News

Willdan Group, Inc.’s WLDN wholly owned subsidiary — Energy + Environmental Economics (E3) — is set to develop an Optimized Strategic Plan for sourcing carbon-free electricity in the City of Pasadena.

E3 will work closely with the City of Pasadena’s community-owned utility, Pasadena Water and Power, to explore the options available, including distributed energy resources, renewables, storage, and emerging technologies. This will help WLDN meet the City of Pasadena’s goal to secure 100% of its electricity from carbon-free sources by 2030 in a reliable and cost-effective manner.

Price Performance

WLDN has gained 56.1% so far this year compared with the Zacks Engineering - R and D Services industry’s 21% rise. The company is benefiting from strength in both government and utility customers, along with strong software sales. The rapid growth in electricity demand from artificial intelligence and data centers is becoming a new catalyst in this market.

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In the first quarter of 2024, consolidated contract revenues increased 19.4% and net revenues rose 11.7% year over year. A strong backlog and continuing demand across the broad range of services backed the upside.

For 2024, the company anticipates net revenues in the range of $270-$280 million versus $269.7 million reported in 2023. Adjusted earnings per share (EPS) is expected to be between $1.80-$1.87, and adjusted EBITDA in the range of $48-$50 million. In 2023, the company reported adjusted EPS and adjusted EBITDA of $1.75 and $45.7 million, respectively.

The Zacks Rank #3 (Hold) company’s 2024 earnings and sales are likely to witness growth of 6.3% and 3.6% year over year, respectively.

Key Picks

Fluor Corporation FLR currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

FLR delivered a trailing four-quarter earnings surprise of 51.3%, on average. The Zacks Consensus Estimate for FLR’s 2024 sales and EPS indicates growth of 14.3% and 5.5%, respectively, from the prior-year levels.

Quanta Services, Inc. PWR currently carries a Zacks Rank of 2.

PWR delivered a trailing four-quarter earnings surprise of 4.7%, on average. The Zacks Consensus Estimate for PWR’s 2024 sales and EPS indicates an improvement of 8.5% and 17.9%, respectively, from a year ago.

Dycom Industries DY currently holds a Zacks Rank of 2.

DY delivered a trailing four-quarter earnings surprise of 30.2%, on average. The Zacks Consensus Estimate for DY’s fiscal 2025 sales and EPS indicates an improvement of 10.2% and 8.1%, respectively, from a year ago.

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