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WSP reports Q1 2025 results with good backlog growth
Globenewswireยท2025-05-07 21:00

Core Viewpoint - WSP Global Inc. reported strong financial results for the first quarter of 2025, with significant improvements in revenues, earnings, and cash flow compared to the same period in 2024 [1][5]. Financial Performance - Revenues for Q1 2025 reached $4,388.9 million, a 22.4% increase from $3,585.1 million in Q1 2024 [2][8]. - Net revenues were $3,347.3 million, up 19.8% from $2,793.3 million in the previous year [2][8]. - Adjusted EBITDA grew to $533.9 million, reflecting a 19.7% increase from $446.1 million in Q1 2024 [2][8]. - Net earnings attributable to shareholders were $144.1 million, an increase of 13.6% compared to $126.8 million in Q1 2024 [2][8]. - Basic net earnings per share rose to $1.10, up from $1.02 in the same quarter last year [2][8]. Cash Flow and Backlog - Cash inflows from operating activities were $237.8 million, a significant improvement from cash outflows of $10.4 million in Q1 2024 [2][8]. - Free cash inflow for the quarter was $115.9 million, compared to a free cash outflow of $125.2 million in the previous year [2][8]. - The backlog as of March 29, 2025, reached a record $16,599.7 million, up 16.6% from $14,233.7 million a year earlier [2][8]. Operational Efficiency - Days Sales Outstanding (DSO) improved to 70 days from 76 days in the previous year, indicating better collection efficiency [2][8]. - The net debt to adjusted EBITDA ratio remained stable at 1.8, aligning with management's target range of 1.0 to 2.0 [2][8]. Strategic Outlook - The company reiterated its 2025 financial outlook and key related assumptions, emphasizing a focus on operational efficiency and sustainable financial performance [5][8].