Newspaper article The Canadian Press

WSP Global Reports Improved Q2 Earnings Ahead of Louis Berger Deal

Newspaper article The Canadian Press

WSP Global Reports Improved Q2 Earnings Ahead of Louis Berger Deal

Article excerpt

WSP Global reports improved Q2 earnings

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Montreal-based engineering firm WSP Global Inc. reported a seven per cent jump in earnings during its second-quarter, which closed just weeks before the company's stock hit a 10-year high ahead of an announcement it would buy a New Jersey-based infrastructure contractor.

Net income for WSP, which reports in U.S. dollars, came in at $67.8 million in the quarter ended June 30, up from $62.8 million in the same period a year earlier as the company reported all of its segments posted solid revenue growth.

Revenues jumped 17.1 per cent to $1.54 billion.

On an adjusted basis, the company's net earnings amounted to 78 cents per share, falling short of analysts' estimates of 85 cents per share, according to Thomson Reuters Eikon.

The pending $400-million deal to acquire Berger Group Holdings Inc. …

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