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Willdan Group (WLDN) investor relations material
Willdan Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record-setting Q3 2025 results with net revenue up 26% year-over-year and organic growth at 20%, driven by strong demand across utilities, commercial, and government segments, and supported by recent acquisitions.
Net income for Q3 2025 was $13.7 million, up 86.8% year-over-year; gross margin improved to 36.9% from 32.6% in Q3 2024.
Margins expanded alongside significant investments for future growth, with reduced net debt to $16.0 million and robust liquidity.
Raised full-year 2025 financial targets for net revenue, adjusted EBITDA, and adjusted EPS due to continued strong performance and robust contract pipeline.
Completed acquisitions of APG, Alpha Inspections, and Enica Engineering, contributing to revenue and operational synergies.
Financial highlights
Q3 2025 contract revenue was $182 million, up 15% year-over-year; net revenue reached $95 million, up 26%; gross profit grew 30% to $67.1 million.
Adjusted EBITDA for Q3 2025 was $23.1 million (24% margin), up 53% year-over-year; adjusted EPS was $1.21, up 66%.
Nine-month contract revenue was $508 million (+20%), net revenue $275 million (+27%), adjusted EBITDA $59.5 million (+52%), and adjusted diluted EPS $3.34 (+97%).
Net income for nine months was $33.8 million, up 127.4% year-over-year.
Cash and cash equivalents at period end were $33.1 million; total available liquidity at quarter end was $183 million.
Outlook and guidance
Full-year 2025 net revenue expected between $360–$365 million; adjusted EBITDA $77–$78 million; adjusted diluted EPS $4.10–$4.20, based on a 10% tax benefit and 15.2 million shares outstanding.
Guidance excludes impact of future acquisitions.
Sufficient liquidity and available credit facilities to support operations and growth initiatives for at least the next 12 months.
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