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 selected by the National Association of Clean Water Agencies (NACWA) to conduct a comprehensive study on the financial impacts of PFAS (per- and polyfluoroalkyl substances) on wastewater management across the US. This project aims to assess compliance costs and their implications for the clean water community and ratepayers. With expected completion in early 2023, the study will build on past research to provide valuable insights for utilities and regulators tackling PFAS contamination, which poses significant health and environmental risks.
Stantec (TSX, NYSE:STN) reported Q2 2022 results with a strong performance, achieving 22.9% net revenue growth to $1.1 billion. Adjusted diluted EPS increased 33.9% to $0.83 from Q2 2021. The company’s contract backlog grew to a record $5.8 billion, reflecting 13% organic growth. Despite a 4% decline in net income to $60.7 million, the strategic execution and project margins increased. Full-year adjusted diluted EPS guidance forecasts 22% to 26% growth compared to 2021. Challenges include cash flow outflows of $4.4 million due to integration costs and increased working capital investments.
Stantec will announce its second quarter 2022 financial results on August 10, 2022, after market closure. A conference call led by CEO Gord Johnston and CFO Theresa Jang is scheduled for August 11, 2022, at 7:00 AM MT (9:00 AM ET) to discuss the company’s performance. Investors can access the webcast and presentation here. Stantec emphasizes its community-centric approach, integrating diverse expertise to enhance project quality globally.
Stantec has been appointed as the Program Management Consultant for the Iona Island Wastewater Treatment Plant (IIWWTP) Projects in Vancouver, British Columbia, under a $9.9 billion CAD capital program. This initiative represents Metro Vancouver's largest capital project, aiming to enhance human health and marine ecosystems. The project includes a new tertiary treatment facility and ecological restoration efforts, with completion anticipated by 2038, and commissioning expected in 2035.
Stantec, a leader in sustainable design and engineering, has been ranked as one of Canada’s Best 50 Corporate Citizens of 2022 by Corporate Knights, marking its 13th recognition. This accolade highlights Stantec's commitment to environmental, social, and governance (ESG) principles. The firm reported that 53% of its gross revenue aligns with the UN's Sustainable Development Goals, an increase from previous years. Additionally, Stantec became the first to link its financing strategy to the Bloomberg Gender-Equality Index score. Their ESG achievements have been recognized globally, enhancing their reputation in the industry.
Stantec has been selected to lead design services on Phase IV of the Boston Water and Sewer Commission's East Boston Sewer Separation project, part of a 30-year initiative to enhance water quality in Boston Harbor. This phase will separate 230 acres of combined sewer area and modernize infrastructure. Stantec's ongoing partnership with BWSC spans over 30 years and involves over 40 contracts totaling US$420 million. The project aims to improve water, sewer, and storm drainage systems to tackle the challenges of climate change and urban development.
Stantec has been awarded a significant contract for the Buffalo Pound Water Treatment Plant Renewal Project in Saskatchewan, valued at $273 million. This project will enhance water treatment capabilities for 260,000 residents in Moose Jaw and Regina. Stantec, in partnership with the Graham-Aecon Joint Venture, will oversee engineering during construction and commissioning. The project aims to modernize outdated infrastructure to meet evolving regulatory requirements and climate challenges, utilizing a progressive design-build model for efficiency. Completion is expected by 2025.
Stantec has secured a US$119 million contract to provide construction engineering and inspection services for the Honolulu Authority for Rapid Transportation's (HART) light rail project, the first driverless system in the U.S. This contract extends through 2026, with a potential five-year extension. The light rail aims to connect West Oahu with key locations, supporting a projected 10% population growth by 2045 and aiding in reducing carbon emissions. Stantec's workforce in Hawaii has grown significantly, now employing over 40 staff members.
Stantec has been selected to lead construction management for the US$220 million Blue Line Bus Rapid Transit (BRT) project in Indianapolis, enhancing public transit connectivity. This 24-mile battery-electric bus system will provide essential links to the airport and local routes. A significant funding source is the Federal Transportation Agency's Capital Investment Grants Program, contributing US$100 million. Stantec aims for a 25% participation goal for disadvantaged businesses, ensuring diversity in the supply chain.
Stantec Inc. held its annual virtual meeting on May 12, 2022, with 80.02% of shares represented. All nine director nominees were elected, receiving over 93% approval. PricewaterhouseCoopers was appointed auditor for 2022, with 99.85% votes in favor. Additionally, an advisory vote on executive compensation showed 98.21% support for the disclosed approach. Stantec emphasizes its commitment to community-focused design and engineering, maintaining its trading presence on the TSX and NYSE under the symbol STN.
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