WSP Global narrowly beat the quarterly EPS estimate. Record backlog and stronger margins point to solid momentum, though project timing varies by region.
WSP Global Inc. (TSX: WSP) reported adjusted earnings of C$3.20 per share for the third quarter of 2026, just above the C$3.19 estimate. That’s a 0.31% beat. The quarter ended September 25, and WSP released its results after markets closed on November 4.
Recent earnings trend
WSP Global Inc
WSP.TO
WSP.TO
WSP Global Inc
WealthAwesomeMarket cap
$26.84B
P/E
28.6x
Div. yield
0.76%
Div. / share
$1.50
52W high
$273.61
52W low
$156.32
1W change
+8.24%
Beta
0.47
Analyst Price Targets
Based on analyst covering WSP · as of Oct 29, 2026
Wall Street analysts forecast WSP stock price to rise 48.7% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$281.79
+48.7% Upside
Previously C$281.93 on Oct 20, 2026
Current Price
C$189.48
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on WSP's historical volatility
30-Day Vol
38.3%
Annualized
90-Day Vol
39.7%
Annualized
Trend (90d)
-19.7%
Annualized drift
90d Mean
C$176.59
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$185.08 | C$162.17 – C$211.23 |
| 60 trading days | C$180.79 | C$149.97 – C$217.94 |
| 90 trading days | C$176.59 | C$140.46 – C$222.02 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 12 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 4 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-04 | 3.2000 | 3.1900 | +0.3% |
| 2026-06-30 | 2026-08-05 | 2.8800 | 2.8200 | +2.1% |
| 2026-03-31 | 2026-05-06 | 2.2100 | 2.0600 | +7.3% |
| 2025-12-31 | 2026-02-25 | 2.6500 | 2.6400 | +0.4% |
| 2025-09-30 | 2025-11-05 | 2.8200 | 2.6500 | +6.4% |
| 2025-06-30 | 2025-08-06 | 2.3500 | 2.2800 | +3.1% |
The EPS beat was small, but other results were stronger: net revenue rose 22.1% year over year, adjusted EBITDA margin improved, and backlog reached a record C$20.3 billion. Still, U.S. projects are taking longer to get underway, and WSP did not provide 2027 guidance.
Investor takeaway: The EPS beat was modest, while the operating results showed more substantial growth. WSP reported 5.1% organic net revenue growth, a 20.5% adjusted EBITDA margin and record backlog. The key near-term question is how quickly U.S. projects move from awards and funding approvals to active work. Canadian investors can review the results alongside the WSP stock page, while keeping reported results separate from analyst targets and model-based forecasts.
C$20.3 billion
WSP’s record backlog grew 23.5% over the past 12 months and equalled 11.6 months of revenue. That gives investors a sense of future work, but backlog doesn’t guarantee revenue. Delays to U.S. funding and project starts show that when work begins matters as much as the size of the order book.
Bull case
WSP’s record C$20.3-billion backlog, up 23.5% in 12 months, gives the company a large base of future work. Organic net revenue grew 5.1%, with double-digit growth in Canada and EMEIA. APAC also posted organic growth for a second straight quarter. Adjusted EBITDA rose 23.4% year over year, and the margin increased 30 basis points to 20.5%. Management said the TRC integration is on track, with its Power & Energy business delivering double-digit net revenue growth so far this year.
Bear case
U.S. project work is taking longer to start as clients wait for funding reviews and notices to proceed. Management expects a gradual, uneven recovery. WSP also held back 2027 guidance, citing uncertainty around U.S. funding approvals and client mobilization. Leverage was 2.2 times at quarter-end, up from 0.9 times at the end of 2025 after the TRC acquisition. APAC margins fell year over year, with foreign exchange and regional mix weighing on results.
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