Willdan Group reports strong Q2 results, raises full-year targets; market outlook positive.

From Investing.com: 2024-08-04 21:24:15

In the second quarter of fiscal year 2024, Willdan Group, Inc. reported strong financial performance with an 18% organic increase in contract revenue and a 56% growth in adjusted EBITDA year-over-year. The company’s GAAP and adjusted EPS more than doubled, leading to raised full-year financial projections highlighting confidence in its growth prospects.

Key takeaways from Willdan Group’s earnings call include the company’s plan to aggressively invest, with notable wins in the data center market and contracts with clients like Meta and the state of Virginia. The company expects full-year net revenue between $280 million and $290 million, adjusted EBITDA between $50 million and $52 million, and adjusted diluted EPS between $2 and $2.10.

InvestingPro Insights reveal Willdan Group’s remarkable financial growth in Q2 2024, with a market capitalization of $517.79 million and a P/E ratio of 30.01. The company’s revenue growth of 20.94% over the last twelve months reflects investor confidence. Strong stock performance and raised financial targets underscore Willdan’s optimistic outlook and strategic initiatives for future growth.

Willdan Group’s positive performance in the first half of 2024 led to raised financial projections and expansion plans in response to growing demand for clean energy solutions. The company’s strategic partnerships and acquisitions reflect its commitment to sustainability and position in the market. Shareholders and investors alike can find valuable insights and tips on Willdan Group through InvestingPro for in-depth analysis and evaluation.



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