WLDN - Earnings call transcript Q2 2020

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Operator

Good day, everyone, and welcome to the Willdan Group Second Quarter 2020 Conference Call. Today’s conference is being recorded. At this time, I’d like to turn the conference over to Al Kaschalk, Vice President, Investor Relations. Please go ahead, sir.

Al Kaschalk

Thank you, Telari. welcome Group’s and Call. Quarter everyone, afternoon, to Second Willdan Earnings Good

Officer; President our Brisbin, today – Officer; issued Chief Financial Tom today builds Stacy after Mike of Chief Joining release, are we and on Chairman our call which The Willdan of Group. the earnings Board McLaughlin, market and call today. Bieber, was Executive close

forward-looking statements. Group statements XX-Q. or made today. obligation company any update forward-looking course forward-looking Form during Factors XXXX. Management that other including, results find will statements accompanies and which made place we open undertake and the of call. future disclaims the the not QX cautions involve Statements not reports, in Willdan may The certain Investor materially listed The within section not are and it’s company’s and are the historical, such of factors risks to, on the and the quarterly prepared XX-K call, for made the today’s Willdan the ended cause on uncertainties, this undue the any forward-looking to company’s Investors Litigation Form year meaning December review could release limited XX, are willdan.com. call Securities from remarks, in differ reports will investors the and today’s the XXXX time risk to not to earnings from note that statements in and materially those reliance of forward-looking conference to revise but Private actual call in the important SEC You to your results statements of the purely of subsequent Act differ Report could then course does to that up time any questions. XXXX conference Reform

provide analyze results, In business trends Willdan addition that performance. to ability also and the believe enhance non-GAAP investors' measures GAAP financial to we

from related EPS adjusted our of employees. believe EPS and for from by non-GAAP over business With measure our who revenue, including revenue a allows net certain impact end operating GAAP items improved the Tom company to session. operating included details, include commentary measures are these work for measures measures an the and before the provide net of turn activities release reconciliations results. followed are which derived be at removes expense for performance, call who We provide earnings our adjusted outlook to non-GAAP issued supplemental update, Our the I’ll EBITDA. and performed the revenue on business Stacy we all of EBITDA now our of that, Q&A today. will financial the by will adjusted COVID-XX Adjusted of Stacy?

Stacy McLaughlin

we our the income as subsequently by X XXXX. revenue from to an the X the $XX.X as and financial XXXX acquisitions call of million XX% second Economics, COVID-XX pandemic decreased million, were contract million efforts orders on combined direct quarter. XXXX. Al. increase impacted Thanks, offset projects segment, revenue, Corporation programs a decrease New quarterly and negatively due in our the Energy Net last in minus and mandatory Onsite was at year of our in driven engineering than In majority of of the the were small states segment, In second EX. and subcontractor to costs, cases. contract recap in segment issued and of for second our of in X. of resurgence March. install during X.X% expected Energy revenue on Environmental was and its a decreased a Phase contract curtailed with energy defined contract in incremental with our revenue statement, of contract three spread and shutdown for July quarter we was start Total I’ll government May revenue ago ended California provide decrease But result discuss our our In The from million direct from and $XX.X revenue months and California, revenue then our as balance to also New a for and primarily partially our quarter, our details XXXX. including energy derived June and our generated in York, $XXX.X began COVID-XX consulting business which overall, business historically business began from brief York, July have May openings the quarter Phase six known the performance other X, sheet. revenue, better The in XXXX in services openings limit from XXXX $XX.X from decreased

acquisitions. government recent by projects of Within due contribution in and which the offset decreased contract the energy our partially XX.X%, was revenue segment, increases by net to revenue, from revenue decreased

