ASX Share rice
Fri 14 May 2021 - 08:01:pm (Sydney)

CAQ Share Price

CAQ HOLDINGS LIMITEDCAQReal Estate

CAQ Company Information

Name:

CAQ Holdings Limited

Sector:

Real Estate

Industry:

Real Estate-Development

GIC Industry:

Real Estate Management & Development

GIC Sub Industry:

Real Estate Development

Address:

Central Plaza Wan Chai Hong Kong

Phone:

852 2511 6016

Deputy Chairman:

Mr. Ching Chung

Company Sec.:

Mr. Mark William Maine

Company Overview:

CAQ Holdings Limited, together with its subsidiaries, engages in the property development and jewelry trading activities in Mainland China. The company is involved in the construction and leasing of the Haikou project, a shopping center constructed in a free trade zone consisting of multi-storey buildings, including factories, warehouses, a commercial/administration building, and a retail complex located in Hainan Island, China. It also processes, exhibits, and sells diamonds, jewelry, and other commodities through physical stores under the Zuanxihui brand name in Haikou Meilan duty-free mall and Haikou Mova outlet, as well as through an online e-commerce platform. CAQ Holdings Limited was incorporated in 2000 and is based in Wan Chai, Hong Kong.

CAQ Share Price Information

Shares Issued:

717.79M

Market Capitalisation:

$13.64M

Revenue (TTM):

$2.06M

Revenue Per Share (TTM):

$0

Earnings per Share:

$-0.002

Profit Margin:

-1.0618

Operating Margin (TTM):

$-0.76

Return On Assets (TTM):

$-0.01

Return On Equity (TTM):

$-0.04

Quarterly Revenue Growth (YOY):

1.192

Gross Profit(TTM):

$2.04M

Diluted Earnings Per Share (TTM):

$-0.003

CAQ CashFlow Statement

CashFlow Date:

2020-12-31

Investments:

$-1,222,406

Change To Liabilities:

$762.96K

Total Cashflow From Investing Activities:

$-4,618,253

Net Borrowings:

$2.89M

Net Income:

$-2,182,677

Total Cash From Operating Activities:

$-118,666

Depreciation:

$147.51K

Other Cashflow From Investing Activities:

$-4,573,980

Change To Inventory:

$9.93K

Change To Account Receivables:

$185K

Capital Expenditures:

$3.37M

CAQ Income Statement

Income Date:

2020-12-31

Income Before Tax:

$-1,694,891

Net Income:

$-2,182,677

Gross Profit:

$2.04M

Operating Income:

$-1,681,328

Other Operating Expenses:

$-24,333

Interest Expense:

$3.11K

Income Tax Expense:

$487.79K

Total Revenue:

$2.06M

Cost Of Revenue:

$10.83K

CAQ Balance Sheet

Balance Sheet Date:

2020-12-31

Intangible Assets:

$42.98K

Total Liabilities:

$6.54M

Total Stockholder Equity:

$60.24M

Other Current Liabilities:

$128.30K

Total Assets:

$66.78M

Common Stock:

$74.65M

Other Current Assets:

$178.80K

Retained Earnings:

$-14,906,588

Other Liabilities:

$2.62M

Other Assets:

$62.78M

Cash:

$567.23K

Total Current Liabilities:

$2M

Short-Term Debt:

$74.86K

Property - Plant & Equipment:

$189.35K

Net Tangible Assets:

$60.20M

Long-Term Investments:

$63.05M

Total Current Assets:

$2.43M

Long-Term Debt:

$1.92M

Net Receivables:

$460.86K

Short-Term Investments:

$64.35M

Inventory:

$1.21M

Accounts Payable:

$596.43K

Short-Term Investments:

$64.35

Non Current Liabilities Total:

