Willdan Group (NASDAQ:WLDN) Announces Earnings Results

Willdan Group (NASDAQ:WLDN) posted its quarterly earnings results on Thursday. The construction company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.77, FiscalAI reports. The firm had revenue of $231.03 million for the quarter, compared to the consensus estimate of $102.27 million. Willdan Group had a net margin of 8.80% and a return on equity of 25.56%. Willdan Group updated its FY 2026 guidance to 5.000-5.150 EPS.

Here are the key takeaways from Willdan Group’s conference call:

• Record second-quarter results: Contract revenue rose 33% to $231 million, net revenue increased 23% to $117 million, and adjusted EBITDA grew 51% to a record $33 million. Adjusted EPS increased 38% to $2.07, while GAAP EPS rose 53% to $1.58.
• Management raised its full-year 2026 outlook to $415 million-$430 million in net revenue, $103 million-$107 million in adjusted EBITDA, and $5.00-$5.15 in adjusted diluted EPS. The company expects approximately 25% adjusted EBITDA margins for the full year, up from 21.8% in 2025.
• Commercial expansion, particularly data-center electricity demand, is becoming a major growth driver and now represents about one-quarter of the business. The Burton acquisition is performing well, with early cross-selling wins and added capabilities in HVAC, energy controls, and commercial energy procurement.
• Willdan reported a broad pipeline of large, complex projects, including a $110 million LADWP solar streetlight expansion, a $53 million City College of New York upgrade, and battery storage, microgrid, biogas, and substation projects. The LADWP work is expected to ramp through late 2026 and into early 2027, although timing remains uncertain.
• Cash generation and liquidity remain strong, with $62 million of trailing-12-month free cash flow, 0.3x net debt-to-adjusted EBITDA, and $165 million of available liquidity. However, the 179D tax benefit expired for new projects at the end of June; management expects a second-half tax rate of roughly 15%-20%, though accumulated deferred tax assets should continue to support cash flow.

Willdan Group Trading Up 17.0%

Shares of Willdan Group stock opened at $86.24 on Friday. The stock has a market capitalization of $1.30 billion, a P/E ratio of 20.24 and a beta of 1.14. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $81.31 and a 200 day simple moving average of $89.85. Willdan Group has a 12-month low of $64.67 and a 12-month high of $137.00.

Insider Buying and Selling

In other Willdan Group news, CEO Michael A. Bieber sold 56,676 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $91.58, for a total value of $5,190,388.08. Following the transaction, the chief executive officer directly owned 249,525 shares in the company, valued at $22,851,499.50. The trade was a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WLDN. Sunbelt Securities Inc. acquired a new stake in shares of Willdan Group in the fourth quarter valued at $83,000. Invesco Ltd. grew its stake in shares of Willdan Group by 93.0% during the fourth quarter. Invesco Ltd. now owns 51,657 shares of the construction company’s stock worth $5,355,000 after purchasing an additional 24,889 shares during the period. Man Group plc increased its holdings in Willdan Group by 108.6% in the fourth quarter. Man Group plc now owns 34,677 shares of the construction company’s stock valued at $3,595,000 after purchasing an additional 18,052 shares during the last quarter. Boothbay Fund Management LLC lifted its stake in Willdan Group by 36.6% in the fourth quarter. Boothbay Fund Management LLC now owns 15,766 shares of the construction company’s stock valued at $1,634,000 after buying an additional 4,223 shares during the period. Finally, PDT Partners LLC bought a new position in Willdan Group during the fourth quarter worth about $368,000. 72.29% of the stock is owned by institutional investors and hedge funds.

More Willdan Group News

Here are the key news stories impacting Willdan Group this week:

• Positive Sentiment: Q2 results substantially beat estimates: Willdan reported $231.0 million in contract revenue, up 33.2% year over year, while net revenue increased 23.5% to $117.2 million. Net income rose 57.7% to $24.3 million. GAAP diluted EPS was $1.58, and adjusted diluted EPS was $2.07, exceeding consensus estimates near $1.30. Willdan Group Reports Second Quarter Results
• Positive Sentiment: Profitability and cash flow strengthened: Adjusted EBITDA increased 50.6% to $33.0 million, and operating cash flow reportedly reached $43.9 million. The company generated this growth with relatively modest capital spending, supporting its financial flexibility. Willdan Group Q2 2026 Earnings
• Positive Sentiment: FY 2026 EPS guidance was raised or reaffirmed above expectations: Management projected adjusted EPS of $5.00-$5.15, compared with an analyst consensus of approximately $4.77. This gives investors a favorable outlook for continued earnings growth. Willdan Group Q2 2026 Earnings Call Transcript
• Neutral Sentiment: Revenue guidance comparisons are unclear: Willdan issued fiscal-year revenue guidance of $415 million-$430 million, but the reported analyst comparison of $715 million appears inconsistent with the company’s use of contract revenue versus net revenue. Investors may need clarification on the applicable revenue measure.
• Negative Sentiment: Insider selling remains a potential overhang: Quiver reported five insider sales and no purchases over the past six months, including CEO Michael A. Bieber’s sale of 66,667 shares. Institutional positioning was mixed, with 125 investors adding shares and 136 reducing positions.

Analyst Ratings Changes

WLDN has been the topic of several recent research reports. Wall Street Zen lowered shares of Willdan Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Willdan Group in a research report on Tuesday, July 21st. Finally, Zacks Research cut shares of Willdan Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Willdan Group presently has an average rating of “Hold” and a consensus price target of $117.50.

About Willdan Group

Willdan Group, Inc provides energy efficiency, infrastructure engineering, and technical consulting services to a diverse range of public and private sector clients. The company works with utilities, municipalities, state and federal agencies, and commercial enterprises to design, implement, and manage programs that promote sustainable energy use, grid modernization, and resilient infrastructure. Willdan’s offerings span program design and implementation, energy audits, measurement and verification, and project management for both new construction and retrofit initiatives.

Core services include energy advisory and engineering solutions, including feasibility studies, facility commissioning and retro-commissioning, $0 down financing for energy projects, and demand response program development.