WSP publishes Q1 2026 MD&A for three months ended March 27, 2026

  • WSP Global Inc. published its Q1 2026 MD&A, highlighting completion of TRC acquisition on Feb. 24 for total cash purchase price of USD 3.4 billion (CAD 4.6 billion), including repayment of USD 1 billion (CAD 1.4 billion) of long-term debt.
  • Net revenues rose to CAD 3.71 billion from CAD 3.35 billion, driven by 3.1% organic growth and 9% acquisition growth; revenues increased to CAD 4.55 billion from CAD 4.39 billion.
  • Adjusted EBITDA increased to CAD 622.2 million from CAD 533.9 million; adjusted EBITDA margin improved to 16.8% from 16%.
  • Backlog climbed to record CAD 19.75 billion from CAD 16.6 billion; leverage ratio rose to 2.3x from 0.9x at Dec. 31, reflecting long-term debt issued to finance TRC.
  • Quarterly dividend declared at CAD 0.375 per share; free cash flow was negative CAD 29 million versus positive CAD 115.9 million a year earlier.


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