The WSP Global Inc. logo is seen in this undated handout photo. THE CANADIAN PRESS/HO, WSP Global Inc. *MANDATORY CREDIT*
MONTREAL – WSP Global Inc. is reporting its third-quarter profit and revenue both rose by nearly a quarter compared with a year ago, buoyed by organic growth as well as recent acquisitions.
The engineering company says its net earnings attributable to shareholders grew to $156.2 million or $1.25 per share for the three months ended Sept. 30 compared with $127.5 million or $1.05 per share in the same period a year earlier.
Revenue rose 24 per cent to $3.6 billion in its third quarter from $2.9 billion the year before.
On an adjusted basis, WSP’s profit climbed to $1.98 per share in its most recent quarter compared with $1.59 per share a year earlier.
The result beat analyst expectations for $1.90 per share, according to financial markets data firm Refinitiv.
Chief executive Alexandre L’Heureux also says a seven per cent year-over-year backlog growth to $14.28 billion in the third quarter speaks to continued demand for the Montreal-based firm’s services.
This report by The Canadian Press was first published Nov. 9, 2023.
Companies in this story: (TSX:WSP)
