Willdan secures $30 million contract for Fairfield upgrades

ANAHEIM, Calif. - Willdan Group, Inc. (NASDAQ: WLDN), which has delivered a strong 41.5% return over the past year, has secured a $30 million energy savings performance contract to improve energy efficiency and infrastructure in the City of Fairfield. The company, currently generating annual revenues of $565.8 million, will focus on enhancing the operational performance of the city’s critical facilities, including City Hall and the police department.

The upgrades, which are part of Fairfield’s broader initiative to increase efficiency and resiliency, will feature on-site solar photovoltaic energy generation and electric vehicle charging infrastructure. Central plant renovations are also on the agenda, aiming to reduce climate impacts and promote long-term cost savings. According to InvestingPro analysis, Willdan maintains a healthy financial position with a current ratio of 1.71, suggesting strong capability to execute such projects.

Marisa Cumpian, the City of Fairfield’s Sr. Management Analyst, emphasized the project’s benefits, stating that it will improve the quality of life for residents as the city continues to grow. Willdan has a longstanding relationship with Fairfield, providing various services for over 25 years.

Willdan, a provider of professional and consulting services across the United States, offers a range of services from energy efficiency and sustainability to engineering and financial consulting for municipal entities. InvestingPro analysis indicates the company is currently trading slightly below its Fair Value, with analysts maintaining positive forecasts for the company’s growth potential. For detailed insights and additional ProTips about Willdan’s investment potential, investors can access the comprehensive Pro Research Report available on InvestingPro.

The information is based on a press release statement from Willdan Group, Inc.

In other recent news, Willdan Group Inc. reported impressive financial results for the fourth quarter of 2024, surpassing both earnings and revenue expectations. The company achieved an earnings per share of $0.75, exceeding the forecasted $0.52, and generated revenue of $144.1 million, which was significantly higher than the anticipated $118.5 million. Additionally, Willdan’s full-year contract revenue rose by 11% to $566 million, with adjusted earnings per share increasing by 39% from the previous year. These results were driven by strong demand for energy efficiency and infrastructure solutions.

In another development, Willdan secured a $17.7 million contract to implement solar power and electric vehicle charging infrastructure for the Paramount Unified School District in California. This project includes the installation of 2.2 megawatts of solar arrays and 44 electric vehicle charging stations, aiming to reduce the district’s carbon footprint. Furthermore, Willdan announced the acquisition of Alternative Power Generation (APG), expanding its expertise in utility-scale electrical engineering.

Analyst feedback on Willdan has been positive, with firms noting the company’s strong financial performance and strategic initiatives. Willdan’s CEO, Mike Bieber, highlighted the company’s robust cash flow generation and the growing demand for energy solutions. Despite potential risks such as supply chain disruptions and increased competition, Willdan remains focused on expanding its capabilities and pursuing further acquisitions.

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