SNC-Lavalin ( (SNCAF) ) has released its Q3 earnings. Here is a breakdown of the information SNC-Lavalin presented to its investors.
AtkinsRéalis Group Inc., a global engineering services and nuclear company, is dedicated to creating sustainable solutions that connect people, data, and technology to transform infrastructure and energy systems. The company offers end-to-end services across various sectors, with a strong focus on engineering and nuclear services.
In its latest earnings report for the third quarter of 2024, AtkinsRéalis reported robust financial performance, driven by sustained demand for engineering services and favorable conditions in the nuclear market. The company highlighted significant improvements in operating cash flows and margins, alongside achieving a record high backlog in its Nuclear segment.
Key financial metrics for the quarter included a 15% increase in services revenue, reaching $2.3 billion, and a notable 36.4% rise in Nuclear revenue. The company’s adjusted EBIT from services increased by 27.5% to $238.5 million, while its services backlog soared to $16.8 billion, a 34.7% increase from the previous year. Despite a slight dip in net income compared to the previous year, adjusted net income rose significantly by 63.6% to $110.1 million.
The company continues to focus on strategic priorities, including maintaining a strong balance sheet and investing in both organic and inorganic growth, while returning capital to shareholders. With stable demand and a growing backlog, AtkinsRéalis is well-positioned to deliver on its capital allocation priorities and drive future growth.
