Stantec Stock Price, News & Analysis

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 The project aims to modernize outdated infrastructure to meet evolving regulatory requirements and climate challenges, utilizing a progressive design-build model for efficiency.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.

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.