Welcome to our dedicated page for Stantec news (Ticker: STN), a resource for investors and traders seeking the latest updates and insights on Stantec stock.
Stantec, Inc. (NYSE: STN) is a global leader in sustainable engineering, architecture, and environmental consulting. With over 15,000 specialists in more than 250 locations, Stantec operates across three major regions: Canada, the United States, and globally. The company offers comprehensive services throughout the project lifecycle, including planning, engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics.
Founded in 1954, Stantec has built a reputation for its local strength, deep industry knowledge, and world-class expertise. The company's commitment to community-centric design drives its projects, which range from buildings and infrastructure to energy and resource developments. Stantec's interdisciplinary approach allows it to deliver innovative solutions that enhance the quality of life in the communities it serves.
Recent achievements underscore Stantec's industry leadership. In 2023, the company reported record financial results, with net revenue increasing to $5.1 billion, driven by significant organic and acquisition growth. Stantec's acquisition of Morrison Hershfield, a renowned engineering and management firm, is set to bolster its market presence and expand capabilities in transportation, building engineering, and environmental services across Canada and the US.
Stantec is also at the forefront of the energy transition, providing integrated design services for Agratas' battery cell manufacturing facility in the UK, a pivotal project supporting the region's green energy goals and job creation. The company's focus on sustainable, high-performance design extends to various sectors, including advanced manufacturing, transit facilities, and industrial buildings.
Financially, Stantec continues to thrive, with strong operational performance reflected in its 2024 outlook. The company anticipates net revenue growth between 11% and 15%, driven by robust market demand and strategic acquisitions. Stantec's dedication to operational excellence ensures it remains well-positioned to address global challenges and deliver value to clients and stakeholders.
For the latest updates and news on Stantec's performance, projects, and events, visit the company's website or follow its social media channels. Stantec trades on the TSX and the NYSE under the symbol STN.
Cadiz Inc. (NASDAQ: CDZI) has partnered with Stantec Inc. (NYSE: STN) to oversee the development and construction of the $800M Mojave Groundwater Bank project, set to be the Southwest's largest new water infrastructure project. The project will provide:
- 2.5 million acre-feet of new water supply
- 1 million acre-feet of underground storage capacity
- 350+ miles of pipeline network between Colorado River and California Aqueducts
Located at a 2,000 square mile watershed system base, the aquifer system currently holds 30-50 million acre-feet of groundwater. At the end of 2024, Cadiz announced a historic partnership with Native American Tribes to construct, own, and operate the project, marking the first large-scale water infrastructure project off tribal lands in U.S. history.
Stantec reported record earnings for 2024, with net revenue rising 15.8% to $5.9 billion. The company saw a 7.4% organic growth and 7.5% acquisition growth. Adjusted EBITDA increased by 18.0% to $980.3 million, with a margin of 16.7%. Adjusted diluted EPS rose by 20.4% to $4.42. Stantec achieved a record backlog of $7.8 billion, up 24.1% from 2023.
Q4 2024 highlights include a 19.0% increase in net revenue to $1.5 billion, with 9.3% organic growth. Adjusted EBITDA rose by 26.7% to $246.5 million, and adjusted diluted EPS increased by 35.4% to $1.11. Net income for the year grew by 14.2% to $361.5 million, and diluted EPS increased by 11.2% to $3.17.
For 2025, Stantec projects net revenue growth of 7% to 10% and adjusted EBITDA margin between 16.7% and 17.3%. The company expects adjusted EPS growth of 16% to 19%. A dividend of $0.225 per share was declared, a 7.1% increase, payable on April 15, 2025.
Stantec's strategic focus on project execution and operational excellence is anticipated to drive continued growth and margin expansion in 2025.
Stantec (TSX, NYSE:STN) and Drees & Sommer have been selected to provide design services for Silicon Box's new €3.2 billion semiconductor assembly and test facility in Northern Italy. Stantec will handle architecture for administration areas and infrastructure design, including permitting services.
The facility, located near Novara, Piedmont, is scheduled to begin operations in 2028 and will create approximately 1,600 jobs. This marks Silicon Box's first manufacturing expansion outside Singapore, replicating their flagship facility's advanced panel-level semiconductor packaging solutions.
The project aims to strengthen Europe's semiconductor supply chain and will serve as a catalyst for advanced manufacturing investments in Italy. The facility will support key initiatives including artificial intelligence, data centers, mobile technologies, and electric vehicles. Stantec's design will prioritize environmental standards in accordance with European Commission requirements.
