Core Insights - Willdan Group, Inc. operates at the intersection of energy, infrastructure, and public-sector services, focusing on helping utilities, governments, and commercial clients manage rising power needs and complex infrastructure requirements [2] Business Performance - The company has shown broad-based progress across its operating segments, with utility programs being a key contributor supported by stable multi-year contracts and growing program sizes [3] - In the first nine months of 2025, contract revenues increased by 20% year over year to $508 million, while net revenues rose by 27% to $275 million, indicating steady execution across service lines [4] Market Trends - Electric load growth is expected to rise over the next decade, driven by data centers and electrification trends, with Willdan supporting clients across the full project lifecycle [5] - The company reports a solid pipeline of opportunities actively converting into contracts, providing visibility into 2026, with utility programs and planning work aligned to long-term energy demand trends [6] Price Performance - Willdan's shares have gained 22% in the past three months, outperforming the Zacks Business - Services industry's 1% decline [7] - The company's utility programs and planning work are driving broad-based momentum, with a 20% growth in contract revenue and a 27% increase in net revenues in the first nine months of 2025 [9] Valuation Metrics - Willdan trades at a forward 12-month price-to-earnings ratio of 25.26X, higher than the industry's 18.66X [11] - Competitors such as APi Group, ABM Industries, and Bowman Consulting Group have forward P/E ratios of 24.83X, 10.47X, and 20.6X, respectively [13] Earnings Outlook - Willdan's earnings estimate for 2026 remains unchanged at $4.53 per share, indicating a projected year-over-year growth of 9.6% [14]