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Willdan Boosts Backlog With New $18M Contract in Paramount City
ZACKSยท 2025-03-24 16:55
Core Viewpoint - Willdan Group, Inc. is experiencing a positive trend in contract wins, which is expected to enhance its growth prospects and financial performance [1][4]. Contract Wins and Financial Impact - The company secured a $17.7 million contract to provide engineering and construction supervision services for the Paramount Unified School District, overseeing 2.2 megawatts of solar arrays and 44 electric vehicle charging stations across 11 sites [2][3]. - Willdan's contract revenues are projected to grow by 11% year-over-year in 2024, reflecting the benefits of consistent contract wins [4]. - Key contract wins include a $330 million five-year contract from the Los Angeles Department of Water and Power, a $15 million commercial energy program from the Los Angeles County Regional Energy Network, and a $6 million program for energy efficiency from the Central California Rural Regional Energy Network [5]. Market Performance - Willdan's shares have increased by 10.9% year-to-date, significantly outperforming the Zacks Business - Services industry's growth of 0.6% [7]. - The company is well-positioned for top-line growth and margin expansion in 2025 due to its project win trends and current pipeline [7].