Stantec Inc (STN) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Santec's fourth quarter and full year 2025 results webcast and conference call. Leading the call today are Gord Johnston, President and Chief Executive Officer, and Vito Comoni, Executive Vice President and Chief Financial Officer. Santec invites those dialing in to view the slide presentation, which is available in the investor section at Santec.com. Today's call is being webcast. Please be advised that if you have dialed in while also viewing the webcast, you should mute your computer as there is a delay between the call and the webcast. All information provided during this conference call is subject to the forward-looking statement qualifications set out on slide two, detailed in SANTEC's management discussion and analysis, and incorporated in full for the purpose of today's call. Unless otherwise noted, dollar amounts discussed in today's call are expressed in Canadian dollars and are generally rounded. With that, I'll turn the call over to Mr. Gord Johnston. Good morning, everyone, and thank you for joining us today. 2025 marked another record year for Stantec. We delivered solid mid-single-digit organic growth and completed three acquisitions, despite a year of ongoing geopolitical uncertainty. Global trends across the water, mission critical, transportation and energy transition sectors continue to underpin strong demand for our services. And our diversified portfolio across sectors and geographies continues to enhance the resilience of our operations. As a result, we grew our net revenue almost 11% compared to 2024 to $6.5 billion, driven by 5% organic, and 3.9% acquisition growth. Organic growth was achieved in all of our regional and business operating units, with our water business achieving almost 11% organic growth. Adjusted EBITDA increased c...