AtkinsRéalis Reports Third Quarter 2026 Results

• Quarterly record high revenue of $3.1 billion, up 11%, and Segment Adjusted EBIT up 12% over Q3 2025
• Quarterly record high Adjusted EBITDA⁽¹⁾ of $331 million, up 14% over Q3 2025
• Diluted EPS of $0.83 and Adjusted diluted EPS⁽¹⁾⁽⁵⁾ of $1.20, up 9% over Q3 2025
• Net cash generated from operating activities of $47 million
• Revised 2026 Engineering Services Regions organic revenue growth outlook

MONTREAL, Nov. 5, 2026 /CNW/ -- AtkinsRéalis Group Inc. (TSX: ATRL), a world-class engineering services and nuclear company with offices around the world, today announced its financial results for the third quarter ended September 30, 2026.

AtkinsRéalis reported strong third quarter results highlighted by year-over-year increases in revenue, Adjusted EBITDA and Adjusted diluted EPS. Notably, the Company has grown Adjusted EBITDA and Adjusted diluted EPS sequentially in each quarter of 2026. Demand for the Company's end-to-end Engineering Services and Nuclear capabilities continues to expand as noted by its $20 billion backlog at September 30, 2026. AtkinsRéalis continues to utilize its consistent positive cash flow and low debt profile to create value for shareholders through its capital allocation strategy focused on investing for growth, both organically and through acquisitions, and through share buybacks.

"We continue to deliver strong results across the Company, as this marks the third consecutive quarter of sequential Adjusted EBITDA and Adjusted diluted EPS improvement," said Ian L. Edwards, President and Chief Executive Officer of AtkinsRéalis. "Nuclear continued its robust performance, achieving 10% revenue growth year-on-year. Engineering Services Regions delivered strong growth, particularly in Canada and the U.K. & Ireland, with higher revenue and enhanced margins, while AMEA performance in the quarter continued to be impacted by the ongoing conflict in the Middle East."

"AI-enabled processes and capabilities are driving better outcomes for our clients, improving project execution, and helping us pursue larger, more integrated mandates. We are already applying these capabilities across areas such as water investment and power infrastructure planning, while the growing need for AI infrastructure is driving significant demand for reliable, large-scale power generation. This creates substantial opportunities for our CANDU® technology and our ability to service the entire lifecycle of a nuclear reactor. While the broader AI buildout is also creating additional opportunities across data centers, water and cooling. At the same time, our positive cash flow and low leverage provide significant financial flexibility to execute our value-focused capital allocation strategy, including continued share repurchases and recent acquisitions in Australia, which will build a more balanced AMEA business as we enter 2027. I want to thank our 43,000 colleagues around the world for their continued hard work and dedication as we work together to engineer a better future for our planet and its people." 

Q3 2026 Financial Highlights

(All results reflect comparisons to prior-year period of Q3 2025)
(Engineering Services Regions is comprised of the following reportable segments: Canada, United Kingdom & Ireland ("UKI"), United States & Latin America ("USLA") and Asia, Middle East & Australia ("AMEA"))

• Revenue totaled a quarterly record high of $3.1 billion, an increase of 10.7%, or 8.7% on an organic revenue growth⁽¹⁾⁽³⁾ basis
  • Engineering Services Regions revenue⁽²⁾ totaled a quarterly record high of $2.1 billion, an increase of 6.1%, or 3.2% on an organic revenue growth⁽¹⁾⁽³⁾ basis, with increases in all segments, except AMEA, for which the Middle East region was mainly affected by the ongoing conflict. Excluding the AMEA segment, organic revenue growth⁽¹⁾⁽³⁾ across Engineering Services Regions was 6.4%
  • Nuclear revenue totaled $658.2 million, an increase of 10.3%, or 10.2% on an organic revenue growth⁽¹⁾⁽³⁾ basis

• Segment Adjusted EBIT increased by 11.9% to $301.1 million
  • Segment Adjusted EBIT for Engineering Services Regions⁽²⁾ increased by 11.7% to $224.0 million, with increases in all segments, except AMEA, for which the Middle East region was mainly affected by the ongoing conflict. Segment Adjusted EBIT to segment revenue ratio was 10.9% and Segment Adjusted EBITDA to segment net revenue ratio⁽¹⁾⁽⁴⁾ was 18.0%, an increase of 80 basis points
  • Segment Adjusted EBIT for Nuclear increased by 12.2% to $74.1 million, representing a Segment Adjusted EBIT to segment revenue ratio of 11.3% and a Segment Adjusted EBITDA to segment net revenue ratio⁽¹⁾⁽⁴⁾ of 25.0%
  • Segment Adjusted EBIT for All other segments was $3.1 million
• Adjusted EBITDA⁽¹⁾ increased by 14.3% to a quarterly record high of $330.6 million, representing a quarterly record Adjusted EBITDA to revenue ratio⁽¹⁾⁽⁶⁾ of 10.6%, an increase of 30 basis points