$4.53M

CAQ Share Price History

CAQ News

26 Jan, 2021
EDMONTON, Alberta, Jan. 26, 2021 (GLOBE NEWSWIRE) -- TSX,NYSE: STN Stantec will release its fourth quarter and full-year 2020 financial results after markets close on Wednesday, February 24, 2021. On Thursday, February 25, 2021, at 7:00 AM Mountain Time (9:00 AM Eastern Time), Gord Johnston, President and Chief Executive Officer, and Theresa Jang, Executive Vice President and Chief Financial Officer, will hold a conference call to discuss the Company’s performance. The webcast and slide presentation can be accessed at the following link:https://edge.media-server.com/mmc/p/whiotnb8 The conference call and slideshow presentation will be broadcast live and archived in their entirety in the Investors section of stantec.com. Participants wishing to listen to the call via telephone may dial in toll-free at 1-866-548-4713 (Canada and United States) or +1-647-484-0477 (international). Please provide confirmation code 9973228 when prompted. About Stantec Communities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Stantec, we always design with community in mind. We care about the communities we serve—because they're our communities too. This allows us to assess what's needed and connect our expertise, to appreciate nuances and envision what's never been considered, to bring together diverse perspectives so we can collaborate toward a shared success. We're designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe. Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media. To subscribe to Stantec’s email news alerts, please fill out the subscription form, which is available on the Contact Information page of the Investors section at Stantec.com. Design with community in mind CONTACT: For further information: Investor Contact Tom McMillan Stantec Investor Relations Ph: 780-917-8159 tom.mcmillan@stantec.com
25 Jan, 2021
Company clean revenues contribute to designationEDMONTON, Alberta and NEW YORK, Jan. 25, 2021 (GLOBE NEWSWIRE) -- TSX, NYSE: STN Stantec was named the fifth most sustainable company in the world and first in Canada by Corporate Knights, which released its 2021 Global 100 Most Sustainable Corporations rankings today. Companies in the Global 100 represent the top one percent of companies in the world on sustainability performance. To determine the ranking, Corporate Knights analyzed 8,080 companies using up to 24 quantitative key performance indicators, weighted to reflect each industry group’s impact profile. The full 2021 methodology can be found here. This distinction comes less than a month after CDP (formerly the Carbon Disclosure Project) awarded Stantec its technical classification of A- for the third year in a row, making Stantec the only engineering and design firm in the industry to earn an A- rating for the last three consecutive years. “We are tremendously proud to be recognized in the top five of the top one percent of sustainable companies in the world and first in Canada,” said Gord Johnston, President and Chief Executive Officer of Stantec. “Our leading track record on sustainability is the result of the deep commitment and exemplary leadership of our people across Stantec’s entire global operation. Our teams continue to enhance sustainability in our own operations while also helping clients set and achieve their sustainability goals.” Corporate Knights – Key Scoring Metrics & Commentary* Stantec’s clean revenue and clean investment (i.e., goods and services that have a clear environmental and social benefit) as determined by Corporate Knights was the highest in the consulting and professional services industry group. Together, clean revenue and clean investment accounted for half of the weighted score. Additionally, a number of metrics related to employee benefits and compensation figured prominently in the analysis, accounting for an aggregate weighting of approximately 26 percent, where Stantec also scored well. More information on the firm’s sustainable initiatives, projects, and thought leadership can be seen on the company’s website here. About StantecCommunities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Stantec, we always design with community in mind. We care about the communities we serve—because they're our communities too. This allows us to assess what's needed and connect our expertise, to appreciate nuances and envision what's never been considered, to bring together diverse perspectives so we can collaborate toward a shared success. We're designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe. Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media. Investor ContactMedia ContactTom McMillanDanny CraigStantec Investor RelationsStantec Media RelationsPh: 780-917-8159Ph: 949-923-6085tom.mcmillan@stantec.comdanny.craig@stantec.com To subscribe to Stantec’s email news alerts, please fill out the subscription form, which is available on the Contact Information page of the Investors section at Stantec.com. *Note: In determining 2021 rankings, Corporate Knights used 2019 financial data Design with community in mind
21 Jan, 2021
Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Stantec Inc. ( TSE:STN...
25 Dec, 2020
Stantec Inc. ( TSE:STN ) is about to trade ex-dividend in the next 4 days. You will need to purchase shares before the...
14 Dec, 2020
Stantec Inc. ( TSE:STN ), might not be a large cap stock, but it saw a decent share price growth in the teens level on...
03 Dec, 2020
EDMONTON, Alberta and MINNEAPOLIS, Dec. 03, 2020 (GLOBE NEWSWIRE) -- TSX, NYSE: STNGlobal engineering and design firm Stantec has signed a Letter of Intent to acquire Wenck, a US-based environmental engineering firm with core expertise in air, water, waste, food processing, natural resources, and infrastructure. Founded in 1985, Wenck operates both nationally and internationally, providing complete environmental, engineering, and response solutions with 300 multidisciplinary technical experts. The terms of the transaction were not disclosed. This acquisition will immediately add depth and breadth to Stantec’s environmental services team, especially in the US Midwest. The environmental services industry is experiencing significant growth, with opportunities in the US energy, infrastructure, manufacturing, mining, and transportation sectors.“Wenck and Stantec share a client-focused, expert service, and entrepreneurial culture,” said Gord Johnston, President and Chief Executive Officer, Stantec. “We have worked with Wenck across multiple business lines over many years, and we’re actively collaborating on several projects currently. While Wenck complements our current suite of markets and sectors, they fill important gaps in expertise, services, geography, and clients.”Wenck’s air quality and process engineering teams will provide platforms for Stantec growth in the US and Canada. Their solid waste and private development teams will add depth for Stantec in Minnesota, Colorado, Wyoming, North Dakota, and Georgia. Additionally, Wenck’s market-leading water resources, mining and environmental remediation capabilities will help grow Stantec’s presence in the company’s US North Central, Mountain, and Southeast Regions, and their municipal infrastructure, geospatial resources, and construction services/administration groups will strengthen Stantec’s municipal practice.“Alignment of culture and values is critical for us. We’re excited to see a strong alignment with Stantec’s purpose, values, and culture, which we believe is a strong foundation for success,” said Rod Ambrosie, Chief Executive Officer, Wenck. “By integrating into a global company network, this acquisition provides new opportunities for both our employees and clients.”Wenck’s engineering and environmental services experience will strengthen Stantec’s ability to support industrial, infrastructure, energy, and real estate sectors. Wenck’s wide range of projects include: * Former Advance Machine Facility: The historic manufacturing facility was the source of chlorinated releases to soil, groundwater, and vapor for decades. When the site was redeveloped in the late 1990s into residential homes, Wenck undertook a full remedial investigation of the site, including soil, groundwater, surface-water, and soil gas to assess potential risk. Based on the results, site remediation consisting of groundwater pump and treatment started in 2004. Over the years, upgrades have been made, and Wenck is currently designing a significant expansion of the groundwater pump and treatment system to include two additional deep well systems for advance remediation. * Canola Oil Processing Facility: Wenck was the lead engineer for a Canola Oil Processing Facility. As lead engineer, Wenck completed the in-house design services, used air dispersion modeling for the air permitting, and managed all subcontractor design services. Wenck’s project services totaled more than 39,000 hours, including leading the mechanical design, electrical design, process/process piping design, site layout, and process controls design. * Palmer’s Creek Wind Farm: A large wind energy conversion system with a 44.6-megawatt nameplate capacity was proposed near Granite Falls, Minnesota. The project included 18 wind turbines and associated facilities located on approximately 6,150 acres of privately-owned land. Project construction and operation required numerous local, state, and federal regulatory requirements. Wenck assisted Palmer’s Creek by completing necessary pre-construction surveys, biological assessment, Minnesota site permitting, and federal environmental review. * Fridley Civic Center Stormwater Reuse: The Fridley Civic Center Complex includes a new city hall, police and fire departments, and public works facility. The City of Fridley saw an opportunity to bring their civil services and the surrounding community together by making stormwater a focal point of their complex – a living example to promote best management practices to protect an important regional water resource, Rice Creek. Wenck’s site design included a central water feature with a recirculating three-step aerated pool. The water feature serves as a central amenity connecting the different uses on site and creates a community gathering space. It also serves as a reservoir for stormwater reuse through onsite irrigation of green spaces. The Civic Center Complex was recently named 2020 Project of the Year by the American Public Works Association-Minnesota (APWA MN) Chapter. * Biochar and Iron-Enhanced Sand Filters: One of the most common impairments to water quality in lakes and streams is bacteria. Wenck partnered with the Shingle Creek and West Mississippi Watershed Management Commissions to obtain a federal grant to fund a project to field-trial three applications of a new technology to treat bacteria in real-world stormwater runoff. Wenck designed three applications of biochar- and iron-enhanced sand filters, and the project tested the effectiveness of these filters. The applications were successful at removing 60 – 95 percent of bacteria, and Wenck continues to work with the Shingle Creek and West Mississippi Watershed Management Commissions to refine designs, better understand longevity and maintenance needs, and identify additional applications and locations for treatment of bacteria in stormwater runoff. About Stantec Communities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Stantec, we always design with community in mind.We're designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe.Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media.For more information about Stantec’s response to COVID-19, visit Responding to COVID-19.Media Contact                                 Danny Craig Stantec Media Relations Ph (949) 923-6085 danny.craig@stantec.com                                  Investor Contact Tom McMillan Stantec Investor Relations Ph (780) 917-8159 tom.mcmillan@stantec.comDesign with community in mind
02 Dec, 2020
EDMONTON, Alberta and NEW YORK, Dec. 02, 2020 (GLOBE NEWSWIRE) -- TSX, NYSE:STN Global design firm Stantec has expanded its capabilities in the Netherlands with the acquisition of AGEL adviseurs (AGEL), a multi-discipline engineering firm specializing in environmental services, spatial development, infrastructure, and GIS services. The 75-person firm, based in Oosterhout, is a recognized leader in the Netherlands with a longstanding history in the country’s southwest and central regions. Financial terms of the transaction were not disclosed.“AGEL enhances Stantec’s global Environmental Services practice and strategically complements our offerings in the Netherlands, where our work has historically focused on the central and northern regions. With the addition of this passionate, community-focused team, we can better support clients across the country and build upon our relationships with an enhanced suite of services,” said Pieter van der Zwet, Stantec’s Regional Leader for Continental Europe. “We are well positioned for organic growth by expanding Stantec’s portfolio of services in this region toward spatial development, the energy transition, and geo- and environmental measurement."Founded in 1986, AGEL is a trusted consultant to local municipalities and land developers, with advisory services focused on supporting the circular economy, climate adaptation, area development, and the energy transition. The team’s expertise spans master planning, landscape design, roadway engineering, sustainable building design, environmental studies, and GIS analysis. The AGEL team integrates advanced technology with market-leading expertise, leveraging tools such as Building Information Modeling (BIM) and geo viewers to better serve clients and the community.“Joining Stantec allows us to unlock added value for our clients by tapping into a broader range of services and creating a truly national presence backed by extensive global expertise,” said Remco van Dessel, Director for AGEL. “This also creates an incredible opportunity for our team members, who will have access to Stantec’s global network of experts, resources, and innovation for continued growth opportunities.”Notable projects in AGEL’s portfolio include: * The Treeport Business Centre in Zundert is a business park serving the tree cultivation industry on approximately 60 hectares (148 acres) along the border of Belgium. As the project process manager, AGEL consulted on location studies, 3D visualization and modelling, zoning plans, environmental surveys, and technical development of construction and infrastructure. * The redevelopment of the former office of the UWV, the Dutch employee insurance agency, on the Markendaalseweg in Breda will include 170 apartments and commercial space. AGEL’S role on the project involves feasibility studies, zoning plans, demolition preparation, and soil remediation. * The province of Utrecht has made it a priority to advance road safety. To support this effort, AGEL has provided surveying services to measure safety indicators for various roadway elements. * In Oisterwijk, the 11-hectare (27-acre) Koninklijke Verenigde Leder (Royal United Leather) site, which at one point was Europe's largest leather factory, is now under redevelopment. AGEL’s role in transforming the 100-year-old plant into a business park has involved procurement planning, project management, authentication and validation, water management and sewage planning, and project design.With 22,000 team members working worldwide, Stantec has more than 220 employees based in the Netherlands.About StantecCommunities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Stantec, we always design with community in mind.We care about the communities we serve—because they're our communities too. This allows us to assess what's needed and connect our expertise, to appreciate nuances and envision what's never been considered, to bring together diverse perspectives so we can collaborate toward a shared success.We're designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe.Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media.For more information about Stantec’s response to COVID-19, visit Responding to COVID-19.Media ContactsInvestor Relations Contact Danny CraigTom McMillan Stantec Media RelationsStantec Investor Relations Ph (949) 923-6085Ph (780) 917-8159 danny.craig@stantec.comtom.mcmillan@stantec.com Remco van Dessel AGEL Media Relations Ph +31 6 22 888 991 rvdessel@ageladviseurs.nl To subscribe to Stantec’s email news alerts, please fill out the subscription form, which is available on the Contact Information page of the Investors section at Stantec.com. Design with community in mind
24 Nov, 2020
EDMONTON, Alberta, Nov. 24, 2020 (GLOBE NEWSWIRE) --  TSX, NYSE: STN Stantec Inc. (“Stantec”) today announced the appointment of Martin à Porta to the Board of Directors of Stantec effective January 1, 2021.Martin à Porta is an experienced executive and consultant with 25 years of experience working in and supporting professional services and industrial companies, including Siemens, where he worked for more than a decade in several progressively senior roles around the world. Most recently, Mr. à Porta served as the President and CEO of Pöyry Plc, an international consulting and engineering company, providing services in power generation, transmission, and distribution; forestry; biorefining and chemicals; mining and metals; infrastructure; water, and environmental services. Mr. à Porta currently provides transformation, growth, and strategic consulting services for a number of companies and serves on the board of directors of UPM Biofore, a leading forest-based bioindustry company based in Helsinki, Finland. He holds a master of science degree in engineering studies from ETH Zurich, Swiss Federal Institute of Technology.About StantecCommunities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Stantec, we always design with community in mind.We care about the communities we serve—because they're our communities too. This allows us to assess what's needed and connect our expertise, to appreciate nuances and envision what's never been considered, to bring together diverse perspectives so we can collaborate toward a shared success.We're designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe.Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media.For further information:Investor Contact Tom McMillan  Stantec Investor Relations Ph: 780-917-8159 tom.mcmillan@stantec.com  Media Contact Stephanie Smith Stantec Media Relations Ph: 780-917-7230 stephanie.smith2@stantec.com To subscribe to Stantec’s email news alerts, please fill out the subscription form, which is available on the Contact Information page of the Investors section at Stantec.com. Design with community in mind
New greenfield hospital working toward being Canada’s first healthcare facility to achieve WELL certificationEDMONTON, Alberta and NEW YORK and TORONTO, Nov. 24, 2020 (GLOBE NEWSWIRE) -- TSX, NYSE: STN Global design firm, Stantec, was selected to provide planning, design, and conformance (PDC) services for the new South Niagara Hospital in Niagara Falls, Ontario. Having previously completed the campus plan for Niagara Health, Stantec’s healthcare team is now providing the illustrative schematic design, as well as detailed output specifications for the full range of design and construction requirements. Throughout the project duration, Stantec will evaluate conformance to design and construction requirements for the new hospital.