StantecNYSE: STN

EDMONTON, Alberta and NEW YORK, July 02, 2024 (GLOBE NEWSWIRE) -- TSX, NYSE:STN Stantec, a global leader in sustainable design and engineering, announced today that Vito Culmone will join the Company in mid-July 2024 as its next executive vice president and chief financial officer. He will officially assume the CFO role on September 3, 2024.

NextSource Materials Inc. (TSX:NEXT, OTCQB:NSRCF) has provided investors with an update on its global anode expansion strategy, including positive results of a technical and economic study for a proposed battery anode facility in the Kingdom of Saudi Arabia. The company partnered with engineering service provider Stantec (TSX:STN) who has completed a conceptual design and an AACE Class 5 evaluation to develop battery anode facilities (BAFs) at selected sites in the Kingdom of Saudi Arabia.

The acclaimed water reuse program aims to secure a locally controlled water supply while reducing ocean discharges The acclaimed water reuse program aims to secure a locally controlled water supply while reducing ocean discharges

Stantec has seen record revenues in Q1 2024, with acquisitions increasing headcount by over 2,700 skilled workers. The company's order book backlog is at a record high of $7 billion, with expectations for 7% organic growth over the next three years. Stantec's competitive position in the market remains strong, but the rate of growth may not justify an investment at this time.

Stantec (STN) reports a 24.1% year-over-year increase in earnings for the first quarter of 2024, despite a 10.7% decline in revenues.

Stantec (STN) came out with quarterly earnings of $0.60 per share, missing the Zacks Consensus Estimate of $0.63 per share. This compares to earnings of $0.60 per share a year ago.

The acquisition of Morrison Hershfield aligns with Stantec's (STN) growth strategy by expanding its capabilities, geographic reach and market presence across various sectors.

Commitment to shareholder returns makes Stantec (STN) a reliable way for investors to compound wealth over the long term.

Does Stantec (STN) have what it takes to be a top stock pick for momentum investors? Let's find out.