Stantec Stock Price, News & Analysis

Stantec (TSX, NYSE:STN) reported strong Q1 2022 results, featuring a 19.5% increase in net revenue to CAD 1.05 billion. Adjusted diluted EPS rose 22.0% to CAD 0.61. The company’s backlog reached a record CAD 5.4 billion, indicating 6.8% organic growth. Despite an inflow of CAD 6 million in operating cash flows, net income decreased 12.0% to CAD 44.8 million due to higher administrative expenses. The leadership emphasized their focus on sustainability, with 53% of revenues linked to UN Sustainability Development Goals.

Stantec has secured an $18 million contract with the U.S. Army Corps of Engineers for a five-year architecture and engineering task order to support civil works projects in Alaska. The projects will focus on ecosystem restoration, storm damage reduction, and village relocation, among others. Stantec has a longstanding relationship with USACE and has delivered thousands of civil works projects over nearly 50 years in Alaska. The company aims to address climate change impacts and enhance resiliency in local communities.

Stantec (TSX, NYSE: STN) announced its first quarter 2022 financial results will be released after market close on May 11, 2022. A conference call will follow on May 12, 2022, at 7:00 AM Mountain Time to discuss the company's performance, featuring CEO Gord Johnston and CFO Theresa Jang. Interested participants can access the live webcast at this link or join via telephone. Stantec emphasizes designing with community in mind, focusing on clients and innovative solutions.

Stantec has been appointed to provide planning and design services for the new Mississauga Hospital, part of Trillium Health Partners' efforts to enhance healthcare facilities. This project aims to replace the existing hospital, increasing capacity to more than 950 beds and expanding the number of operating rooms from 14 to 23. The new facility will span 2.8 million square feet and be the largest hospital in Canada, equipped with advanced technology and improved emergency services, addressing the growing healthcare needs of the community.

Stantec (TSX, NYSE:STN) has announced plans to acquire Barton Willmore, the UK’s leading planning and design consulting firm, with closure expected in early April 2022. Barton Willmore, founded in 1936, employs over 300 professionals and is involved in major projects across various sectors. This acquisition aims to enhance Stantec's project delivery capabilities and strengthen its presence in the UK market, where it will add over 2,500 team members. Financial terms of the deal were not disclosed.

Stantec, listed as TSX and NYSE:STN, reported robust financial results for Q4 and the fiscal year ending December 31, 2021. The company achieved a record annual net revenue of $3.6 billion, a 2.6% increase year-over-year, driven by acquisitions and strong performances in Canada and globally. Q4 earnings per share (EPS) reached $0.15, with adjusted diluted EPS of $0.57. Stantec expects 2022 net revenue growth between 18% and 22%, bolstered by a strong backlog of $5.1 billion and benefits from infrastructure stimulus spending. Adjusted EPS guidance for 2022 ranges from 22% to 26% growth.

Stantec has been selected by the Southern Nevada Water Authority for the US$125 million Stage II Reliability Upgrades Project, enhancing water access in the Las Vegas Valley. This project addresses water scarcity concerns heightened by a two-decade drought and Lake Mead's water shortage declaration. Stantec will design a new 90 MGD Flamingo Pumping Station and a pipeline to improve resilience and capacity. The initiative is part of a broader US$3.17 billion capital plan to fortify the regional water supply infrastructure.