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 double-digit growth and a record $20.3 billion backlog.

• Strategic acquisitions in Australia and Ireland, and AI-driven innovation, including collaboration with NVIDIA, are expanding market reach and operational efficiency.

• Maintained a strong balance sheet with $1.1 billion in cash, low debt, and recognition as one of the 2026 World's Most Ethical Companies.

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 grew 12% to $244.5 million; Nuclear segment EBIT up 31%.

• 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: Engineering Services organic revenue growth of 5%-7%, Nuclear revenue expected at ~$2.5 billion.

• Segment Adjusted EBITDA margin guidance at 16.5%-17.5%; Nuclear Adjusted EBITDA margin in the mid-20% range.

• Engineering Services growth to be more weighted to the second half of the year; low-single digit Q2 growth expected due to Middle East headwinds.

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

• 2025-2027 targets: Engineering Services organic revenue CAGR of 5-7%, Segment Adjusted EBITDA margin of 17-18%, net debt/Adjusted EBITDA ratio between 1.0 and 2.0.