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. raised its financial outlook as it said its looking to grow its business across its core markets.
WSP chief executive Alexandre L’Heureux told a conference call with financial analysts to discuss the company’s latest results that it continues to build on the momentum from the first half of the year in addition to closing “significant transactions.”
Since June, the engineering firm has closed six acquisitions including the environment and infrastructure business of John Wood Group.
The company says it now expects its net revenue to be between $8.80 billion and $8.90 billion, up from earlier expectations for between $8.25 billion and $8.75 billion. Its adjusted earnings before interest, taxes, depreciation and amortization are now expected to be between $1.51 billion and $1.53 billion, up from between $1.43 billion and $1.49 billion.
In its latest quarter, WSP reported net earnings attributable to shareholders of $127.5 million or $1.05 per share on $2.89 billion in revenue compared with a profit of $139.0 million or $1.18 per share on $2.65 billion in revenue a year earlier.
On an adjusted basis, WSP says it earned $193.4 million or $1.59 per share in its latest quarter, up from an adjusted profit of $179.7 million or $1.53 per share in the same quarter last year.
This report by The Canadian Press was first published Nov. 10, 2022.
Companies in this story: (TSX:WSP)
