Stantec (STN)
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Stantec (STN) - 2023 Q4 - Earnings Call Transcript
2024-02-29 18:48
Financial Data and Key Metrics Changes - In 2023, the company achieved record financial results with a 14% year-over-year increase in net revenue, driven by nearly 10% organic growth [5][8] - The diluted EPS for Q4 was $0.66, with an adjusted diluted EPS of $0.82, consistent with the previous year [8] - Full-year diluted EPS reached a record high of $2.98, with adjusted diluted EPS up 34% to $3.67 despite a $0.24 unfavorable impact from long-term incentive plan (LTIP) revaluation [18][34] Business Line Data and Key Metrics Changes - The water business experienced a 25% increase in organic growth, driven by robust demand in public sector and industrial projects [6] - The buildings business saw higher activity levels in healthcare, industrial, and science and technology projects, contributing to solid revenue growth [6][42] - Energy and Resources achieved double-digit organic growth, supported by advancements in projects like the Coire Glas pumped storage energy project [36] Market Data and Key Metrics Changes - The US operations delivered over 18% growth in net revenue, with more than 12% from organic growth [14] - Global operations achieved 6.5% organic growth, with double-digit growth in Water and Energy and Resources [7] - In Canada, organic net revenue growth exceeded 8%, with environmental services, infrastructure, and water each delivering double-digit organic growth [35] Company Strategy and Development Direction - The company has closed acquisitions of ZETCON and Morrison Hershfield, enhancing its capabilities and workforce to over 30,000 employees [13] - The strategic plan for 2024 to 2026 aims to leverage these acquisitions for growth [13] - The company is optimistic about high levels of activity across all regions and has raised its net revenue growth target for 2024 to 11% to 15% [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong market demand and the ability to grow backlog, which increased organically by 5% since December 2022 [21] - The company anticipates continued high levels of activity in 2024, with expectations for mid to high-single-digit organic revenue growth in the US and globally [25] - Management noted that while there are salary pressures, they have successfully passed on most of these costs to clients, contributing to organic growth [49] Other Important Information - The company reported a backlog of $6.3 billion, with a 23% organic increase in the water segment [21][22] - The company has been recognized as a top global leader in sustainability for five consecutive years [33] - Management highlighted the importance of cultural alignment in discussions with employee-owned firms for potential acquisitions [95] Q&A Session Summary Question: Criteria for CFO Search - The search for a new CFO is underway, with hopes to complete it in the next quarter or two [27] Question: AMP8 Program in the UK - The company has secured many awards for AMP8 and is already working on preparatory planning for upcoming projects [28] Question: Free Cash Flow and Section 174 Impact - The company expects an impact of approximately $30 million to $40 million in additional cash taxes due to Section 174 [29] Question: Organic Growth and Pricing Inflation - Management indicated that approximately half of the organic growth is due to fee increases, with the other half from additional organic growth [49] Question: Infrastructure Organic Growth Expectations - The company is optimistic about infrastructure growth, particularly in the US, supported by ongoing projects and funding [77] Question: M&A Interest from Employee-Owned Firms - There is increasing interest from employee-owned firms looking for transitions, with discussions ongoing [87] Question: Energy Market Conditions - The company is monitoring the energy market, noting some slowdown in offshore wind projects but projecting good organic growth overall [99] Question: Private Equity-Owned Firms as Acquisition Targets - The company has seen initial conversations with private equity-owned firms nearing the end of their investment cycle [101]
Stantec (STN) - 2023 Q4 - Earnings Call Presentation
2024-02-29 16:20
o STN TINET Q4 and Year End 2023 Earnings Presentation 1.5 F 36, 3 all Proton Therapy Center – MD Anderson Cancer Centre 2 Houston, Texas, US Q 4 A N D Y E A R E N D 2 0 2 3 This presentation contains non-IFRS and other financial measures and forward-looking statements, including a discussion of our business targets, expectations, and outlook. We caution readers not to place undue reliance on our forward-looking statements since a number of factors could cause actual future results to differ materially from ...
Stantec (STN) - 2023 Q3 - Earnings Call Transcript
2023-11-10 17:15
Stantec Inc. (NYSE:STN) Q3 2023 Earnings Conference Call November 10, 2023 9:00 AM ET Gord Johnston - President and Chief Executive Officer Theresa Jang - Executive Vice President and Chief Financial Officer Company Participants Conference Call Participants Benoit Poirier - Desjardins Michael Doumet - Scotiabank Chris Murray - ATB Capital Markets Michael Tupholme - TD Securities Sabahat Khan - RBC Capital Markets Ian Gillies - Stifel Maxim Sytchev - NBF Operator Welcome to Stantec's Third Quarter 2023 Earni ...
