Earnings rose at AtkinsRéalis Group, Montreal, Canada, in the first quarter, which the engineering services and nuclear company attributed to better cashflow and lower net financial expenses.
Net earnings for the first quarter ended March 31 were C$92.8 million (US $67.6 million) or C$0.56 a share (US $0.41) up from C$69.1 million (US $.49.5 million) or C$0.39 a share (US $0.28), in the year-ago quarter, according to the company’s Thursday earnings report.
Quarterly revenue was C$2.9 billion (US $2.1 billion), up year-over-year from C$2.5 billion (US $1.8 billion). AtkinsRéalis’ engineering services regions revenue was C$1.9 billion, up from C$1.7 billion in the first quarter last year.
For the company’s nuclear segment, revenue jumped to C$736 million (US $536 million), up from C$538 million (US $392 million) year-over-year.
Under the revenue section of the earnings report, AtkinsRéalis said that it had less direct costs for subcontractors and other direct expenses that were recoverable directly from clients in both its engineering services and nuclear business.
During the first quarter of 2026, AtkinsRéalis agreed to work with tech giant Nvidia to accelerate deployment of nuclear-powered artificial intelligence (AI) factories. AtkinsRéalis’ subsidiary company, Candu Energy, also contributed to the completion of Ontario Power Generation’s Darlington refurbishment project in early February.
“Our focus on helping clients address long-term global energy security and aging infrastructure needs drove a strong first quarter, including double-digit percentage revenue growth in our nuclear and engineering services businesses. Ian Edwards, president and CEO of AtkinsRéalis, said.
“With our unique and complementary combination of nuclear and engineering services businesses and a strong balance sheet, we remain well positioned to continue creating shareholder value,” Edwards added.
During AtkinsRéalis’ Thursday earnings call, Edwards told stakeholders that its nuclear business is becoming a “very significant part” of the company. He said two years ago its nuclear business made up 15% of the company’s revenue, but now makes up 25% of its revenue.
“As we move forward, we will see the nuclear part of AtkinsRéalis become a larger part of the whole of the company,” Edwards said. “We’re seeing very significant opportunities in Canada [and] overseas because of energy demand, energy security, net-zero [carbon emissions] and affordability.”
Recently, AtkinsRéalis announced that it is revamping its nuclear business in the United States. The reorganization aims to set up two operating divisions to better align with accelerating demand across the federal and commercial nuclear markets, the company said.