Q: WSP global recently reported earnings. Your thoughts on their recent quarter. Thanks.
Robert
Robert
5i Research Answer:
EPS of $1.56 beat estimates of $1.52 and sales of $2.74B beat estimates of $2.6B. Sales grew by 31% year-over-year, and net revenue grew by 29.8%, with organic growth at 9.3%. Its Adjusted EBITDA margin expanded from 16.7% in the prior year to 16.9%, and management raised its guidance for FY2023 from $10.0B to $10.6B net revenues to $10.7B to $11.0B, adjusted EBITDA to $1.9B to $1.93B from a previous $1.76B and $1.84B, and organic growth now at 6% to 9% vs. a previous 3% to 6%. These were strong results, management is pleased with its continued momentum and record-high backlog, and overall the market is reacting well to these results.