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WSP Global Reports Strong Q1 Results, Pauses M&A Plans Amid Economic Uncertainty

The Montreal-based engineering firm posted double-digit growth in profits and revenue while delaying acquisitions due to U.S. policy and trade risks.

Overview

  • WSP Global's net earnings rose 14% to $144.1 million in Q1, compared to $126.8 million a year earlier.
  • Revenue increased 22% year-over-year to $4.39 billion, driven by organic growth and the October acquisition of Power Engineers.
  • The company's project backlog grew 17% to a record $16.60 billion, reflecting robust demand despite U.S. federal spending freezes.
  • Adjusted earnings per share reached $1.76, surpassing analysts' expectations of $1.71.
  • CEO Alexandre L'Heureux confirmed that new acquisitions are on hold due to economic uncertainty and U.S. trade tensions.