Stantec (TSX,NYSE: STN), a global sustainable design and engineering leader, has scheduled the release of its fourth quarter and full-year 2024 financial results before markets open on Tuesday, February 25, 2025. The company will host a webcast and conference call on the same day at 2:30 PM Mountain Time (4:30 PM Eastern Time) to discuss its performance.
The event will feature presentations from Gord Johnston, president and CEO, and Vito Culmone, executive vice president and CFO. Participants interested in the Q&A session are required to pre-register for the conference call, after which they will receive dial-in details and a unique access code. The presentation will be broadcast live and available on Stantec's website under the Events and Presentations section.
Stantec (STN) has been ranked eighth overall and first among industry peers in Corporate Knights' 2025 100 Most Sustainable Corporations in the World. The recognition, announced at the World Economic Forum in Davos, Switzerland, evaluated over 6,000 publicly traded companies with revenue exceeding US$1 billion.
The company's sustainability achievements include generating $3.9 billion (61%) of its 2023 gross revenue from work supporting UN Sustainable Development Goals, as revealed in their 17th annual Sustainability Report. Stantec also committed to the MEP 2040 Challenge, aiming to reduce carbon emissions from building systems.
Recent accolades include listings on Newsweek's Canada's Most Responsible Companies for 2025 and TIME's World's Most Sustainable Companies for 2024. The company operates globally in sustainable architecture, engineering, and environmental consulting, focusing on addressing challenges like aging infrastructure, demographic changes, and energy transition.
Stantec (TSX, NYSE: STN) has announced two key appointments to its Board of Directors, effective January 1, 2025. Christopher Lopez, with 28 years of experience in utility, power generation, and mining sectors, joins with extensive financial and regulatory expertise from his role as Chief Financial and Regulatory Officer at Hydro One Rick Eng brings nearly 30 years of investment banking and private equity experience, notably as Managing Partner in Brookfield Asset Management's Infrastructure Group.
Lopez's background includes significant M&A experience and clean energy finance expertise from both Hydro One and TransAlta Eng's expertise spans mergers and acquisitions, capital markets, and strategic business planning, with over 17 years at Brookfield where he led new investments and supported portfolio companies in growth initiatives.
Stantec (TSX, NYSE:STN) has been selected by the City of Toronto for a C$24 million contract to provide Owner's Engineer/Technical Advisory Services for the Gardiner Expressway Rehabilitation Project Section 4. The project involves replacing 2.2 kilometers of elevated roadway from Grand Magazine Street to York Street, including 91 bridge spans and 5 on- and off-ramps.
The rehabilitation strategy encompasses structural modifications, deck replacement, steel girder repairs, and substructure rehabilitation. The project is part of a larger rehabilitation plan for the expressway, which serves 140,000 vehicles daily. This contract builds upon Stantec's previous work on other sections of the Gardiner Expressway and follows the company's recent acquisition of Morrison Hershfield, which doubled its transportation staff in Ontario.
Stantec (TSX, NYSE: STN) has received TSX approval to renew its Normal Course Issuer Bid (NCIB), allowing the purchase of up to 2,281,339 common shares (2% of outstanding shares) between December 13, 2024, and December 12, 2025. Daily purchases will be to 64,993 shares, excluding block purchases. In 2023, Stantec repurchased 129,036 shares at an average price of $77.25, totaling C$10 million. No shares were repurchased in 2024 as the company focused on acquisitions, including ZETCON Engineering, Morrison Hershfield, and Hydrock.
The company also renewed its automatic share purchase plan (ASPP) to facilitate share purchases during trading black-out periods. Stantec believes this strategy reflects its commitment to maintaining balance sheet strength while supporting growth, debt reduction, and dividend increases.
Stantec has been selected by Thames Water to provide services under their £400 million Asset, Capital, and Engineering Professional Services Framework. The company secured positions in five lots to deliver interdisciplinary engineering, environmental, and program management services during the AMP8 period (2025-2030).
The framework, which runs for an initial five-year period, will support Thames Water, which manages water and wastewater for over 16 million customers across London and the Thames Valley. Stantec will provide asset strategy, engineering design, environmental, and program management support across infrastructure and non-infrastructure projects.
Stantec and partners have been awarded a $274.7 million contract by the U.S. General Services Administration for a new commercial inspection port in Douglas, Arizona. The project, funded by IIJA ($180.3M) and IRA ($92.2M), will increase commercial inspection capacity from 1 to 4 lanes and truck-inspection docks from 12 to 36. The new Douglas Commercial LPOE will be built on 80 acres and handle all commercial traffic, allowing the existing RHC LPOE to focus on noncommercial traffic. The all-electric port will feature sustainable design elements including solar panels and low-emission materials. Construction is scheduled from fall 2025 to fall 2028.
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