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Stantec (S3A) Q3 2026 Earnings Report

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DE:S3A Q3 2026 EPS Results

Actual EPS
EUR 1.20
Consensus EPS
EUR 1.13
Beat/Miss
Beat by +EUR 0.07
One Year Ago EPS
EUR 0.97

DE:S3A Q3 2026 Revenue Results

Actual Revenue
EUR 1.50B
Expected Revenue
EUR 1.17B
Beat/Miss
Beat by +EUR 323.01M
YoY Revenue Growth
+9.93%

Earnings Announcement Details

Quarter
Q3 2026
Date
11/12/2026
Time
After Close
Conference Call
Thursday, November 12, 2026
DE:S3A Upcoming Earnings

Stantec's next earnings date is estimated for February 24, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

DE:S3A Q3 2026 Earnings Call
0:00 / 0:00

Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Nov 12, 2026|% Change Since:0.00%|
Earnings Call Sentiment|Positive

The call was strongly positive. Stantec reported broad-based revenue and earnings growth, higher margins, record backlog, raised full-year guidance, strong demand across key markets, and continued balance-sheet flexibility. The main challenges were funding-related project delays, project recoveries that may not repeat at the same level, claims provisions related to alleged design deficiencies, modest early-stage recovery in Australia, and potential labor and project-cost inflation in Canada. Management nevertheless characterized demand, backlog, and the forward outlook as favorable.

Company Guidance

For 2026, Stantec narrowed expected net revenue growth to 9% to 11%, from 8.5% to 11.5%, now expects a record adjusted EBITDA margin of 18.3% to 18.5%, compared to previous guidance of 17.8% to 18.3%, and increased adjusted EPS growth to 17% to 19%, up from 15% to 18%; it expects the improvement in organic growth in The U. S. And Canada to continue into Q4 and into 2027, while Vito said project margins going forward in that 54, 54 and a half range relative to the 55% contributed in Q3 is probably more appropriate, and said global growth may see an acceleration into Q4 and then into 2020 7.