“In designing South Niagara Hospital, our team will deploy the latest best practices in healthcare design to create a welcoming, sustainable, and efficient facility for the residents of Niagara Falls and the surrounding area,” said John Steven, senior principal for Stantec’s Health sector. “The current pandemic has underlined the need to expand capacity and access to critical healthcare services within our existing health systems. We’re excited to continue our work with Niagara Health to support the health and well-being of the community.”When complete, the South Niagara Hospital will span 1.3 million square feet on a 49.8-acre greenfield site. As an integral part of a connected healthcare system, the new facility will improve the patient and caregiver experience and strengthen access to local services.The Facility at a Glance The new South Niagara Hospital is proposed to be a 470-bed, full acute care hospital featuring centers of excellence specializing in stroke, complex care, geriatric and psychogeriatrics, and wellness in aging. It will also include a 24/7 emergency department and services for critical care, surgical, mental health and addiction, kidney care and dialysis, and testing and research.Upon opening, the hospital will be one of the first Canadian healthcare facilities to achieve WELL certification. Designing to WELL standards prioritizes the health and well-being of the staff, patients, and visitors by focusing on 10 concepts: air, water, nourishment, light, movement, thermal comfort, sound, materials, mind, and community.Scheduled to be operational in 2027, South Niagara will greatly expand access to world-class healthcare treatment for the community and regional residents.Supporting a Growing Need The collective planning, design, and conformance services provide design excellence focused on optimal clinical operations, flexibility, sustainability, and accessibility. Stantec has provided PDC services for a number of recently opened healthcare facilities in Eastern Canada, including Etobicoke General Hospital, Groves Memorial Community Hospital, Milton District Hospital and Oakville Trafalgar Memorial Hospital for Halton Healthcare Services, Bridgepoint Health Redevelopment, and Waypoint Centre for Mental Health Care.Learn more about Stantec’s healthcare work here.About Stantec Communities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Stantec, we always design with community in mind.We care about the communities we serve—because they're our communities too. This allows us to assess what's needed and connect our expertise, to appreciate nuances and envision what's never been considered, to bring together diverse perspectives so we can collaborate toward a shared success.We're designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe.Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media.For more information about Stantec’s response to COVID-19, visit Responding to COVID-19.Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements regarding the project described above, including statements regarding Stantec’s role and involvement on the project. Forward-looking statements also include any other statements that do not refer to historical facts. By their nature, forward-looking statements are based on assumptions and subject to inherent risks and uncertainties. Except as may be required by law, Stantec undertakes no obligation to publicly update or revise any forward-looking statements. Forward‑looking statements are provided herein for the purpose of giving information about the proposed project referred to above and its expected impact. Readers are cautioned that such information may not be appropriate for other purposes.Media Contact Danny Craig Stantec Media Relations Ph (949) 923-6085 danny.craig@stantec.comInvestor Contact Tom McMillan Stantec Investor Relations Ph (780) 917-8159 tom.mcmillan@stantec.com Design with community in mind
17 Nov, 2020
AV consulting program partners with industry leaders to safely develop, test, and deploy automated vehicle projects using proprietary tools and technology EDMONTON, Alberta and NEW YORK, Nov. 17, 2020 (GLOBE NEWSWIRE) -- TSX, NYSE: STNLeading global design firm Stantec recently launched Stantec GenerationAV™ to assist clients in deploying autonomous vehicle (AV) projects. As AV innovation has continued to advance, leaders across industry sectors have been seeking centralized resources and experienced experts to better harness this new technology. Stantec GenerationAV™ is a full consulting program that draws from the experience on dozens of deployment projects, using a data-driven process to remove barriers to AV programs most commonly identified by clients: selecting technology suppliers, addressing regulatory requirements, and building an efficient roadmap to safe deployment. An expansive partnership network is a central aspect of Stantec GenerationAV™, continually seeking out cutting edge technology and specialists to fill in industry gaps and create new opportunities for deployment.According to a Stantec-sponsored survey of leaders from 100 cities around the world, 44 percent said the complexity of procurement is a major obstacle in expanding their use of smart technologies. Another 37 percent identified keeping pace with technological change as a challenge, and 36 percent identified policy and regulatory barriers. Lack of experience in launching an AV program is another key factor in deployment delays and cost inefficiencies. In North America, only about 2 percent of public and private agencies have this experience, with most of it centered around piloting low speed autonomous vehicles to move people.“There is a lot of desire out there to harness the power of AVs, but very little in terms of resources that connect all the necessary dots,” said Corey Clothier, Director of Stantec GenerationAV™. “The technology is there to make our transportation systems safer, cleaner, and more equitable for our communities. Stantec GenerationAV™ is going to get us there sooner through comprehensive education, strategic connections, and smart, fit-for-purpose deployments.”The team behind Stantec GenerationAV™ has been working for more than ten years to develop a proprietary roadmap to autonomous vehicle deployment encompassing risk assessments, operational protocols, policy considerations and stakeholder engagement. From early work with the US Department of Defense, to the first AV pilots in the United States and United Kingdom, to more recent deployments, the team has consulted on getting projects moving safely while applying important lessons learned to different mobility modes.The Stantec GenerationAV™ comprehensive business case and roadmap have been shown to accelerate an AV deployment by three to six months, which translates to a more efficient use of time, effort, and resources. In some cases, a roadmap has fully eliminated the need for a Request for Information process, allowing agencies to deploy their AV pilot more quickly.As clients increasingly look to deploy AVs, the tools and services offered through the Stantec GenerationAV™ consulting program will complement Stantec’s global architecture, engineering, planning and design services to offer clients wide-ranging solutions for their transportation systems. The Stantec GenerationAV™ proprietary supplier database is a source of information that shortens the deployment cycle, as well as time and money spent. Soon to be launched training and education programs will give clients the foundation to manage their deployments and plan for the future. With a roadmap in place and a vision to meet the future needs of the community, small innovative pilots can be safely scaled over time.“Driving is one of our most dangerous daily activities, and AVs will make our roads considerably safer in the future,” continued Clothier. “From my early work with the US military, safety of service members was a primary driver for AV technology. By starting small we can keep safety front and center, and scale over time to the benefit of our communities.”Key industry partnershipsKey partnerships with the top firms and technology providers in the industry will be an important ingredient in providing solutions and resources to clients. Successful AV deployments involve myriad components across hardware, software, operations, engineering, planning and policy, each of which is their own fast-moving area of expertise.Current AVs are challenged by unpredictable events on the road, leading to issues such as overcautious driving, phantom braking, and trouble with unprotected turns. To help AVs perform better in complex situations, GenerationAV™ has partnered with dRISK, a firm who has been awarded a major grant from the UK’s Department for Transport to productize the first true driver’s test for autonomous vehicles. dRISK’s knowledge graph technology encodes and then directly tests AVs on a huge diversity of edge cases – the driving scenarios which are individually unlikely but together make up most of the risk on the road. With tools to allow the AV developer, insurer and transport authority to demonstrates exceptional performance on everything that can go wrong in the operational domain before the AV hits the streets, dRISK measurably improves safety and performance of the AV deployment.Software and human reliability company Icarus Ops brings aboard decades of expertise in error prevention and compliance. Utilizing operational safety practices from the aviation industry, Icarus integrates software, mobile technology, online tools, and consulting into operations protocols to increase AV reliability on the road through verifiable compliance.POCO Labs specializes in design thinking, stakeholder, and end user research, and is a global leader in AVs and AV-related markets. The firm founded the Autonomous Vehicle Alliance to facilitate collaboration among industry leaders and identify new use cases and value propositions in the evolving AV landscape.  The partnership with POCO Labs provides a holistic perspective on the intersection between the built environment and new mobility solutions to drive more impactful AV deployments.Stantec GenerationAV™ will continue to seek best in class partners as it develops its full suite of products and services.Innovation Office Launched @ Stantec Stantec GenerationAV™ is a Stantec-funded program created in concert with the 2020 launch of Stantec’s Innovation Office, which was designed to identify, incubate, accelerate, and operationalize client-focused research into scalable infrastructure solutions. In early 2020, Stantec formally launched its Innovation Office to centrally drive the development of products and services by mobilizing an incubator which underwrites hundreds of company-funded grants for employee practitioners to develop client-facing, creative project solutions. Annually, the organization will select a targeted number of staff innovations – from a pool of up to 500 applicants – for deeper investment and companywide deployment.Leading the Innovation Office is Marshall Davert, PE, PhD, who was appointed as the firm’s Chief Innovation Officer in late 2019. In that role, Davert spearheads the company’s forward-looking innovation strategy while continuing the organization’s decade-plus-long commitment to company-funded research and ideation. Thus far, Stantec has awarded more than $13.1 million in pledged grants through 315 projects being carried out by employees, many of which are focused on solving community infrastructure and natural systems challenges.Learn more about Stantec GenerationAV™.About Stantec Communities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Stantec, we always design with community in mind.We're designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe.Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media.For more information about Stantec’s response to COVID-19, visit Responding to COVID-19.Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements regarding the program described above. Forward-looking statements also include any other statements that do not refer to historical facts. By their nature, forward-looking statements are based on assumptions and subject to inherent risks and uncertainties. There is a risk that the projects carried out under the program described above may be delayed, cancelled, suspended or terminated. This could cause future results to differ materially from the forward-looking statements made in this news release. Except as may be required by law, Stantec undertakes no obligation to publicly update or revise any forward-looking statements. Forwardlooking statements are provided herein for the purpose of giving information about the program referred to above and its expected impact. Readers are cautioned that such information may not be appropriate for other purposes.Media Contact                                 Danny Craig Stantec Media Relations Ph (949) 923-6085 danny.craig@stantec.com                                   Investor Contact Tom McMillan Stantec Investor Relations Ph (780) 917-8159 tom.mcmillan@stantec.com Design with community in mind
09 Nov, 2020
EDMONTON, Alberta, Nov. 09, 2020 (GLOBE NEWSWIRE) -- TSX, NYSE: STNStantec Inc. (“Stantec”) announced today that it has received approval from the Toronto Stock Exchange (the “TSX”) respecting the renewal of its Normal Course Issuer Bid (“NCIB”). Pursuant to the NCIB documentation filed with the TSX, Stantec may purchase up to 5,605,224 common shares, representing approximately 5% of Stantec’s 112,104,491 issued and outstanding common shares as of November 2, 2020. The purchases may commence on November 16, 2020 and will terminate no later than November 15, 2021. Except for block purchases permitted under the rules and policies of the TSX, the number of shares to be purchased per day will not exceed 56,146 or approximately 25% of the average daily trading volume for the six full calendar months ending October 31, 2020, which is 224,586 shares. Stantec will make the purchases on the open market through the facilities of the TSX or any alternative Canadian trading system, and the prices that Stantec will pay for any common shares will be the market price of such shares at the time of acquisition. All shares purchased by Stantec will be cancelled.The renewal of the NCIB follows on the conclusion of Stantec’s previous NCIB that expires November 13, 2020. From November 14, 2019 to November 6, 2020, Stantec purchased 1,151,244 common shares at a weighted average price of $36.82 per share.Stantec also announced today that, in connection with its intention to implement the NCIB, Stantec has renewed its automatic share purchase plan (the “ASPP”) with a designated broker to allow for the purchase of its common shares under the NCIB, once effective, at times when Stantec normally would not be active in the market due to applicable regulatory restrictions or internal trading black-out periods. Before the commencement of any particular internal trading black-out period, Stantec may, but is not required to, instruct its designated broker to make purchases of Stantec’s common shares under the NCIB during the ensuing black-out period in accordance with the terms of the ASPP. Such purchases will be determined by the broker in its sole discretion based on parameters established by Stantec prior to commencement of the applicable black-out period in accordance with the terms of the ASPP and applicable TSX rules. Outside of these black-out periods, common shares will be purchasable by Stantec at its discretion under its NCIB, once effective.The ASPP will commence on the effective date of the NCIB and will terminate on the earliest of the date on which: (a) the maximum annual purchase limit under the NCIB has been reached; (b) the NCIB expires; or (c) Stantec terminates the ASPP in accordance with its terms. The ASPP constitutes an “automatic securities purchase plan” under applicable Canadian securities laws.Stantec believes that, from time to time, the market price of its common shares does not fully reflect the value of its business and its future business prospects. As a result, Stantec believes at such times that its outstanding common shares represent an attractive investment for Stantec and an appropriate and desirable use of its available funds. This capital deployment strategy is consistent with Stantec’s priority of maintaining balance sheet strength, while reinvesting in organic and acquisitive growth, paying down debt, and increasing dividends, all of which contribute to enhanced shareholder returns.About StantecCommunities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Stantec, we always design with community in mind.We care about the communities we serve—because they're our communities too. This allows us to assess what's needed and connect our expertise, to appreciate nuances and envision what's never been considered, to bring together diverse perspectives so we can collaborate toward a shared success.We're designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe.Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media.For further information:     Investor Contact   Media Contact Tom McMillan   Stephanie Smith Stantec Investor Relations   Stantec Media Relations Ph: 780-917-8159   Ph: 780-917-7230 tom.mcmillan@stantec.com   stephanie.smith2@stantec.com     To subscribe to Stantec’s email news alerts, please fill out the subscription form, which is available on the Contact Information page of the Investors section at Stantec.com.Design with community in mind
04 Nov, 2020
EDMONTON, Alberta and NEW YORK, Nov. 04, 2020 (GLOBE NEWSWIRE) -- TSX, NYSE:STN Stantec today reported its results for the quarter ended September 30, 2020. Unless otherwise indicated, financial figures are expressed in Canadian dollars, and comparisons are to the prior period ended September 30, 2019.Stantec's Q3 2020 adjusted net income increased 5.4% to $69.9 million and adjusted diluted EPS increased 5.1% to $0.62 despite the headwinds caused by the COVID-19 pandemic. Results are consistent with the revised outlook provided in conjunction with Q2 2020 earnings on August 5, 2020.“Stantec's diversification across geographies and sectors, and the steadfast commitment of our talented workforce to our clients, has enabled us to effectively navigate the ongoing challenges of the pandemic,” said Gord Johnston, Stantec’s President and Chief Executive Officer. “Our results this quarter demonstrate that we continue to be thoughtful and deliberate as we manage the whole business, keeping a tight rein on discretionary spending to mitigate revenue and gross margin compression and deliver strong earnings.”Third Quarter 2020 Highlights * Net revenue decreased 3.8%, or $36.1 million, mainly due to organic retraction of 4.7% partially offset by positive foreign exchange fluctuations of 0.9%. Consistent with expectations, the Water business achieved organic growth, while anticipated project slowdowns and deferrals from the COVID-19 pandemic contributed to organic retractions in other businesses and geographies. * Gross margin decreased 7.2%, or $37.0 million, and decreased as a percentage of net revenue from 54.2% to 52.3%, primarily due to the impact of pandemic-related disruptions in the operations of Stantec and its clients as well as project mix. * Administrative and marketing costs were 35.4% of net revenue compared with 37.3% in the prior period primarily as a result of improved operational efficiencies driven by the 2019 reshaping initiative, the implementation of staffing strategies in response to the pandemic, and reduced discretionary spending. Partly offsetting the reductions is $3.9 million in COVID-related expenses incurred primarily for severance. * Adjusted EBITDA from continuing operations was $158.2 million, representing 17.3% of net revenue compared to $159.0 million or 16.7% of net revenue in the prior period. * Net income increased 7.4%, or $4.3 million, to $62.1 million, and diluted EPS increased by 5.8%, or $0.03, to $0.55 as a slight reduction in EBITDA was more than offset by reduced net interest expense and amortization of intangible assets. * Adjusted net income increased 5.4%, or $3.6 million, to $69.9 million, representing 7.6% of net revenue, and adjusted diluted EPS increased 5.1%, or $0.03, to $0.62. * Contract backlog was $4.8 billion at September 30, 2020, a 12.7% increase from December 31, 2019. This represents approximately 12 months of work. * Operating cash flows from continuing operations increased by 17.8% with inflows of $163.8 million compared to $139.0 million in the prior period. * Net debt to adjusted EBITDA (on a trailing twelve-month basis) at September 30, 2020 is 0.8x, below the Company's guideline of 1.0x to 2.0x. * Days sales outstanding (DSO) was 82 days, consistent with June 30, 2020, and remains below the pre-pandemic target of 90 days. * Stantec acquired certain assets and liabilities of Teshmont Consultants LP, a 63-person Canadian-based electrical engineering company, on October 1, 2020. * The Company closed a private placement offering of $300 million senior unsecured notes on October 8, 2020. The proceeds were used to repay a portion of existing indebtedness on Stantec's revolving credit facility.Dividend * On November 4, 2020, the Board of Directors declared a dividend of $0.155 per share, payable on