Stantec Inc. (STN) shares surged 5.22% in Tuesday's pre-market session following the company's announcement of record Q4 and full-year 2024 results. The sustainable design and engineering firm reported:
- Q4 adjusted EPS of C$1.11, beating estimates of C$0.99
- Full-year 2024 net revenue up 15.8% to C$5.9 billion, driven by 7.4% organic growth
- Raised quarterly dividend by 7.1% to C$0.225 per share
- Record contract backlog of C$7.8 billion, up 24.1% year-over-year
For 2025, Stantec provided an optimistic outlook, targeting net revenue growth of 7%-10% and adjusted EPS growth of 16%-19%. The company cited favorable macro trends including water security, aging infrastructure, climate change, and advanced manufacturing driving resilient demand.
Additionally, Stantec announced it was selected by Cadiz Inc. to serve as the Owner's Engineer for the Mojave Groundwater Bank project, a major new water infrastructure initiative in California's Mojave Desert.
The strong Q4 results, raised dividend, record backlog, positive 2025 guidance, and high-profile project win likely fueled investor optimism, driving Stantec's shares higher in pre-market trading.
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