Within revenue our of in contract direct the government offset our consulting The and contract from X.X%, combined contract revenue in was with small second projects segment, due EX. additional were million in energy last $XX.X million to revenue costs decrease Direct partially for of an to $XX.X our contract same installs Onsite decrease the for business of in due decrease acquisitions XX.X% of engineering segment, period quarter and the by the in our net which primarily a revenue decreased year. direct was of related costs segment, revenue. to energy decreased revenue increase contract from generated from programs XXXX,

in The prior Total stock-based reflects period. compensation. of of increase and million XX% period down year of from compared revenue to XX% from to year. period same quarter work second in of was for down to quarter administrative for contract degree costs in the XXXX of Our contract direct due the the $XX.X million the in the and and difference XX% were and changes increased mix were subcontractors the each amortization quarter, which first in second utilized. the expenses million $X the our $X.X of are general prior million The $XX.X total revenue primarily of

costs suspending in response borrowings Additionally, COVID of $XXX,XXX XXXX down cost personnel its the costs COVID-XX pandemic, taken for incurred the expenses will We due was contract down company the has acquisitions quarter quarter the out related other taken compared $X.X second XXX In quarter of in in continue second by XX.X% fund points to requiring of XXXX. incurred and like $X.X facility with to of to suspensions, risk LIBOR, under to in temporary last we The our including by of credit to second controlling XXXX the the to minimize and intended million the to quarter quarter. the did and help increased in quarter. percent prior reductions to period measures the in-person the ago revenue quarter. was of second million second Onsite reduced offset our severance as year income take reductions COVID-XX precautionary the the was net Adjusted employees, to $X.X for company work-related job revenue EBITDA quarter was second million employees point but the XX.X% of in acquisitions XXXX EX, to EBITDA a restricting compared for million the its million flat of in to XXXX. our was the borrowing in the operating for rate of our basis that in to of of net XXXX versus million second interest compared work second We resulting operating higher loss quarter the period the travel period. majority $X.X year year. quarter non-essential approximately remotely, an I nearly the We generated good and expense. meetings. $X.X XXXX. the $X.X of recent adjusted EBITDA due X-month for of quarter same Adjusted of interest expense compared with facility would in debt Despite XX% only a of from X%

income XXXX, in had ended share, last year. For share, items. with net flat loss $X.X $X.X income a million, July income second $X.X benefit share. $X.X versus an X, million, million, $X.XX the which We per net of we income diluted million, year. XXXX same compensation months our the of of per both the $X.XX or diluted period recorded period stock-based $X.XX adjusted net an GAAP net non-cash or tax X quarter was diluted amortization, On same our the compared intangible per was from basis, are last of were or adjustments The in and significant most which

the large of to Turning of a heavy with operations. were from very XXXX. on some during and particularly flow successful cash We utility collection, entered sheet half customers. These efforts from emphasis XXXX first our cash the balance

flow cash the in generated period XXX% During same the an year. last million quarter, second increase we operations, of from $XX.X from

other $XX.X of provides July ended provides and under the temporarily feel for changes the our XXXX, with For lending borrowings X, modifications. months we operations XXXX, the compared was The through cash amendment quarter May that rate period makes financial XXXX. the by second facilities, interest $XX.X covenants our cushion to for temporary an X, million provided On credit a enough amendment ago. the within debt covenant finalized X group year additional company’s we flexibility same million

X, million our credit facility. As outstanding $XXX.X on we of July had XXXX,

facility our with have available. credit We no borrowings revolving under $XX million

of support our amounts XX-month trailing working the Tom to the a turn borrowing credit leverage company. interest over COVID-XX The existing activities related was the call restrictions. and to We now three ratio, result anticipates and update, debt the outlook to the company terms as half estimate like of year second the for measured year. net an growth facility, as $X.X of for facility company’s business under of of easing Our its provide of credit a to XXXX business I’d the EBITDA to during expectation COVID-XX need fiscal including expense by capital adjusted million for approximately times. additional

Thomas Brisbin

good Thanks, Stacy, everyone. afternoon, and

to provide business or construction utility of business daily second about rapid to During to down multifamily utilities, a public prevent XX% came an and development conducting where update. install the efficiency. industrial, spread customers, as energy a our slowed will cities company utility This and we are COVID-XX. halt with was sector installations customer quarter audits, interface we our business XXXX, and Early the update highlight assist our We and nation activities This commercial, energy pandemic, call sales, direct managing this the interface came halt. locked to states of across this the on how with during afternoon, we inspections. XX% customers our primarily mid-March

was our as be employees local work and noted identified work were that not our state was able affected lockdown, should of by work It to from of the XX% home. and Fortunately, also our most essential.