January 15, 2021, to shareholders of record on December 31, 2020.Q3 2020 Financial Summary For the quarter ended September 30,For the three quarters ended September 30,  2020201920202019 (In millions of Canadian dollars,  except per share amounts and percentages)$  % of Net  Revenue$ % of Net  Revenue$ % of Net  Revenue$ % of Net  Revenue Gross revenue1,177.9  128.5%1,241.5 130.3%3,604.0 127.7%3,617.1 128.7% Net revenue916.5  100.0%952.6 100.0%2,822.8 100.0%2,810.3 100.0% Direct payroll costs437.4  47.7%436.5 45.8%1,347.3 47.7%1,288.2 45.8% Gross margin479.1  52.3%516.1 54.2%1,475.5 52.3%1,522.1 54.2% Administrative and marketing expenses324.1  35.4%355.6 37.3%1,035.4 36.7%1,085.1 38.6% Impairment of lease assets0.2  —%— 0.0%11.9 0.4%— 0.0% Other(1.8) (0.2%)2.6 0.3%8.1 0.3%1.0 —% EBITDA from continuing operations (note)156.6  17.1%157.9 16.6%420.1 14.9%436.0 15.5% Depreciation of property and equipment14.3  1.6%15.1 1.6%43.7 1.5%43.5 1.5% Depreciation of lease assets29.6  3.2%29.3 3.1%89.8 3.2%85.2 3.0% Amortization of intangible assets13.6  1.5%17.0 1.8%41.4 1.5%50.0 1.8% Net interest expense11.5  1.3%17.2 1.8%39.0 1.4%52.1 1.9% Income taxes25.5  2.8%21.5 2.3%62.0 2.2%53.2 1.9% Net income from continuing operations62.1  6.8%57.8 6.1%144.2 5.1%152.0 5.4% Net income from discontinued operations—  0.0%— 0.0%10.2 0.4%— 0.0% Net income62.1  6.8%57.8 6.1%154.4 5.5%152.0 5.4% Basic earnings per share (EPS) from continuing operations0.55  n/m 0.52 n/m 1.29 n/m 1.36 n/m  Diluted EPS from continuing operations0.55  n/m 0.52 n/m 1.29 n/m 1.36 n/m  Adjusted EBITDA from continuing operations (note)158.2  17.3%159.0 16.7%440.4 15.6%431.5 15.4% Adjusted net income from continuing operations (note)69.9  7.6%66.3 7.0%181.9 6.4%172.7 6.1% Adjusted diluted EPS from continuing operations (note)0.62  n/m 0.59 n/m 1.62 n/m 1.55 n/m  Dividends declared per common share0.155  n/m 0.145 n/m 0.465 n/m 0.435 n/m  note: EBITDA, adjusted EBITDA, adjusted net income, and adjusted diluted EPS are non-IFRS measures (discussed in the Definitions sections of the 2019 Annual Report and the Q3 2020 Management's Discussion and Analysis).n/m = not meaningful             OutlookStantec’s vision to be a top-10 global design firm that maximizes long-term, sustainable value has not changed. And its value creators of Excellence, Innovation, People, and Growth remain central to the Company’s strategy of growing and diversifying sustainably for the benefit of its clients, employees and shareholders. Stantec remains committed to its strategic plan, launched in December 2019. However, disruption caused by the COVID-19 pandemic will likely delay the achievement of its targets within the original timeframe. At this time, the Company is unable to set a revised timeline with a high degree of confidence.As it has done since the pandemic began, the Company has projected its expectations for nearer term financial performance. Stantec’s business is well diversified across geographies and sectors, with a project mix that is more heavily weighted toward public sector end clients. This, combined with the strength of its balance sheet and the commitment of its talented workforce, allows Stantec to be well positioned to withstand the continuing challenges caused by the pandemic.Targets for the remainder of 2020 and for 2021 are based on the assumption of a continued gradual global recovery but may not be valid should the Company’s key geographies experience a severe worsening of the pandemic.2020 Outlook As a result of the unprecedented uncertainty caused by the COVID-19 pandemic, on May 6, 2020 Stantec withdrew its 2020 guidance that was previously provided on page M-10 of its 2019 Annual Report.Organic net revenue in Q3 2020 retracted nominally compared to Q2 2020 and as compared to Q3 2019. This was consistent with the Q3 outlook provided in the Company’s Q2 2020 Management's Discussion and Analysis (“MD&A”), although US net revenue retracted slightly more than expected. While client requests for pricing concessions in certain sectors and specific geographies, and competitive pressures brought on by the pandemic have subsided somewhat, continued pressure on revenues is expected for the remainder of the year. Accordingly, net revenue is expected to retract nominally in the fourth quarter as compared to the same period last year, with full-year 2020 net revenue expected to be comparable to, although slightly below, 2019. A geographic breakdown of the net revenue forecast can be found in the Outlook section of this quarter's MD&A.Gross margin compression is expected through the balance of the year, as pandemic-related disruptions in the operations of Stantec and its clients, along with the effects of project mix, continue. The impact of lower gross margin is expected to be mitigated through measures taken to contain discretionary spending, implemented at the start of the pandemic.Stantec’s proactive response to managing discretionary spending has maintained adjusted EBITDA and adjusted net income margins at healthy levels, while also preserving the quality and integrity of the workforce to ensure Stantec is positioned to quickly rebound as the economic recovery begins.2020 adjusted net income and adjusted diluted EPS are expected to be comparable to 2019.Stantec’s balance sheet and liquidity continue to be strong and leverage is expected to remain at or below the low end of the 1.0x to 2.0x net debt to adjusted EBITDA range for the balance of 2020.Summary of targets for 2020Against the backdrop of continued uncertainty brought on by the pandemic, the outlook for 2020 includes: * 2020 net revenues that are comparable to, although slightly below, 2019; * Adjusted net income and adjusted diluted EPS comparable to 2019; * 55% of adjusted earnings in Q2 and Q3, and 45% in Q1 and Q4; and * Net debt to adjusted EBITDA at or below the low end of the internal range of 1.0x to 2.0x.Annual Targets for 2021Stantec expects the business to continue to demonstrate resilience and generate solid earnings in 2021. 2021 Target Range (In millions of Canadian dollars, unless otherwise stated)  Targets  Adjusted EBITDA as % of net revenue (note)14.5% to 15.5% Adjusted net income as % of net revenue (note)At or above 6.0% Return on invested capital (note)At or above 9.0%    Other expectations  Gross margin as % of net revenue52% to 53.5% Administrative and marketing expenses as % of net revenue37% to 39% Net debt to adjusted EBITDA (note)1.0x to 2.0x Capital expenditures (including software)$60 to $65 Depreciation on property and equipment$60 to $65 Depreciation on leased assets$112 to $117 Amortization of intangible assets related to acquisitions$28 to $33 All other amortization of intangible assets$6 to $9 Effective tax rate (without discrete transactions)27% to 28% Earnings pattern40% in Q1 and Q4 60% in Q2 and Q3 Days sales outstanding90 days In setting targets and guidance, an average value for the Canadian dollar of $0.76 USD and £0.58 GBP was assumed (discussed in the Assumptions section of the Q3 2020 Management's Discussion and Analysis).note: EBITDA, adjusted EBITDA, and adjusted net income are non-IFRS measures and ROIC and DSO are metrics discussed in the Definitions section of the Q3 2020 Management's Discussion and Analysis.Organic net revenue growth in 2021 is expected to be in the low to mid-single digits. Global is expected to generate mid-single digit growth, driven by anticipated strong performance in the regulated water market and with stimulus funds beginning to flow to catalyze the respective economies. Organic growth in Canada, which is also expected to be in the mid-single digits, will be driven by work in the midstream pipeline space as activity is anticipated to reach peak levels in 2021. Excluding this activity, organic growth in Canada is expected to be in the low single digits. Stantec anticipates muted net revenue growth in the US. The potential upside from a US stimulus bill has not been incorporated in the Company’s revenue expectations due to the uncertainty around the timing of such legislation being passed. Historically, there is a lag between the passing of such a bill and the recognition of revenue from beneficiary projects. Gross margin in 2021 is expected to be in the range of 52% to 54%, which is consistent with Stantec's 2020 performance. This reflects several factors attributable to the pandemic, mainly the expectation that the pandemic will continue to impact productivity both within the operations of Stantec and its clients, and an anticipated meaningful increase in the cost of employee group benefits. 2021 gross margin is also expected to be impacted by an increased volume of lower margin work on a large midstream pipeline project and several lower-margin, multi-billion-dollar transportation projects which are nearing completion.The target range for administrative and marketing costs in 2021 is 37% to 39% of net revenue. This range reflects a more normalized level of discretionary spending relative to 2020, but not a return to pre-pandemic levels. Certain non-discretionary costs are also expected to increase including insurance, employee group benefits associated with indirect labor, and stock-based compensation, which reflects the recent appreciation in Stantec's share price. As well, the Company intends to increase its investments in information technology systems to support the Company’s growing US Federal Government practice, and to drive its innovation initiatives.With gross margin expected to hold steady relative to 2020 and a year-over-year increase in administrative and marketing costs, adjusted EBITDA is expected to be in the range of 14.5% to 15.5%. This target range, which reflects the realities of a more muted economic environment than recent years, is expected to continue to be amongst the best in the industry.Adjusted net income is expected to benefit from lower interest expense and depreciation and amortization, driving to a margin of 6.0% or greater of net revenue.Stantec continues to advance its strategic initiative to optimize occupancy costs beyond those locations identified to date, which could result in the recording of lease asset impairments – non-cash charges that reflect the change in  