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AtkinsRealis (ATRLN) Q3 2026 Earnings Report

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MX:ATRLN Q3 2026 EPS Results

Actual EPS
MXN 15.73
Consensus EPS
MXN 14.47
Beat/Miss
Beat by +MXN 1.26
One Year Ago EPS
MXN 14.42

MX:ATRLN Q3 2026 Revenue Results

Actual Revenue
MXN 40.75B
Expected Revenue
MXN 39.55B
Beat/Miss
Beat by +MXN 1.20B
YoY Revenue Growth
+11.06%

Earnings Announcement Details

Quarter
Q3 2026
Date
11/05/2026
Time
Before Open
Conference Call
Thursday, November 5, 2026
MX:ATRLN Upcoming Earnings

AtkinsRealis's next earnings date is estimated for February 26, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

MX:ATRLN Q3 2026 Earnings Call
0:00 / 0:00

Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Nov 05, 2026|% Change Since:0.00%|
Earnings Call Sentiment|Positive

The call was strongly positive overall. Record revenue, adjusted EBITDA and adjusted EPS, improving Engineering Services margins, strong cash generation, nuclear growth, major CANDU opportunities, backlog expansion in several regions and disciplined capital allocation significantly outweighed the challenges. The principal negatives were Middle East conflict-related pressure, the reduced 2026 Engineering Services growth outlook, U.S. transportation funding uncertainty, a nuclear backlog decline tied to project progress, higher taxes and lower IFRS EPS.

Company Guidance

For full year 2026, Engineering Services revenue over 2025 is now expected to organically grow by a low single-digit percentage, while all other financial outlook measures for full year 2026 are maintained; the company continues to expect strong positive cash flows for the fourth quarter and at least $500 million of net cash from operating activities for the full year of 2026, and expects its effective tax rate to be at least as high in the fourth quarter. Management said the underlying Engineering Services business is a 5% to 7% growth business across the globe and that businesses in the U.S., Canada, LatAm and U.K. and Ireland collectively perform in the 5% to 7% range, but said it is not giving guidance today for 2027. Nuclear follow-on awards are expected to take the business through to the end of this decade at a good growth level, with new-build opportunities expected to build very significant revenues into the 30s; management expects the CANDU EC6 product to be regulated by the end of '27, is pushing for an Ontario technology selection by the end of this year or early next year, and hopes to force out a couple of international decisions next year through the course of next year.

