Stantec Inc. (TSX, NYSE:STN) reported third-quarter adjusted earnings per share of $1.89 on net revenue of $1.9 billion, up 9.4 per cent from a year earlier, and raised its 2026 profitability targets. The Edmonton-based engineering and design firm released the results after the close on Thursday, Nov. 12, and its contract backlog stood at $9.2 billion.
Diluted earnings per share under IFRS were $1.60, up 21.2 per cent, and net income rose 19.7 per cent to $179.6 million, Stantec said. Adjusted net income, a non-IFRS measure, was $212.1 million, up 21.8 per cent, and adjusted earnings per share rose 23.5 per cent. Adjusted EBITDA rose 16.6 per cent, and the adjusted EBITDA margin reached 20.2 per cent, up 120 basis points from the third quarter of 2025.
| Third quarter 2026 | Result, as reported |
|---|---|
| Net revenue | $1.9 billion, up 9.4% |
| Net income (IFRS) | $179.6 million, up 19.7% |
| Diluted EPS (IFRS) | $1.60, up 21.2% |
| Adjusted net income (non-IFRS) | $212.1 million, up 21.8% |
| Adjusted EPS (non-IFRS) | $1.89, up 23.5% |
| Adjusted EBITDA margin | 20.2%, up 120 basis points |
| Contract backlog | $9.2 billion, up 11.6% |
Net revenue growth in the quarter was driven by organic growth of 5.3 per cent and acquisition growth of 2.6 per cent. For the first nine months, net revenue rose 10 per cent to $5.3 billion, diluted EPS was $3.89 and adjusted EPS was $4.83, up 19.3 per cent.
“As a result of our strong year-to-date margin and earnings performance, we are raising our profitability outlook for 2026,” chief executive Susan Reisbord said in the release. She said Stantec has $9.2 billion in backlog and favourable demand trends across its end markets.
For 2026, Stantec now expects an adjusted EBITDA margin of 18.3 per cent to 18.5 per cent, up from a range of 17.8 per cent to 18.3 per cent, and raised its adjusted net income margin estimate to 9.8 per cent from 9.5 per cent. It lifted its adjusted EPS growth target to 17 per cent to 19 per cent from 15 per cent to 18 per cent, and narrowed its net revenue growth range to 9 per cent to 11 per cent from 8.5 per cent to 11.5 per cent.
The results arrive as the S&P/TSX composite index closed at 36,137.19 on Thursday, according to TMX Money, as base metals led the market lower. Our Friday preview has the morning’s other earnings and economic data. Stantec reports in Canadian dollars, and the figures above come from the company’s third-quarter news release, distributed by GlobeNewswire.
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This article is for information only and is not investment advice. Speak to a licensed adviser before making investment decisions.
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