-- WSP Global (WSP.TO) after trade on Wednesday said its first-quarter revenue and profit rose year-over-year, both beating expectations.
The company said its adjusted net earnings, excluding most one-time items, jumped 30% year-over-year to C$297.7 million, or $2.21 per share, up from $229.1 million, or $1.76 per share, in the year-ago quarter. FactSet expected $2.06 per share.
Revenue rose 3.7% to $4.55 billion from $4.39 billion a year prior. FactSet projected $3.68 billion.
WSP said its backlog as of March 27 reached a new record of $19.7 billion, up 19% over a year, representing 11.5 months of revenue. While its adjusted EBITDA in the quarter grew to $622.2 million, compared to $533.9 million in the first quarter of 2025, an increase of 16.5%.
For 2026, the company forecasts net revenue between $16 billion and $17 billion, up from $13.96 billion in 2025.
The board of directors of WSP declared a dividend of $0.375 per share, payable on or about July 15 to shareholders of record at the close of business on June 30.
"Our backlog and pipeline remain very active, underscoring the strength of our globally diversified platform. We were also pleased to close the acquisition of TRC, a highly strategic and timely milestone in a high-growth area, with integration progressing as planned. Looking ahead, we are excited by market opportunities and remain focused on value creation," said chief executive Alexandre L'Heureux.
WSP shares closed down $3.87 to $225.72 on the Toronto Stock Exchange.