Willdan Group Roars Ahead: Record-Breaking Q3 Results, Strategic Acquisitions, and Ambitious Growth Targets
Willdan Group, a leading provider of energy management and infrastructure services, has released its impressive third-quarter (Q3) results for 2026. The company's operational performance in Q3 was marked by strong growth across various metrics, setting the stage for a remarkable year.
In a conference call on November 5th, Mike Bieber, President and Chief Executive Officer, and Kim Early, Executive Vice President and Chief Financial Officer, presented the company's financial highlights. Willdan reported a significant increase in contract revenue and net revenue, with both figures growing by 18% to $215 million and $112 million, respectively.
The company's Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 22% year-over-year to $28.3 million, while its Adjusted EBITDA margin expanded to 25.2% of net revenue. This impressive performance has led Willdan to a record nine-month performance in 2026.
One of the key drivers behind Willdan's success is its diversified customer base. The company has achieved its strategic goal of growing commercial work, which now accounts for approximately one-quarter of its business. This diversification has reduced customer concentration risk and provided a more stable foundation for growth.
The acquisition of Mantis Innovation, completed on October 30th, has further enhanced Willdan's commercial energy management capabilities. Mantis brings an impressive roster of blue-chip clients to the table, including Sabey, DataBank, Giovanni, Hershey, Frito-Lay, Molson Coors, and ASSA ABLOY.
Willdan's strategic acquisitions have not only expanded its customer base but also enabled the company to tap into new markets. The integration of Mantis has positioned Willdan for continued double-digit growth in 2026 and beyond. As a testament to this vision, the company is raising its full-year targets once again and introducing preliminary 2027 targets that call for sustained growth.
Mike Bieber's enthusiasm was palpable as he congratulated Willdan's team on their excellent business execution and thanked customers for entrusting them with some of their most challenging projects. The conference call provided a glimpse into the company's operational prowess, strategic vision, and commitment to delivering value to its stakeholders.
