Stantec announces third quarter 2014 results and dividend
(firmenpresse) - EDMONTON, ALBERTA and NEW YORK, NEW YORK -- (Marketwired) -- 11/06/14 -- Today, Stantec (TSX: STN) (NYSE: STN) announced positive third quarter 2014 results, with several key items to highlight:
Stantec''s gross revenue grew organically by 5.9% in the quarter and 5.1% year to date. The Company''s positive growth in the quarter is a result of increased activity in its Power, Transportation, Water, and Community Development sectors and its Buildings business operating unit. Stantec continued to experience organic gross revenue growth in all of its geographic regions in Q3 14 and year to date compared to the same periods in 2013.
"The diversity of our business model and our disciplined execution continue to result in an expanded market presence and significant wins across the Company," says Bob Gomes, Stantec president and chief executive officer. "With strengthened capacity to serve our clients and communities, we remain on course to achieve our long-term objectives."
Designing with Community in Mind
Stantec achieves its purpose of creating communities by offering its expertise and services across three business operating units: Buildings, Energy & Resources, and Infrastructure. In the quarter, Stantec demonstrated the effectiveness of its diversified business model with strong organic growth in Buildings and Infrastructure while Energy & Resources experienced a reduced pace of growth.
In Stantec''s Buildings business operating unit, the Company''s expertise in the Education sector has resulted in an increased number of projects in an improving US market. For example, during the quarter, Stantec secured a project to provide the programing, planning, architecture, and interior design services for the Academic Building for the University of Texas in Brownsville, Texas.
In its Energy & Resources business operating unit in the third quarter, Stantec saw strong growth in its Power sector in the United States due in part to the need to replace aging infrastructure such as substations and switchyards. In Canada-where Stantec is a top provider of strategic regulatory and environmental scoping for power projects-the Company continues to work on transmission and distribution projects, especially in western Canada.
In Stantec''s Infrastructure business operating unit, all of its sectors throughout North America gained momentum in the third quarter. Due to Stantec''s expertise in flood protection, including work on major projects, such as the PCCP Constructors joint venture project in New Orleans for the US Army Corps of Engineers, the Company is now securing additional significant projects across Canada and the United States. One example from the third quarter is the Springbank Off-stream Storage Protection project west of Calgary, Alberta-one of the largest flood mitigation projects in Alberta''s history.
In Stantec''s Transportation sector, strong client relationships, together with stable infrastructure spending, are resulting in new projects. In the third quarter, Stantec secured work on the Louisiana I-49 Connector, which is a 5.5-mile (8.9-kilometre) partly elevated six-lane highway that traverses urban Lafayette, Louisiana, from south of I-10 to the Lafayette Regional Airport.
Strategic Growth
Stantec closed the acquisition of ADD, Inc. in the quarter. ADD, Inc., a 210-person design firm based in Boston, Massachusetts, and Miami, Florida, focuses on architecture, interior design, planning, and branding services, primarily for multifamily housing, higher education, and corporate office clients.
Stantec continued executing its consistent, disciplined acquisition strategy by entering into an agreement to acquire the Canadian engineering operations of Montreal-based Dessau. This acquisition provides Stantec with the full capability to serve national clients across the country and positions Stantec in the top service providers in each community it serves. In this transaction, 1,300 Dessau staff from 20 offices throughout Quebec and 2 offices in Ontario will join Stantec. This acquisition is expected to close in Q1 15.
Subsequent to the quarter, Stantec closed the acquisition of Penfield & Smith Engineers, Inc., a 90-person civil engineering and land planning firm based in California.
Together, these acquisitions will contribute to strategically growing Stantec''s presence in North America, helping to achieve the Company''s business objective to be a top 10 global design firm.
Additional Company Activity
The Company''s board of directors declared a two-for-one share split to be effected by way of a share dividend, reflecting the board''s confidence in the long-term drivers for Stantec''s business and the Company''s ability to continue to achieve its strategic objectives. Shareholders of record as of the close of business on October 31, 2014, will be entitled to the share dividend on the payment date of November 14, 2014.
Stantec declared a cash dividend of $0.185 per share ($0.0925 per share after taking into consideration the two-for-one share split payable on November 14, 2014). The cash dividend is payable on January 15, 2015, to shareholders of record on December 31, 2014.
Conference Call and Company Information
Stantec''s third quarter conference call, to be held Thursday, November 6, 2014, at 2:00 PM MST (4:00 PM EST), will be broadcast live and archived in the section of . Financial analysts who wish to participate in the earnings conference call are invited to call 1-800-524-8950 and provide confirmation code 1118781 to the operator.
About Stantec
We''re active members of the communities we serve. That''s why at Stantec, we always design with community in mind.
The Stantec community unites more than 14,000 employees working in over 230 locations. We collaborate across disciplines and industries to bring buildings, energy and resource, and infrastructure projects to life. Our work-professional consulting in planning, engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics-begins at the intersection of community, creativity, and client relationships.
Since 1954, our local strength, knowledge, and relationships, coupled with our world-class expertise, have allowed us to go anywhere to meet our clients'' needs in more creative and personalized ways. With a long-term commitment to the people and places we serve, Stantec has the unique ability to connect to projects on a personal level and advance the quality of life in communities across the globe. Stantec trades on the TSX and the NYSE under the symbol STN.
Cautionary Statements
Stantec''s gross revenue is an additional IFRS measure. For a definition and explanation of additional IFRS measures, refer to the Critical Accounting Estimates, Developments, and Measures section of the Company''s 2013 Annual Report.
Certain statements contained in this news release constitute forward-looking statements. Any such statements represent the views of management only as of the date hereof and are presented for the purpose of assisting the Company''s shareholders in understanding Stantec''s operations, objectives, priorities, and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties.
We caution readers of this news release not to place undue reliance on our forward-looking statements since a number of factors could cause actual future results to differ materially from the expectations expressed in these forward-looking statements. These factors include, but are not limited to, the risk of an economic downturn, changing market conditions for Stantec''s services, disruptions in government funding, the risk that Stantec will not meet its growth or revenue targets, the risk that the projects contemplated in this news release will not be completed when expected or at all, and the risk that the Dessau acquisition does not close when expected or at all. Investors and the public should carefully consider these factors, other uncertainties, and potential events, as well as the inherent uncertainty of forward-looking statements, when relying on these statements to make decisions with respect to our Company.
For more information on how other material risk factors could affect our results, refer to the Risk Factors section and Cautionary Note Regarding Forward-Looking Statements in our 2013 Annual Report. You may obtain our 2013 Annual Report by visiting EDGAR on the SEC website at or on the CSA website at or at . Alternatively, you may obtain a hard copy of the 2013 Annual Report free of charge from our Investor Contact noted below.
Design with community in mind
Contacts:
Media Contact
Sherry Brownlee
Stantec Media Relations
(780) 917-7264
Investor Contact
Crystal Verbeek
Stantec Investor Relations
(780) 969-3349
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Datum: 06.11.2014 - 07:00 Uhr
Sprache: Deutsch
News-ID 1316150
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