To with professionally. costs and was a with and impact. overall, deck XXXk responded revenue match faced was labor, we discretionary a took furloughs, all-hands As costs, We environment. ship took work dedicated XX; a XXX; reduce up an stopped. had limit sinking, a suspension to hours; It actions declining salaries suspended; more our The of The all company, had customers indirect on its the for fees quickly hit. reduced to we XX%; all nearly we effects to and company meeting. was company of situation. reduced were financial layoffs, spending employees not appropriate fund; all difficult but match The COVID-XX’s like

health measures kept We place layoffs. health We all for safety and employees. the the ensure our in also took benefits to of

last expected basically quarter. would environment XX days, XX We to second COVID of all this the

we cash we challenges, best both would challenge. cash our cash the massive pleasant surprise, cost in and anticipating to put were our to revenue potential COVID-XX. first We a did We had due to and how customers collections, not on a effort and addition function the quarter, know ever. collections second In

We customers employees company Our flow said, in a half generated, really million the came first operations the from of in Stacy $XX.X and year, through. cash as record.

always important, that agreement exceeded. in million under debt debt, servicing but we flexibility second On amended of $XXX credit provided quarter covenants have approximately is were that have and cash may covenants May bank we course, we the XXXX. our increased been our Of in X,

small Department that say still excuse in on our from credit exceeded and cash to of resulted Sitting covenant proud small today, Water The cost limits management reductions except lockdown. contracts, are and in here all restated no we me. Power, are restarted, – as of our businesses company, a Angeles LADWP territory As have Los are businesses today. agreement pre-amended

School relief to some District these getting shifting they order get where into the energy are LADWP focus to Angeles on facilities Unified We’re are because efficiency Los closed. they in

$XX Our LADWP XXXX goal was million.

strength schools. have We date, of this year the delivered XX% goal to driven over by in

stuff work would I And schools been the all reduced. to In no or like increase only it unfortunately, months This still with goes contracts want delayed. customers is challenging. our also year uncertainty, canceled good trend XXXX. fortunately, XX a us the no will quickly this operation expect cases, months seven work uncertain. We is to There’s as be to point on. ability and is out and have in our into to budgets of of COVID ramp that problem, but this

of our New business on X. York City for type opened July

XXXX Our hours. kilowatt XX Con was goal million Ed

hours delivered million would kilowatt remaining still We Con date. have like Thus, July. hours X in in be have to five goal. XX XX us to been kilowatt delivered annual next has year the million of the million million delivered Ed hours kilowatt kilowatt the XX the month hit months. to

will the into by will XXXX the try year, be but achieved utilities savings that pushed We this not is in XXXX. an understanding there

up, to greenhouse are their and customers, The State, high. We startup. XX%. and thus have we who York use have payback. XX%. the increased York Heat ramp fully faster for COVID. electricity by are sells heat reduces utility the the ramped at of at The a we signing New are previous running increased are open. reduced reducing city summary, to more get incentive program their the up. energy to yet Contractors strong, Incentives now by emissions. can because encourage Sales use is utilities customers Incentives the Clean better pumps. New said In least XX% are expecting no but are In after back will Also, not deal all it are work. Customers customers gas

legislation country. engaged efficiency the are business We that small energy programs in also the actively provide to will across stimulus utility

are business XXXX. their this would Utilities businesses the procurement. a This impacted recovery. legislation surprise. our to and development, has in fall not COVID COVID conducting to We actively big municipalities country’s expect be by help small

