Stantec Inc (STN) said after close Thursday that it earned $0.85 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $981.6 million, beating estimates by $56.8 million.
In the same quarter a year ago, the company earned $0.66 per share on revenue of $889.3 million.
The stock is up 7.51% to $67.70 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Stantec Inc a Bearish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 58. Meanwhile, the average Wall Street analyst rated the stock a Buy.
Stantec Inc is a sustainable engineering, architecture, and environmental consulting company. The company is geographically diversified in three regional operating units namely Canada, the United States and Global, offering similar services across all regions. The company offers services in various sectors across the project life cycle through five business operating units infrastructure, water, buildings, environmental services, and energy and resources. The company provides professional services in all phases of the project life cycle: planning, design, construction administration, commissioning, maintenance, decommissioning, and remediation.
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Stantec Inc Up 7.51% To $67.70 After Earnings Beat
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