plans to utilize space that is currently under lease – with the long-term benefit of reduced occupancy costs and increased earnings and cash flows. As analysis is ongoing, Stantec's 2021 targets do not yet include the potential benefit from further optimization.Acquisition activity has resumed after pausing for much of 2020. It should be noted that the above targets do not include any assumed acquisitions given the unpredictable nature of the size and timing of such acquisitions.Tomorrow’s Conference CallOn Thursday, November 5, 2020, at 7:00 AM MT (9:00 AM ET), Gord Johnston, President and Chief Executive Officer, and Theresa Jang, Executive Vice President and Chief Financial Officer, will hold a conference call to discuss the Company’s third quarter performance.The webcast and slide presentation can be accessed at the following link: https://edge.media-server.com/mmc/p/wzr7timeThe conference call and slideshow presentation will be broadcast live and archived in their entirety in the Investors section of stantec.com. Participants wishing to listen to the call via telephone may dial in toll-free at 1-888-394-8218 (Canada and United States) or +1-647-484-0475 (international). Please provide confirmation code 9113413 when prompted.About StantecCommunities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Stantec, we always design with community in mind. We care about the communities we serve—because they're our communities too. This allows us to assess what's needed and connect our expertise, to appreciate nuances and envision what's never been considered, to bring together diverse perspectives so we can collaborate toward a shared success.We're designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe.Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media.Cautionary Statements Stantec’s EBITDA, adjusted EBITDA, adjusted net income, adjusted basic and diluted earnings per share, net debt to adjusted EBITDA are non-IFRS measures. For a definition and explanation of non-IFRS measures, refer to the Critical Accounting Estimates, Developments, and Measures section of the Company’s Third Quarter 2020 report and the reconciliation of Non-IFRS Financial Measures appended hereto.Certain statements contained in this news release constitute forward-looking statements. Forward-looking statements in this news release include, but are not limited to, Stantec's Annual Targets for 2021 in their entirety, Stantec's 2020 Outlook in its entirety, the timing and ability to achieve the targets laid out in the Three-Year strategic plan Stantec launched in December 2019, its position to withstand the challenges caused by the pandemic, any projections related to revenue, gross margin, utilization and days sales outstanding, and that the Company does not believe its credit risk has increased meaningfully as a result of the pandemic. Any such statements represent the views of management only as of the date hereof and are presented for the purpose of assisting the Company’s shareholders in understanding Stantec’s operations, objectives, priorities, and anticipated financial performance as at and for the periods ended on the dates presented and may not be appropriate for other purposes. By their nature, forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. Stantec's assumptions relating to Stantec's Annual Targets for 2021 and Stantec's 2020 Outlook are provided in the Company’s Third Quarter 2020 report.Readers of this news release are cautioned not to place undue reliance on forward-looking statements since a number of factors could cause actual future results to differ materially from the expectations expressed in these forward-looking statements. These factors include, but are not limited to, the risk of economic downturn, project cancellations and a slowdown in new opportunities related to COVID-19, decreased infrastructure spending levels, changing market conditions for Stantec’s services, and the risk that Stantec fails to capitalize on its strategic initiatives. Investors and the public should carefully consider these factors, other uncertainties, and potential events, as well as the inherent uncertainty of forward-looking statements, when relying on these statements to make decisions with respect to the Company.For more information about how other material risk factors could affect Stantec’s results, refer to the Risk Factors section and Cautionary Note Regarding Forward-Looking Statements section in the Company’s Third Quarter 2020 report. You may access this report online by visiting EDGAR on the SEC website at sec.gov or by visiting the CSA website at sedar.com or Stantec’s website, stantec.com. You may obtain a hard copy of the Third Quarter 2020 report free of charge from the investor contact noted below.                   To subscribe to Stantec’s email news alerts, please fill out the subscription form, which is available on the Contact Information page of the Investors section at Stantec.com.Design with community in mindAttached to this news release are Stantec’s consolidated statements of financial position, consolidated statements of income and reconciliation of non-IFRS measures.Interim Condensed Consolidated Statements of Financial Position (Unaudited) Sep 30, 2020 Dec 31, 2019  (In millions of Canadian dollars)$ $  ASSETS     Current     Cash and deposits228.4  223.5  Trade and other receivables731.4  817.7  Unbilled receivables435.3  374.2  Contract assets76.8  67.5  Income taxes recoverable55.7  36.2  Prepaid expenses37.7  42.9  Other assets37.8  18.1  Total current assets1,603.1  1,580.1  Non-current     Property and equipment269.0  286.5  Lease assets500.2  558.5  Goodwill1,685.9  1,651.8  Intangible assets183.1  219.6  Investments in joint ventures and associates9.7  8.8  Net employee defined benefit asset37.3  26.0  Deferred tax assets31.4  31.9  Other assets184.7  198.3  Total assets4,504.4  4,561.5  LIABILITIES AND EQUITY     Current     Bank indebtedness31.9  19.5  Trade and other payables567.5  576.4  Lease liabilities105.3  99.9  Deferred revenue186.8  199.2  Income taxes payable30.5  28.4  Long-term debt40.9  46.9  Provisions22.6  23.9  Other liabilities12.0  12.1  Total current liabilities997.5  1,006.3  Non-current     Lease liabilities533.7  589.0  Income taxes payable10.7  11.6  Long-term debt605.2  814.0  Provisions110.2  89.1  Net employee defined benefit liability76.3  85.2  Deferred tax liabilities79.3  73.2  Other liabilities38.7  16.0  Total liabilities2,451.6  2,684.4  Shareholders’ equity     Share capital938.1  879.8  Contributed surplus13.9  23.9  Retained earnings995.9  917.7  Accumulated other comprehensive income103.7  54.1  Total shareholders’ equity2,051.6  1,875.5  Non-controlling interests1.2  1.6  Total liabilities and equity4,504.4  4,561.5  Interim Condensed Consolidated Statements of Income(Unaudited)  For the quarter ended September 30,For the three quarters ended September 30,   2020  2019  2020  2019  (In millions of Canadian dollars, except per share amounts) $  $  $  $  Continuing operations             Gross revenue 1,177.9   1,241.5  3,604.0   3,617.1  Less subconsultant and other direct expenses 261.4   288.9  781.2   806.8         Net revenue 916.5   952.6  2,822.8   2,810.3  Direct payroll costs 437.4   436.5  1,347.3   1,288.2         Gross margin 479.1   516.1  1,475.5   1,522.1  Administrative and marketing expenses 324.1   355.6  1,035.4   1,085.1  Depreciation of property and equipment 14.3   15.1  43.7   43.5  Impairment of lease assets 0.2   —  11.9   —  Depreciation of lease assets 29.6   29.3  89.8   85.2  Amortization of intangible assets 13.6   17.0  41.4   50.0  Net interest expense 11.5   17.2  39.0   52.1  Other net finance expense 0.9   1.2  3.3   3.8  Share of income from joint ventures and associates (0.9) (0.3) (1.1) (0.7) Foreign exchange loss (gain) 0.3   1.5  (0.2) 4.2  Other (income) expense (2.1) 0.2  6.1   (6.3)               Income before income taxes and discontinued operations 87.6   79.3  206.2   205.2                Income taxes             Current 25.4   15.4  55.6   30.0  Deferred 0.1   6.1  6.4   23.2                Total income taxes 25.5   21.5  62.0   53.2                Net income for the period from continuing operations 62.1   57.8  144.2   152.0                Discontinued operations             Net income from discontinued operations, net of tax —   —  10.2   —                Net income for the period 62.1   57.8  154.4   152.0                Weighted average number of shares outstanding - basic 111,898,810   111,539,779  111,537,905   111,672,688         Weighted average number of shares outstanding - diluted 112,403,434   111,547,779  111,957,863   111,672,688                Shares outstanding, end of the period 112,100,709   111,293,111  112,100,709   111,293,111                Earnings per share, basic and diluted                           Continuing operations, basic 0.55   0.52  1.29   1.36  Discontinued operations, basic —   —  0.09   —                Total basic earnings per share 0.55   0.52  1.38   1.36  Continuing operations, diluted 0.55   0.52  1.29   1.36  Discontinued operations, diluted —   —  0.09   —                Total diluted earnings per share 0.55   0.52  1.38   1.36  Reconciliation of Non-IFRS Financial Measures For the quarter ended September 30, For the three quarters ended September 30, (In millions of Canadian dollars, except per share amounts)2020  2019  2020 2019              Net income from continuing operations62.1  57.8  144.2 152.0  Add back:           Income taxes25.5  21.5  62.0 53.2  Net interest expense11.5  17.2  39.0 52.1  Depreciation and amortization57.5  61.4  174.9 178.7  EBITDA from continuing operations156.6  157.9  420.1 436.0              Add back (deduct) pre-tax:           Unrealized loss (gain) on investments held on equity securities(2.5) (1.4) 4.5 (7.0) Impairment of lease assets0.2  —  11.9 —  COVID-related expenses3.9  —  3.9 —  Severance related to organizational reshaping—  2.5  — 2.5  Adjusted EBITDA from continuing operations158.2  159.0  440.4 431.5   For the quarter ended September 30, For the three quarters ended September 30, (In millions of Canadian dollars, except per share amounts)2020  2019  2020 2019              Net