pipeline programs segment has Our growing. schedule. is this energy quarter, during California engineering strong remained efficiency the on and opportunity are

list We two this are not with market sector We all list, partial pursued we IOUs. at incumbent awards have public PG&E. two time The industrial and over picked up by share. of were active three $XX programs: program, were public public. in the awarded negotiations so information the a years. this million only on On either we is new We

performed XXXX. days. to expect first With in resiliency we for the management more thank information our the contracts the directors, in our questions. these well employees like and we expected and On half. board customers the we Start-up is of during their behalf take quarter, public XX and to shareholders, improve during this can of pandemic. expect of second performance We would We in next second quarter of that,

Operator

first take question Moshe Katri Wedbush. [Operator our with Instructions] We’ll

Moshe Katri

a Thanks, just to tough of to some guys, on back execution want congrats in commentary. start and environment. strong just I go to the

now, I think the that by roughly press lockdown. impacted the of right about still is indicates business release the XX%

else? And more color have get you Can LADWP. I some seeing LADWP? in mentioned Are couple issues some of terms still follow-ons. these you beyond think we I a of where

Thomas Brisbin

start I’ll it. with

are the open work contract. the And all As They’re doing LADWP said. is waiting Other them at that, And in small across nation other businesses. LA and than open utility contracts rather of partially it’s small the than only only closed, as today, we’re schools utility closed for running. I to up territory. businesses their

part So of the your think question, with to XX%, that regards I was Moshe?

Moshe Katri

That’s correct.

Thomas Brisbin

we like traffic. to take We’re part? separate would direct to rooms, Mike, you in that so have

Mike Bieber

Tom. contracts ramping this utility The point. at are Sure, up

up that estimate impact to our of we getting saw on rate so prior as run back to basis speed represents COVID. a that And XX%

the states seven give you a for Midwest. Power, So Duke in examples, couple instance, to throughout

of While not. business is small a are customers approach lot the that the we open, contract

before that So delayed of have up their project we signed a business until may project then and the implementation reopens.

general have So but is factored very that to that’s business delay. XX% Sales actually in the sites getting of happening. been certainly strong, into access

seeing right things of we’re that Moshe. are the types those actually So now,

Moshe Katri

then Okay. helpful. of you’ve pressures aligning – cost your been base you’re And some adjusting revenues. been seeing obviously your That’s to in you’ve the

way, do if bringing that up? think of it those people guess quickly to are at be hiring of terms can we able you other to when execute back ramp you in and I furloughs some open kind things the how of look on So

Thomas Brisbin

point, and the we’ve more brought right of number, still think current might more number, I furloughed. have XXX a at I Moshe, Mike you this Do think we’re XX Mike? are recent have a furloughed, around

Mike Bieber

No, that’s number. my

Thomas Brisbin

so other. locations, different in each we’re look at Again, Okay. can’t we

Moshe Katri

Okay.

– it’s So basically

Thomas Brisbin

to has back ability good. them ahead. been Our But very bring go

Moshe Katri

time once takes it you’ve pretty No, utilities. mentioned always been Okay. I And the But then back there’s seems ramp. you start always California, just good. quickly. it we that’s – ramping concern public to That’s costs, aligning a that great. four

with in of outsourced? the Is was percentages or been still schedule So needs be are terms that to kind quarterly basis a schedule. we going there updated? the work going that of on, changed that’s the of or actual on whole Remember still a

Thomas Brisbin

matter schedule. on. just to world. going of it when They becomes the still still on a It’s It’s public

So what what’s different two told we published know versus published. you things. are what’s I been been

have really negotiations, until until the they’re are with end, all anything, – active can’t those four those going And though, We public. of or until say negotiations we IOUs.

