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Get filing alertsWilldan raises 2026 guidance on 82% Q1 net income jump, completes Burton Energy acquisition
Filed May 7, 2026 · Period ending May 7, 2026 · ~1 min read
Key Changes
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high
Q1 net income surged 82% to $8.5M (96% normalized for calendar); adjusted EBITDA up 25% to $18.1M on improved productivity and commercial customer mix shift.
Exhibit 99.1 view on EDGAR → -
high
Raised full-year 2026 adjusted EBITDA guidance to $100M–up to $105M (26%–32% growth) and EPS to $4.90–$5.05; net revenue target $410M–up to $425M.
Exhibit 99.1 view on EDGAR → -
high
Completed Burton Energy Group acquisition post-quarter, more than doubling commercial market services and adding energy procurement to Fortune 500 client base.
Exhibit 99.1 view on EDGAR → -
medium
Set long-term targets of 15%–20% annual revenue growth (including M&A) and adjusted EBITDA margin in the high 20s%, up from prior goals.
Exhibit 99.1 view on EDGAR →
Summary
Willdan reported a strong first quarter with net income nearly doubling year-over-year, driven by margin expansion from improved productivity and a favorable shift toward commercial customers in its energy solutions business. The 8.3% net revenue growth (16.6% normalized for one fewer week in the quarter) and 25% adjusted EBITDA increase prompted management to raise full-year guidance across all metrics, now expecting adjusted EBITDA growth of 26%–32%. The Burton Energy Group acquisition, completed after quarter-end, significantly expands Willdan's commercial market footprint and adds energy procurement capabilities to its service mix.
Management's decision to raise long-term margin targets to the high 20s% (adjusted EBITDA to net revenue) reflects confidence in the combined entity's profitability trajectory. For retail holders, the guidance raise and margin expansion signal operational momentum, while the Burton deal positions the company for accelerated growth in the higher-margin commercial segment. Watch for integration execution and whether the commercial customer mix shift sustains through subsequent quarters.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Contract revenue of $155.1 million, up 1.8% (up 9.6% normalized). ●Net revenueb of $92.4 million, up 8.3% (up 16.6% normalized). ●Net income of $8.5 million, up 82.0% (up 96.0% normalized). ●Adjusted EBITDAb of $18.1 million, up 25.4% (up 35.0% normalized). ●GAAP Diluted EPS of $0.55, up 71.9%. ●Adjusted Diluted EPSb of $0.91, up 44.4%.
Willdan reported first quarter 2026 results showing contract revenue of $155.1 million (up 1.8%, or 9.6% normalized for one fewer week), net revenue of $92.4 million (up 8.3%, or 16.6% normalized), and net income of $8.5 million (up 82.0%, or 96.0% normalized). GAAP diluted EPS was $0.55, up 71.9%, while adjusted diluted EPS was $0.91, up 44.4%. The company noted that Q1 2026 had one fewer week than Q1 2025, so normalized comparisons adjust for this calendar difference.
Added in current filing · view on EDGAR →
Subsequent to quarter end, and announced earlier this week, we completed the acquisition of Burton Energy Group, which serves the Fortune 500 and more than doubles our services to the commercial market. Burton is a management consultant and solutions provider that strengthens our national presence, deepens our energy efficiency capabilities and adds energy procurement.
Willdan completed the acquisition of Burton Energy Group after the quarter ended. Burton serves Fortune 500 clients and more than doubles Willdan's commercial market services. The acquisition adds energy procurement capabilities and strengthens Willdan's national presence and energy efficiency offerings.
Added in current filing · view on EDGAR →
The results reflect strong demand for our energy solutions, with margin expansion driven by improved productivity and increased commercial customer mix.
Management attributed the quarter's margin expansion to improved productivity and an increased mix of commercial customers in the energy solutions business. This shift toward commercial clients appears to be a key driver of profitability improvement.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 19, 2026 · How we verify