Shares of Stantec, the Canadian engineering and design firm, rose Friday after it reported strong third-quarter results and raised its profit outlook for the year. Its New York-listed shares traded near $85.63 at 1:53 p.m. Eastern, up $10.50, or 14%, from Thursday’s close of $75.13.
Stantec said Thursday that net revenue rose 9.4% to 1.86 billion Canadian dollars, with 5.3% organic growth. Its adjusted EBITDA margin reached a record 20.2%, up 1.2 percentage points from a year earlier, and adjusted earnings per share rose 23.5% to C$1.89. Net income rose 19.7% to C$179.6 million.
The company raised its 2026 targets for adjusted EBITDA margin to 18.3% to 18.5%, from 17.8% to 18.3%, and for adjusted earnings-per-share growth to 17% to 19%, from 15% to 18%. It narrowed expected net revenue growth to 9% to 11%. Its backlog stood at C$9.2 billion, about 13 months of work.
“We are raising our profitability outlook for 2026,” said Susan Reisbord, Stantec’s president and chief executive.
The figures are from afternoon trading and will change by the close.
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