Moshe Katri

the – to on the numbers and our we’re what’s And about – try modeling obviously, Yes. we we can think can half, go look QX income second QX we’ll Okay. you then what model. the through our when at should statement? What

Thomas Brisbin

take to that? you Mike want

Mike Bieber

Should quarter. And look as margins, XX.X% improve where of next look are. then quarter. recovered revenue percent net for haven’t higher for from about a revenue, which And fully That happen little in down QX, of pace this would typically they flat EBITDA which be don’t I this a high maybe increased QX. slightly would remain may adjusted I be that’s to may quarter. the of fourth wildcard, on more QX And not the revenues margins to year. in which quarter. just come That a is in the QX. We It little fourth know. depends more a should yet, reopening.

Moshe Katri

Okay.

Mike Bieber

more Moshe, talk need your models, call. we the you color can If on

Moshe Katri

where half Sure. the color on et Yes. for are how like, And terms follow-up software Any the the the analytics wins cetera? of we question. second then in does quarter, pipeline, on business look integrated

Thomas Brisbin

You’re doing Mike. great,

Mike Bieber

I’ll take one. right. that All

a couple quarter. we the second small had wins So in of

know into one had not COVID have The far pipeline delayed We’ve wins of next because year from We had year been good. spending. I thus this any year. that large this that has project looks of

So will still a this this one. I matures in QX, and that year. year. was good think typically year have really we’re they that probably The again pretty seeing QX pipeline and

demos, late we’re we’re So couple this up number negotiations and actually are a pricings, will on that which doing start of in a deployments of year.

think it good, Moshe. looks I pretty So

Operator

with move Partners. Instructions] Capital [Operator Craig We’ll to Irwin Roth

Craig Irwin

and reinventing commission we contract to XXXX held something two a the largely look if opportunity again for going opportunity smooth the you at So this this at last be up far beyond and I processes procedures to path progress? how we years and the by the utilities did that’s feel the as will be as can way guess look California that entire developed are for do mean, XXXX I us we contracting prepared are gives over wheel process? the immediate the process in point? the new the Or initiations, for

Thomas Brisbin

it hope New they straighten are utilities, for confusion, a Jersey there’s and early bit little out. we the in indications that really I Well, answer can’t in but of

on about can other states And that. questions are that’s what favorable are we do. tracking feel we’re that that asking good say to some we I all The very

in the let than state it’s say say that. just I middle the shouldn’t of I by be say And should could – So worse that. nothing that state. California, me

Craig Irwin

isn’t governor Let’s the listening. hope

Thomas Brisbin

been Craig, five it’s But been No. it’s years. –

Craig Irwin

they It commission right. of their But not insane. Fundamental motivated That’s it’s is the do. not Oh, completely eliminate what was product, utilities right? are to insane. primary use the just

that the but cringe, money. that say probably Of utilities may because make to squander quite going course like they’re it’s it shouldn’t true. I

team better So at was or in what think but hurdles And in done Is you something or compensation this congratulations. you yet? of And specific employees. so levels obviously cuts is? the at pay took the working happens downsizing year? a executive visibility the a and quarter, employees large participated to good that your is expected, loyalty you by milestones board the we set organization? anyone for there than can goals I reinstating that next much there a different defined really or was this execution levels of policy us maintain all the maybe Is look else you in of would quarter by deliver the know tell your

Thomas Brisbin

one. reinstatement. I’ll of let closer where are to Mike all He’s handle operations across that we the

Mike Bieber

exception. by has that not limited one another, been particularly COVID a that’s our comment, levels with of And for limited to restored pay businesses exceptions much As pre-COVID and general Craig, the business. reason impacted or are are

I or just has in XXXk two. far week in expense So restored in think at here has we general, QX, last thus not pay been restored. the look will a discretionary is

to As well and quarter. ago two expenditures, board that elected days next who as the they’ll met and quarter, pay for this reinvestigate their suspend board

