Willdan Group, Inc. (NASDAQ:WLDN) Q3 2022 Earnings Conference Call November 3, 2022 5:30 PM ET

Company Participants

Al Kaschalk – Vice President-Investor Relations

Tom Brisbin – Chairman and Chief Executive Officer

Kim Early – Chief Financial Officer

Conference Call Participants

Chip Moore – EF Hutton

Operator

Welcome to the Willdan Group Third Quarter 2022 Conference Call. I’ll now turn the call over to Al Kaschalk, Vice President of Investor Relations. You may begin.

Al Kaschalk

Thank you, Missy. Good afternoon, everyone, and welcome to Willdan Group’s third quarter fiscal 2022 earnings call. Joining our call today are Tom Brisbin, Chairman of the Board and Chief Executive Officer; Kim Early, Chief Financial Officer; and Mike Bieber, President.

The call today builds on our earnings release we issued after market closed today. You may find the earnings release and the Willdan investor report that accompanies today’s call in the Press Release and Stock Information section of our Investor Relations website on ir.willdan.com. Management will review prepared remarks, and then we will open the call up to your questions.

Statements made in the course of today’s conference call, including answers to your questions, which are not purely historical, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve certain risks and uncertainties, and it is important to note that the company’s future results could differ materially from those in any such forward-looking statements.

Factors that could cause actual results to differ materially and other risk factors are listed from time to time in the company’s SEC reports including, but not limited to, the annual report on Form 10-K filed for the year ended December 31, 2021. The company cautions investors not to place undue reliance on the forward-looking statements made during the course of this conference call. Willdan disclaims any obligation and does not undertake to update or revise any forward-looking statements made today.

In addition to GAAP results, Willdan also provides non-GAAP financial measures that we believe enhance the investors’ ability to analyze the business trends and performance. Our non-GAAP measures include net revenue, adjusted EBITDA and adjusted EPS.

I’ll now turn the call over to Tom Brisbin, Willdan’s Chairman and CEO.

Tom Brisbin

Thanks, Al, and good afternoon, everyone. Our third quarter shows progress on many fronts. Revenue, earnings and cash flow were all up as projected. The business overall is good. All business units have gotten past the COVID and restart problems. We have factored in the delays on supply chain. We have collaborated well with Pacific Gas & Electric, San Diego Gas & Electric, and Southern California Gas on the start-ups and negotiation of the California IOU programs.