Stantec Inc.: Initiation Of Coverage – Will Its Focused Margin Improvement Strategies Work? 

Based on the second quarter 2024 results for Stantec, the company experienced notable growth and has shown resilience amidst various market conditions. Led by Gord Johnston, President and CEO, and Theresa Jang, EVP and CFO, Stantec reported strong performance across several metrics. Stantec’s net revenue reached $1.5 billion, marking an increase of about 17% from Q2 2023. This was driven by both organic growth (7%) and acquisition-related growth (9%). Significant contributions were seen in the Water and Buildings business segments which achieved double-digit organic growth.