Stantec, a global leader in sustainable design and engineering, has reported record financial results for 2022.
Net revenue increased $821 million to $4.5 billion driven by 9.4% organic growth and 12.3% acquisition growth. All of Stantec’s business operating units and geographic regions delivered net organic growth. Continued focus on strong project execution and operational excellence drove record adjusted EBITDA margin of 16.2%, diluted earnings per share (“EPS”) of $2.22, and adjusted diluted EPS of $3.13.
In the fourth quarter of 2022, Stantec grew net revenue 23.4% to $1.1 billion through strong organic growth of 10.6% and 9.8% acquisition growth. Adjusted EBITDA margin increased 150 basis points to 17.0% compared to the fourth quarter of 2021, while diluted EPS was $0.66 and adjusted diluted EPS increased 43.9% to $0.82.
“For the second consecutive year, we achieved record financial results, and I am extremely pleased that we outperformed our revenue and earnings guidance for 2022 on the strength of our outstanding fourth quarter performance,” said Gord Johnston, President and CEO. “I am also very proud that Stantec has again been ranked as one of the most sustainable companies in the world. These remarkable achievements are attributed to the dedication and passion of our employees. With the Cardno integration behind us, we expect our strong financial momentum to continue throughout 2023 and the years ahead.”
