Stantec Stock Price, News & Analysis

Stantec, a leader in sustainable design and engineering, will disclose its Q1 2023 financial results on May 10, 2023, after market close. A webcast and conference call to discuss performance will take place on May 11, 2023, at 7:00 AM MT. The call will be hosted by Gord Johnston, President and CEO, alongside Theresa Jang, Executive VP and CFO. Additionally, the company's Annual General Meeting of shareholders will be held on the same day at 10:30 AM MT. Registration for the conference call is recommended to participate in the Q&A session. The events and presentations section on Stantec's website will broadcast the meeting and offer further details.

Stantec, a leader in sustainable design and engineering, has released its 16th Annual Sustainability Report, highlighting significant strides in environmental, social, and governance (ESG) practices for 2022. Notably, 60% ($3.4 billion) of the company’s gross revenue is now aligned with the UN Sustainable Development Goals, up from 43% in 2019. The firm achieved operational carbon neutrality and formalized a climate change action strategy through its Climate Solutions Leadership team. Stantec is recognized for restoring over 40,000 acres of ecosystems and ranking as the seventh most sustainable corporation globally. Additional accolades include a fourth consecutive year on the Bloomberg Gender-Equality Index and being named a Top 50 STEM Workplace for Indigenous professionals.

May Mobility and Stantec have announced a partnership to enhance autonomous vehicle (AV) microtransit solutions. The collaboration aims to utilize Stantec's community engagement and May Mobility's AV technology to develop and implement optimized microtransit services globally. This alliance will focus on infrastructure development and the deployment of AVs across commercial and municipal settings. May Mobility's expertise includes over 320,000 AV rides in the U.S. and Japan, emphasizing safety and accessibility. The partnership signifies a step towards creating innovative, sustainable transportation solutions tailored to community needs.

Stantec has appointed Celina Wang Doka to its Board of Directors, effective March 1, 2023. With a background as a retired audit partner at KPMG, she brings extensive experience in accounting and auditing for diverse industries including civil engineering and life sciences. Ms. Wang Doka led KPMG's Building, Construction, and Real Estate practice in Orange County and has held several leadership roles in non-profit and academic boards. This strategic appointment aims to strengthen Stantec's governance and enhance its commitment to community-focused design and engineering.

Stantec reported record financial results for 2022, with net revenue reaching $4.5 billion, a 22.6% increase from 2021 driven by 9.4% organic growth and 12.3% from acquisitions. Adjusted diluted EPS rose 29.3% to $3.13. The contract backlog increased 14.9% to $5.9 billion. A strong fourth quarter saw net revenue rise 23.4% to $1.1 billion, with adjusted EBITDA margin at 17.0%. Stantec expects 2023 revenue growth between 7% and 11%, supported by ongoing public and private investment initiatives.

Stantec (STN) has announced a substantial partnership with Qcells to support a historic $2.5 billion solar manufacturing facility in Georgia, the largest of its kind in the US. This initiative aims to increase Qcells' solar module production capacity from 1.7 gigawatts in 2022 to 8.4 gigawatts by 2024, resulting in the creation of 2,500 jobs. The project is backed by the Inflation Reduction Act, facilitating tax credits for solar component manufacturers, and signifies a shift towards domestic solar manufacturing. This strategic move could reduce the US's reliance on foreign PV manufacturers while bolstering local economies.

Stantec has been appointed as the prime consultant for Highland Fairview’s World Logistics Center in Moreno Valley, California, a project with an estimated investment of US$25 billion.

This logistics hub, covering a 4-square-mile area, aims to be North America's largest net zero logistics development, incorporating 40 million square feet for various facilities.

Planned to create over 33,000 jobs and generate US$22 million in taxes annually, it also promises significant sustainability efforts, including a 70% reduction in water usage and extensive solar power integration.