Stantec Stock Price, News & Analysis

Stantec, a global design and engineering firm, has been named lead engineer for the AUS$695 million ECU City project in Perth, part of the Perth City Deal. This project aims to rejuvenate the Central Business District and create approximately 10,000 jobs. Stantec will provide civil, structural engineering, and planning services for the 60,000-square-meter campus, which is expected to host over 11,000 students by 2034. Construction is projected to start in 2021, with completion expected in 2025, enhancing Stantec's regional presence following several acquisitions.

Stantec (TSX, NYSE:STN) reported strong Q2 2021 results with adjusted diluted EPS up 19.2% to $0.62. The company raised its full-year earnings guidance, now expecting a 4% to 7% growth compared to the previous 1% to 5%. Revenue increased by 2.2% on a constant currency basis, reflecting solid project execution and organic growth. Net income rose 20.2% to $63.2 million, supported by lower interest expenses and effective tax strategies. Contract backlog reached $4.6 billion with double-digit growth in Energy & Resources, while overall operating cash flows fell by 68.9%. A dividend of $0.165 per share was declared.

Stantec (TSX, NYSE: STN) has signed a letter of intent to acquire Paleo Solutions, a consulting firm specializing in natural and cultural resource management. This acquisition aims to enhance Stantec's Environmental Services by integrating Paleo Solutions’ expertise in paleontology and cultural resources management. The transaction is set to close in Q4 2021. Paleo Solutions is well-positioned to capitalize on the growing demand for sustainable project delivery, especially within the renewable energy sector, reflecting Stantec's commitment to environmental sustainability.

On July 20, 2021, 374Water (PWVI) announced a partnership with Stantec to evaluate and support the design of its AirSCWO Nix6 systems. Stantec will serve as the owner's representative, participating in design meetings and operations review support. The AirSCWO technology aims to efficiently process organic waste and eliminate contaminants like PFAS and microplastics. Following its recent equity funding, 374Water plans to deploy its first units in the first half of 2022.

Stantec has been awarded design and engineering contracts for three K-12 district bond programs in Texas and Michigan, with a total value of approximately US$260 million.

The projects involve renovations, expansions, and technology upgrades to improve educational facilities. Key projects include renovations at Brackenridge High School in San Antonio and new schools in Bastrop, Texas. In Caledonia, Stantec will design a new Athletic Complex scheduled for completion in 2022. The firm emphasizes its commitment to community-focused designs that address evolving educational needs.

Stantec, trading on TSX and NYSE under STN, will announce its Q2 2021 financial results post-market on August 4, 2021. A conference call with CEO Gord Johnston and CFO Theresa Jang is scheduled for August 5, 2021, at 7:00 AM Mountain Time. Investors can access the live webcast and slides at this link, or dial 1-888-204-4368 for participation. Stantec focuses on community-driven design and aims to enhance the quality of life globally.

Stantec has been recognized by Corporate Knights as the top firm in Canada’s Best 50 Corporate Citizens of 2021, evaluated from 271 companies on 24 ESG indicators. This recognition follows its ranking as the fifth most sustainable company globally. Stantec has also received the CDP classification of A- for climate leadership for three consecutive years, and accolades for diversity and inclusion. The company aims for carbon neutrality in 2022 and net-zero operations by 2030.

The Regional Transportation Commission of Southern Nevada has selected Stantec to implement the GoMed Program aimed at enhancing travel efficiency in the Las Vegas Medical District. This advanced mobility initiative will integrate autonomous vehicles, connected technologies, and traffic management systems, paving the way for one of the first long-term deployments of AV shuttles globally. Funded by a USDOT BUILD program award, the program prioritizes safety and accessibility, providing on-demand services to patients and staff across a 674-acre healthcare cluster.

Stantec held its virtual annual shareholder meeting on May 6, 2021, with 91,278,146 shares (81.86% of outstanding shares) represented. All nine nominees for the Board of Directors were elected, receiving favorable votes ranging from 86.16% to 99.80%. Ernst & Young LLP was reappointed as auditors with 94.26% support. Shareholders expressed strong approval (96.69%) for the executive compensation approach. Additionally, the amendment and restatement of By-law No. 1 was confirmed with 97.73% support. Stantec emphasizes community-focused design and innovation across global projects.