income from continuing operations62.1  57.8  144.2 152.0  Add back (deduct) after tax:           Amortization of intangible assets related to acquisitions (note 1)6.6  7.6  20.6 22.7  Unrealized loss (gain) on investments held on equity securities (note 2)(1.8) (0.9) 3.2 (4.9) Impairment of lease assets (note 3)0.2  —  8.5 —  COVID-related expenses (note 4)2.8  —  2.8 —  Severance related to organizational reshaping (note 5)—  1.8  — 1.8  Reorganization tax expense (note 6)—  —  2.6 —  Transition tax expense (note 6)—  —  — 1.1  Adjusted net income from continuing operations69.9  66.3  181.9 172.7              Weighted average number of shares outstanding - basic111,898,810  111,539,779  111,537,905 111,672,688  Weighted average number of shares outstanding - diluted112,403,434  111,547,779  111,957,863 111,672,688              Adjusted earnings per share from continuing operations           Adjusted earnings per share - basic0.62  0.59  1.63 1.55  Adjusted earnings per share - diluted0.62  0.59  1.62 1.55  See the Definitions section of the 2019 Annual Report and Q3 2020 Management's Discussion and Analysis for the discussion of non-IFRS measures used. Construction Services operations are presented as discontinued operations. This table has been updated to include only continuing operation results.note 1: The add back of intangible amortization relates only to the amortization from intangible assets acquired through acquisitions and excludes the amortization of software purchased by Stantec. For the quarter ended September 30, 2020, this amount is net of tax of $2.6 (2019 - $3.0). For the three quarters ended September 30, 2020, this amount is net of tax of $8.3 (2019 - $8.8). note 2: For the quarter ended September 30, 2020, this amount is net of tax of ($0.7) (2019 - ($0.4)). For the three quarters ended September 30, 2020, this amount is net of tax of $1.3 (2019 - ($2.0)). note 3: For the quarter ended September 30, 2020, this amount is net of tax of less than $0.1 (2019 - nil). For the three quarters ended September 30, 2020, this amount is net of tax of $3.4 (2019 - nil). note 4: For the quarter ended September 30, 2020, this amount is net of tax of $1.1 (2019 - nil). For the three quarters ended September 30, 2020, this amount is net of tax of $1.1 (2019 - nil). note 5: For the quarter ended September 30, 2020, this amount is net of tax of nil (2019 - $0.7). For the three quarters ended September 30, 2020, this amount is net of tax of nil (2019 - $0.7). note 6: Refer to Income Taxes section of the Q3 2020 Management's Discussion and Analysis for further details.  CONTACT: Investor Contact Tom McMillan Stantec Investor Relations Ph: 780-917-8159 tom.mcmillan@stantec.com Media Contact Stephanie Smith Stantec Media Relations Ph: 780-917-7230 stephanie.smith2@stantec.com
27 Oct, 2020
Pure Water program to maximize use and reuse of city water and reduce ocean discharges EDMONTON, Alberta, NEW YORK and SAN DIEGO, Oct. 27, 2020 (GLOBE NEWSWIRE) -- TSX, NYSE:STNThe Pure Water San Diego program recently reached a critical milestone, paving the way for Phase 1 of the US$3-billion program to supply local, sustainable water to San Diego’s more than 1.4 million residents. The project secured a first-of-its-kind National Pollutant Discharge Elimination System (NPDES) permit to add purified water to the Miramar Reservoir. Global design firm Stantec, in partnership with Brown and Caldwell, has been working with the City of San Diego (the City) since 2015 to bring this critical program to life and supply safe, high-quality water for California’s second largest city.Pure Water San Diego is a phased, multiyear program to transform the City’s existing system to maximize the use and reuse of its own water supply and offer a cost-effective investment for San Diego’s water needs. Due to limited local water sources, 85 percent of San Diego’s water is currently imported from the Colorado River and California State Water Project. Only 8 percent of the City’s wastewater is beneficially reused. At its completion in 2035, the Pure Water program will provide one-third of San Diego’s water supply locally—crucially important as the cost of importing water has tripled in the last 15 years. This project will make the City more water independent and resilient against drought, climate change, and natural disasters, as well as reduce the City’s ocean wastewater discharges by more than 50 percent.Stantec is leading the team to provide program management services for this historic multibillion-dollar initiative. The firm’s involvement includes creating a program-wide delivery strategy and robust program governance structure with associated procedures, plans (e.g., risk, quality), controls, business processes, and reporting requirements. Stantec developed preliminary designs and is providing independent review of final designs, construction planning, and operation and maintenance readiness planning. The Stantec team also currently provides the City with ongoing regulatory support.“Pure Water San Diego is not only a signature project for the State of California but one of the most innovative infrastructure solutions to build a secure, sustainable water supply program in the United States,” said Doug Owen, Stantec’s Pure Water Consultant Program Manager. “Today we are transitioning from a visionary program to an action-based plan. We are honored to be a part of this truly transformational project.”Phase 1 of the program includes a series of facilities and pipelines to clean recycled water and produce 30 million gallons per day (113.6 million litres) of high-quality, purified water. The purified water will blend with the City’s imported and local water sources and be re-treated at the Miramar Water Treatment Plant before distribution to the public. Phase 1 key projects include the Morena Pump Station and Pipelines, North City Water Reclamation Plant Expansion, North City Pure Water Facility, and North City Pure Water Pump Station and Pipeline. The City has released a solicitation schedule for construction bids for Phase 1 and expects to receive bids on two of the larger construction contracts this month.“Water supply is perhaps the most critical issue that San Diego must continue to address given its semiarid climate and reliance on imported supplies,” says John Stufflebean, Assistant Director of the San Diego Public Utilities Department. “Pure Water San Diego is an essential component to ensure the long-term health and vibrancy of one of the world’s most desirable places to live.”Phase 2 of Pure Water San Diego—now in the planning stage—will involve constructing one or more additional advanced water treatment plants that will feed water into Lake Murray and the San Vicente Reservoir, ultimately providing a total of 83 million gallons per day (314.2 million litres) of recycled water for indirect potable use.Pure Water San Diego builds on Stantec’s expertise in delivering large scale water projects across California. In northern California, Stantec assisted the Sacramento County Water Agency with the Vineyard Surface Water Treatment Plant, helping reduce dependency on local groundwater resources by providing high-quality drinking water from the Sacramento River. Additionally, Stantec is partnering with the Metropolitan Water District of Southern California to develop a regional recycled water supply augmentation program. Most recently, in Los Angeles, the global firm announced its partnership with Kiewit to help remediate the San Fernando Valley Groundwater Basin and deliver clean drinking water to more than 800,000 Angelenos.About StantecCommunities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Stantec, we always design with community in mind.We care about the communities we serve—because they're our communities too. This allows us to assess what's needed and connect our expertise, to appreciate nuances and envision what's never been considered, to bring together diverse perspectives so we can collaborate toward a shared success.We're designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe.Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media.About Brown and CaldwellHeadquartered in Walnut Creek, Calif., Brown and Caldwell is a full-service environmental engineering and construction firm with 52 offices and 1,700+ professionals across North America and the Pacific. For more than 70 years, our creative solutions have helped municipalities, private industry, and government agencies successfully overcome their most challenging water and environmental obstacles. As an employee-owned company, Brown and Caldwell is passionate about exceeding our clients’ expectations and making a difference for our employees, our communities, and our environment. For more information, visit www.brownandcaldwell.com.Cautionary Note Regarding Forward-Looking StatementsThis news release contains forward-looking statements regarding the projects described above, including statements regarding Stantec’s role and involvement on the projects. Forward-looking statements also include any other statements that do not refer to historical facts. By their nature, forward-looking statements are based on assumptions and subject to inherent risks and uncertainties. There is a risk that the projects described above may be delayed, cancelled, suspended or terminated. This could cause future results to differ materially from the forward-looking statements made in this news release. Except as may be required by law, Stantec undertakes no obligation to publicly update or revise any forward-looking statements. Forwardlooking statements are provided herein for the purpose of giving information about the projects referred to above and their expected impact. Readers are cautioned that such information may not be appropriate for other purposes.Media Contact                                 Danny Craig Stantec Media Relations Ph: 949-923-6085 danny.craig@stantec.com                                  Investor Contact Tom McMillan Stantec Investor Relations Ph: 780-917-8159                                           tom.mcmillan@stantec.comDesign with community in mind
14 Sep, 2020
We can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made...