AtkinsRealis lifted quarterly revenue 11% to a record C$3.11 billion, beating analyst expectations as its nuclear business grew and engineering services expanded in Canada and the U.K. and Ireland. The company lowered its engineering-services growth outlook, citing the Iran war’s impact on operations in the Middle East and other regions.
Net income attributable to shareholders fell to C$133.3 million, or C$0.83 a share, in the third quarter from C$146.7 million, or C$0.88 a share, a year earlier. Adjusted earnings moved in the opposite direction: earnings per share rose to C$1.20, above the C$1.10 expected by analysts polled by FactSet. Adjusted earnings before interest, taxes, depreciation and amortization increased for a third consecutive quarter, reaching C$330.6 million from C$289.2 million.
Chief Executive Officer Ian Edwards said nuclear revenue grew 10% year on year, while engineering services posted strong growth in Canada and the U.K. and Ireland. Operations in Asia, the Middle East and Africa continued to face pressure from the fallout from the Iran war, the company said.
AtkinsRealis now expects organic revenue growth in engineering services to be in the low single-digit percentage range this year, down from its earlier forecast of 5% to 7%. Its other targets announced in late February are unchanged, including expected nuclear revenue of about C$2.5 billion in 2026.
The company’s work backlog stood at C$20.45 billion at the end of September, compared with almost C$21 billion at the same point in 2025. Its nuclear backlog rose to C$3.05 billion from C$2.51 billion. AtkinsRealis was formerly known as SNC-Lavalin.
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