WSP Q3 profit up 17% to $333.7M, backlog hits $20.3B

WSP Global Inc. (TSX:WSP) reported third-quarter net earnings attributable to shareholders of $333.7 million, or $2.48 per share, up from $284.5 million, or $2.18 per share, a year earlier. The Montreal-based engineering firm also said its backlog reached a record $20.3 billion as of Sept. 25, the Canadian Press reported.

Revenue rose to $5.29 billion from $4.53 billion in the same quarter last year. By our calculation from those reported figures, revenue grew about 16.8 per cent, net earnings about 17.3 per cent and earnings per share about 13.8 per cent. The backlog was up 23.5 per cent from a year earlier.

Chief executive Alexandre L’Heureux said the company was pleased with its results as it saw organic growth and a record backlog, according to the Canadian Press. Figures are in Canadian dollars, as reported by the company and relayed by the Canadian Press. The Canadian Press did not say whether the profit figure is adjusted.

Last month, WSP said it signed a deal to buy GCM Corpo Inc., a Canadian engineering consulting firm focused on the energy and industrial sectors. WSP shares trade on the Toronto Stock Exchange. See our TSX preview for Thursday and Wednesday’s market close.

If you find reporting like this useful, consider supporting Canada News Media, an independent Canadian newsroom with no corporate parent.

This article is for information only and is not investment advice. Speak to a licensed adviser before making investment decisions.