WLDN earnings analysis
What we found in WLDN's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Willdan Group reported Q1 2026 results featuring contract revenue of $155.1 million, a slight increase from the previous year, driven by notable growth in net income of 82% to $8.5 million. Despite an EPS of $0.91 that surpassed expectations, revenue was lower than anticipated by approximately 43%.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Contract Revenue Slightly Grows 1.8% YoY
- Revenue increased to $155.1 million from $152.4 million in Q1 2025, despite the impact of one fewer week this quarter.
- Net Income Up 82% YoY
- Net income rose significantly to $8.5 million from $4.7 million in the same period last year.
- Improved Gross Margin
- Gross margin increased to 40.7%, up from 37.8% in the prior year, due to enhanced productivity in energy efficiency programs.
- Operating Income Increased 3.6%
- Operating income rose to $7.3 million, reflecting growth even with adjustments for fewer service weeks.
- Significant Reduction in Interest Expense
- Interest expense decreased 53.7% to $835,000 compared to $1.8 million in Q1 2025, attributed to lower debt levels.
- Acquisition of Burton Energy Group
- The company completed the acquisition of Burton Energy Group, costing $52 million in cash plus earnout clauses.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Cash Flow From Operations Deteriorates
- Net cash used in operating activities was $(24.4) million, contrasting with positive cash flow of $3.3 million in Q1 2025.
- Increased General and Administrative Expenses
- G&A expenses increased by 10.3% to $55.9 million, driven by higher salaries and benefits.
- Continued Supply Chain Concerns
- Management noted ongoing challenges with supply chain disruptions and inflation, impacting project costs.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.91
- Gross margin
- 40.7%
- Operating margin
- 4.7%
- Segment
- Energy
- Segment
- Engineering and Consulting
What they said about what is next.
Company raised full-year 2026 guidance citing strong performance and acquisitions.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 27, 2026
- Willdan positions itself as a national energy and infrastructure professional services firm pursuing growth through a mix of organic expansion and strategic acquisitions, with the Energy segment comprising the bulk of…
- 10-Q · November 7, 2025
- Willdan reported a strong quarter: contract revenue rose to $182,006,000 (Q3 2025) with gross profit of $67,089,000 and operating income of $14,862,000, driving diluted EPS of $0.90. Results were supported by…
- 10-Q · May 9, 2025
- Willdan reported strong top-line and earnings growth for the quarter: contract revenue rose to $152,386,000 (up $29,897,000 or +24.4% vs. $122,489,000 a year earlier) and diluted EPS increased to $0.32 from $0.21.…
- 10-Q · November 1, 2024
- Willdan reported strong Q3 results with revenue of $158,252,000 (up $25,514,000 or ~19.2% vs. Q3 2023) and diluted EPS of $0.51 (vs. $0.11 in Q3 2023). Operating income rose to $8,674,000 and operating margin expanded…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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