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. 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 recognized as the fifth most sustainable company globally and the most sustainable in Canada by Corporate Knights in their 2021 Global 100 rankings. The evaluation analyzed over 8,000 companies using 24 key performance indicators. Stantec's clean revenues and investments were highest in its industry group, contributing significantly to its score. Additionally, the company received an A- rating from CDP for three consecutive years, emphasizing its commitment to sustainability.
Stantec, in partnership with Merrick and Dialog, has secured a CA$100 million contract from the Government of Canada for the renewal of federal research facilities.
The initiative spans five years, aimed at establishing laboratory standards and innovative designs as part of a CA$2.8 billion investment. The joint venture, named FRAMEWORK, will enhance Canada’s science infrastructure.
The project emphasizes sustainable design and aims to modernize laboratory environments to meet future scientific needs, incorporating advanced technologies like automation and AI.
Stantec, a global engineering and design firm, has signed a Letter of Intent to acquire Wenck, an environmental engineering firm based in the US. Founded in 1985, Wenck specializes in air, water, waste, and infrastructure solutions. This acquisition will enhance Stantec's environmental services, especially in the US Midwest, by adding expertise in key areas like air quality and resource management. The transaction's terms were not disclosed, but it is seen as a strategic move to strengthen Stantec's market position in various sectors including energy and infrastructure.
Stantec has announced the acquisition of AGEL adviseurs, a multi-discipline engineering firm based in the Netherlands, enhancing its capabilities in the region. This strategic move allows Stantec to better serve clients nationwide and expand its portfolio in environmental services, spatial development, and the energy transition. AGEL's expertise will complement Stantec's existing services and positions the company for organic growth. The transaction details were not disclosed, but it is anticipated to strengthen Stantec's presence in the Netherlands' southwest and central regions.
Stantec Inc. has appointed Martin à Porta to its Board of Directors, effective January 1, 2021. With 25 years of experience in professional services and industrial sectors, à Porta previously served as CEO of Pöyry Plc and held senior roles at Siemens. He brings expertise in consulting and transformation across various industries including power, forestry, and environmental services. His appointment is expected to enhance Stantec's strategic direction and operational capabilities in the market, aligning with their community-focused mission.
Stantec has been selected to provide planning and design services for the new South Niagara Hospital in Ontario, which aims to be among the first healthcare facilities in Canada to achieve WELL certification. The hospital will occupy 1.3 million square feet, featuring 470 beds and various specialized care centers, and is scheduled to open in 2027. This facility aims to enhance healthcare access and improve patient experiences in the region, addressing the growing need for healthcare services.
Stantec has launched Stantec GenerationAV™, a comprehensive consulting program aimed at facilitating the deployment of autonomous vehicle (AV) projects. The initiative addresses major obstacles such as technology supplier selection, regulatory compliance, and efficient deployment roadmaps. Stantec GenerationAV™ leverages data-driven experiences from past projects and an extensive partnership network to enhance client resources. With a proven ability to accelerate AV deployments by three to six months, the program is expected to bolster safety, efficiency, and community-wide benefits.
Stantec Inc. (STN) announced the renewal of its Normal Course Issuer Bid (NCIB), allowing it to repurchase up to 5,605,224 common shares, about 5% of its outstanding shares. This initiative begins on November 16, 2020, and lasts until November 15, 2021. Stantec's previous NCIB resulted in the purchase of 1,151,244 shares at a weighted average price of $36.82. The company aims to enhance shareholder returns, reinforcing its capital strategy alongside organic growth and debt management.
Stantec reported Q3 2020 adjusted net income of $69.9 million, a 5.4% increase from Q3 2019, with adjusted diluted EPS rising to $0.62. Despite a 3.8% decrease in net revenue, the company managed to maintain adjusted EBITDA at 17.3%. The contract backlog increased to $4.8 billion, signaling strong future work. Operating cash flows also rose 17.8% to $163.8 million. The Board declared a dividend of $0.155 per share, payable in January 2021. Looking forward, Stantec anticipates muted revenue growth due to COVID-19 impacts but expects to remain resilient with strong earnings in 2021.
Stantec's Pure Water San Diego program has achieved a significant milestone by obtaining a National Pollutant Discharge Elimination System permit, enabling the addition of purified water to the Miramar Reservoir. This $3 billion initiative aims to supply sustainable water to over 1.4 million residents, enhancing the City's water independence. Upon completion in 2035, it will provide one-third of San Diego's water supply locally, significantly reducing reliance on imported water. Phase 1 funding and construction bids are currently underway, targeting a production of 30 million gallons of purified water per day.