From GlobeNewswire: 2024-11-07 17:05:00

In Q3 2024, Stantec reported record net revenue of $1.5 billion, a 15.8% increase from Q3 2023. Adjusted EBITDA increased by 13.8% to $274.6 million, and backlog reached $7.3 billion. CEO Gord Johnston expressed confidence in meeting 2024 targets. Revised guidance includes a net revenue growth range of 14.5% to 15.0%, adjusted EPS growth of 16% to 18%, and an adjusted ROIC above 12%.

Year-to-date, Q3 2024 saw Stantec’s net revenue increase by 14.8% to $4.4 billion, with organic growth in all segments except Energy & Resources. Project margin increased by 14.8% to $2.4 billion, and adjusted EBITDA rose by 15.3% to $733.8 million. Adjusted diluted EPS grew by 15.7% to $3.31.

Stantec’s Q3 2024 financial highlights included a net revenue increase of 15.8% to $1.5 billion, primarily driven by acquisitions and organic growth. Adjusted EBITDA reached $274.6 million, net income rose to $103.2 million, and diluted EPS was $0.90. Contract backlog stood at $7.3 billion as of September 30, 2024.

Stantec’s Q3 2024 results showed growth across all segments, with net revenue up by 15.8% to $1.5 billion. The company achieved double-digit organic growth in Water and Buildings businesses. Adjusted EBITDA reached $274.6 million, and contract backlog increased to $7.3 billion. Operating cash flows decreased by 15.9% to $178.9 million.

Stantec’s 2024 targets include a revised net revenue growth range of 14.5% to 15.0%, adjusted EPS growth of 16% to 18%, and an adjusted ROIC above 12%. The company reaffirms expectations for organic net revenue growth and maintains a target range for adjusted EBITDA margin at 16.5% to 16.9%.

Stantec’s strong performance in Q3 2024 led to record net revenue of $1.5 billion, a 15.8% increase from Q3 2023. Adjusted EBITDA grew by 13.8% to $274.6 million, with adjusted diluted EPS reaching $1.30. Contract backlog increased to $7.3 billion, indicating continued growth opportunities for the company.



Read more at GlobeNewswire:: Stantec reports strong third quarter 2024 results, raises