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…
Earnings analysis · 10-Q
WLDN earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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%.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.91
- Segment
- Energy
- Segment
- Engineering and Consulting
What stood out
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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.
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Net Income Up 82% YoY
Net income rose significantly to $8.5 million from $4.7 million in the same period last year.
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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.
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Operating Income Increased 3.6%
Operating income rose to $7.3 million, reflecting growth even with adjustments for fewer service weeks.
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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.
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Acquisition of Burton Energy Group
The company completed the acquisition of Burton Energy Group, costing $52 million in cash plus earnout clauses.
What to watch
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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.
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Increased General and Administrative Expenses
G&A expenses increased by 10.3% to $55.9 million, driven by higher salaries and benefits.
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Continued Supply Chain Concerns
Management noted ongoing challenges with supply chain disruptions and inflation, impacting project costs.
Management's outlook
Company raised full-year 2026 guidance citing strong performance and acquisitions.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.