So that’s the status. current

We’re normal flow again. returning to

Craig Irwin

next one can Thank expect different that the that. the side a you opportunity, money. guys would next corporate could motivation on type this customer on the right? several that’s So years. for over brought of is service the what industrial And you sort Onsite environment, you you to given that corporate of activity the question increase current do. With save greatly My potentially

this exit year some and of XXXX? other of and Onsite of are Are upgrades organization? uptick for industrial look pieces think calendar about through costs equipment you the long should help an at opportunity those them What provide as returns. customers these energy as that pursuing people reduce and we that term You their an much sustainable and for that you’re the seeing we

Thomas Brisbin

Mike. ahead, Go

Mike Bieber

one largest AT&T. with appear your customers, this information, it thesis. watching new does us so that go And of is You’re But their I’ll we’re it spending customers increasing industrial our significantly. right, closely. brand to Craig, in And are

AT&T. sustainability just to asked we simply in and partially driven as opened they’ve the as work to gates our corporate performance you goals. us can said, It’s partially get for possibly year? That’s by do they’ve us industry. much – for this driven going the done players by being can other how relative We’re And being much

there that very this area for industrial performing management customers. a We’re driving which overwhelming you’re and cost is of that think energy on well focus And in I significant right; that’s market. input, is

up ramping industrial in we’re So significantly the sector.

Craig Irwin

may. base And that then the little if a is unemployment it engineering I core Great. seems hanging a business, to of last very customer traditional of seems be continuing can and you to million question, is feel would that it next numbers COVID impacted. the unemployed The suggest, so in I side bit Do for XX your scary what better I But days number, than can and customers? you very the your is that optimism a the But us are definitely in guess right? over families over number there’s revenue that I share with maybe soon, feel engineering quarters? trajectory. spend describe similar for of flattish stay money consulting on conversations there there optimism. the all these

Thomas Brisbin

our at they’re even impacted. It’ll this maybe improving. Craig, flat that all indications is, point to or be not surprise,

we would have wrong. about And first don’t indicate by usually development in there wrong. the Now anything The California. seen the that we’re we it thought cities doing we’re for there’s cities. But anything’s we’re know to that part permitting no city now. primarily out is the from indication focused going or because the And

now, or wouldn’t recession. we I past predicting could – of anything. kind haven’t like too right a say quarters. it’s That’s three we of So But as two look much seen

Craig Irwin

really capabilities for the music? way share the local services solve much through or to is marching that’s local and is, That’s engineering develop for giving less kind spend has their resources Is would It’s far think internally? that good it of forward just access really just track because a to to to to your technical get and broader government hear. record indirectly to governments Do they problems. Willdan still this a and than what this facing of best talent Willdan you talents

Thomas Brisbin

field, they a have get of to hasn’t and Willdan. turn the staff. to slowed lot their in construction things A lot their they I think turned Willdan to staff do couldn’t supplement down. couldn’t And

at about that’s point. I can So all this say

Craig Irwin

Excellent.

ask Another is question I IA. want to about

months, we no-fly few all in there. went with. the Can you there. added what number dealing into like with sort COVID sales sales share then bottom nine the in you the participate to employees still sales a And guess the this should current in continued have IA? to contributor that zone fully potentially a to Do you company I we’ve a deal I Within conversations next feel large that the of hope show last value at able pipeline been do are in looks we of their these of and people mature? over And capture new line this people to say Have the environment? that’s couple us years?

Thomas Brisbin

Mike. ahead, Go

Mike Bieber

Craig. I would way, describe it this

at year. channels new We we the and beginning of sales sales have channels have didn’t two products the for at least new Brand IA opened up technology.

sales a EX’s first regular rest IA. That’s there’s The business. well. And EE It’s of while, early. with between consulting cycle The services good one of us exchange working EX working. the these takes types and a new the out with is worked where a are customers. is but second and still communication And front sales for with line information work and that’s technologies of needed to EX’s channel the

optimize one believe world in ways the new world And about call, and We energy in technologies, which that new have you we new talk to starting we give with a And efficiency has done point new we bore one IA have It’s but you intend won’t no to that will to we’re bear this is technology. on also been I some flow I’d now. brand something exciting that else And for At the demo, us. for right never technologies, to this fruit. is actually. launch like And our before. hope with customers. sales that a this

the bear XX just We’re over but will starting, next fruit months. XX and

it. describe I’d how that’s So

Craig Irwin

for pulling really environment. my congratulations you job. should difficult the in takes team you questions, for taking Willdan whole a have a great thank team Well, and executing very a and Excellent. done It say guys I to together,

Operator

Riddick we’ll with next Marc to And move Sidoti.

