Q: Can you comment on results from both WSP and TOI after calls (not sure if TOI has a call). Were there any surprises good or bad? Looking forward, where do you see each 6 months out?
5i Research Answer:
We have posted TOI comments; there is no conference call. On the WSP call, the tone was positive. Management discussed their $7B capital deployment into growth initiatives. Margin improvements continue (60bps) and organic growth continues to look good. Nothing overly dramatic was revealed, however.
WSP EPS of $2.65 beat estimates of $2.61; revenue of $3.67B beat estimates of $3.63B. EBITDA of $694M matched. Income rose 15% but sales only 4%. 2026 sales forecast is solid at $16b to $17B, with 4%+ organic growth. Backlog is $17B.