Stantec reports solid growth and record backlog in Q1 2022
Stanec, a global leader in sustainable design and engineering, has reported solid first quarter earnings on the strength of 19.5% net revenue growth. Every regional and business operating unit delivered organic net revenue growth and recent acquisitions generated double-digit growth. Backlog continues to grow, rising to a record $5.4 billion.
“The organic growth we achieved in Q1 reflects our ability to capitalize on our sector’s strong market fundamentals that continue to be spurred by robust public infrastructure spending and increasing private investment,” said Gord Johnston, President and CEO. “We expect this favourable backdrop to drive accelerating growth as we continue to provide our clients with solutions to the largest and most complex problems of our time. These include the strengthening of local supply chain resilience by re-shoring domestic production, global food security, and climate change, sustainability, and the related energy transition.”
“I’m particularly pleased that as we continue to execute on our growth strategy, our leadership in sustainability is driving increasing revenues related to the UN Sustainability Development Goals (SDGs). In our recently released Sustainability Report, we disclosed that 53% of our 2021 gross revenues relate to the SDGs, up from 49% in 2020 and 45% in 2019, when we became the first firm in our space to provide this quantification.”