AtkinsRéalis reports strong first quarter

Earnings rose at AtkinsRéalis Group, Montreal, Canada, in the first quarter, which the engineering services and nuclear company attributed to various contracts for nuclear power, transportation and infrastructure.

Net earnings for the first quarter ended March 31 were Cnd $69.1 million (US $.49.5 million) or Cnd $0.39 a share (US $0.28) up from Cnd $45.5 million (US $32.6 million) or Cnd $0.26 a share (US $0.19), in the year-ago quarter.

Quarterly revenue was Cnd $2.5 billion (US $1.8 billion) up year-over-year from Cnd $2.3 billion (US $1.7 billion).

AtkinsRéalis is part of a team recently awarded a construction contract for Ontario Power Generation’s Darlington Small Modular Reactor project.

Also during the first quarter, the AtkinsRéalis subsidiary in the United States and Tennessee-based Strata-G formed a joint venture to pursue contracts in the federal and commercial markets.

“Nuclear performance was particularly strong as continued demand for our nuclear expertise and CANDU life extensions increased our Nuclear backlog above $5 billion for the first time in our history,” said Ian Edwards, President and CEO of AtkinsRéalis.

The CEO said Atkins is in discussion for new nuclear projects both in Canada and internationally. 

The U.S. branch of AtkinsRéalis Group is a major contractor for the Department of Energy. It is a partner in several joint ventures doing work for the DOE Office of Environmental Management. This includes being lead partner in Mid -American Conversions Services, which runs depleted uranium hexafluoride (DUF6) conversion plants at the Portsmouth Site in Ohio and the Paducah Site in Kentucky.