Stantec reported strong first quarter 2025 results, with net revenue increasing by 13.3% year-over-year to $1.6 billion. This growth was driven by 5.9% organic growth and 3.2% acquisition growth. Canada notably achieved 12.2% organic growth, with other regional and business operating units also contributing positively.
Adjusted EBITDA for the quarter increased by 19.1%, leading to an adjusted EBITDA margin of 16.2%, up 70 basis points compared to the first quarter of 2024. Adjusted earnings per share (EPS) saw a significant 29% increase to $1.16. The company's contract backlog reached a new record high of $7.9 billion, providing strong revenue visibility.
Stantec reaffirmed its 2025 outlook, anticipating net revenue growth of 7% to 10%, and adjusted EPS growth of 16% to 19%. The adjusted EBITDA margin is expected to be in the range of 16.7% to 17.3%. The company highlighted recent acquisitions of Page and Ryan Hanley as contributors to its strategic plan targets.
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