Canada · Delayed Price · Currency is CAD WSP Global Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 delivered record results with 23% net revenue growth, 29% adjusted EBITDA increase, and a record CAD 20.1 billion backlog. All segments contributed to organic growth, margins expanded to 19.1%, and guidance for 2026 was raised, reflecting strong momentum and successful integration of acquisitions.
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The meeting highlighted strong financial results, strategic acquisitions, and the launch of a new three-year action plan. Board updates, a focus on sustainability, and an improved organic growth outlook were discussed, with management addressing shareholder questions on M&A, AI, and geographic expansion.
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Net revenue grew 11% year-over-year with strong organic growth, record backlog, and robust cash flow. Adjusted EBITDA rose 16.5%, and margin improved to 16.8%. Power, energy, and digital sectors led growth, with M&A and technology investments driving future performance.
Fiscal Year 2025
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Strong 2025 results featured double-digit revenue and EBITDA growth, record free cash flow, and margin expansion. Strategic acquisitions and robust backlogs position all regions for continued growth in 2026, with AI and digital partnerships driving innovation and efficiency.
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The acquisition of TRC for $3.3 billion will create the largest and most diversified engineering and design firm in the U.S., accelerating growth in Power & Energy and related sectors. The deal is expected to close in Q1 2026, with significant cost synergies and immediate earnings accretion.
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Net revenues, adjusted EBITDA, and net earnings grew strongly year-over-year, with record margins and robust free cash flow. The Ricardo acquisition and POWER Engineers integration drove segment and margin expansion, while backlog and pipeline remain healthy despite market uncertainties.
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Q2 2025 saw strong revenue, margin, and cash flow growth, with robust performance in North America and the U.K. Strategic acquisitions and digital initiatives are driving future growth, while APAC is stabilizing after rightsizing. Backlog and free cash flow reached record levels.
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The meeting highlighted record financial results for 2024, successful completion of the strategic plan, and ambitious new targets for 2027. All shareholder proposals were adopted, including board elections and auditor appointment. Key risks such as global uncertainties and potential tariffs were discussed, with management expressing confidence in resilience.
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Q1 2025 saw revenues and EBITDA exceed expectations, driven by strong organic growth in North America and successful integration of POWER Engineers. Backlog reached a record CAD 16.6 billion, free cash flow improved significantly, and the company reaffirmed its 2025 outlook, with margin improvement and robust growth anticipated.
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The three-year plan targets $17B revenue by 2027, 20% EBITDA margin, and 70% free cash flow growth, driven by digital transformation, sector expansion, and a strategic Microsoft partnership. The company aims to double digital services growth, expand advisory and PPM, and maintain aggressive M&A in fragmented markets.
Fiscal Year 2024
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Q4 and full-year results exceeded expectations with double-digit revenue and earnings growth, strong cash flow, and a record backlog. Strategic acquisitions, notably POWER Engineers, contributed to robust performance, and ambitious 2027 growth targets were set.
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Q3 2024 saw double-digit revenue and EBITDA growth, record backlog, and strong cash flow, driven by robust performance in the Americas and Canada. The POWER Engineers acquisition is integrating well, supporting sector leadership and future growth, with raised guidance for 2024.
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The acquisition of POWER Engineers for $1.78 billion will significantly expand the company's U.S. presence and expertise in the power and energy sector, delivering immediate EPS accretion and at least $25 million in annual cost synergies. The deal is expected to close in Q4 2024, with strong shareholder and board support.
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Q2 2024 saw robust organic growth and profitability, leading to an increased financial outlook for the year. Strong performance in the Americas, strategic acquisitions, and record backlog underpin confidence for continued margin and cash flow improvement.