AtkinsRéalis Group (ATRL) Q2 2026 earnings summary

Executive summary

• Achieved Q2 2026 revenue of $3.0 billion, up 10% year-over-year, with adjusted EBITDA up 14% to $293 million and adjusted EPS rising 20% to $0.97.

• Engineering Services backlog reached a record $13.4 billion, with total backlog at $20.2 billion; nuclear segment revenue grew 18% and outlook for 2026 was raised.

• Returned $245 million to shareholders via share repurchases and dividends; completed acquisitions in Australia and Ireland to strengthen presence and capabilities.

• Significant momentum in nuclear, supported by Canada's Nuclear Energy Strategy and formal licensing of CANDU technology in the U.S.; continued collaboration with Nvidia on nuclear-powered AI factories.

• Ongoing investment in AI to enhance project delivery, safety, and innovation across global operations; two technology leaders joined the Board.

Financial highlights

• Total revenue for Q2 2026 was $3.0 billion, up 10% year-over-year; organic revenue growth was 8.3%.

• Adjusted EBITDA reached $293 million, up 14% year-over-year; adjusted EPS increased to $0.97 from $0.81.

• Segment adjusted EBIT rose 10%, with Engineering Services up 12% and Nuclear up 21%.

• Net cash from operating activities was $84 million for the quarter; cash and equivalents totaled $833 million at quarter-end.

• Backlog as of June 30, 2026, was $20.2 billion, with Engineering Services Regions at a record high.

Outlook and guidance

• Raised 2026 nuclear revenue outlook to approximately $2.7 billion (from $2.5 billion); all other 2026 financial outlook metrics remain unchanged.

• Engineering Services Regions organic growth expected toward the lower end of the 5% range due to Middle East conflict; 2027 nuclear revenue guidance remains $2.6–3 billion.

• Segment Adjusted EBITDA margin for Engineering Services Regions projected at 16.5–17.5%; Nuclear at mid-20%.

• Net cash from operating activities forecasted at ~$500 million for 2026; effective tax rate expected between 25–30%.