Willdan Group, Inc.
Willdan Group, Inc. provides professional, technical, and consulting services to utilities, private industry, and public agencies in the United States. Its work spans energy solutions, greenhouse gas reduction, infrastructure planning and design, program management, policy advisory, and software and data management through two operating segments: Energy and Engineering and Consulting.
Tilikausi 2026 · muutos edellisvuodesta
Kehitys 2021–2026
Liiketoiminta
Osuus liikevaihdostaUtility and customer programs for efficiency, electrification, grid optimization, and M&V.
Civil engineering, construction management, planning, and technical consulting services.
Policy, financial, and administrative support for public-sector infrastructure and utility programs.
Planning, benchmarking, and analytics tools used to support energy and infrastructure decisions.
Asiakkaat
Willdan sells primarily to utilities, government agencies, municipalities, and other public-sector organizations, with additional work for commercial and non-profit clients. Customers buy its services to improve energy efficiency, manage infrastructure projects, meet sustainability goals, and support technical or regulatory requirements.
Buy energy-efficiency, electrification, grid optimization, and program administration services.
Buy engineering, planning, building/safety, and infrastructure consulting services.
Buy energy and consulting services to reduce operating costs and improve facilities.
Buy tailored energy solutions and technical services for facilities and programs.
Strategia
Willdan’s strategy is built around combining energy services with engineering and consulting so it can deliver broader solutions to the same public- and utility-sector customers. The company also emphasizes software, data, and technical capabilities that support long-duration programs, recurring client relationships, and cross-selling between segments.
The two segments share many of the same public and utility customers, creating opportunities for broader engagements.
Utility programs can create repeat work in efficiency, electrification, and grid optimization.
Acquired capabilities can deepen service offerings and expand customer coverage.
Maantiede
Q2/2026The company’s revenue is overwhelmingly domestic, with foreign operations described as not material in recent reporting. Its business is centered in the United States, where it serves utilities and public agencies across multiple states and local jurisdictions.
Riskit
Willdan depends on public-sector and utility spending, so project timing, procurement cycles, and budget decisions can affect demand and revenue recognition. The business also faces execution risk on fixed-price and multi-service contracts, integration risk from acquisitions, and exposure to labor costs, interest rates, and contract claims common in engineering and consulting services.
- Customer concentration in utilities and public agenciesVaikutus: KorkeaTodennäköisyys: Kohtalainen
A large share of work comes from regulated utilities and government entities, making demand sensitive to budget and program approvals.
Kohdistuu: Energy and Engineering and Consulting segments
- Contract execution and scope riskVaikutus: KorkeaTodennäköisyys: Kohtalainen
Engineering and program-management work can involve fixed-price, unit-based, and time-and-materials contracts with varying margin and delivery risk.
Kohdistuu: Project delivery and contract accounting
- Labor availability and wage inflationVaikutus: KeskitasoTodennäköisyys: Kohtalainen
The company’s services are labor-intensive, so staffing shortages or wage inflation can affect delivery capacity and costs.
Kohdistuu - Acquisition integration and earnout obligationsVaikutus: KeskitasoTodennäköisyys: Matala
Recent acquisitions create integration complexity and contingent payments tied to performance targets.
Kohdistuu
Kirjanpito
Harkinnanvaraiset erätTime-and-materials, unit-based, and fixed-price contracts require judgment on timing and amount of revenue recognized.
Vaikutus: Can shift quarterly revenue and margin recognition
Acquisition-related earnouts are recorded at fair value and remeasured as estimates change.
Vaikutus: Can create non-cash gains or losses in earnings
The company uses swaps to manage variable-rate debt exposure, creating derivative valuation effects.
Vaikutus: Can affect other income/expense and cash flow risk
Labor, subcontractor, and project-related expenses are allocated between direct costs and G&A.
Vaikutus: Affects gross margin and operating expense presentation
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Päivitetty: 24.9.2026