Willdan Selected for $4.5 Million Contract to Provide Building and Safety Services and Fire Plan Review for the City of Bellflower

Rhea-AI Summary

Willdan Group (NASDAQ: WLDN) has secured a $4.5 million three-year contract with the City of Bellflower to provide in-house building division operations and fire plan inspection review services. The contract expands Willdan's presence in Los Angeles County, with the company being selected for their expertise and personalized approach to ensure a seamless transition in delivering building and safety services essential for residents and business owners.

Positive

• Secured new $4.5 million three-year contract
• Expansion of business operations in Los Angeles County

Negative

• None.

Insights

Financial Analyst

This $4.5 million contract win represents a modest but strategic expansion of Willdan's municipal services portfolio in Los Angeles County. With an annualized value of $1.5 million over three years, this deal accounts for approximately 0.5% of Willdan's annual revenue. While the contract size is relatively small compared to the company's $385 million market cap, it demonstrates Willdan's continued ability to secure long-term municipal contracts and expand its presence in key geographic markets. The building and safety services segment provides stable, recurring revenue streams that help balance the company's project-based engineering work. The contract's modest size limits its immediate financial impact but strengthens Willdan's position for future municipal contract opportunities in the region.

ANAHEIM, Calif.--(BUSINESS WIRE)-- Willdan Group, Inc. (NASDAQ: WLDN) announced today that it has won a three-year, $4.5 million contract to provide in-house building division operations and fire plan inspection review services for the City of Bellflower.

“Our building and safety services are vital to the well-being of our residents and business owners,” said Ryan Smoot, City Manager for the City of Bellflower. “Willdan brings both the expertise and the personalized approach that we need to ensure a seamless transition. We believe they will be an outstanding partner for our community.”

“We thank the City of Bellflower for selecting us,” said Mike Bieber, Willdan’s CEO. “This contract expands our work in Los Angeles County, and we’re looking forward to supporting the City’s current and future needs.”

About the City of Bellflower

The City of Bellflower is located in Southeast Los Angeles County, California. As of the 2020 census, the city is home to 79,190 residents and 4,000 businesses. Bellflower is a robust and diverse city committed to quality governance and services for its citizens. The city also features award-winning public schools and a thriving downtown district. Learn more at www.bellflower.org.

About Willdan

Willdan is a nationwide provider of professional, technical, and consulting services to utilities, government agencies, and private industry. Willdan’s service offerings span a broad set of complementary disciplines that include electric grid solutions, energy efficiency and sustainability, energy policy planning and advisory, engineering and planning, and municipal financial consulting. For additional information, visit Willdan's website at www.willdan.com.

Forward-Looking Statements

Statements in this press release that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. It is important to note that Willdan’s actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors listed from time to time in Willdan’s reports filed with the Securities and Exchange Commission, including, but not limited to, the Annual Report on Form 10-K filed for the year ended December 29, 2023. Willdan cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Willdan disclaims any obligation to, and does not undertake to, update or revise any forward-looking statements in this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241121741000/en/

Al Kaschalk

Vice President

310-922-5643

akaschalk@willdan.com

Source: Willdan Group, Inc.

FAQ

What is the value of Willdan's (WLDN) new contract with the City of Bellflower?

Willdan (WLDN) secured a $4.5 million contract with the City of Bellflower for a three-year term.

What services will Willdan (WLDN) provide to the City of Bellflower under the new contract?

Willdan will provide in-house building division operations and fire plan inspection review services for the City of Bellflower.

How long is the duration of Willdan's (WLDN) contract with the City of Bellflower?

The contract with the City of Bellflower is for a three-year term.