WSP Global CEO sees benefits from infrastructure spending, AI build-out

WSP Global Inc.’s top executive says the company is reaping the benefits from increased spending from governments around the world on large-scale infrastructure projects as it also eyes opportunities tied to the build-out of facilities needed to power AI. 

Alexandre L’Heureux, president and CEO of WSP, says there has been renewed focus on building infrastructure like mass transit and airports, which will translate into higher demand for WSP’s services. 

“Governments are funding massive infrastructure and clean energy programs here in Canada, in the U.S., in Europe and in Australia, and those projects require exactly the kind of high-end consulting WSP provides,” he said on the company’s earnings call Thursday.

L’Heureux said the company is entering 2026 with greater optimism than when it entered 2025. 

“The proposal activity level is strong across the business, and our backlog master service agreement and sub backlog are growing steadily,” he said.

The Montreal-based engineering consulting firm reported a record high backlog of $17.1 billion in its fourth-quarter results.

L’Heureux said the company’s Canadian operations are expected to continue to be a key driver for 2026, bolstered by market fundamentals and federal strategic investment, which will contribute to its backlog.

“Canada is positioned to deliver solid performance with mid to high single-digit organic growth expected in 2026,” he said. 

On Wednesday, WSP Global reported net earnings attributable to shareholders of $256.3 million in the quarter, up from $166.9 million during the same period a year earlier. 

Revenue came in at $4.85 billion, rising year-over-year from $4.66 billion.

L’Heureux also said the company remains more insulated from AI disruption than other sectors because it manages complex physical projects.

“In recent months, many actors have painted all professional services firms with the same AI brush, worrying that we are entering an era where advanced AI will replace firms like WSP,” he said. 

When evaluating the impact of AI, L’Heureux said that lumping various industries together would be an inaccurate way to assess the situation.    

“No algorithm can navigate city politics and replace these human dynamics. An AI can’t negotiate with the city council in a construction permit, and it certainly can’t take accountability in front of a professional board if something goes wrong,” he said. 

Instead, L’Heureux said the technology can be an opportunity for WSP, by allowing it to further leverage data and help with the physical build out needed to power the technology. 

“Keep in mind that a third of our platform benefits from the AI tailwind, including in the power and energy business, data centres, mining and digital advisory. These businesses are growing at double-digit rates right now,” he said.    

On Tuesday, the company said it completed its acquisition of U.S.-based engineering, consulting and construction firm TRC Companies. The all-cash deal was announced in December of last year and was valued at $4.5 billion.   

This report by The Canadian Press was first published Feb. 26, 2026.    

Companies in this story: (TSX:WSP)