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Willdan (WLDN) Wins $46M Clark County School District Contract
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Willdan Group, Inc. (WLDN - Free Report) has been selected by the Clark County School District — the fifth largest school district in the United States — to design, implement, and maintain advanced lighting and controls upgrades.
Per this $46 million energy savings contract, WLDN is expected to transform Nevada’s learning environment in the next 10 years. It will also lead ongoing student, faculty, and community engagement to promote awareness around energy efficiency, utility conservation, decarbonization, and the benefits of these approaches.
Post completion, the projects are expected to reduce Nevada’s energy costs by more than $2 million and operational costs by more than $360,000, annually.
Price Performance
WLDN has gained 15% in the past year compared with the Zacks Engineering - R and D Services industry’s 28.2% rise. Although the company underperformed its industry, the demand for its services remains healthy, driven by the energy transition and the demand for municipalities.
Image Source: Zacks Investment Research
For the first nine months of 2023, consolidated contract revenues increased 12.2% and net revenues rose 16.6% year over year. A strong backlog and continuing demand across the broad range of services backed the upside.
For 2023, the company anticipated a net revenue growth of 10-12%, suggesting net revenues in the range of $250-$225 million.
The Zacks Rank #3 (Hold) company’s 2024 earnings and sales are likely to witness growth of 19.2% and 16.6% year over year, respectively.
The Zacks Consensus Estimate for ALTR’s 2024 sales and earnings per share (EPS) indicates growth of 7.8% and 11.2%, respectively, from the previous year’s reported levels.
Sterling Infrastructure, Inc. (STRL - Free Report) currently carries a Zacks Rank #2 (Buy). It has topped earnings estimates in three of the trailing four quarters and missed on one occasion, with a surprise of 12.2%, on average.
The 2024 EPS estimate has increased to $4.74 from $4.68 over the past 60 days. Earnings for 2024 are expected to grow 13.1%. It currently carries a VGM Score of A.
VSE Corporation (VSEC - Free Report) currently has a Zacks Rank #2. The Zacks Consensus Estimate for its 2024 sales and EPS indicates growth of 20.6% and 9.9%, respectively, from a year ago.
VSEC surpassed earnings expectations in three of the trailing four quarters and met on one occasion, the average surprise being 18%.
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Willdan (WLDN) Wins $46M Clark County School District Contract
Willdan Group, Inc. (WLDN - Free Report) has been selected by the Clark County School District — the fifth largest school district in the United States — to design, implement, and maintain advanced lighting and controls upgrades.
Per this $46 million energy savings contract, WLDN is expected to transform Nevada’s learning environment in the next 10 years. It will also lead ongoing student, faculty, and community engagement to promote awareness around energy efficiency, utility conservation, decarbonization, and the benefits of these approaches.
Post completion, the projects are expected to reduce Nevada’s energy costs by more than $2 million and operational costs by more than $360,000, annually.
Price Performance
WLDN has gained 15% in the past year compared with the Zacks Engineering - R and D Services industry’s 28.2% rise. Although the company underperformed its industry, the demand for its services remains healthy, driven by the energy transition and the demand for municipalities.
Image Source: Zacks Investment Research
For the first nine months of 2023, consolidated contract revenues increased 12.2% and net revenues rose 16.6% year over year. A strong backlog and continuing demand across the broad range of services backed the upside.
For 2023, the company anticipated a net revenue growth of 10-12%, suggesting net revenues in the range of $250-$225 million.
The Zacks Rank #3 (Hold) company’s 2024 earnings and sales are likely to witness growth of 19.2% and 16.6% year over year, respectively.
Key Picks
Altair Engineering Inc. (ALTR - Free Report) Altair currently sports a Zacks Rank #1 (Strong Buy). ALTR delivered a trailing four-quarter earnings surprise of 135.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for ALTR’s 2024 sales and earnings per share (EPS) indicates growth of 7.8% and 11.2%, respectively, from the previous year’s reported levels.
Sterling Infrastructure, Inc. (STRL - Free Report) currently carries a Zacks Rank #2 (Buy). It has topped earnings estimates in three of the trailing four quarters and missed on one occasion, with a surprise of 12.2%, on average.
The 2024 EPS estimate has increased to $4.74 from $4.68 over the past 60 days. Earnings for 2024 are expected to grow 13.1%. It currently carries a VGM Score of A.
VSE Corporation (VSEC - Free Report) currently has a Zacks Rank #2. The Zacks Consensus Estimate for its 2024 sales and EPS indicates growth of 20.6% and 9.9%, respectively, from a year ago.
VSEC surpassed earnings expectations in three of the trailing four quarters and met on one occasion, the average surprise being 18%.