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In light of what the company called higher-than-expected organic growth and record-high order intake for a quarter, WSP adjusted its outlook for the rest of 2023 adjusted EBITDA of $1.90 billion to $1.93 billion, up from a range of $1.76 billion to $1.84 billion.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n L\u2019Heureux said finding enough workers is \u201ca constant challenge\u201d but its turnover is down significantly in past months and it has seen an increase in acceptance rates. Nonetheless, the company and industry overall have yet to return to pre-pandemic levels of retention, he said.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n WSP has bought 11 businesses<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a> since 2022, but this quarter it also offloaded one. The firm announced on Aug. 7 that it <\/span><\/span><\/span><\/span><\/span><\/span>sold Louis Berger Services<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a>, a global engineering, environmental and security services company. L\u2019Heureux said WSP had planned to divest it but wanted to increase profitability first.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n The company highlighted three wins for its <\/span><\/span><\/span><\/span><\/span>engineering services from the past quarter:<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n The firm is getting a boost from the Infrastructure Investment and Jobs Act in the U.S., according to WSP CFO Alain Michaud.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n \u201c[The IIJA] certainly has brought positive tailwinds to our business, the flow of funds is continuing to progress. When will it peak \u2014 that\u2019s a big question, but it tends to be more towards 2024, 2025,\u201d Michaud said. \u201cClearly [it\u2019s had a] direct impact on our growth, and also a direct impact on our growth in that it provides confidence for our public sector clients to fund more projects.\u201d\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n Like AECOM<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a>, the firm is seeing strong demand for infrastructure around the world, with China an outlier at the moment.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n “[There\u2019s] a rising need for improved infrastructure and for our expertise, which is a similar trend we see globally,” L’Heureux said. “We are seeing better performance than what we were anticipating at the beginning of this year essentially everywhere \u2014 with the exception of mainland China, where I think it’s widely recognized that the prolonged [COVID-19] lockdown had its effect and impact on the business.”\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n The firm remains focused on clean energy and resilience projects, and is also seeing strong growth in healthcare, mission critical and data center projects, according to <\/span><\/span><\/span><\/span><\/span><\/span>L\u2019<\/span><\/span><\/span><\/span><\/span><\/span>Heureux.<\/p>\n<\/p><\/div>\nInfrastructure a continued strength<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n