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 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.
Stantec (TSX, NYSE:STN) reported strong Q1 2022 results, featuring a 19.5% increase in net revenue to CAD 1.05 billion. Adjusted diluted EPS rose 22.0% to CAD 0.61. The company’s backlog reached a record CAD 5.4 billion, indicating 6.8% organic growth. Despite an inflow of CAD 6 million in operating cash flows, net income decreased 12.0% to CAD 44.8 million due to higher administrative expenses. The leadership emphasized their focus on sustainability, with 53% of revenues linked to UN Sustainability Development Goals.
Stantec has secured an $18 million contract with the U.S. Army Corps of Engineers for a five-year architecture and engineering task order to support civil works projects in Alaska. The projects will focus on ecosystem restoration, storm damage reduction, and village relocation, among others. Stantec has a longstanding relationship with USACE and has delivered thousands of civil works projects over nearly 50 years in Alaska. The company aims to address climate change impacts and enhance resiliency in local communities.
Stantec (TSX, NYSE: STN) announced its first quarter 2022 financial results will be released after market close on May 11, 2022. A conference call will follow on May 12, 2022, at 7:00 AM Mountain Time to discuss the company's performance, featuring CEO Gord Johnston and CFO Theresa Jang. Interested participants can access the live webcast at this link or join via telephone. Stantec emphasizes designing with community in mind, focusing on clients and innovative solutions.
Stantec has been appointed to provide planning and design services for the new Mississauga Hospital, part of Trillium Health Partners' efforts to enhance healthcare facilities. This project aims to replace the existing hospital, increasing capacity to more than 950 beds and expanding the number of operating rooms from 14 to 23. The new facility will span 2.8 million square feet and be the largest hospital in Canada, equipped with advanced technology and improved emergency services, addressing the growing healthcare needs of the community.
Stantec (TSX, NYSE:STN) has announced plans to acquire Barton Willmore, the UK’s leading planning and design consulting firm, with closure expected in early April 2022. Barton Willmore, founded in 1936, employs over 300 professionals and is involved in major projects across various sectors. This acquisition aims to enhance Stantec's project delivery capabilities and strengthen its presence in the UK market, where it will add over 2,500 team members. Financial terms of the deal were not disclosed.
Stantec, listed as TSX and NYSE:STN, reported robust financial results for Q4 and the fiscal year ending December 31, 2021. The company achieved a record annual net revenue of $3.6 billion, a 2.6% increase year-over-year, driven by acquisitions and strong performances in Canada and globally. Q4 earnings per share (EPS) reached $0.15, with adjusted diluted EPS of $0.57. Stantec expects 2022 net revenue growth between 18% and 22%, bolstered by a strong backlog of $5.1 billion and benefits from infrastructure stimulus spending. Adjusted EPS guidance for 2022 ranges from 22% to 26% growth.
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