Combined Revenue Growth and Organic Expansion
Total revenue of $488 million, combined revenue growth of 4.3% year-over-year (3.1% in constant currency) and combined organic growth of 2.2%.
Consulting Engineering Outperformance
Consulting Engineering revenue of $187 million, up 9.5% year-over-year; adjusted gross profit increased 11% and adjusted gross margin expanded by 60 basis points to 47.6%, driven by data center, infrastructure and building design demand.
Backlog Expansion Supporting Near-Term Visibility
Quarter-end backlog for Consulting Engineering and Geospatial of $1.12 billion, up approximately 14% from $983 million a year ago, providing greater revenue visibility.
Geospatial Growth and Strategic Investments
Geospatial revenue of $66 million, up 4.5% year-over-year, with ongoing Geo AI initiatives to improve processing efficiency and expand higher-value analytics; management cites mid-single digit growth as a reasonable expectation.
Profitability and Adjusted EBITDA Improvement
Adjusted gross profit of $180 million, up 3.8% vs prior-year combined; adjusted EBITDA of $57.7 million (vs $55.6 million prior-year combined). Company reaffirmed full-year 2026 guidance of $2.15B–$2.25B revenue and $330M–$355M adjusted EBITDA.
Integration Synergies Ahead of Schedule
Approximately $17 million of the $25 million cost synergy program actioned on an annualized run-rate basis; expect roughly $15 million of realized savings in 2026 (above prior $12.5M estimate). 13 site reductions/changes completed to date (4 in the quarter) with a 40-site roadmap.
Strong Liquidity Position
Total liquidity of $537 million at quarter end, including $427 million of cash and $111 million of available capacity under the revolving credit facility, supporting operational flexibility and disciplined capital allocation.
Data Center Momentum
Data centers cited as the largest driver of Consulting Engineering growth; trailing 12-month data center revenue ~ $80 million with backlog of a similar amount, indicating a solid pipeline and multi-year opportunity including ongoing operations work.