Stantec (STN) - 2023 Q3 - Earnings Call Presentation
2023-11-10 13:41
tantec Q 3 2 0 2 3 This presentation contains non-IFRS and other financial measures and forward-looking statements, including a discussion of our business targets, expectations, and outlook. ® 18.3% | ▲ 160bps 2.3% STN Q3 KEY DRIVERS STN (出版) Cautionary statement Non-IFRS and other financial measures do not have a standardized meaning under IFRS, and therefore, may not be comparable to similar measures presented by other issuers. For a discussion of risk factors and non-IFRS measures and other financial mea ...
Stantec (STN) - 2023 Q3 - Quarterly Report
2023-11-09 22:03
Exhibit 99.2 - Stantec Inc.'s Unaudited Interim Condensed Consolidated Financial Statements Interim Condensed Consolidated Statements of Financial Position (Unaudited) | | | September 30, 2023 | December 31, 2022 | | --- | --- | --- | --- | | (In millions of Canadian dollars) | Notes | $ | $ | | ASSETS | | | | | Current | | | | | Cash and cash equivalents | | 172.0 | 148.3 | | Trade and other receivables | 5 | 1,075.3 | 1,028.0 | | Unbilled receivables | | 768.0 | 553.4 | | Contract assets | | 95.6 | 83.9 | ...
Stantec (STN) - 2023 Q2 - Earnings Call Presentation
2023-08-10 19:16
Q2 2023 Earnings Presentation This presentation contains non-IFRS and other financial measures and forward-looking statements, including a discussion of our business targets, expectations, and outlook. We caution readers not to place undue reliance on our forward-looking statements since a number of factors could cause actual future results to differ materially from the targets and expectations expressed. O STN $1,354 $1,170 YTD 2022 YTD 2023 Adjusted diluted earnings per share ($)(1) $0.83 Q2 2022 $0.99 Q2 ...
Stantec (STN) - 2023 Q2 - Earnings Call Transcript
2023-08-10 17:15
Thanks, Benoit. Our next question will come from Yuri Lynk with Canaccord Genuity. Your line is open. Good morning. ItÂ's a fair question. And I would say the answer is, no. We donÂ't see a slowing of momentum. It is something that we are very trained on and seeing very good success. So there were certainly some things last year in the last half of the year that were favorable to EBITDA that we would not necessarily expect to recur. We also had – in the first half of this year, we may mention in our MD&A, c ...
Stantec (STN) - 2023 Q2 - Quarterly Report
2023-08-09 21:02
Exhibit 99.2 - Stantec Inc.'s Unaudited Interim Condensed Consolidated Financial Statements Interim Condensed Consolidated Statements of Financial Position (Unaudited) | | | June 30, 2023 | December 31, 2022 | | --- | --- | --- | --- | | (In millions of Canadian dollars) | Notes | $ | $ | | ASSETS | | | | | Current | | | | | Cash and cash equivalents | | 227.8 | 148.3 | | Trade and other receivables | 5 | 993.3 | 1,028.0 | | Unbilled receivables | | 743.7 | 553.4 | | Contract assets | | 95.3 | 83.9 | | Inco ...
Stantec (STN) - 2023 Q1 - Earnings Call Transcript
2023-05-11 19:52
Stantec Inc. (NYSE:STN) Q1 2023 Earnings Conference Call May 11, 2023 10:00 AM ET Company Participants Gord Johnston - President and Chief Executive Officer Theresa Jang - Executive Vice President and Chief Financial Officer Conference Call Participants Chris Murray - ATB Capital Markets Sabahat Khan - RBC Capital Markets Ian Gillies - Stifel Frederic Bastien - Raymond James Operator Welcome to Stantec's First Quarter 2023 Earnings Results Webcast and Conference Call. Leading the call today are Gord Johns ...
Stantec (STN) - 2023 Q1 - Quarterly Report
2023-03-31 10:00
Exhibit 99.2 767 Management Information Circular STN MYSE March 20, 2023 Dunheved Road Upgrade Werrington NSW, Australia Table of Contents | Invitation to Shareholders | 3 | | --- | --- | | Notice of Meeting | 4 | | General Information | 6 | | About Voting | 8 | | Business of the Meeting | 13 | | 1 Financial Statements | 13 | | 2 Election of Directors | 13 | | 3 Appointment of Auditor | 14 | | 4 Nonbinding Advisory Vote on Executive Compensation | 14 | | Nominees for Election to the Board of Directors | 15 ...