CANDU Monark reactor rendering. AktinsRealis image
The nuclear energy sector is performing better than expected, according to AtkinsRéalis Group Inc.
The Montreal-based company, formerly known as SNC-Lavalin, expects its nuclear operations to generate about $2.7 billion in revenue in 2026, compared to its previous forecast of $2.5 billion.
“The common thread (in my meetings) is the strong trend supporting nuclear power as a clean and safe energy solution,” said president and CEO Ian Edwards during a conference call on Thursday to discuss second-quarter results.
He added that the issue of energy security is top of mind for many politicians and business leaders, pointing to the recently announced federal nuclear strategy.
“Our conversations and our own government’s announcement make us even more enthusiastic about the growth prospects for nuclear power,” said Edwards.
AtkinsRéalis reported its second-quarter profit dropped compared with a year ago, while revenue rose 10 per cent.
While the Canadian market is strong, with organic growth of 12.7 per cent, it’s a different story in the United States and Latin America. The region is down 2.2 per cent.
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War in the Middle East is also holding back growth in the division that includes operations in Asia, the Middle East, and Australia, where organic revenue declined 12.3 per cent.
But Edwards wants to reassure investors about the outlook in the U.S., saying that the order backlog grew 12 per cent in the second quarter.
National Bank Financial analyst Maxim Sytchev wrote in a report he believes shareholders are holding the stock for the nuclear segment. “We believe the projects in Ontario will be particularly beneficial for shareholders.”
On Thursday, AtkinsRéalis reported net income attributable to shareholders of $95.7 million or 59 cents per diluted share, for the quarter ended June 30.
The result was down from $2.32 billion or $13.32 per diluted share in the same quarter of last year, which included an after-tax gain on the company’s disposal of its remaining 6.76 per cent stake in Highway 407 ETR.
On an adjusted basis, AtkinsRéalis says it earned 97 cents per diluted share in its latest quarter, up from an adjusted profit of 81 cents per diluted share in the second quarter of 2025.
Revenue totalled $3.00 billion, up from $2.72 billion a year earlier.
The company’s backlog stood at $20.2 billion as of June 30, down from $20.9 billion a year ago.
— With files from Stéphane Rolland in Montreal.
This report by The Canadian Press was first published Aug. 6, 2026.
Companies in this story: (TSX: ATRL)
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