AtkinsRéalis Group (ATRL) Q2 2026 earnings summary

Executive summary

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

• Backlog reached $20.2 billion, with engineering services backlog at a record $13.4 billion and nuclear segment revenue up 18%.

• Strategic acquisitions in Australia and Ireland, and continued AI integration to support growth.

• Strong nuclear growth, driven by life extension projects, new licensing initiatives, and raised 2026 revenue outlook.

• Disciplined capital allocation with share buybacks and robust balance sheet.

Financial highlights

• Revenue increased 10% year-over-year to $3.0 billion; organic revenue growth was 8.3%.

• Adjusted EBITDA reached $293 million, up 14%, with a margin of 9.8%; adjusted EPS rose 20% to $0.97.

• Net cash from operating activities was $84 million; share buybacks totaled $240–245 million for 2.8 million shares.

• Net debt ratio remains well below 1x to 2x target, at -0.1.

• 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).

• Engineering Services Regions organic growth expected toward the lower end (5%) of the guidance range due to Middle East conflict.

• 2027 nuclear revenue guidance remains $2.6–3.0 billion, with expectations to reach the upper half.

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