emits.
Increased Financial Targets for 2025
Based on strong performance, Willdan raised 2025 financial targets: net revenue of $325 million to $335 million, adjusted EBITDA of $65 million to $68 million, and adjusted diluted EPS of $2.75 to $2.90.