Stantec's second quarter revenue of $1.8B beat estimates as contract backlog reached a record $9.2B

Stantec delivered strong second quarter 2026 results, significantly exceeding revenue and earnings expectations while expanding operational margins. Net revenue rose 11.5% to $1.8 billion, supported by a 7.1% contribution from acquisitions—notably Page in the US—and 3.7% organic growth. The company demonstrated high operating leverage, leading management to raise its full-year 2026 adjusted EBITDA margin outlook to a record range of 17.8% to 18.3%.

Key Highlights

• Adjusted EBITDA margin expanded by 90 basis points to 18.7%, driven by efficient management of administrative and marketing expenses which fell as a percentage of net revenue.
• Contract backlog reached a record $9.2 billion, a 17.5% year-over-year increase, representing approximately 13 months of project visibility.
• The Water business line emerged as a major growth engine, achieving 13.0% organic net revenue growth on a year-to-date basis.