• Net income attributable to AtkinsRéalis shareholders totaled $133.3 million, or $0.83 per diluted share, compared to $146.7 million, or $0.88 per diluted share in Q3 2025
• Adjusted net income attributable to AtkinsRéalis shareholders⁽¹⁾ increased to $192.8 million, or $1.20 per diluted share, compared to $182.4 million, or $1.10 per diluted share in Q3 2025, representing an increase of 9.1% in Adjusted diluted EPS

• Backlog totaled $20.5 billion as at September 30, 2026

• The Company returned a total of $238.9 million to shareholders through share repurchases and dividends in Q3 2026 ($571.2 million year-to-date)
• Net cash generated from operating activities was $47.1 million
• Cash and cash equivalents as at September 30, 2026 totaled $910.0 million

2026 Outlook (Revised)

The Company is revising its Engineering Services Regions 2026 organic revenue growth⁽¹⁾⁽³⁾ outlook over 2025 to a low single digit percentage, from the previous expectation of between 5% and 7%, reflecting lower than expected revenue growth in the Middle East, mainly due to the ongoing conflict.

All other financial outlook metrics for full year 2026, issued on February 27, 2026, in the Q4 2025 press release, and as updated on August 6, 2026, in the Q2 2026 press release, are maintained.

Third Quarter Financial Results

Net income attributable to AtkinsRéalis shareholders in the third quarter of 2026 totaled $133.3 million, compared to $146.7 million in Q3 2025. The decrease was mainly due to a higher income tax expense and higher acquisition-related & integration costs, partially offset by higher Segment Adjusted EBIT and lower net financial expenses.

Financial Highlights

Quarterly Dividend

The Board of Directors today declared a cash dividend of $0.02 per share, unchanged from the previous quarter. The dividend is payable on December 3, 2026 to shareholders of record on November 19, 2026. This dividend is an "eligible dividend" for Canadian federal and provincial income tax purposes.

Third Quarter 2026 Conference Call / Webcast

AtkinsRéalis will hold a webcast and conference call today at 9:00 a.m. (Eastern Time) to discuss and present its third quarter financial results. The live webcast of the conference call can be accessed through a link posted on the Company's website at www.atkinsrealis.com/en/investors or using this link. To participate in the conference call, please pre-register using this link. Registrants will receive a confirmation email with dial-in details and a unique access code required to join the live call.

A recording of the webcast and a transcript of the conference call will be available on the Company's website within 24 hours following the call.

About AtkinsRéalis

Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital advisory services. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services and Nuclear, as the steward of CANDU® nuclear technology. News and information are available at www.atkinsrealis.com or follow us on LinkedIn.

Non-IFRS Financial Measures and Ratios, Supplementary Financial Measures, Total of Segments Measures and Non-Financial Information

The Company reports its financial results in accordance with IFRS^® Accounting Standards ("IFRS"). However, the following non‑IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information are used by the Company in this press release: Organic revenue growth (contraction), EBITDA, Adjusted EBITDA, Segment Adjusted EBITDA, Adjusted net income (loss) attributable to AtkinsRéalis shareholders, Adjusted diluted EPS, Segment Adjusted EBITDA to segment net revenue ratio, Adjusted EBITDA to revenue ratio and Segment net revenue, as well as certain measures for various reportable segments that are grouped together, such as Revenue, Segment Adjusted EBIT and Backlog for the various Engineering Services Regions segments. Additional details for these non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information can be found below and in Sections 4 and 9 of the Company's Management Discussion & Analysis ("MD&A") for the third quarter of 2026, which sections are incorporated by reference into this press release, filed with the securities regulatory authorities in Canada, available on SEDAR+ at www.sedarplus.com and on the Company's website at www.atkinsrealis.com under the "Investors" section.

Non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information do not have any standardized meaning under IFRS and other issuers may define these measures differently and, accordingly, they may not be comparable to similar measures prepared by other issuers. Such non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information have limitations and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

However, management believes that, in addition to conventional measures prepared in accordance with IFRS, these non-IFRS financial measures and ratios, supplementary financial measures, total of segments measures and non-financial information provide additional insight into the Company's operating performance and financial position, and certain investors may use this information to evaluate the Company's performance from period to period. Reconciliations and calculations of non-IFRS measures and ratios, supplementary financial measures, total of segments measures and non-financial information to the most comparable IFRS measures and ratios are set forth below in the section "Reconciliations and Calculations" of this press release.

