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.
May Mobility and Stantec have announced a partnership to enhance autonomous vehicle (AV) microtransit solutions. The collaboration aims to utilize Stantec's community engagement and May Mobility's AV technology to develop and implement optimized microtransit services globally. This alliance will focus on infrastructure development and the deployment of AVs across commercial and municipal settings. May Mobility's expertise includes over 320,000 AV rides in the U.S. and Japan, emphasizing safety and accessibility. The partnership signifies a step towards creating innovative, sustainable transportation solutions tailored to community needs.
Stantec has appointed Celina Wang Doka to its Board of Directors, effective March 1, 2023. With a background as a retired audit partner at KPMG, she brings extensive experience in accounting and auditing for diverse industries including civil engineering and life sciences. Ms. Wang Doka led KPMG's Building, Construction, and Real Estate practice in Orange County and has held several leadership roles in non-profit and academic boards. This strategic appointment aims to strengthen Stantec's governance and enhance its commitment to community-focused design and engineering.
Stantec reported record financial results for 2022, with net revenue reaching $4.5 billion, a 22.6% increase from 2021 driven by 9.4% organic growth and 12.3% from acquisitions. Adjusted diluted EPS rose 29.3% to $3.13. The contract backlog increased 14.9% to $5.9 billion. A strong fourth quarter saw net revenue rise 23.4% to $1.1 billion, with adjusted EBITDA margin at 17.0%. Stantec expects 2023 revenue growth between 7% and 11%, supported by ongoing public and private investment initiatives.
Stantec (STN) has announced a substantial partnership with Qcells to support a historic $2.5 billion solar manufacturing facility in Georgia, the largest of its kind in the US. This initiative aims to increase Qcells' solar module production capacity from 1.7 gigawatts in 2022 to 8.4 gigawatts by 2024, resulting in the creation of 2,500 jobs. The project is backed by the Inflation Reduction Act, facilitating tax credits for solar component manufacturers, and signifies a shift towards domestic solar manufacturing. This strategic move could reduce the US's reliance on foreign PV manufacturers while bolstering local economies.
Stantec has been appointed as the prime consultant for Highland Fairview’s World Logistics Center in Moreno Valley, California, a project with an estimated investment of US$25 billion.
This logistics hub, covering a 4-square-mile area, aims to be North America's largest net zero logistics development, incorporating 40 million square feet for various facilities.
Planned to create over 33,000 jobs and generate US$22 million in taxes annually, it also promises significant sustainability efforts, including a 70% reduction in water usage and extensive solar power integration.
Stantec (TSX, NYSE: STN) will announce its fourth quarter and full-year 2022 financial results on February 22, 2023, after market close. A webcast and conference call will take place on February 23, 2023, at 7:00 AM MT (9:00 AM ET) featuring CEO Gord Johnston and CFO Theresa Jang, who will provide insights into the company's performance. Participants can register for the call to engage in Q&A. The event will be accessible via the company's website, highlighting Stantec's commitment to community-focused design and innovation.
Stantec has secured a US$41 million contract to design a 33.9-mile extension of the California High-Speed Rail from Merced to Madera. This vital segment connects Los Angeles and San Francisco, involving the construction of 40 structures over approximately two years. The project, partly financed by US$25 million in federal funding, aims to enhance California's transportation infrastructure. Stantec has a proven track record with the California High-Speed Rail, having collaborated on various projects for the past eight years.
Stantec, a leader in sustainable design and engineering, has launched four innovative digital products on the Microsoft Azure Marketplace. This collaboration enhances the accessibility of tools like Financial Analysis & Management System (FAMS), Flood Manager, Flood Predictor, and the Connect Platform for communities and businesses. These cloud-based solutions are designed to assist in financial planning, flood risk assessment, and provide on-demand engineering and design services. This partnership aligns with Stantec's vision to support clients through cutting-edge technology.
Stantec has been awarded a contract by the Federal Aviation Administration to design a new airport traffic control tower and a terminal radar approach control base building in Anchorage, Alaska. This project addresses increasing air traffic demands at Ted Stevens Anchorage International Airport, which serves 5.7 million passengers annually. The new tower, over 300 feet tall, will enhance operational capacity and safety, especially in seismic conditions. The design focuses on sustainability and operational efficiency, marking a significant advancement for aviation infrastructure in Alaska.
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