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Stantec Inc., a global leader in sustainable design and engineering, announced the results of its 2024 Annual Meeting of Shareholders. The Meeting saw the retirement of long-standing director Bob Gomes and the election of nine new directors. The shareholders also reappointed PricewaterhouseCoopers LLP as the auditor for 2024 and accepted the company's approach to executive compensation. Stantec continues its commitment to designing with community in mind, aiming to advance the quality of life globally.
Stantec reported strong Q1 2024 results with 19% growth in diluted earnings per share and 23% growth in adjusted diluted earnings per share. Record net revenue of $1.4 billion, 11.5% increase over Q1 2023. Adjusted EBITDA margin of 15.5%, up 90 basis points. Adjusted diluted EPS of $0.90, up 23.3%. Record backlog of $7.0 billion, up 11.5% since Dec 31, 2023. Completed three acquisitions. Dividend of $0.21 per share declared. Reaffirmed 2024 annual targets.
Stantec, a global leader in sustainable design and engineering, has acquired Hydrock, a UK integrated engineering design firm, expanding its UK workforce by over 30%. The acquisition aims to diversify expertise and bolster offerings in energy, buildings, and infrastructure markets. The transaction closed on April 30, with undisclosed terms. Hydrock's addition enhances Stantec's capabilities in fire safety, energy, sustainability, civil and structural, MEP, transport, environmental, and geotechnical services, aligning with both companies' commitment to sustainable operations and inclusive cultures.
Stantec, a global leader in sustainable design and engineering, has been selected by BC Hydro to provide transmission and distribution engineering services for the electrical infrastructure in British Columbia, Canada. The CAD$186-million master services agreement is part of BC Hydro's 10-year capital plan to modernize its electrical grid and provide clean, reliable energy to communities throughout British Columbia. Stantec will supply a range of engineering services, project management, and oversight for this initiative.
