Willdan Q2 net loss $4.6M but adjusted EPS $0.24; LA DWP program restarted, SCE contracts approved

Willdan Group, Inc.

2021-Q2 EPS reported -$0.68 revenue$163,240,000

Q2 contract revenue $84.2M (+0.7%), net revenue $47.3M (+9.4%) YoY.
GAAP net loss $4.6M ($0.37 loss/share); adjusted net income $3.0M ($0.24/share).
Adjusted EBITDA $3.3M; operating cash flow negative $6.4M in Q2.
CEO: restarted largest LA DWP contract on June 28; CPUC approved 3 SoCal Edison contracts.
Expects 7 new CA IOU contracts to ramp; double-digit organic growth target for 3 years.

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