$WSP.TO

TSX Closer: The Index Posts a Fresh Record Close; Morningstar On Best- and Worst-Performing Canada Stocks

The resources-heavy Toronto Stock Exchange closed at a fresh record high on Tuesday, boosted by higher commodity prices and confidence the equity market fundamentals in place for most of the last two months will continue.The S&P/TSX Composite Index closed up 434.57 points, or 1.25%, to 35,169.46, with most sectors higher. The prior record close of 34,830 was set on May 25.The index was led higher by Base Metals, up 4%, followed by the Battery Metals Index, up 2.7%, and then Energy, up 2.4%. In contrast, Health Care was down 1.2% and Telecom down near 0.75%.According to FactSet the TSX was, going in to today, up 10.91% from its 2026 closing low of 31,317.41 hit Friday, March 20, and year to date up 3,022.13 points or 9.53%.Morningstar Canada published a note entitled 'Best- and Worst-Performing Canadian Stocks' in which it notes The Morningstar Canada Large-Mid Cap Index rose 2.35% in May, amid a rally in the communication-services sector. The index tracks the top 90% of the Canadian investable universe by market cap, and each month, Morningstar screens it for the best- and worst-performing companies.Among the best performing stocks of May 2026, Morningstar cited Capstone Copper (CS.TO), HudBay Minerals (HBM.TO), First Quantum Minerals (FM.TO), Air Canada (AC.TO) and Lundin Mining (LUN.TO).Among the worst performing stocks of May 2026, it cited Stantec (STN.TO), GFL Environmental (GFL.TO), Element Fleet Management (EFN.TO), Energy Fuels (EFR.TO) and WSP Global (WSP.TO).Of commodities, gold was higher late afternoon Tuesday, but fell back from early highs as the dollar rose. Gold for July delivery was last seen up US$11.30 to US$4,517.60 per ounce, after earlier touching $4,571.30.Also, West Texas Intermediate crude oil closed higher, rising off session lows following reports Iran is considering a new U.S. peace deal to end the war, a day after prices surged after the two sides appeared to be on the brink of resuming hostilities. WTI crude oil for July delivery closed up $1.60 to settle at US$93.76 per barrel, after earlier touching US$90.12. August Brent oil was up US$1.01 to US$95.99.

CIBC Cuts WSP Global Target By $10, But Keeps Outperformer

CIBC Capital Markets maintained its outperformer rating on WSP Global (WSP.TO) but decreased its price target to $318 from $328 after the company reported its first quarter financial results on Wednesday.The bank noted that the company delivered a Q1 beat alongside a "record" backlog and increasing confidence in achieving the low end of its 2027 margin target one year earlier."Management reinforced its consistent message that WSP benefits directly from the AI tailwind, with roughly one-third of net revenues in AI-exposed lines (power & energy, data centers, mining, digital), each experiencing elevated growth," said analyst Krista Friesen. At near 11.0 times 2027 consensus EBITDA, WSP continues to trade at a discount to the broader AI power infrastructure value chain, which has materially re-rated, she noted.CIBC has modestly tweaked its estimates having actualized Q1 earnings and to reflect management's Q2 guidance and its updated 2026 outlook. The bank now sees 2026 EBITDA of near $3.14 billion from $3.09 billion expected earlier, and 2027 EBITDA of near $3.50 billion from $3.48 billion. It has also increased its 2026 EBITDA margin expectation to 19.0% from 18.7%, which is the bottom end of the company's margin guidance for 2027.For 2027, CIBC expects EBITDA margin of 19.5%, up from 19.3%.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $218.38, Change: $-5.80, Percent Change: -2.59%

WSP Global Q1 Earnings Rise 30%, Revenue Tops Estimates; Backlog Hits Record Level

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.

GUIDANCE: (WSP.TO) WSP Global Expects Q1 Revs $4,550.7M Vs $4,388.9M a Year Ago; Net Revs $3,709M Vs $3,347.3M