BNN: LaBell on the markets and AtkinsRéalis betting on nuclear

August 6, 2026

Our Portfolio Manager, Sam LaBell, was on BNN Bloomberg, discussing high oil prices, persistent inflation, rising bond yields and what this means for positioning in his funds. 

He also discussed AtkinsRéalis Group Inc. (TSX: ATRL) following its Q2-F26 results. Sam thinks the fears that AI will disrupt the engineering sector and that AtkinsRéalis will be affected are overblown.

“In fact, I think long-term [AI] will lead to more profitability and more work. If you take a look at AtkinsRéalis, they have about $20 billion worth of backlog. That’s roughly stable year over year, but that’s a lot of money. That’s about 21 months of work on a trailing revenue basis.”

He also discussed quarterly results for Shopify Inc. (Nasdaq, TSX: SHOP), Canadian Natural Resources Ltd. (NYSE, TSX: CNQ) and his preferred name in the energy sector, Cenovus Energy Inc. (NYSE, TSX: CVE).

Disclaimer