WSP Strong Performance Sustained in Q2 2018 With Continued Solid Organic Growth [Canadian Business Journal (Canada)]
Canadian Imperial Bank of Commerce (CM)
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Source: Canadian Business Journal
WSP Strong Performance Sustained in Q2 2018 With Continued Solid Organic Growth MONTREAL, Aug. 08, 2018 (GLOBE NEWSWIRE) — WSP Global Inc. (TSX: WSP) (“WSP” or the “Corporation”) today announced its financial and operating results for the second quarter of fiscal 2018, which ended on June 30, 2018. SECOND QUARTER 2018 FINANCIAL HIGHLIGHTS WSP reports robust Q2 2018 results with key financial metrics slightly ahead of Management’s expectations. Revenues and net revenues of $2,025.9 million and $1,541.1 million, up 18.0% and 17.1%, respectively, compared to Q2 2017. Consolidated organic growth in net revenues of 8.7% for the quarter, spanning across all reportable segments and slightly ahead of Management’s expectations. Adjusted EBITDA of $169.5 million, up $29.2 million, or 20.8%, compared to Q2 2017. Adjusted EBITDA margin at 11.0%, compared to 10.7% in Q2 2017. Adjusted net earnings of $81.2 million, or $0.78 per share, up 24.0% and 21.9%
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