WSP Global’s third-quarter adjusted EPS came in just above estimates. But record backlog and wider margins offer a stronger sign of the engineering firm’s momentum.
WSP Global Inc. (TSX: WSP) reported adjusted earnings per share of C$3.20 for the quarter ended September 25, 2026, slightly above the C$3.19 estimate. That’s a 0.31% beat. Net revenue grew 22.1%, backlog reached a record C$20.3 billion, and the adjusted EBITDA margin was 20.5%. Still, U.S. project conversions remain slower than expected, and WSP has not issued 2027 guidance.
Recent earnings trend
WSP Global Inc
WSP.TO
WSP.TO
WSP Global Inc
WealthAwesomeMarket cap
$24.93B
P/E
25.8x
Div. yield
0.83%
Div. / share
$1.50
52W high
$273.61
52W low
$156.32
1W change
-5.90%
Beta
0.47
Analyst Price Targets
Based on analyst covering WSP · as of Nov 10, 2026
Wall Street analysts forecast WSP stock price to rise 48.4% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$274.43
+48.4% Upside
Previously C$281.79 on Oct 29, 2026
Current Price
C$184.94
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
39.8%
Annualized
90-Day Vol
40.5%
Annualized
Trend (90d)
-22.8%
Annualized drift
90d Mean
C$170.45
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$179.98 | C$156.91 – C$206.44 |
| 60 trading days | C$175.15 | C$144.26 – C$212.65 |
| 90 trading days | C$170.45 | C$134.40 – C$216.17 |
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 |
|---|---|---|---|---|
| 2026-12-31 | 2027-02-24 | — | 3.0700 | — |
| 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% |
Investor takeaway: The EPS beat was small, but revenue growth, wider margins and record backlog point to solid demand. Investors should also consider slower U.S. project starts, higher debt following the TRC acquisition and the lack of 2027 guidance. For more company details, see the WSP Global stock page.
C$20.3 billion
WSP’s record backlog grew 23.5% over the past 12 months and represents about 11.6 months of revenue. That gives the company a substantial base of contracted work, even as U.S. project starts face delays.
Bull case
Net revenue grew 22.1%, including 5.1% organic growth. The adjusted EBITDA margin rose 30 basis points from a year earlier to 20.5%, and backlog reached a record C$20.3 billion, giving WSP strong visibility into future work. Canada and EMEIA posted double-digit organic growth, while the Power & Energy business continued to expand.
Bear case
U.S. projects are taking longer to move forward as clients wait for funding and notice-to-proceed approvals. Management expects a gradual, uneven recovery. WSP’s leverage ratio also rose to 2.2 times from 0.9 times at the end of 2025, and the company did not provide 2027 guidance. With only a small EPS beat, delays or weaker margins could weigh on results.
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