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  "documentTitle": "WSP Global Inc. (WSP)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2024-04-03 00:00:00",
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  "notes": "The slide uses a table to show the decline in net earnings margin from 16.9% in 2021 to 6.3% in 2023.",
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      "text": "The biggest challenge that our clients and the industry face headed into 2024 is finding and keeping good talent.",
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      "text": "Spruce Point finds evidence to suggest that WSP is having more difficulty finding accretive acquisition targets to grow. Net earnings margin of acquired tuck-in acquisitions has declined in the past three years.",
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      "text": "The biggest challenge that our clients and the industry face headed into 2024 is finding and keeping good talent. — Industry trade magazine",
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      "text": "Source: WSP Annual Reports and Spruce Point analysis. 1) “Nine engineering firms leading in firm acquisition”, CSEMag.com, Jan 2024",
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      "text": "WSP's Smaller \"Tuck-In\" Acquisitions table showing deals, revenue, and margins by year.",
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