Stantec reported record-setting results for the full year ended December 31, 2024, with net revenue increasing by 15.8% to $5.9 billion. This growth was driven by 7.4% organic growth and 7.5% acquisition growth. The company achieved a record adjusted EBITDA margin of 16.7%, with diluted earnings per share of $3.17 and adjusted diluted EPS of $4.42.
For the fourth quarter of 2024, net revenue grew 19.0% to $1.5 billion, supported by 9.3% organic and 7.6% acquisition growth. Adjusted EBITDA margin increased by 100 basis points year-over-year to 16.7%, and adjusted diluted EPS rose over 35% to $1.11. The company's contract backlog reached an all-time record of $7.8 billion.
Stantec announced a 7% increase in its dividend, reflecting confidence in its financial strength and future prospects. For 2025, the company targets net revenue growth of 7% to 10%, with organic growth in the mid- to high-single digits across all regions. The adjusted EBITDA margin is anticipated to be between 16.7% and 17.3%, and adjusted EPS growth is projected at 16% to 19%.
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