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 reported strong Q1 2024 results with 19% growth in diluted earnings per share and 23% growth in adjusted diluted earnings per share. Record net revenue of $1.4 billion, 11.5% increase over Q1 2023. Adjusted EBITDA margin of 15.5%, up 90 basis points. Adjusted diluted EPS of $0.90, up 23.3%. Record backlog of $7.0 billion, up 11.5% since Dec 31, 2023. Completed three acquisitions. Dividend of $0.21 per share declared. Reaffirmed 2024 annual targets.
Stantec, a global leader in sustainable design and engineering, has acquired Hydrock, a UK integrated engineering design firm, expanding its UK workforce by over 30%. The acquisition aims to diversify expertise and bolster offerings in energy, buildings, and infrastructure markets. The transaction closed on April 30, with undisclosed terms. Hydrock's addition enhances Stantec's capabilities in fire safety, energy, sustainability, civil and structural, MEP, transport, environmental, and geotechnical services, aligning with both companies' commitment to sustainable operations and inclusive cultures.
Stantec, a global leader in sustainable design and engineering, has been selected by BC Hydro to provide transmission and distribution engineering services for the electrical infrastructure in British Columbia, Canada. The CAD$186-million master services agreement is part of BC Hydro's 10-year capital plan to modernize its electrical grid and provide clean, reliable energy to communities throughout British Columbia. Stantec will supply a range of engineering services, project management, and oversight for this initiative.
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