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 partnered with BlueSky Resources to enhance its remote sensing and climate change service capabilities. This collaboration will provide clients with near real-time emission and air pollutant data, facilitating better decision-making for compliance and operations management. Stantec's Innovation Office will invest seed capital in BlueSky to support its technology development, focusing on improving environmental monitoring services. This strategic alliance signifies Stantec's commitment to sustainability, as it aims to achieve operational net-zero by 2030 and was recognized as one of the most sustainable companies globally.
Stantec reported a strong performance for Q4 and FY 2020, with adjusted net income up 10.6% to $248.9 million and diluted EPS increasing 9.9% to $2.22. Despite a slight revenue decline of 0.7% primarily driven by a pandemic-related 1.8% organic retraction, the company affirmed its 2021 guidance. A dividend of $0.165 per share was declared, representing a 6.5% annual increase. Stantec's strategic initiative aims for a 30% reduction in real estate footprint by 2023, enhancing operational efficiency and net income. The firm also maintained a healthy backlog of $4.4 billion, providing a solid outlook for growth.
The Washington Metropolitan Area Transit Authority (WMATA) has partnered with Hensel Phelps and Stantec for the construction of a US$225 million Rail Heavy Repair and Overhaul Facility in Maryland. This project aims to enhance railcar maintenance and operations in the second busiest rapid transit system in the U.S., serving over 625,000 daily riders. Scheduled for completion in Q4 2024, the facility will feature advanced design elements and a focus on sustainability, aiming for LEED Platinum certification.
Stantec has signed an agreement to acquire GTA Consultants, an Australia-based firm specializing in transportation planning and engineering, set to close on March 1, 2021. While financial details were not disclosed, this acquisition enhances Stantec's capabilities in Australia and New Zealand, expanding its workforce with over 135 technical staff. GTA's experience with significant transportation projects aligns with Stantec's commitment to sustainability and infrastructure development, positioning the company to capitalize on market opportunities.
Stantec has committed to achieving carbon neutrality by 2022 and net-zero operations by 2030 as part of its sustainable practices. This pledge aligns with the Paris Agreement's goal to limit global temperature rise to 1.5°C. The company aims to set science-based emissions reduction targets, addressing emissions through renewable energy certificates and certified carbon offsets. Stantec sees this commitment as both an environmental responsibility and a business opportunity, supporting innovative solutions through its Innovation Office. They are also involved in various sustainable projects globally.
Stantec, trading on TSX and NYSE as STN, is set to release its fourth quarter and full-year 2020 financial results on February 24, 2021, after market hours. A conference call is scheduled for February 25, 2021, at 7:00 AM MT (9:00 AM ET), featuring CEO Gord Johnston and CFO Theresa Jang.
The call will provide insights into Stantec's performance and can be accessed via a webcast. Participants can listen in via phone by calling 1-866-548-4713 (toll-free) or +1-647-484-0477 (international).
Stantec has been recognized as the fifth most sustainable company globally and the most sustainable in Canada by Corporate Knights in their 2021 Global 100 rankings. The evaluation analyzed over 8,000 companies using 24 key performance indicators. Stantec's clean revenues and investments were highest in its industry group, contributing significantly to its score. Additionally, the company received an A- rating from CDP for three consecutive years, emphasizing its commitment to sustainability.
Stantec, in partnership with Merrick and Dialog, has secured a CA$100 million contract from the Government of Canada for the renewal of federal research facilities.
The initiative spans five years, aimed at establishing laboratory standards and innovative designs as part of a CA$2.8 billion investment. The joint venture, named FRAMEWORK, will enhance Canada’s science infrastructure.
The project emphasizes sustainable design and aims to modernize laboratory environments to meet future scientific needs, incorporating advanced technologies like automation and AI.
Stantec, a global engineering and design firm, has signed a Letter of Intent to acquire Wenck, an environmental engineering firm based in the US. Founded in 1985, Wenck specializes in air, water, waste, and infrastructure solutions. This acquisition will enhance Stantec's environmental services, especially in the US Midwest, by adding expertise in key areas like air quality and resource management. The transaction's terms were not disclosed, but it is seen as a strategic move to strengthen Stantec's market position in various sectors including energy and infrastructure.
Stantec has announced the acquisition of AGEL adviseurs, a multi-discipline engineering firm based in the Netherlands, enhancing its capabilities in the region. This strategic move allows Stantec to better serve clients nationwide and expand its portfolio in environmental services, spatial development, and the energy transition. AGEL's expertise will complement Stantec's existing services and positions the company for organic growth. The transaction details were not disclosed, but it is anticipated to strengthen Stantec's presence in the Netherlands' southwest and central regions.
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