WSP Global executives described broad strength across the construction and engineering market during the company’s second-quarter earnings call Aug. 6. CEO Alexandre L’Heureux highlighted power and energy, data centers, advanced manufacturing, nuclear, water, defense and critical minerals.
“The strongest areas of demand we see today are directly linked to long-term-duration investment themes,” he said.
The U.S. is increasingly weighted toward power. Five years ago, transportation and infrastructure generated about 80% of the company’s U.S. revenue, L’Heureux said. Power now accounts for approximately 35% to 40%.
“We continue to see accelerating momentum in the U.S.,” CFO Alain Michaud said during the call.
Asked by an analyst whether any U.S. sectors were dragging on growth, L’Heureux pointed to the timing of awards but rejected the idea of broader deterioration.
“Our other sectors are performing as planned at this point, so we don’t have any disappointments,” he said.
Acquisitions fuel growth
WSP’s acquisitions of POWER Engineers and TRC Companies have expanded its reach among U.S. utilities. Net revenue from the company’s 40 largest global power clients increased 30% year over year, while hard backlog from those clients in the U.S. rose 20%.
“I’m very impressed with the scale of the bids that we’re pursuing right now,” L’Heureux said.
Other construction markets showed similar momentum. Data center revenue grew more than 20% during the first half of 2026, while its sales pipeline expanded approximately 30%.
Water revenue increased 20%, while the water opportunity pipeline surged 61% as communities invested in aging infrastructure, PFAS remediation, water quality mandates and climate resilience. WSP is also supporting 22 prospective U.S. nuclear sites, where its responsibilities include site selection, licensing, design and construction support.
By the numbers
Revenue rose 20% to CA$5.4 billion ($3.9 billion) during the quarter ended June 26, compared with CA$4.5 billion a year earlier, according to WSP’s management discussion and analysis. Backlog climbed 23% to a record CA$20.1 billion from CA$16.3 billion, representing 11.6 months of revenue.
Despite management’s positive outlook, net income fell 12% to CA$246.1 million from CA$279.4 million for the same period a year ago. WSP said higher acquisition and integration expenses, larger unrealized derivative losses and increased amortization and depreciation costs more than offset improved operating performance.
