Willdan Group (WLDN) Investor presentation summary

Growth and financial performance

• Achieved strong revenue and EBITDA growth, with contract revenue rising from $354M in 2021 to an estimated $803M in 2026, representing an 18% CAGR.

• Adjusted EBITDA is projected to reach $102.5M in 2026, a 30% CAGR since 2021.

• Q1'26 saw contract revenue of $155M (+2% YoY), net revenue of $92.4M (+8% YoY), and adjusted EBITDA of $18.1M (+25% YoY).

• Trailing twelve months (TTM) Q1'26 contract revenue was $684M (+15% YoY), with adjusted EBITDA of $83.2M (+38% YoY) and adjusted EPS of $5.19 (+95% YoY).

• FY'26 financial targets include net revenue of $410–425M, adjusted EBITDA of $100–105M, and adjusted diluted EPS of $4.90–5.05.

Market drivers and industry trends

• Accelerated electricity demand and infrastructure investment are driving growth in grid modernization and resource planning.

• Electrification and energy transition are increasing demand for engineering, planning, and distributed energy solutions.

• Utilities and public agencies are investing in reliability, resiliency, and modernization.

• Meeting utility resource plan growth requires annual resource additions 4–5x historical levels, with a focus on battery storage, solar, and wind.

Service offerings and client mix

• Provides integrated advisory, engineering, and implementation services for utilities, municipalities, and commercial clients.

• FY'26E contract revenue mix: 41% utilities, 34% state & local government, 25% commercial; service mix: 44% facility & infrastructure, 33% utility programs.

• Notable projects include data center substation engineering, municipal energy efficiency, and electrification initiatives.