Canada · Delayed Price · Currency is CAD AtkinsRéalis Group Earnings Call Transcripts
Fiscal Year 2025
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Record 2025 results featured 16% organic revenue growth, a $21B backlog, and strong cash flow, driven by engineering and nuclear segments. 2026 guidance calls for 5%-7% organic growth, continued margin expansion, and robust M&A activity, with nuclear revenue targets raised for 2027.
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Q3 2025 saw record revenues, margins, and backlog, driven by strong growth in nuclear and engineering services. The nuclear outlook was raised, while engineering services guidance was trimmed due to temporary USLA and EMEA softness. M&A and backlog growth remain key strategic priorities.
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Q2 saw 15% revenue growth, record $21B backlog, and a surge in nuclear business, offset by project delays in EMEA and US. Capital structure strengthened via asset sales and buybacks, with focus shifting to M&A and organic growth, especially in nuclear and US markets.
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Strong organic revenue growth and record backlog were driven by nuclear and links on segments, with nuclear revenue up 77% year-over-year. Full-year nuclear revenue guidance was raised, and the balance sheet remains robust, supporting ongoing M&A and share buybacks.
Fiscal Year 2024
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Record 2024 results with 12% revenue growth, strong cash flow, and a record $17.5B backlog. Announced $2.8B sale of Highway 407 stake, with proceeds to fund debt reduction, M&A, and share buybacks. 2025 guidance targets 7-9% organic growth and margin expansion.
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Q3 saw double-digit revenue and EBIT growth, record backlog, and strong cash flow, driven by robust demand in engineering and nuclear services. Margin improvement initiatives are on track, with continued investment in growth and M&A, especially in the US. Backlog and cash flow support a positive outlook.
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Q2 2024 saw double-digit revenue and profit growth, record backlog, and strong performance across all regions and segments, especially nuclear. Guidance for nuclear revenue growth was raised, with continued focus on margin improvement, operational efficiency, and strategic M&A.
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Revised summary: The company has become a focused Engineering Services and Nuclear business, targeting >8% organic growth and 200-300 bps margin expansion by 2027. Regional strategies stress sustainability, talent, and excellence, while the nuclear segment leverages CANDU rights and a strong project pipeline. Capital will prioritize growth, M&A, and shareholder returns.