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.
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.
Stantec (STN) reported strong Q3 2024 results with record net revenue of $1.5 billion, up 15.8% year-over-year. The growth was driven by 7.8% acquisition and 6.5% organic net revenue growth. Adjusted EBITDA increased 13.8% to $274.6 million with an 18.0% margin. Adjusted diluted EPS grew 14.0% to $1.30. The company achieved a record backlog of $7.3 billion, up 15.9% since December 2023. Based on strong performance, Stantec raised its 2024 guidance, now expecting net revenue growth of 14.5-15.0% and adjusted diluted EPS growth of 16-18%.
Stantec (TSX,NYSE: STN), a global sustainable design and engineering company, has scheduled its third quarter 2024 financial results release for November 7, 2024, after market close. The company will host a webcast and conference call on November 8, 2024, at 7:00 AM Mountain Time (9:00 AM Eastern Time). CEO Gord Johnston and CFO Vito Culmone will discuss the company's performance. Participants interested in the Q&A session must pre-register for the conference call.
Stantec, a global leader in sustainable design and engineering (TSX, NYSE:STN), announced the passing of Dr. Patricia D. Galloway, a member of its Board of Directors, on September 26, 2024. Dr. Galloway joined Stantec's Board in May 2020 and served on the Corporate Governance and Compensation, and Sustainability and Safety committees.
With over 40 years of experience in energy and construction matters, Dr. Galloway was a renowned leader in civil engineering, gigaproject construction, and dispute resolution. She was also recognized as a trailblazer for inclusion, diversity, and equity, having served as the first female president of the American Society of Civil Engineers.
Both Doug Ammerman, Chair of Stantec's Board, and Gord Johnston, President and CEO, expressed their condolences and highlighted Dr. Galloway's valuable contributions to the company and the industry.
Stantec (TSX, NYSE:STN), a global leader in sustainable design and engineering, has been selected by the Los Angeles Department of Water & Power (LADWP) for a five-year master services agreement worth US$104 million. The firm will support LADWP's Power System Reliability Program (PSRP) to upgrade, expand, and modernize electrical infrastructure in greater Los Angeles, focusing on:
- Renewing aging infrastructure
- Driving the clean energy transition
- Providing power system and resource development services
- Conducting transmission planning studies and reliability assessments
- Offering consulting services for construction, maintenance, and safety
- Performing planning and feasibility studies for renewable resources
This agreement highlights Stantec's role in supporting utilities worldwide in modernizing electrical infrastructure and integrating renewable energy sources.
Stantec (NYSE:STN) reported strong Q2 2024 results with record net revenue of $1.5 billion, up 16.8% year-over-year. The company achieved 7.1% organic growth and 8.8% acquisition growth. Adjusted EBITDA increased 14.5% to $247.3 million with a 16.6% margin. Adjusted diluted EPS rose 13.1% to $1.12.
Highlights include:
- Water and Buildings businesses delivered double-digit organic growth
- US region saw 8.7% organic growth
- Backlog increased to $7.2 billion, up 13.4% since December 31, 2023
- Company revised 2024 guidance, narrowing adjusted EBITDA margin to 16.5%-16.9%
- Quarterly dividend declared at $0.21 per share
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