Stantec reports third-quarter profit down from year ago, revenue up 11 per cent

EDMONTON – Engineering firm Stantec Inc. (TSX:STN) reports it had a $28.9 million profit in the third quarter as its revenue grew 11 per cent compared with a year ago.

The company said the profit amounted to 63 cents per diluted share, down from $31.4 million or 68 cents per diluted share a year ago.

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Revenue grew to $430.4 million, up from $386.7 million.

“We continue to show growth and every practice area has continued to win significant projects throughout North America, despite a challenging economy,” Stantec president and chief Bob Gomes said in a statement.

Gomes added that “we remain on course to achieve our long-term strategic goals for growth.”

In September, Stantec acquired Bonestroo Inc. and Bonestroo Services LLC, an engineering, planning and environmental science firm with offices in Minnesota, Wisconsin, Illinois, Michigan, and North Dakota.

Stantec also added FSC Architects and Engineers and Kentucky-based Entran Inc. in October.

Stantec has 11,000 employees working out of more than 170 locations in North America and four locations internationally.