Alexandre L’Heureux said Wednesday the fast-growing company, whose design and management services overlay directly onto the types of projects backed by President
"Clearly our clients at the moment are excited. There's obviously also a nervousness about the ability to deliver, which I haven't seen in a very long time. So I think this is clearly a positive outcome as it relates to organic growth," L'Heureux told investors on a conference call.
While Biden predicted last week Americans would begin to feel the impact of the infrastructure bill within two to three months, L'Heureux says federal funds won't start "entering the pipeline" for up to six months.
The funding flood should drive more projects for WSP by late next year or 2023, the CEO said.
The bill holds the promise of rebuilding aging roads, highways and bridges across
Renewed commitments to emissions reduction and a greener globe across levels of government as well as international forums like the ongoing
"This is by far our fastest growing sector at the moment," he said, citing green infrastructure plan in
"And the work that we do in environment is often times in preparation for more work in the transportation, infrastructure and building sectors."
Ramped-up spending on infrastructure and green efforts in other countries has started to pay off.
Last quarter WSP secured a deal to undertake environmental investigations into land and marine habitats at the world's first "energy island," which
Fresh off its
In September, a joint venture involving WSP won a
Wages remain a possible pressure point for WSP as the company eyes the potential cost of inflation.
"Wages and inflation are something we're very much focused on at the moment. We are cautiously optimistic," L'Heureux said. "But this is obviously something that we are monitoring right now very, very carefully."
In a note to investors, analyst
WSP beat expectations Tuesday as its net profit increased 33 per cent in its latest quarter, with acquisitions helping to boost revenues.
Its backlog stood at
WSP's share price rose 3.55 per cent Wednesday, closing up
Net income attributable to shareholders was
Net revenues were
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