  • Strong Third-Quarter Revenue GrowthNet revenue increased 9.4% to approximately $1.9 billion, including 5.3% organic growth, 2.6% acquisition growth, and a 1.5% positive contribution from foreign exchange. Organic growth was achieved across every region and business unit.
  • Double-Digit Earnings and Margin ExpansionAdjusted EBITDA increased 16.6% to $377 million, with adjusted EBITDA margin expanding 120 basis points to 20.2%. Adjusted net income increased 21.8% to $212 million, or 11.4% of net revenue, and adjusted EPS increased 23.5% to $1.89.
  • Strong Year-to-Date PerformanceYear-to-date net revenue increased 10% to $5.3 billion, adjusted EBITDA increased 15.9% to $997 million, and adjusted EPS increased 19.3% to $4.83.
  • Broad-Based Regional and Business GrowthU.S. net revenue increased almost 11%, supported by almost 5% organic growth and 4.4% acquisition growth. Canada delivered 4.1% organic net revenue growth, while global operations delivered 11% net revenue growth, including 7.5% organic growth.
  • Water Business Delivered Double-Digit Organic GrowthWater delivered double-digit organic growth in the U.S. and Canada, supported by demand for water treatment, conveyance, advanced manufacturing, biosolids projects, and wastewater solutions. Global water growth was led by increased delivery under long-term U.K. framework programs.
  • Strength Across Energy, Environmental, and Infrastructure MarketsEnergy and resources achieved double-digit organic growth in Canada and globally, supported by increased activity in Latin America, the U.K., copper mining, hydropower, and project recoveries. Environmental services benefited from demand in oil and gas, power and energy, mission-critical markets, the Netherlands, and the Niche acquisition in Australia. U.S. infrastructure benefited from continued demand for critical infrastructure and favorable transportation project recoveries.
  • U.S. Project Delays Largely ResolvedManagement said project delays experienced in the first half of the year were largely resolved, with strong demand driving projects forward. The company expects the improvement in U.S. organic growth seen in the third quarter to continue into the fourth quarter and into 2027.
  • Improved Project Margins and Operating EfficiencyProject margin increased 10.5% to just over $1 billion and rose 60 basis points to 55% of net revenue. Management cited solid project execution, favorable project recoveries, improved utilization, lower occupancy and discretionary costs, global delivery centers, and operating scale. Year-to-date utilization improved by roughly 2% plus.
  • Backlog Reached $9.2 BillionContract backlog stood at $9.2 billion at September 30, up almost 12% year over year and representing approximately 13 months of work. Organic backlog growth was almost 10%, with Canada up over 18% organically and global backlog up almost 14% organically. Buildings, water, and energy and resources each achieved double-digit organic backlog growth.
  • Notable Project WinsThe company secured a $70 million Toronto treatment-facility assignment designed to treat up to 600 million liters per day, a U.S. data-center design assignment in Arizona for a confidential global technology company, and support for England's Environment Agency on a new £17.8 million groundwater-modeling framework.
  • Raised Full-Year 2026 GuidanceThe expected net revenue growth range was narrowed to 9% to 11% from 8.5% to 11.5%. The adjusted EBITDA margin expectation was increased to a record 18.3% to 18.5% from 17.8% to 18.3%, and adjusted EPS growth guidance was increased to 17% to 19% from 15% to 18%.
  • Strong Cash Flow and Balance Sheet FlexibilityThird-quarter cash flow from operations was $392 million, an increase of $76 million compared with Q3 2025. Net debt to adjusted EBITDA was 1.2 times, within the lower end of the company's 1x to 2x internal target range. Management said its free cash flow profile provides flexibility to invest in growth, return capital to shareholders, and maintain a sustainable dividend.
  • Expanded Share Repurchase ProgramThe company amended its normal course issuer bid to increase the maximum number of shares available for repurchase to 5% of total shares outstanding. Year to date, it repurchased 3.4 million common shares for $350 million, representing approximately 3% of total shares outstanding.
  • Page Integration Progressing WellManagement described the Page integration as a textbook integration, noting that the companies had worked together before the acquisition. John Page now leads the North American buildings vertical, and management linked the integration to strong growth in the U.S. buildings business.
  • Positive Outlook for Canada and Global MarketsManagement cited more than 150 Canadian projects representing $600 billion of capital investment, with many already in Stantec's pipeline or previously tracked opportunities. The company also reported robust global demand in water, mining, hydropower, and Australia's power sector, where transmission and distribution investment is expected to grow from approximately $10 billion to about $15 billion in 2030.
  • Continued Investment in Operational Consistency and LeadershipManagement plans to continue improving operational consistency across North America and global operations, expanding global delivery centers, developing leadership and financial and commercial acumen, and using the global platform to provide resources when markets are booming. No significant organizational changes are currently planned.
  • Strategic M&A Remains a PriorityManagement said disciplined, accretive acquisitions remain the top capital-allocation priority and that the M&A pipeline continues to be robust. Private-equity activity was described as more thoughtful than two years ago, while private and public valuations were described as beginning to converge somewhat.
  • Early AI Productivity BenefitsThe company reported productivity enhancements on a broad scale and is implementing AI tools, including tools that can help prepare proposals faster. Management said material impacts to the business are not yet evident because the company is still in the early days.

DE:S3A Earnings History

DE:S3A earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Feb 24, 20272026 (Q4)0.95-0.79――
Nov 12, 20262026 (Q3)1.131.200.9723.53% (+0.23)
Aug 12, 20262026 (Q2)1.011.020.8618.38% (+0.16)
May 13, 20262026 (Q1)0.820.850.7414.66% (+0.11)
Feb 25, 20262025 (Q4)0.780.790.7112.61% (+0.09)
Nov 13, 20252025 (Q3)0.970.970.8317.69% (+0.15)
Aug 13, 20252025 (Q2)0.860.860.7121.43% (+0.15)
May 14, 20252025 (Q1)0.700.740.5728.89% (+0.17)
Feb 25, 20252024 (Q4)0.640.710.5235.37% (+0.18)
Nov 07, 20242024 (Q3)0.790.830.7214.04% (+0.10)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat Missed