Reconciliations and Calculations

Reconciliation of Adjusted net income attributable to AtkinsRéalis shareholders to IFRS net income attributable to AtkinsRéalis shareholders

Reconciliation of EBITDA and Adjusted EBITDA to IFRS net income and calculation of Adjusted EBITDA to revenue ratio

Components of Engineering Services Regions

Reconciliation of Segment Adjusted EBIT to Segment Adjusted EBITDA for Engineering Services Regions and Nuclear

Calculation of Segment net revenue and Segment Adjusted EBITDA to segment net revenue ratios for Engineering Services Regions and Nuclear

Calculation of organic revenue growth (contraction)

Forward-Looking Statements

References in this press release, and hereafter, to the "Company", "AtkinsRéalis", "we", "us" and "our" mean, as the context may require, AtkinsRéalis Group Inc. and all or some of its subsidiaries or joint arrangements or associates, AtkinsRéalis Group Inc. or one or more of its subsidiaries or joint arrangements or associates.

Statements made in this press release that describe the Company's or management's budgets, estimates, expectations, forecasts, objectives, predictions, projections of the future or strategies may be "forward-looking statements", which can be identified by the use of the conditional or forward-looking terminology such as "aims", "anticipates", "assumes", "believes", "cost savings", "estimates", "expects", "forecasts", "goal", "intends", "likely", "may", "objective", "outlook", "plans", "projects", "should", "synergies", "target", "vision", "will", or the negative thereof or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. Forward-looking statements in this press release include statements relating to the Company's future economic performance and financial condition. Forward-looking statements also include statements relating to the following: i) future capital expenditures, revenue, expenses, earnings, economic performance, indebtedness, financial condition, losses, project or contract-specific cost reforecasts and claims provisions, future prospects, and potential future significant contract opportunities, including those in the Nuclear segment; and ii) business and management strategies and the expansion and growth of the Company's operations. All such forward-looking statements are made pursuant to the "safe-harbour" provisions of applicable Canadian securities laws. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions and/or results could differ materially from those expressed or implied in such forward-looking statements, or could affect the extent to which a particular projection materializes. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.

Forward-looking statements made in this press release are based on a number of assumptions believed by the Company to be reasonable as at the date hereof. The assumptions are set out throughout the Company's 2025 Annual MD&A (particularly in the sections entitled "Critical Accounting Judgements and Key Sources of Estimation Uncertainty" and "How We Analyze and Report Our Results"). If these assumptions are inaccurate, the Company's actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important risk factors could cause the Company's assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. These risks include, but are not limited to, matters relating to: (a) contract awards and timing; (b) contract liability and execution risk; (c) backlog and contracts with termination for convenience provisions; (d) competition; (e) qualified personnel; (f) international operations; (g) risks relating to the Company's Nuclear segment; (h) research and development activities and related investments; (i) acquisition and integration of businesses; (j) divestitures and the sale of significant assets; (k) dependence on third parties; (l) supply chain disruptions; (m) joint arrangements and partnerships; (n) cybersecurity, information systems and data and compliance with privacy legislation; (o) Artificial Intelligence ("AI") and other innovative technologies; (p) being a provider of services to government agencies; (q) strategic direction; (r) professional liability or liability for faulty services; (s) monetary damages and penalties in connection with professional and engineering reports and opinions; (t) gaps in insurance coverage; (u) health and safety; (v) work stoppages, union negotiations and other labour matters; (w) epidemics, pandemics and other health crises; (x) global climate change, extreme weather conditions and the impact of natural or other disasters; (y) Environmental, Social and Governance ("ESG"); (z) intellectual property; (aa) ownership interests in investments; (bb) Lump-sum turnkey ("LSTK") contracts; (cc) liquidity and financial position; (dd) indebtedness; (ee) impact of operating results and level of indebtedness on financial situation; (ff) dependence on subsidiaries to help repay indebtedness; (gg) dividends; (hh) post-employment benefit obligations, including pension-related obligations; (ii) working capital requirements; (jj) collection from customers; (kk) impairment of goodwill and other non-current intangible and tangible assets; (ll) the impact on the Company of legal and regulatory proceedings, investigations and dispute settlements; (mm) employee, agent or partner misconduct or failure to comply with anti-corruption and other government laws and regulations; (nn) reputation of the Company; (oo) inherent limitations to the Company's control framework; (pp) regulatory framework; (qq) global economic conditions; (rr) inflation; (ss) fluctuations in commodity prices; and (tt) income taxes.

The Company cautions that the foregoing list of factors is not exhaustive. For more information on risks and uncertainties, and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the sections "Risks and Uncertainties", "How We Analyze and Report Our Results" and "Critical Accounting Judgements and Key Sources of Estimation Uncertainty" in the Company's 2025 Annual MD&A, and as may be updated from time to time in the Company's 2026 interim quarterly MD&A filed with the securities regulatory authorities in Canada, available on SEDAR+ at www.sedarplus.com and on the Company's website at www.atkinsrealis.com under the "Investors" section.

The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any written or oral forward-looking information or statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.

For More Information:

The Company's unaudited interim condensed consolidated financial statements for the three-month and nine-month periods ended September 30, 2026 and 2025, together with its Management's Discussion and Analysis for the corresponding periods, can be accessed on the Company's website at www.atkinsrealis.com and on www.sedarplus.com.

SOURCE AtkinsRéalis

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2026/05/c4475.html