Willdan Group, Inc. WLDN has been selected by the City of Seattle for a four-year contract to implement the Seattle City Light Energy Design Assistance Program.
Following the announcement, WLDN stock gained 1.8% during the trading hours on Monday.
Willdan’s Work Scope
Per the contract, Willdan will offer technical assistance to support energy-efficient design decisions in developing new multifamily and commercial buildings.
Furthermore, the company will also share knowledge and discuss its NEO software through partnering and subcontracting with qualified, local women-owned and minority-owned businesses. Such activities will help figure out ways to enhance the businesses’ current skillsets and broaden their impact in the industry.
The Seattle City Light Energy Design Assistance Program is undertaken to achieve the city’s vision of a shared energy future wherein the next-generation buildings will be designed considering electrification and energy efficiency. Willdan believes that its tech-enabled approach allows utilities of all sizes to cost-efficiently meet growing demands for new construction while achieving energy goals.
WLDN’s Consistent Contract Wins Bode Well
Willdan has been immensely benefiting from its consistent contract wins, which, in turn, have been aiding its growth prospects. Since the beginning of 2024, the company has reported 10 contract wins, including the above-discussed one.
Recently, on Aug. 8, 2024, Willdan won an award from Clark County School District in the United States for a $102 million contract encompassing delivering energy-saving projects across 204 schools. Furthermore, on July 18, the company announced the delivery of energy efficiency projects for a large data center in the Pacific Northwest, exceeding 4.1M kWh in annual savings and reducing peak load by 475 kW.
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Shares of this provider of professional, technical and consulting services have surged 104.4% in the year-to-date period against the Zacks Business - Services industry’s 15.1% decline. The ongoing contract wins thanks to the growth in electricity demand at data centers from Artificial Intelligence and other related macro trends will continue to push the company toward an outperformance in the upcoming period.
WLDN’s Zacks Rank & Key Picks
Willdan currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Business Services sector.
Limbach Holdings, Inc. LMB currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
LMB delivered a trailing four-quarter earnings surprise of 67.9%, on average. The Zacks Consensus Estimate for LMB’s 2024 sales and earnings per share (EPS) indicates growth of 1.3% and 38.1%, respectively, from the prior-year levels.
Sezzle, Inc. SEZL presently sports a Zacks Rank of 1. SEZL has a trailing four-quarter earnings surprise of 158.3%, on average.
The Zacks Consensus Estimate for SEZL’s 2024 sales and EPS indicates growth of 38.6% and 436.8%, respectively, from the year-ago period’s levels.
DocuSign, Inc. DOCU currently sports a Zacks Rank of 1. DOCU delivered a trailing four-quarter earnings surprise of 18.3%, on average.
The Zacks Consensus Estimate for DOCU’s fiscal 2024 sales and EPS indicates growth of 6.5% and 15.8%, respectively, from the prior-year levels.
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