Stantec: 2Q Earnings Snapshot
EDMONTON, Alberta (AP) _ Stantec Inc. (STN) on Wednesday reported second-quarter profit of $36.9 million.
On a per-share basis, the Edmonton, Alberta-based company said it had profit of 33 cents. Earnings, adjusted for non-recurring costs, were 37 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The engineering firm posted revenue of $915.1 million in the period. Its adjusted revenue was $712.9 million, surpassing Street forecasts. Three analysts surveyed by Zacks expected $706.4 million.
Stantec shares have increased slightly more than 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $22.82, a decrease of 12% in the last 12 months.