The following is a summary of the Stantec Inc. (STN) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Stantec reported record third-quarter net revenue of CAD 1.5 billion, up almost 16% compared to the same quarter in 2023.

• Adjusted EBITDA rose to CAD 275 million, reflecting a healthy margin of 18%.

• Adjusted earnings per share (EPS) increased by 14% to CAD 1.30.

• Solid net revenue growth was seen across all key geographies with significant contributions from acquisitions and organic growth.

• Gross revenue for Q3 stood at CAD 1.9 billion, reflecting nearly 14% growth year-over-year.

Business Progress:

• Stantec saw a significant increase in backlog, reaching a record CAD 7.3 billion, indicative of continued strong demand.

• The company achieved notable growth in water and infrastructure segments globally with major project awards in the UK and ongoing work in North America.

• Expansion in data center projects and renewable energy sectors exemplifies Stantec's diversification.

• Noteworthy project awards during the quarter include significant framework agreements in the UK's regulated water business and a master services agreement with LUMA Energy in Puerto Rico for grid reconstruction projects.

Opportunities:

• Stantec plans to capitalize on robust public and private sector investments across its operating regions, especially in infrastructure and water security projects.

• Recent regulatory changes in the UK and potential shifts in the US regulatory environment could represent enhanced business opportunities in both regions.

Risks:

• Global operations in the Energy & Resources sector experienced a slight retraction, potentially offsetting growth in other geographical segments.

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