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Stantec Inc. reports news on its sustainable design, engineering, architecture, and environmental consulting business. Company updates commonly cover financial results, backlog and outlook, dividend actions, normal course issuer bids, and annual shareholder meeting materials.
Stantec news also includes multidisciplinary project awards and client selections across infrastructure, water and wastewater, energy transition, buildings, environmental services, and public-sector programs. Recurring themes include work tied to aging infrastructure, community development, sustainable energy, climate resilience, and regional activity in Canada, the United States, and global markets.
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.
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.
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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.