Canada's WSP Global Q1 revenue tops estimates, helped by TRC, Ricardo acquisitions

WSP Global

06/05/2026 22:11

Overview

Canada engineering consultancy's Q1 revenue rose 3.7%, beating analyst expectations

Adjusted EPS grew 26% and beat analyst expectations

Adjusted EBITDA rose 16.5%, beating estimates, with margin up to 16.8%

Outlook

WSP Global still expects 2026 net revenues between C$16.0 bln and C$17.0 bln

Company sees 2026 adjusted EBITDA between C$3.05 bln and C$3.18 bln

WSP Global expects Q2 net revenues between C$4.1 bln and C$4.3 bln

Result Drivers

ACQUISITIONS - Net revenue acquisition growth of 9% was mainly driven by the acquisitions of TRC and Ricardo

PRODUCTIVITY GAINS - Adjusted EBITDA margin increased 80 bps to 16.8%, mainly due to improved productivity

ORGANIC GROWTH - Net revenue organic growth stood at 5% when normalized for fewer billable days than in the comparable period in 2025

Company press release: ID:nGNX6Vq74H

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
C$4.55 bln
C$3.68 bln (10 Analysts)
Q1 Adjusted EPS
Beat
C$2.21
C$2.07 (11 Analysts)
Q1 Adjusted Net Income
Beat
C$297.70 mln
C$284.30 mln (4 Analysts)
Q1 Net Income
C$144.10 mln
Q1 Adjusted EBITDA
Beat
C$622.20 mln
C$606.44 mln (11 Analysts)
Q1 Adjusted EBITDA Margin
16.80%
Q1 Basic EPS
C$1.07


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the construction & engineering peer group is "buy"

Wall Street's median 12-month price target for WSP Global Inc is C$325.50, about 41.8% above its May 5 closing price of C$229.59

The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 23 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)