AtkinsRéalis stock gets a higher nuclear revenue outlook

AtkinsRéalis stock enters the latest reporting cycle with a higher 2026 nuclear revenue outlook of CAD 2.7 billion, raised from CAD 2.5 billion after the second-quarter results. AtkinsRéalis reported the updated outlook on August 6, 2026, alongside stronger nuclear activity and engineering demand.

Nuclear outlook reaches CAD 2.7 billion

Second-quarter revenue increased 10 percent year over year to CAD 2.99 billion, while adjusted EBITDA rose 14 percent to a quarterly record of CAD 293 million. Adjusted EPS climbed 20 percent to CAD 0.97 from CAD 0.81 in the second quarter of 2025, according to Yahoo Finance in the August 6, 2026 earnings-call transcript.

The comparison matters because the company’s adjusted performance improved even as IFRS diluted EPS was CAD 0.59, down from CAD 13.32 in the prior-year quarter, which included a CAD 12.86 gain from the disposal of its remaining Highway 407 interest. The adjusted measure gives a clearer view of operating momentum.

Backlog supports the nuclear thesis

Total backlog reached CAD 20.2 billion at June 30, 2026, including CAD 13.4 billion in engineering services. Nuclear revenue grew 18 percent organically year over year, while the nuclear backlog stood at CAD 4.2 billion, down 25 percent from June 30, 2025 as projects progressed.

A separate contract adds a concrete near-term order reference. On September 21, 2026, an AtkinsRéalis and Aecon joint venture signed a CAD 1.7 billion contract with Ontario Power Generation for refurbishment work at Pickering Unit 5, with AtkinsRéalis adding its share to nuclear backlog in the third quarter, MarketScreener reported.

Cash flow remains a key checkpoint

Operating cash flow totaled CAD 84 million in the second quarter of 2026, and management maintained a full-year 2026 expectation of CAD 500 million. That cash-generation target, together with the backlog and nuclear outlook, gives investors three measurable checkpoints for execution.