AtkinsRéalis Group (ATRL) Q1 2026 earnings summary

Executive summary

• Q1 2026 delivered 18% year-over-year revenue growth to $3.0 billion, with adjusted EBITDA up 18% and adjusted EPS up 27%.

• Net income attributable to shareholders increased 34% to $92.8 million, and diluted EPS rose 44% to $0.56.

• Robust demand in Nuclear and Engineering Services drove record nuclear revenues and a $20.3 billion backlog.

• Strategic acquisitions in Australia and Ireland, and collaboration with NVIDIA on nuclear-powered AI factories, support expansion in high-growth markets.

• Maintained strong financial flexibility with $1.1 billion in cash and a net debt/Adjusted EBITDA ratio of -0.4.

Financial highlights

• Total revenue reached $2,997.8 million, up 18% year-over-year, with Engineering Services up 12% and Nuclear up 37%.

• Segment adjusted EBIT increased 12% to $244.5 million, driven mainly by a 31% rise in the nuclear segment.

• Adjusted EBITDA reached $254 million, up 18%, and adjusted diluted EPS rose 27% to $0.80.

• Net cash from operating activities more than doubled to $97 million.

• $87 million returned to shareholders via buybacks and $39 million via dividends in Q1 2026.

Outlook and guidance

• 2026 outlook maintained: Nuclear revenue target of ~$2.5 billion, Engineering Services organic growth of 5%-7%, and Segment Adjusted EBITDA margin of 16.5%-17.5%.

• Growth in Engineering Services expected to be weighted to the second half of the year, with margins improving sequentially.

• Effective tax rate projected at 25%-30% for the full year.

• Net cash from operating activities targeted at ~$500 million for 2026.