Stantec ( (STN) ) has released its Q3 earnings. Here is a breakdown of the information Stantec presented to its investors.
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Stantec is a global leader in sustainable design, architecture, and engineering services, offering innovative solutions for climate change, infrastructure, and environmental health. In their latest earnings report, Stantec showcased a robust financial performance for the third quarter of 2024, driven by strong revenue growth and strategic acquisitions. The company reported a 15.8% increase in net revenue compared to the previous year, with significant contributions from acquisitions and organic growth, particularly in the Water and Buildings sectors. Despite a slight decrease in project margins, adjusted EBITDA rose by 13.8%, reflecting solid operational performance. Stantec’s contract backlog remains strong at $7.3 billion, indicating continued demand across various sectors. Looking ahead, Stantec’s management maintains a positive outlook, expecting continued revenue growth and maintaining strong project execution capabilities, supported by strategic acquisitions and a robust pipeline of projects.
