Stantec reports financial results for 2014
Declaring its year-end results for 2014 as “solid,” Stantec reported that its gross revenue increased 13.1% year over year to $2,529.9 million from $2,236.4 million. Net income increased 12.5% to $164.5 million from $146.2 million in the same period. Diluted earnings per share increased 10.8% in 2014 to $1.74 from $1.57 in 2013 and the board of directors declared an increase of 13.5% to its quarterly dividend, bringing it to $0.105 per share.
The Edmonton-based company completed eight U.S. acquisitions in 2014, and after year-end completed the acquisition of the Canadian engineering operations of the Montreal-based firm Dessau, adding approximately 1,300 staff and establishing a strong position in the Quebec market.
Bob Gomes, president and chief executive officer, said: “Our company achieved solid performance with growth in all our business operating units and geographic regions in the face of shifting market conditions.” He added, “Our continued success is not only the result of our diversified business model but is also truly the result of the efforts of our people — who continue to be our greatest asset.”
In terms of how well different sectors performed, the company statement said that growth in its buildings and infrastructure units had offset a retraction in the second half of the year in energy and resources.
The infrastructure unit achieved growth in all its sectors. In the water sector, for example, Stantec secured a five-year renewal of its Risk Mapping Assessment and Planning contract with the Federal Emergency Management Agency (FEMA) in the U.S.. In Calgary, it secured the Springbank Off-Stream Storage Protection project — one of the largest flood mitigation projects in Alberta’s history.
The company now has more than 15,000 employees working in over 250 locations.
To see the Stantec press release, click here.