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.
News about Stantec Inc. (STN) focuses on its activities as a global provider of sustainable engineering, architecture, and environmental consulting services. Investors and observers following STN news can see how the company’s projects, contracts, and financial results reflect broader themes such as infrastructure renewal, water and wastewater investment, and the global energy transition.
Recent announcements highlight major project wins and long-term framework roles. For example, Stantec has been named a preferred bidder to act as a primary designer for the Scottish Water Enterprise, a multibillion-pound program to transform Scotland’s water and wastewater networks. The company also reports on its role in the European Commission’s Global Technical Assistance Facility for Sustainable Energy, where it provides technical assistance, policy and regulatory support, investment planning, and capacity building across multiple regions.
STN news coverage also includes quarterly earnings releases and outlook updates. These reports discuss net revenue growth, adjusted EBITDA margins, contract backlog, and management’s expectations for organic and acquisition-driven growth across its Canada, United States, and Global segments. Commentary from leadership often addresses demand trends in Water, Energy & Resources, Infrastructure, and Buildings, as well as the impact of acquisitions on the company’s service mix.
Corporate and capital markets updates appear in the news flow as well, such as the pricing and closing of senior unsecured notes offerings, changes to credit facilities, and results of the annual meeting of shareholders. Stantec also issues news about its Stantec Future Leaders Scholarship, which supports students in STEAM fields through scholarships and internships.
By monitoring this STN news page, readers can review a stream of press releases and related items covering project awards, strategic programs, financial performance, financing activities, governance decisions, and community and talent initiatives connected to Stantec’s global consulting business.
Stantec has become a partner in the United Nations Decade on Ecosystem Restoration, emphasizing its leadership in global ecosystem restoration efforts. The initiative, running from 2021 to 2030, aims to combat ecosystem degradation worldwide and supports the UN's 17 Sustainable Development Goals. Stantec is the first design and engineering firm to be recognized as an actor partner, developing restoration programs and supporting ground activities. The company has a dedicated team of over 1,000 ecosystem restoration professionals and has restored over 40,000 acres and 1,000 miles of rivers globally.
Stantec (TSX, NYSE: STN) will release its third quarter 2022 financial results on November 10, 2022, after market close. A conference call is scheduled for November 11, 2022, at 7:00 AM MT (9:00 AM ET) to discuss the company's performance. The call will include a webcast and slide presentation, accessible via Stantec's Investor section. Analysts wishing to participate in the Q&A must register in advance. Stantec emphasizes its commitment to community-focused design, integrating diverse perspectives to enhance quality of life globally.
Stantec (TSX, NYSE: STN) has signed a Letter of Intent to acquire L2P, a Philadelphia-based architecture and design firm specializing in science and technology sectors. L2P, founded in 2009, enhances Stantec's offerings in commercial workplaces and educational facilities. This acquisition will leverage L2P's expertise in strategic asset planning and sustainable design, aligning with Stantec's goal of innovative architecture. Notable projects by L2P include the Air Products headquarters and the Chemours Discovery Hub. The financial terms of the transaction remain undisclosed.
Stantec has been appointed as the Engineer of Record for the second phase of the Gross Reservoir Expansion (GRE) Project in Boulder County, Colorado. This US$531 million initiative will raise the existing dam by 131 feet, making it the tallest dam in Colorado and increasing its capacity to approximately 119,000 acre-feet. The project aims to enhance water security for over 1.5 million residents. Stantec's contract for the construction phase is valued at US$20 million and includes comprehensive engineering support to ensure project compliance and quality.
Stantec has been awarded a five-year, US$30 million contract by NAVFAC Southwest to provide architect-engineer and consulting services focusing on encroachment management and mission readiness at Navy and Marine Corps facilities in Southern California.
This contract expands Stantec's collaboration with NAVFAC, following successful previous projects including the development of an enterprise decision-support system. The scope includes land use planning, geospatial analysis, and other specialized studies to mitigate encroachment impacts.
Cadiz Inc. (NASDAQ: CDZI/CDZIP) is set to start construction on three new groundwater wells at Cadiz Ranch in October 2022, increasing its wellfield capacity to 36,000 acre-feet per year, a 33% boost from current capacity. An engineering study for the Northern Pipeline Project, which aims to convert an existing oil and gas pipeline to transport water, is complete. This pipeline can deliver approximately 25,000 acre-feet of water uphill to Barstow and 30,000 acre-feet downhill for storage. The project aims to address water scarcity in California.
Stantec has been selected to conduct a $16 million feasibility study for the Resolution Copper project in Arizona, aiming to supply up to 25% of US copper demand annually. This underground mine is expected to be one of North America's largest copper producers, providing vital materials for the energy transition, including electric vehicles and solar panels. Stantec's involvement includes engineering services and plans to utilize battery electric vehicles to achieve zero carbon emissions.
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.