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ANAHEIM, Calif. - Willdan Group, Inc. (NASDAQ:WLDN) has been awarded a $9.8 million contract to provide technical services for the California Public Utilities Commission’s (CPUC) Integrated Resource Plan, according to a company press release. The company, currently trading near its 52-week high of $63.24, has demonstrated remarkable performance with a 115% return over the past year.
The four-year agreement includes an option for a two-year extension and covers energy modeling, technical analysis, and strategic advisory services to support California’s electricity resource planning aligned with the state’s climate and clean energy goals.
Energy + Environmental Economics (E3), Willdan’s wholly-owned subsidiary, will lead the project. E3 has been providing technical support for CPUC’s Integrated Resource Plan since 2016.
"We’re proud to continue assisting one of the nation’s most ambitious clean energy planning initiatives," said Mike Bieber, Willdan’s CEO.
The CPUC is a state regulatory agency that oversees privately owned public utilities in California, including electric power, telecommunications, natural gas, and water companies.
Willdan Group describes itself as a nationwide provider of professional, technical, and consulting services to utilities, government agencies, and private industry. The company offers services across disciplines including electric grid solutions, energy efficiency, sustainability, energy policy planning, engineering, and municipal financial consulting.
The contract represents a continuation of the company’s ongoing work with California’s utility planning initiatives.
In other recent news, Willdan Group Inc. reported impressive first-quarter 2025 earnings, significantly exceeding analyst expectations. The company achieved an adjusted earnings per share (EPS) of $0.63, outperforming the projected $0.44, and generated revenue of $152.39 million, more than double the anticipated $73.1 million. This strong performance was attributed to strategic acquisitions and expanded services, which drove a 24% year-over-year increase in contract revenue. Additionally, Willdan has raised its financial targets for 2025, projecting net revenue between $325 million and $335 million and adjusted EBITDA of $65 million to $68 million.
In other developments, Willdan Group expanded its 2008 Performance Incentive Plan, increasing the share limit for award grants by 150,000 shares, following stockholder approval. The company also held its Annual Meeting of Stockholders, where seven director nominees were elected, and Crowe LLP was ratified as the independent public accounting firm for fiscal year 2025. The amendments to the incentive plan and the term extension until April 13, 2035, received strong support from stockholders.
Furthermore, Willdan’s strategic acquisitions, including Amica, Alpha Inspections, and APG, have bolstered its market position, particularly in electrical engineering and data center solutions. Analysts from firms such as ROTH Capital Partners and Clear Street have shown interest in the company’s strategies to mitigate potential tariff impacts and its ability to navigate the evolving energy landscape. The company continues to focus on organic growth and expanding its capabilities to meet the rising demand for electricity and infrastructure optimization.
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