Stantec’s acquisition of Page is having an outsized impact on the engineering and design firm’s Buildings business, contributing to more than 40% backlog growth in the segment while companywide backlog climbed to a record C$9.2 billion.
Total contract backlog increased 17.5% year-over-year, including 7.8% acquisition growth and 7% organic growth. Page was the largest contributor to the acquisition-driven expansion and produced more than 40% backlog growth in Stantec’s Buildings business.
The backlog growth is accompanying stronger earnings. Q2 net revenue increased 11.5% to C$1.8 billion, adjusted EBITDA increased 17.1% to C$332.9 million and adjusted EBITDA margin expanded 90 basis points to 18.7%. Adjusted EPS increased 18.4% to C$1.61.
Stantec also raised its full-year adjusted EBITDA margin target to a record 17.8% to 18.3%, citing strong project execution, cost management, digital optimization, increased scale and expansion of its high-value centers.
KEY QUOTES:
“The long-term demand drivers of our business remain intact, and with a record backlog of $9.2 billion, we expect to see an acceleration of activity in the second half of 2026.”
Gord Johnston, President and CEO of Stantec
