Description

Stantec’s CAD 9 Billion Backlog: Can Water & Energy Keep Growth Flowing?

Stantec Inc. reported a solid start to 2026 with first-quarter net revenue rising 9.1% year-over-year to CAD 1.7 billion, comprised of 3.6% organic growth and 7.2% acquisition growth. Growth was broad-based, recorded across all geographic segments—U.S., Canada, and Global—and supported by key sectors such as Water, Energy & Resources, and Buildings. Notably, the Water segment showed strong momentum globally, with over 14% organic growth, driven by large wastewater projects and public sector investments across key markets. Energy & Resources also delivered robust performance, particularly through projects in mining and energy transitions. The Infrastructure business saw mixed results, with some project wind-downs impacting the Canadian quarter, though a rebound in new projects is expected. Adjusted EBITDA increased approximately 14% to reach a margin of 16.9%, a 70 basis point improvement compared to the prior year, reflecting disciplined management, improved utilization, and lower administrative and marketing expense ratios.