Latest news with #AtkinsRealis
Globe and Mail
15-05-2025
- Business
- Globe and Mail
Nuclear deals power 52% profit surge at AtkinsRealis, prompt brighter forecast
Nuclear projects fuelled a big surge in revenue at AtkinsRealis Group Inc. ATRL-T last quarter, paving the way for better financial results in the year ahead, the engineering firm said. 'We cannot overstate our belief in the significant opportunity in front of AtkinsRealis in the nuclear sector,' chief executive Ian Edwards told analysts on a conference call Thursday. 'We continue to position extremely well to take advantage of the ongoing nuclear supercycle.' The Montreal-based company formerly known as SNC-Lavalin raised its 2025 nuclear revenue outlook to between $1.9-billion and $2-billion from the previous range of $1.6-billion to $1.7-billion. It also increased its projections for adjusted earnings. AtkinsRealis shares were up 14 per cent to $86.45 on the Toronto Stock Exchange as of midday. Edwards also brushed off any concerns about the impact of the global trade war set off by U.S. President Donald Trump, who has also tried to freeze hundreds of billions of dollars in federal grants and loans. 'We are not directly impacted by tariffs, and we are minimally exposed to federal agency contracts,' he said. During its latest quarter, AtkinsRealis boosted its backlog of nuclear work to a record $5.25-billion in a 185 per cent leap from a year earlier. Revenue in the segment grew organically by 77 per cent year-over-year to a quarterly record of $538-million, accounting for the vast majority of the company's total revenue increase and its 52 per cent jump in profits. Last quarter, Atkins subsidiary Candu Energy signed a multibillion-dollar contract for a life extension on four reactors at Ontario's Pickering nuclear power station. It also secured a contract to extend the life of a reactor at the Cernavoda nuclear plant in Romania, after winning a bid late last year to build two new multibillion-dollar reactors there. In March, the federal government announced a preliminary agreement to finance half the cost of Candu's proposed Monark reactor – AtkinsRealis' latest homegrown nuclear technology – with a $304-million loan. 'We're negotiating both for additional life extensions in Korea, additional phases of life extensions in Canada and obviously new builds (in Europe and Asia),' Edwards said Thursday. The one drain on the company's income statement remained three so-called lump-sum turnkey (LSTK) construction contracts: Toronto's Eglinton Crosstown light-rail transit system, Ottawa's Trillium Line and the greater Montreal area's REM light-rail network extension. But, the losses totalled far less than the $84.4-million from the previous quarter. The legacy segment yielded $14.9-million in adjusted losses before interest and taxes. The loss was owed mainly to 'overhead costs from the ongoing efforts to bring the remaining projects to completion' – particularly the REM in Montreal, where most of the construction backlog lies – the company said. The backlog for the costly LSTK division – its fixed-price contracts mean companies must pay for any cost overruns themselves – sat at $200-million last quarter, down from $299-million the year before. AtkinsRealis halted all bidding on new construction contracts in 2019. It also continues to hunt for a buyer for its money-losing joint venture with Hitachi Energy, Linxon, which focuses on electrical substations. On Thursday, the company reported a net income $70.6-million for the three months ended March 31 versus $46.6-million in the same period a year earlier. First-quarter revenues increased 12 per cent year-over-year to $2.55-billion from $2.26-billion. On an adjusted basis, AtkinsRealis' professional services and project management business earned 57 cents per diluted share in its latest quarter, up from an adjusted profit of 42 cents per diluted share a year ago.
Yahoo
25-04-2025
- Business
- Yahoo
Open house held as Tri-Cities Airport Master Plan nears completion
BLOUNTVILLE, Tenn. (WJHL) – The Tri-Cities Airport staff hosted an open house meeting as they near the completion of their master plan that will help shape the future of the airport for the next 20 years. The Tri-Cities Airport Master Plan project has been taking place for the last two years. Consulting firm Atkins Realis was hired by The Tri-Cities Airport to help make this master plan a reality. Gavin Fahnestock, director of aviation planning with Atkins Realis, said the process started with forecasts of what they anticipate the airport needing throughout the next 20 years. 'And so the master plan identifies what we have today, where we're going into the future, and then comes up with a plan on how to accommodate that and what development would be necessary to accommodate that as well,' Fahnestock said. Instead of focusing on attracting new airline services to the Tri-Cities, the master plan takes into account what would need to change at the airport to accommodate that growth. 'So if the airport were to gain a new airline, or if they were to gain new routes to different destinations, what would the impact on the airport be? You know, how many additional passengers would be coming through and what kind of impacts to the parking would that have on the airport, on the terminal facility. How can we accommodate those different types of aircraft on the air side as well?' At the open house, three different airport development alternative plans were shown and then the preferred alternative plan that was chosen throughout the process. That preferred alternative will serve as the blueprint for the future of the Tri-Cities Airport. 'Some of the more major development items that we have identified for the Tri-Cities Airport include growth in the terminal building. The current terminal building is very congested and actually doesn't meet the demand that it has today.' Fahnestock said expanding the terminal building will help accommodate additional airlines. Therefore, they would change the crosswind runway. 