Willdan ( (WLDN) ) has released its Q4 earnings. Here is a breakdown of the information Willdan presented to its investors.
Willdan Group, Inc. is a nationwide provider of professional, technical, and consulting services, primarily serving utilities, government agencies, and private industries with a focus on electric grid solutions, energy efficiency, sustainability, engineering, and municipal financial consulting.
In its latest earnings report, Willdan Group announced a significant increase in its financial performance for the fiscal year 2024, with notable growth in net income and adjusted EBITDA. The company also shared its strategic outlook for 2025, highlighting its strong liquidity position and recent acquisition to enhance its capabilities in the energy sector.
For the fiscal year 2024, Willdan reported a contract revenue of $565.8 million, marking a 10.9% increase from the previous year. Net income nearly doubled to $22.6 million, while adjusted EBITDA rose by 24.2% to $56.8 million. The company also saw a substantial increase in cash flow from operations, up 83.8% to $72.1 million. However, the fourth quarter showed a slight decline in contract revenue and net income compared to the same period last year.
Looking ahead, Willdan has set ambitious financial targets for 2025, with net revenue projected between $320 million and $330 million, and adjusted EBITDA expected to range from $63 million to $67 million. The company remains optimistic about its growth prospects, driven by rising electricity demand and strategic expansions.
Overall, Willdan Group appears well-positioned to continue its growth trajectory into 2025, leveraging its enhanced capabilities and strategic acquisitions to capitalize on increasing opportunities in the energy sector.