Analyst Summary:
Willdan Group has announced its financial results for the fourth quarter and fiscal year ended December 30, 2022, as well as outlook for 2023. The company has reported a successful fourth quarter with strong performance in its energy efficiency, construction management, and civil engineering businesses, despite navigating several CA IOU contract changes. CEO and Chairman Tom Brisbin noted that the momentum from the fourth quarter and the start of 2023 underlies the expectation of a strong year to come. Willdan has set financial targets for 2023, which assume no change in the current economic environment and exclude the effects of any future acquisitions. The company will host a conference call to discuss its results and outlook. It is worth noting that Willdan's financial targets and forward-looking statements are subject to quarterly fluctuations.
Quote from CEO Tom Brisbin:
"Our energy efficiency, construction management, and civil engineering businesses, all performed very well in the fourth quarter and we successfully navigated several CA IOU contract changes. This fourth quarter momentum, and our start to the new year, underlies our expectation that 2023 will be a strong year."
Forward-looking statements:
Willdan has provided financial targets for 2023, which assume no change in the current economic environment and exclude the effects of any future acquisitions that may take place during fiscal year 2023. Certain components of the financial targets provided are subject to quarterly fluctuations.