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ANAHEIM, Calif. - Willdan Group , Inc. (NASDAQ:WLDN) saw its stock jump 8.6% after reporting fourth quarter earnings and revenue that significantly exceeded analyst expectations. The company, which provides professional technical and consulting services, posted strong results despite a slight year-over-year revenue decline.
For the fourth quarter, Willdan reported adjusted earnings per share of $0.75, beating the analyst consensus of $0.52 by $0.23. Revenue came in at $144.1 million, surpassing estimates of $118.5 million, though down 7.5% from the same quarter last year. The company’s net income for the quarter was $7.7 million, a 4.3% decrease YoY.
Despite the quarterly revenue dip, Willdan’s full-year 2024 results showed robust growth. Contract revenue increased 10.9% to $565.8 million, while net income more than doubled to $22.6 million. The company also reported strong cash flow from operations, which grew 83.8% to $72.1 million for the year.
"The fourth quarter capped an outstanding year for Willdan, with double-digit full year organic growth across key metrics and our resumption of strategic acquisitions," said Mike Bieber, Willdan’s President and CEO. "Rising electricity demand and increasing costs continue to help drive growth for Willdan."
Looking ahead, Willdan provided guidance for fiscal year 2025, projecting net revenue between $320 million and $330 million and adjusted earnings per share between $2.70 and $2.85. The company also announced the acquisition of Alternative Power Generation (HM:PGV), Inc., enhancing its capabilities in electrical engineering and management consulting for data centers and renewables.
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