Stantec reports second quarter 2015 results and dividend
(firmenpresse) - EDMONTON, ALBERTA and NEW YORK, NEW YORK -- (Marketwired) -- 08/06/15 -- (TSX: STN) (NYSE: STN)
Today, Stantec announced that it continued to perform well in the second quarter of 2015, with several key items to highlight:
Stantec demonstrated strength in key areas in the second quarter of 2015, despite the challenging economic conditions in the oil and gas industry. The Company experienced strong revenue growth in its Buildings and Infrastructure business operating units, which partly offset the retraction in its Energy & Resources business operating unit.
"With both our Buildings and Infrastructure businesses demonstrating strong performance, our diverse business model is providing a solid foundation for managing our Company through the economic factors impacting the oil and gas industry," says Bob Gomes, Stantec president and chief executive officer. "We thank our talented staff for once again demonstrating their resourcefulness and their commitment to working with our clients to design with community in mind."
Designing with Community in Mind
Stantec''s Buildings business operating unit achieved strong revenue growth in Q2 15. In the United States, gross revenue significantly increased due to acquisitions completed in 2014 and 2015. In Canada, Stantec benefited from strong activity in the healthcare market, continuing strength in its Education sector, and steady activity in its Commercial sector. For example, due to Dessau''s well-recognized position in the Quebec market, during the quarter, Stantec secured work to provide the mechanical and electrical engineering services for building a mental health pavilion at Saint-Jerome Regional Hospital and to expand the Montreal Sacre-Coeur Hospital to include an integrated tertiary trauma center.
The revenue retraction in Stantec''s Oil & Gas sector results from the sharp decline in oil prices and corresponding market conditions year to date compared to the first two quarters of 2014. Environmental Services organic revenue in sectors that are non-resource related remained stable in Canada and achieved overall strong growth in the United States year to date in 2015, in contrast to the slow start in 2014 caused by harsh winter conditions.
Stantec''s Infrastructure business operating unit achieved strong revenue growth in Q2 15. Its Community Development, Transportation, and Water sectors all experienced strong organic gross revenue growth year to date compared to 2014.
In Transportation, a rebounding US economy and Stantec''s North American strategic market position led to increased organic growth opportunities. To illustrate, during the quarter, Stantec was selected as the independent engineer for the New Champlain Bridge Corridor design-build project in Montreal, Quebec.
Community Development achieved strong organic revenue growth in Q2 15 compared to Q2 14 in the United States and stable growth in Canada. In the United States, Stantec continued to secure major non-residential projects such as the design of streets, sidewalks, sewers, water mains, and streetscape and plaza areas to support the Coney Island redevelopment in Brooklyn, New York, in the area affected by Hurricane Sandy.
Strategic Growth
In July 2015, Stantec acquired certain assets and liabilities, and the business of VI Engineering, LLC, based in Houston, Texas. This 30-person firm''s strong background in the design of high-voltage electrical substations, transmission and distribution lines, and electric power systems adds to Stantec''s platform to better serve its clients across all of its regions.
Additional Company Activity
On August 5, 2015, the Company declared a cash dividend of C$0.105 per share, payable on October 15, 2015, to shareholders of record on September 30, 2015.
Conference Call and Company Information
Stantec''s second quarter conference call, to be held Thursday, August 6, 2015, at 2:00 PM MDT (4:00 PM EDT), 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 2173217 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 15,000 employees working in over 250 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 EBITDA is a non-IFRS measure and gross revenue is an additional IFRS measure. For a definition and explanation of non-IFRS measures and additional IFRS measures, refer to the Critical Accounting Estimates, Developments, and Measures section of the Company''s 2014 Annual Report. Diluted earnings per share for 2014 was adjusted from amounts previously reported for the two-for-one share split that occurred on November 14, 2014.
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 client funding, the risk that Stantec will not meet its growth or revenue targets, and the risk that the projects contemplated in this news release will not be completed 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 2014 Annual Report. You may obtain our 2014 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 2014 Annual Report free of charge from our Investor Contact noted below.
Design with community in mind
- Continued, Consolidated Statements of Financial Position and Consolidated Statements of Income attached -
Shares outstanding and earnings per share for 2014 have been adjusted for the November 14, 2014, two-for-one share split.
Contacts:
Media Contact
Sherry Brownlee
Stantec Media Relations
(780) 917-7264
Investor Contact
Sonia Kirby
Stantec Investor Relations
(780) 616-2785
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Datum: 06.08.2015 - 06:00 Uhr
Sprache: Deutsch
News-ID 1377408
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