Willdan Group, Inc. reported a significant increase in financial performance for the fiscal year ending January 2, 2026, with total contract revenue reaching $681.6 million, a 20.5% increase from $565.8 million in the previous fiscal year. The company's net income also saw a substantial rise, climbing to $52.6 million compared to $22.6 million in fiscal year 2024. This growth was primarily driven by increased demand for services in both the Energy and Engineering and Consulting segments, with the Energy segment alone contributing $576.1 million in revenue, up 21.7% from the prior year.
The company experienced notable changes in its operational metrics, including a decrease in direct costs as a percentage of contract revenue, which fell to 62.5% from 64.2% in the previous year. This improvement in gross profit margin, which increased to 37.5% from 35.8%, reflects a favorable shift in the mix of revenues and effective cost management strategies. General and administrative expenses also rose, totaling $211.5 million, but this was offset by the higher revenue growth, resulting in a 40.8% increase in operating income.
Strategically, Willdan expanded its footprint through several acquisitions, including Alternative Power Generation, Inc. and Compass Municipal Advisors, which contributed to the overall revenue growth. The company is focused on integrating these new entities into its operations, which is expected to enhance its service offerings and market reach. As of January 2, 2026, Willdan employed approximately 1,814 individuals, reflecting a continued investment in human capital to support its growth initiatives.
In terms of geographic expansion, Willdan operates across 22 states, the District of Columbia, and has a presence in Canada and Puerto Rico. The company’s largest clients are concentrated in California, New York, and Nevada, with these states accounting for 43.5%, 19.0%, and 11.8% of consolidated contract revenue, respectively. The company’s top ten customers represented 50.7% of total revenues, indicating a reliance on key clients for its business.
Looking ahead, Willdan remains optimistic about its growth trajectory, driven by ongoing demand for energy efficiency and infrastructure services amid evolving market conditions. The company anticipates that its strategic acquisitions and enhanced service capabilities will position it well to capitalize on future opportunities in the energy services market. However, management acknowledges potential risks, including economic fluctuations and regulatory changes, which could impact operational performance.
About Willdan Group, Inc.
Willdan Group, Inc. provides professional, technical, and consulting services focused on energy solutions, infrastructure, and sustainability for utilities, public agencies, and private industry. Its offerings include energy efficiency, program design, engineering, construction management, and financial consulting. Serving government, utilities, and commercial clients nationwide, the company leverages expertise, innovative solutions, and long-term relationships to support environmental goals, infrastructure upgrades, and energy transition initiatives.
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