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 has been recognized by Corporate Knights as the top firm in Canada’s Best 50 Corporate Citizens of 2021, evaluated from 271 companies on 24 ESG indicators. This recognition follows its ranking as the fifth most sustainable company globally. Stantec has also received the CDP classification of A- for climate leadership for three consecutive years, and accolades for diversity and inclusion. The company aims for carbon neutrality in 2022 and net-zero operations by 2030.
The Regional Transportation Commission of Southern Nevada has selected Stantec to implement the GoMed Program aimed at enhancing travel efficiency in the Las Vegas Medical District. This advanced mobility initiative will integrate autonomous vehicles, connected technologies, and traffic management systems, paving the way for one of the first long-term deployments of AV shuttles globally. Funded by a USDOT BUILD program award, the program prioritizes safety and accessibility, providing on-demand services to patients and staff across a 674-acre healthcare cluster.
Stantec held its virtual annual shareholder meeting on May 6, 2021, with 91,278,146 shares (81.86% of outstanding shares) represented. All nine nominees for the Board of Directors were elected, receiving favorable votes ranging from 86.16% to 99.80%. Ernst & Young LLP was reappointed as auditors with 94.26% support. Shareholders expressed strong approval (96.69%) for the executive compensation approach. Additionally, the amendment and restatement of By-law No. 1 was confirmed with 97.73% support. Stantec emphasizes community-focused design and innovation across global projects.
Stantec (TSX, NYSE:STN) reported Q1 2021 results with net income increasing by 28.2% to $50.9 million and diluted EPS rising 76.9% to $0.46. Despite an 8.0% decline in net revenue compared to Q1 2020, adjusted net income grew by 3.3% to $56.1 million. The company reaffirmed 2021 guidance with expectations of low to mid-single digit organic revenue growth, bolstered by a 5.8% organic growth in backlog. Operating cash inflows increased significantly to $55.7 million, and net debt to adjusted EBITDA stands at 0.8x, below the target range.
Stantec has launched Stantec.io, an integrated digital services initiative aimed at enhancing client project solutions through emerging technologies. This service, embedded within Stantec's business lines, employs tools such as cloud computing, machine learning, AR/VR, and IoT to deliver customized solutions across industries. Stantec.io includes proprietary offerings like Insight Analytics, Connect, and FAMS. The initiative is part of Stantec's Digital Strategy Framework and seeks to improve operational efficiency and client service delivery.
Stantec has secured a five-year, $60 million contract from the US Navy’s NAVFAC Mid-Atlantic to lead architect-engineer services across Northeastern US naval facilities. The contract focuses on planning, design, and construction for waterfront projects, including those at Portsmouth Naval Shipyard. This contract builds on Stantec's 60-year relationship with NAVFAC and enhances its existing capacity, which recently increased to $90 million. Stantec’s multidisciplinary team will also support essential projects related to the Navy’s $20 billion Shipyard Infrastructure Optimization Program.
Stantec will announce its Q1 2021 financial results on May 5, 2021, after market close. A conference call is scheduled for May 6 at 7:00 AM MT, featuring CEO Gord Johnston and CFO Theresa Jang. They will discuss the company's performance during this call, which will be accessible via a live webcast. Investors can also dial in to participate. Stantec, trading under the symbol STN on the TSX and NYSE, emphasizes community-focused design in its operations.
Stantec has signed a letter of intent to acquire Engenium, a consultancy in mining and industrial infrastructure, expected to close in Q2 2021. This acquisition aligns with Stantec's strategy to enhance its mining business in Australia and adds Engenium's expertise in renewable energy and sustainability, which complements Stantec's existing capabilities. Engenium's portfolio includes significant projects like the Goldfields Solar and Pilgangoora Lithium Project.
With over 170 staff, Engenium boosts Stantec's presence in the region, following previous acquisitions aimed at growth in Australia/New Zealand.
Stantec has been selected as the building services engineer for the AUD$1.5 billion Footscray Hospital project in Victoria, a public-private partnership. The project, led by Plenary Health, will enhance healthcare accessibility in Melbourne's west, with construction expected to start soon and completion targeted for 2025. Stantec will provide various engineering services, contributing to a facility focused on efficiency and technology. The consortium includes prominent partners like Multiplex and Honeywell, highlighting collaboration in healthcare infrastructure development.
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