'But it [the crosswind runway] would actually go away. And then in the future be replaced with a parallel runway. A parallel runway would provide a lot more efficiency at the airport, a lot more capacity at the airport, and would get rid of that conflict with the two runways, which really has an impact on the ability for multiple aircraft to be using the two different facilities at the same time.' Fahnestock said the aerospace park on the south side of the airport is also a huge opportunity for development in the master plan. 'That kind of development can include anything from personal hangars, corporate hangars, maintenance and repair facilities, cargo facilities, or other industrial kind of development as well.' Although the preferred alternative development is the current chosen road map for the airport, it can continue to be changed and modified. Other factors such as environmental impact and revenue are also included in the master plan. Fahnestock said it's important to have this pan in place to meet the airport's demand. 'And I think the excitement for this is showing that the airport is taking the steps necessary to position themselves to grow in the future. So the master planning process really is that first step. It really provides you the baseline to be able to react to changes within the aviation industry, but also in the demand of the airport.' You can still submit feedback for the Tri-Cities Master Plan here. To find more information about the plan, you can visit the Tri-Cities Airport website. The entire Tri-Cities Master Plan will continue to be updated throughout the next 20 years. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
28-03-2025
- Business
- Yahoo
AtkinsRealis, Arcadis join forces for Northern Powerhouse Rail design
AtkinsRealis and Arcadis have been selected by Network Rail to support the design of Northern Powerhouse Rail (NPR), an initiative aimed at enhancing rail connectivity in Northern England. The 50:50 joint venture is one of four suppliers chosen to work on the five-year, £300m ($387.9m) development and design partnership framework, which may extend for an additional three years. The DDPF will provide multi-disciplinary design and engineering services across various disciplines, from preliminary feasibility studies to detailed construction designs. It will utilise advanced modelling and benchmarking tools to ensure efficient decision-making. The collaboration between AtkinsRealis and Arcadis will draw on their transport planning, technical advisory, and data-driven design expertise to deliver sustainable solutions to support long-term growth. Arcadis Mobility UK and Ireland managing director Paul Dennett said: 'We know that delivering an efficient, well-managed rail service is critical for Network Rail, but investment must also support broader economic growth and social mobility.' 'Our role in early-stage project development will help define service patterns, requirements, and outputs that shape the railway of tomorrow, ensuring that every investment decision maximises value.' The DDPF is set to facilitate the delivery of NPR, which is a key component of the Integrated Rail Plan and Network North. The IRP outlines the planned rail infrastructure investments in the Midlands and the North over the next 30 years, while Network North envisions an extended NPR, with its scope currently under development. AtkinsRealis Transportation UK & Ireland managing director Colette Carroll said: 'Designing transformative rail is a significant opportunity to lay the groundwork for new economic growth and prosperity. 'These major rail programmes across the North of England will improve connections between businesses and people with faster journeys and more reliable services.' Arcadis has been part of the NPR team since 2019, offering cost planning and stakeholder management services. AtkinsRealis has been working with Transport for the North since 2020 as an infrastructure delivery partner to develop strategic plans for NPR. Last month, AtkinsRealis was selected by Network Rail to manage its Property Digital Programme, overseeing the digital infrastructure for one of the UK's largest property portfolios. "AtkinsRealis, Arcadis join forces for Northern Powerhouse Rail design" was originally created and published by Railway Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
19-02-2025
- Sport
- Yahoo
Carlisle father-son duo qualify for Ironman World Championships
A father and son from Carlisle have qualified for the Ironman World Championships. Phil and Matthew Whitehead earned their spots after leading their age groups in the Ironman 70.3 Oman. They are set to compete in the international race in Marbella in November. The qualifying contest saw them complete a 1.2-mile swim, 56-mile cycle, and a 13.1-mile run in 30-degree sunshine. Mr Whitehead, a shift team leader for at Steven's Croft Power Station, has previously competed at the World Championships in Hawaii in 2017, then in Nice in 2019 and 2023. Matthew, a project management degree apprentice with Atkins Realis, only took up triathlon two years ago. He had his first major win as part of a relay team at Lakesman, the award-winning event he organises with his dad and his mum, Marie. Ironman 70.3 Oman was his first attempt at qualifying for the World Championships. Matthew beat his dad on the swim by four minutes, finishing in 26:36. He also led the way on the bike, completing the cycle in two hours 14 minutes. However, as the run is Mr Whitehead's strongest discipline, he finished the half marathon in one hour 25 minutes, six minutes faster than his son. Overall, he completed the race just over a minute slower than his son. Matthew had led the 18-24-year-old athletes from the gun, finishing in a time of four hours 18 minutes, 18 minutes ahead of his age group competitors. Mr Whitehead had worked his way through the 45-49 age group to win in a time of four hours 19 minutes. Matthew said: "I'm absolutely delighted to have qualified at my first attempt and I cannot wait for Marbella. "There is already a big group of supporters who have booked flights and hotels to cheer us on so it should be a great weekend." Mr Whitehead added: "I am really happy to have qualified so early in the season and it makes it even better that we are both competing in Marbella. "Matthew taking part has meant I've had to get back into serious training to keep him on his toes."
