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  "documentTitle": "WSP Global Inc. (WSP)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2024-04-03 00:00:00",
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  "notes": "The chart includes an orange horizontal line representing the peer average excluding Wood E&I.",
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      "text": "The Wood E&I business stands out as a major outlier. WSP should explain what exactly is driving the provision size.",
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      "kind": "chart",
      "text": "Provisions As % of LTM Gross Revenue",
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      "text": "Provisions as % of LTM Gross Revenue: 14.6%",
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      "text": "Spruce Point analyzed industry peer reporting under FRS and IFRS and found that total provisions as a percentage of gross revenues are approximately 3.3%. The Wood E&I business stands out as a major outlier. WSP should explain what exactly is driving the provision size.",
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      "text": "Source: Company financial reports",
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      "kind": "title",
      "text": "The Wood E&I Provision Looks Astronomical Among Peers",
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