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MarketBeat
Sun, March 1, 2026 astatine 8:16 AM CST 7 min read
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WSP delivered beardown 2025 results with full‑year gross up 13% to CAD 18 billion, nett gross up 15% to CAD 14 billion, adjusted EBITDA rising 17% to CAD 2.5 billion, grounds escaped currency travel of CAD 1.7 billion, and a backlog of CAD 17 billion.
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The institution has deployed astir CAD 7 billion into powerfulness and vigor done acquisitions similar TRC and Power Engineers; pro forma nett debt/EBITDA is ~2.3x aft TRC, with absorption targeting year‑end 2026 leverage astir 1.6–1.7x.
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For 2026 WSP guides net gross CAD 16–17 billion, adjusted EBITDA CAD 3.0–3.18 billion and integrated maturation of 4–7%, portion framing AI arsenic an "augment, not replace" productivity instrumentality and advancing accumulation solutions via a Microsoft partnership.
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WSP Global (TSE:WSP) utilized its fourth-quarter and full-year fiscal 2025 net telephone to item what absorption described arsenic beardown execution against its strategical plan, including integrated growth, borderline expansion, and grounds currency generation. Executives besides spent a important information of the treatment addressing capitalist concerns astir artificial quality (AI) and however the institution expects the exertion to impact its concern model.
President and CEO Alexandre L’Heureux said 2025 marked the extremity of “a twelvemonth of beardown execution,” noting the company’s three-year strategical plan—Pioneering Change for Empowered Growth—and the completion of strategical acquisitions, including Ricardo and TRC. He said fourth-quarter integrated nett gross maturation was 5.9% erstwhile excluding the interaction of little exigency effect services measurement successful the U.S. versus the anterior twelvemonth and revisions to important Canadian projects successful 2024.
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Chief Financial Officer Alain Michaud reported that for the afloat year, revenue accrued 13% to CAD 18 billion and net gross accrued 15% to CAD 14 billion, compared with 2024. He said backlog reached a grounds CAD 17 billion, up 10% implicit the past 12 months.
On profitability, Michaud said adjusted EBITDA successful Q4 was CAD 694 million, up astir 9% year-over-year, and adjusted EBITDA borderline successful the 4th was 18.9% versus 18.7% successful Q4 2024. For the afloat year, adjusted EBITDA totaled CAD 2.5 billion, up 17%, with adjusted EBITDA borderline of 18.3%, which absorption said represents astir 40 ground points of betterment from 2024.
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Michaud added that the institution absorbed rightsizing and restructuring costs successful 2025 that reduced margins by astir 40 ground points, implying underlying borderline enlargement of astir 80 ground points earlier those costs.
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