  • Record Quarterly Revenue and Profitability GrowthTotal revenue reached a quarterly record high of $3.1 billion, up 10.7% year-over-year and 8.7% organically. Adjusted EBITDA increased 14% to a quarterly record high of $331 million, while adjusted EPS rose 9% year-over-year to $1.20. This marked the third consecutive quarter of sequential improvement in adjusted EBITDA and adjusted EPS.
  • Strong Backlog and Operating Cash FlowTotal backlog was $20.5 billion at quarter-end. Operational efficiencies and sustained demand supported a third consecutive quarter of positive operating cash flow in 2026. Net cash generated from operating activities totaled $228 million for the first nine months, and management continues to expect at least $500 million for full-year 2026.
  • Disciplined Capital Allocation and AcquisitionsThe company deployed $395 million during the quarter, including $236 million to repurchase approximately 2.7 million shares at an average price of approximately $87 and $156 million to complete the TOBIN acquisition in Ireland and WGA in Australia. Year-to-date, it repurchased approximately 6.4 million shares for $561 million, representing about 4% of outstanding shares. Net debt remained well below the 1x to 2x target range.
  • AI Investment and Expanded Growth OpportunitiesAtkinsRéalis is applying AI-enabled processes and capabilities across the business to reduce costs, improve project execution and create more value for customers. The broader AI build-out is creating additional engineering opportunities across power, particularly nuclear, data centers, water and cooling. The company is also continuing its collaboration with NVIDIA on AI compute, data centers, power, cooling and nuclear infrastructure.
  • Engineering Services Delivered Profitable GrowthEngineering Services revenue increased 6%, including 3% organic growth. Excluding AMEA, organic revenue growth was 6%. Segment adjusted EBITDA margin increased 80 basis points to 18%, reflecting continued margin improvement initiatives, and Engineering Services backlog was $13.1 billion.
  • Strong Canadian Performance and Infrastructure PipelineCanada revenue increased 19% organically year-over-year, while segment adjusted EBITDA reached $45 million with an 18% margin. Management cited high-value project focus, cost optimization, disciplined bidding and more efficient project delivery. Demand remained strong in transportation, power and renewables, with activity on the Calgary Green Line, East Harbour Transit Hub and Surrey Langley SkyTrain projects. Management also highlighted 167 proposed Canadian projects and opportunities in transportation, power, industrials, defense, hydro, shipbuilding, submarines, maintenance and housing.
  • U.K. and Ireland Growth and Backlog ExpansionU.K. and Ireland revenue grew 5%, including 3% organic growth. Segment adjusted EBITDA increased to $113 million, representing a 19% margin, while backlog rose 9% year-over-year to $2.1 billion. Backlog growth was driven mainly by wins in rail, aviation and water. The company was also appointed to the Yorkshire Water AMP8 framework, and the TOBIN integration is strengthening its presence in Ireland.
  • Improved U.S. Operating PerformanceU.S. revenue was $565 million, up 5% year-over-year and 2% organically. Segment adjusted EBITDA was $80 million, with an 18.6% margin versus 15.8% in the prior-year period. U.S. backlog increased 6% year-over-year to $1.9 billion. Growth was driven by transportation, power and aviation, and the company secured work supporting Sound Transit through the combined AtkinsRéalis and David Evans teams.
  • AMEA Backlog Growth and Regional DiversificationDespite pressure in the Middle East, AMEA backlog increased 14%. Higher revenue in Asia and Australia helped offset some of the Middle East headwind. The company is building a more diversified AMEA business through acquisitions in Australia and a growing Asian pipeline, including a Hong Kong design and construction consultancy contract for the Northern Metropolis and contracts supporting the Shenzhen Innovation and Technology Park.
  • Nuclear Business Continued Strong GrowthNuclear organic revenue increased 10%, following 60% revenue growth in the third quarter of 2025. Growth was mainly driven by higher volumes from CANDU life-extension projects. Segment adjusted EBIT grew 12% to $74 million, with an adjusted EBIT margin of 11.3% and an adjusted EBITDA margin of 25%, both stated as being within target ranges.
  • Major Pickering CANDU ContractThrough a joint venture with its construction partner, AtkinsRéalis signed a three-year, $1.7 billion contract with Ontario Power Generation to begin refurbishment work on Unit 5 of the Pickering CANDU Nuclear Generating Station.
  • Progress on CANDU Technology and Nuclear PipelineThe company continues to develop the MONARK gigawatt reactor and is pursuing large nuclear opportunities in Canada and internationally. The CANDU EC6 U.S. licensing process is progressing, with pre-application engagement with the U.S. Nuclear Regulatory Commission, a first public NRC meeting held in August and the first of seven planned topical reports submitted. Management expects the product to be regulated by the end of 2027.
  • Indiana CANDU EC6 OpportunityAtkinsRéalis signed an MOU with the State of Indiana and Hoosier Energy to explore a campus of up to eight CANDU EC6 reactors, potentially providing up to 6 gigawatts of nuclear baseload power. The company is working toward identifying a site and establishing a funding framework involving hyperscaler and data-center demand, power purchase agreements, tax incentives and federal support.
  • Strong Financial Cost PerformanceTotal segment adjusted EBIT increased 12%. Corporate SG&A expenses declined 26% year-over-year to $20 million, mainly due to revised estimates on long-term employee incentives. Net financial expenses declined 49% year-over-year to $11 million, mainly due to net foreign exchange gains and lower interest rates than in the third quarter of 2025.
  • Expanded David Evans OwnershipThe company entered into an agreement to purchase the remaining 30% interest in David Evans, after acquiring a majority stake in the first quarter of 2025. Management said the transaction will accelerate collaboration and integration and support larger, more complex infrastructure programs in the U.S.
  • Positive Long-Term U.S. and Canada OutlookManagement stated that the underlying Engineering Services business is a 5% to 7% growth business across the globe, although this was not provided as 2027 guidance. It remains optimistic about long-term U.S. opportunities in transportation and power and described the Canadian market as significant and exciting, with potential for further organic growth and M&A.

MX:ATRLN Earnings History

MX:ATRLN earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Feb 26, 20272026 (Q4)14.05-12.71――
Nov 05, 20262026 (Q3)14.4715.7314.429.09% (+1.31)
Aug 06, 20262026 (Q2)12.0412.7110.4821.25% (+2.23)
May 14, 20262026 (Q1)9.7410.488.2626.98% (+2.23)
Feb 27, 20262025 (Q4)12.5012.717.3473.21% (+5.37)
Nov 13, 20252025 (Q3)11.8914.429.453.42% (+5.02)
Aug 07, 20252025 (Q2)9.3010.486.4263.27% (+4.06)
May 15, 20252025 (Q1)6.788.265.550.00% (+2.75)
Mar 13, 20252024 (Q4)9.747.349.17-20.00% (-1.83)
Nov 14, 20242024 (Q3)8.129.404.9888.68% (+4.42)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat Missed