Willdan Group (NASDAQ:WLDN) Releases Quarterly Earnings Results, Beats Estimates By $0.53 EPS

Willdan Group (NASDAQ:WLDN) released its quarterly earnings results on Thursday. The construction company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.53, Zacks reports. Willdan Group had a return on equity of 23.36% and a net margin of 8.24%. 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 Price Performance

NASDAQ WLDN traded down $0.44 on Thursday, reaching $73.69. 337,585 shares of the stock traded hands, compared to its average volume of 263,260. Willdan Group has a 12 month low of $64.67 and a 12 month high of $137.00. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 19.86 and a beta of 1.14. The firm’s fifty day simple moving average is $81.40 and its 200 day simple moving average is $89.87. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.15.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WLDN shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Willdan Group in a report on Tuesday, July 21st. Wall Street Zen cut shares of Willdan Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Wedbush began coverage on shares of Willdan Group in a research report on Thursday, April 9th. They set an “outperform” rating and a $110.00 price target on the stock. Finally, Zacks Research lowered shares of Willdan Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $117.50.

Insider Activity at Willdan Group

In other news, CEO Michael A. Bieber sold 56,676 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $91.58, for a total value of $5,190,388.08. Following the completion of the sale, the chief executive officer owned 249,525 shares in the company, valued at $22,851,499.50. This represents a 18.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WLDN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Willdan Group by 1.1% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,615 shares of the construction company’s stock valued at $476,000 after acquiring an additional 85 shares during the period. Mariner LLC boosted its stake in Willdan Group by 2.0% in the 4th quarter. Mariner LLC now owns 6,062 shares of the construction company’s stock worth $629,000 after purchasing an additional 118 shares during the period. Engineers Gate Manager LP boosted its stake in Willdan Group by 3.3% in the 2nd quarter. Engineers Gate Manager LP now owns 6,925 shares of the construction company’s stock worth $433,000 after purchasing an additional 222 shares during the period. Transamerica Financial Advisors LLC grew its position in Willdan Group by 203.3% during the 4th quarter. Transamerica Financial Advisors LLC now owns 364 shares of the construction company’s stock worth $38,000 after purchasing an additional 244 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in Willdan Group by 2.2% during the 4th quarter. Osaic Holdings Inc. now owns 15,761 shares of the construction company’s stock worth $1,634,000 after purchasing an additional 346 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

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.