Willdan Group Files 10-Q for Q3 2024

TL;DR

Willdan Group (WLDN) filed its Q3 2024 10-Q. Check financials.

AI Summary

Willdan Group, Inc. filed its 10-Q for the period ending September 27, 2024. The filing details financial performance and operational updates for the company, which provides engineering and energy services. Key financial data and disclosures relevant to investors are presented.

Why It Matters

This filing provides investors with crucial financial and operational insights into Willdan Group's performance during the third quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal risks related to revenue, expenses, or market conditions.

Key Numbers

• 2024-09-27 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 2024-11-01 — Filing Date (The date the report was officially submitted to the SEC.)
• 2023-12-30 — Prior Period End Date (Provides a comparative point for financial analysis.)

Key Players & Entities

• Willdan Group, Inc. (company) — Filer of the 10-Q
• 2024-09-27 (date) — End of the reporting period
• 2024-11-01 (date) — Filing date
• 2023-12-30 (date) — Prior period end date

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share WLDN The Nasdaq Stock Mar

Filing Documents

• wldn-20240927x10q.htm (10-Q) — 2498KB
• wldn-20240927xex31d1.htm (EX-31.1) — 11KB
• wldn-20240927xex31d2.htm (EX-31.2) — 14KB
• wldn-20240927xex32d1.htm (EX-32.1) — 13KB
• 0001558370-24-014072.txt ( ) — 10068KB
• wldn-20240927.xsd (EX-101.SCH) — 50KB
• wldn-20240927_cal.xml (EX-101.CAL) — 76KB
• wldn-20240927_def.xml (EX-101.DEF) — 161KB
• wldn-20240927_lab.xml (EX-101.LAB) — 480KB
• wldn-20240927_pre.xml (EX-101.PRE) — 363KB
• wldn-20240927x10q_htm.xml (XML) — 2121KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 32

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 45

Controls and Procedures

Item 4. Controls and Procedures 46

OTHER INFORMATION

PART II. OTHER INFORMATION 47

Legal Proceedings

Item 1. Legal Proceedings 47

Risk Factors

Item 1A. Risk Factors 47

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 47

Defaults upon Senior Securities

Item 3. Defaults upon Senior Securities 48

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 48

Other Information

Item 5. Other Information 48

Exhibits

Item 6. Exhibits 49 i Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This Quarterly Report on Form 10-Q (this "10-Q") contains statements that constitute forward-looking statements as that term is defined by the Private Securities Litigation Reform Act of 1995, as amended. These statements concern our business, operations and financial performance and condition as well as our plans, objectives and expectations for our business operations and financial performance and condition, which are subject to risks and uncertainties. All statements other than statements of historical fact included in this 10-Q are forward-looking statements. These statements may include words such as "aim," "anticipate," "assume," "believe," "can have," "could," "due," "estimate," "expect," "goal," "intend," "likely," "may," "objective," "plan," "potential," "positioned," "predict," "should," "target," "will," "would" and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events or trends. For example, all statements we make relating to our plans and objectives for future operations, growth or initiatives and strategies are forward-looking statements. These forward-looking statements are based on current expectations, estimates, forecasts and projections about our business and the industry in which we operate and our management's beliefs and assumptions. We derive many of our forward-looking statements from our own operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that predicting the impact of known factors is very difficult, and we cannot anticipate all factors that could affect our actual results. All of our forward-looking statements are subject to risks and uncertainties that may cause our actual results to differ materially from our expectations. Importan

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements WILLDAN GROUP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEET S (in thousands, except par value) (Unaudited) September 27, December 29, 2024 2023 Assets Current assets: Cash and cash equivalents $ 53,106 $ 23,397 Restricted cash — — Accounts receivable, net of allowance for doubtful accounts of $ 1,465 and $ 866 at September 27, 2024 and December 29, 2023, respectively 63,109 69,677 Contract assets 104,236 93,885 Other receivables 2,359 1,169 Prepaid expenses and other current assets 5,329 3,888 Total current assets 228,139 192,016 Equipment and leasehold improvements, net 28,955 27,097 Goodwill 131,144 131,144 Right-of-use assets 14,366 12,465 Other intangible assets, net 26,541 31,956 Other assets 3,447 4,949 Deferred income taxes, net 14,661 15,961 Total assets $ 447,253 $ 415,588 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 38,007 $ 33,193 Accrued liabilities 58,521 54,129 Contract liabilities 15,202 13,183 Notes payable 10,137 8,452 Finance lease obligations 1,175 1,186 Lease liability 5,509 4,537 Total current liabilities 128,551 114,680 Notes payable, less current portion 81,757 88,979 Finance lease obligations, less current portion 1,453 1,184 Lease liability, less current portion 10,593 9,758 Other noncurrent liabilities 938 1,142 Total liabilities 223,292 215,743 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.01 par value, 10,000 shares authorized, no shares issued and outstanding — — Common stock, $ 0.01 par value, 40,000 shares authorized; 14,117 and 13,682 shares issued and outstanding at September 27, 2024 and December 29, 2023, respectively 141 137 Additional paid-in capital 195,168 185,795 Accumulated other comprehensive income (loss) ( 80

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View this 10-Q filing on SEC EDGAR