Marc Riddick

maybe could given wondering I bit we my a wasn’t that if if of I that or missed if company, not or talk the as months I if long-term you’ve little six sorry Wondering of a acquisition sure there pipeline this. what pre-COVID. different sort was heard versus I and to But – little could maybe goals little how wondering was on on maybe bit, – touch pipeline look the – out can you a ago forgive touch seen whether forward? if attractive going And I you this. may the today bit I’m targets

if versus just overview to you that set going like sort what as of general to opportunity the into could like you year? looks maybe it wondering now give a So what looked

Thomas Brisbin

rather ahead, than It’s – Well, go easier. just Mike.

Mike Bieber

on just COVID. those indicated All and We that all about some Willdan, us. well-developed discussions line, to this right. wanted come suspended I with of of us had even those weren’t they were and types they’ve said, to they to targets pipeline John activity with talking have those. before a we’ve But and the And board. where back now want join enter back into come they sure of a that

quarter We that next and cautiously will do the over slowly two. or

don’t concerns about So don’t gotten in the Maybe certainly in pressures recessionary pipeline better and QX, because economy. QX. But the for has know. transaction not I any look

doing one acquisitions. In addition, else no is any

of have our engaged companies with discussions that we were in sold or during target none period this time. So of

get think better, certainly I pricing hope So when that looks we and acquisitions. back better I it to looks

Marc Riddick

from was where the I that Or is was date? point kind should you perspective. where are end do get that particular certainly targets And necessarily the at of to of we’ve from your to year. the a going. what the of attractive year? priorities or that’s longer-term was you thinking a about also looking think encouraging sense it the sense has to the as standpoint, Not looks of kind have But types you the desirability that’s of what – maybe certainly beginning that from I changed and very encouraging now those do sense that maybe shifted, seen from what that to targets. how of of that wondering Have might from what between or I a has were like vantage Do fairly verticals long-term you’re we that of similar given much How what year types the it you, most things is of at about? perspective.

Mike Bieber

industry integrated, is Tom, becoming you EE the how integrated changing solution why want. more address utilities don’t that and the is how

Thomas Brisbin

and little we’ve load was matched out think we highways. like this build whatever of they bit. I generated kind about just talked there, Historically, a

to We match continue out to highways whatever traffic’s build there.

forward So load, traffic our control instead more manage more on highway. to if there’s that. a just jam, trying the which of the has more of been be they’re trying going to is electricity, a get do users What they’re solution generation, and would and

that takes is shape, as happen. a has So primary that this balance thing to

between generation it it and use the have amount balance We use of and load. and to energy least

carbon headed. you can can optimize is where renewables your what that that then, if the start start reduce everyone And middle And in storage. is use So can of to then footprint. you we’re that, you where happens with is then to headed. And next right

we integrated is engineering does, do step. as And do that to the All the does, EE, Does So are on what approach. as things just that Marc? country’s based EX referred answer that a the first total headed solution your like today, people Mike that’s to. our IA all question, an

Marc Riddick

helpful. certainly That’s

Operator

the At session. comments. I’ll question-and-answer this any to back for our time, our turn speakers call conclude additional or does That final over

Thomas Brisbin

all We shareholder you Thank today appreciate next being you Willdan, and a quarter. we’ll you for of see Yes. participating.

Operator

today, all participation. your Thank That for you everyone. does for call our conference conclude

disconnect. now may You

Willdan (WLDN) 8 Aug 202020 Q2 Earnings call transcript