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Sep 30
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Stantec Inc Q3 2025 Earnings Report
Stantec delivered strong third quarter results with record adjusted EBITDA margin and double-digit growth in EPS and net income.
Key Takeaways
Stantec posted solid Q3 2025 results, reporting strong revenue growth, a record 19.0% adjusted EBITDA margin, and significant increases in EPS and net income driven by project execution and operational efficiency.
Revenue increased to 1.7054 billion CAD, up 11.8% year-over-year.
Adjusted EPS rose to 1.53 CAD, a 17.7% increase from Q3 2024.
Contract backlog grew to 8.3964 billion CAD, representing 14.9% year-over-year growth.
Adjusted EBITDA reached 323.4 million CAD with a record 19.0% margin.
Stantec Inc
Stantec Inc
Stantec Inc Revenue by Geographic Location
Revenue by Geographic Location
Canada Revenue
CapyFin.comUnited States Revenue
CapyFin.comGlobal Revenue
CapyFin.com Forward Guidance
Stantec increased its adjusted EBITDA margin guidance for FY2025, reflecting strong YTD performance, while other targets remained consistent.
Positive Outlook
- Raised FY2025 adjusted EBITDA margin guidance to 17.2%–17.5%
- Continued high activity levels across all operating regions
- Strong demand in water, infrastructure, and energy segments
- Page acquisition complements core business and expands capabilities
- Maintains target of >8.8% adjusted net income as % of net revenue
Challenges Ahead
- Continued short-term market uncertainty in the U.S.
- Public sector procurement cycles remain slower
- Private sector shows elevated caution on large projects
- Expected seasonal drop in adjusted EBITDA margin in Q4
- No assumptions included for further acquisitions or FX volatility