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STN +14.16% today · Analysis updated Nov 13, 2026, 10:34 AM ET
Why is Stantec Inc. (STN) stock up today?
Stantec reported third-quarter results after the close on November 12 (figures in Canadian dollars). Net revenue rose 9.4% to C$1.9 billion, with 5.3% organic growth (growth not from acquisitions) across every region. Adjusted EBITDA rose 16.6% to C$377 million, a record 20.2% margin, and adjusted earnings per share rose 23.5% to C$1.89, ahead of the roughly C$1.78 analysts expected. The backlog of signed work reached C$9.2 billion, up 11.6%. Stantec raised its 2026 targets for margin and earnings growth (adjusted EPS growth now 17-19%) and has bought back C$350 million of its shares this year. By about 10:26 AM ET the New York shares were up about 14% at $85.77.
News behind the analysis
- Stantec reports third quarter 2026 results with strong net revenue growth and record adjusted EBITDA margin; raises profitability outlookNet revenue +9.4% to C$1.9 billion, adjusted EBITDA margin 20.2%, adjusted EPS C$1.89, backlog C$9.2 billion, raised 2026 profit targets.
- Earnings call transcript: Stantec beats Q3 2026 estimates as margins widenAdjusted EPS of C$1.89 topped the C$1.78 forecast; revenue edged past expectations; acquisitions remain the top capital priority.
- Stantec Q3 2026 slides: margins expand to 20.2% on broad growthUS revenue +10.9%; data centers 2-3% of revenue; project margins expected to normalize somewhat; net debt 1.2 times EBITDA.
- Stantec (STN) Q3 2026 Earnings: Revenue Rises 9% to $1.9 BillionRaised margin and EPS-growth targets; notes leadership-transition pay costs and slower year-to-date cash flow.
About Stantec, Inc.
Stantec is a Canadian engineering, architecture and environmental consulting firm based in Edmonton, with roughly 34,000 employees in about 450 locations and shares listed in both Toronto and New York. It is known for its focus on water and sustainable infrastructure work and for growing through acquisitions: it has bought more than 130 firms since 1994, and Susan Reisbord became CEO in October 2026.
How it makes money
Stantec charges fees for professional services such as design, engineering, project management and environmental consulting. Its clients are governments, utilities and private developers, and the work covers water, infrastructure, buildings, environmental services and energy and resources. Most revenue comes from the US, with the rest from Canada and global markets including the UK and Australia. Net revenue in 2026 is running at roughly C$1.7–1.8 billion per quarter, and the contract backlog is a record of about C$9.2 billion, which the company says equals roughly a year of future work.
What usually moves STN
- Public infrastructure and water funding
- Organic growth and backlog trends
- Acquisition pace and integration
- Margin expansion and quarterly guidance
- Data-center and energy-related project demand
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