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Researched by Industrial Info Resources (Sugar Land, Texas)--Stantec Incorporated (NYSE:STN) (Edmonton, Alberta) saw first-quarter revenue growth in all of its geographies and business units, and checked off a few acquisitions as well. Growth was driven by energy and mining-related business in Canada, and power, transportation and water-resource infrastructure investments in the U.S. Industrial Info is tracking more than $55 billion in active projects involving Stantec, including $6.3 billion worth that are nearing or under construction.
Click on the image at right for a graph detailing Stantec's active projects, by industry.
Stantec is serving as an environmental permitting consultant on Royal Dutch Shell plc's (NYSE:RDS.A) (The Hague, Netherlands) proposed, $25 billion LNG Canada plant at Kitimat, British Columbia, which is designed to produce as much as 12 million metric tonnes per year of liquefied natural gas (LNG). This project and a proposed, $15 billion second phase that would double capacity by 2025 account for virtually all of the Oil & Gas Production spending associated with Stantec. For more information, see Industrial Info's project reports on Phase I and Phase II.
LNG Canada's prospects have waxed and waned since it was announced years ago, but saw a revival last week when Michael Crothers, president of Shell's Canadian subsidiary, said at the ARC Energy Investment Forum that he was "cautiously optimistic" about it, noting that his company was "getting cost estimates finalized [and working] on the economics," according to Business Vancouver. LNG Canada had previously indicated it was looking at a final investment decision this year, although Crothers said Shell did not have a "definitive time line" for the decision.
Two other positive developments for LNG Canada: JGC Corporation (Yokohama, Japan) and Fluor Corporation (NYSE:FLR) (Irving, Texas) recently were selected to perform engineering, procurement and construction, and British Columbia's Premier John Horgan offered billions of dollars' worth of tax breaks last month to LNG producers, partly in hopes of moving LNG Canada toward a positive decision, according to The Vancouver Sun. For more information, see March 28, 2018, article - British Columbia Cuts LNG Tax to Encourage Development.
If built, LNG Canada would be supplied with 1.7 billion cubic feet per day of natural gas by TransCanada Corporation's (NYSE:TRP) (Calgary, Alberta) Coastal GasLink, a 670-kilometer pipeline. Stantec would perform design-engineering services for several compressor stations on Coastal GasLink, including:
In the Western U.S., Stantec is developing projects in two of the region's fastest-growing markets: tech development centers and alternative fuels. It is serving as civil engineer on Apple Incorporated's (NASDAQ:AAPL) (Cupertino, California) $1 billion data center expansion in Reno, Nevada, which is expected to wrap up in first-quarter 2019. The eight-building addition will host operations for the company's Siri, FaceTime and iMessages features. For more information, see Industrial Info's project report.
Apple's Reno campus now spans 1.1 million square feet and receives all of its power from renewable energy, specifically solar, according to the Reno Gazette Journal.
MWH Global, a subsidiary of Stantec that was acquired in 2016, is performing construction management services for the City of San Francisco's $939 million biosolids digester facility. The proposed project would replace systems at the largest wastewater treatment facility in the city, to more efficiently process 280,000 pounds per day of biosolids into 2 million standard cubic feet per day of biogas and 5 megawatts (MW) of renewable electricity. For more information, see Industrial Info's project report.
Stantec is part of two Power Industry projects under construction in the U.S.: Macquarie Infrastructure Company's (NYSE:MIC) (New York, New York) $240 million unit additions at its energy center in Bayonne, New Jersey, which will add 130 MW to the 512-MW facility through a pair of combustion turbines, and Western Minnesota Municipal Power Agency's (Ortonville, Minnesota) $224 million addition to the Red Rock Lake & Dam Hydro plant in Knoxville, Iowa, which will add a pair of turbines to boost capacity by 36.4 MW. For more information, see Industrial Info's reports on the Bayonne and Red Rock Lake projects.
Stantec reported first-quarter gross revenues of C$1.28 billion (US$1 billion), a 0.4% increase from first-quarter 2017, and net income of C$36.8 million (US$28.8 million), compared with a net loss of C$58 million (US$45.4 million) in the same period last year. This is Stantec's fourth consecutive quarter of revenue growth.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
Click on the image at right for a graph detailing Stantec's active projects, by industry.Stantec is serving as an environmental permitting consultant on Royal Dutch Shell plc's (NYSE:RDS.A) (The Hague, Netherlands) proposed, $25 billion LNG Canada plant at Kitimat, British Columbia, which is designed to produce as much as 12 million metric tonnes per year of liquefied natural gas (LNG). This project and a proposed, $15 billion second phase that would double capacity by 2025 account for virtually all of the Oil & Gas Production spending associated with Stantec. For more information, see Industrial Info's project reports on Phase I and Phase II.
LNG Canada's prospects have waxed and waned since it was announced years ago, but saw a revival last week when Michael Crothers, president of Shell's Canadian subsidiary, said at the ARC Energy Investment Forum that he was "cautiously optimistic" about it, noting that his company was "getting cost estimates finalized [and working] on the economics," according to Business Vancouver. LNG Canada had previously indicated it was looking at a final investment decision this year, although Crothers said Shell did not have a "definitive time line" for the decision.
Two other positive developments for LNG Canada: JGC Corporation (Yokohama, Japan) and Fluor Corporation (NYSE:FLR) (Irving, Texas) recently were selected to perform engineering, procurement and construction, and British Columbia's Premier John Horgan offered billions of dollars' worth of tax breaks last month to LNG producers, partly in hopes of moving LNG Canada toward a positive decision, according to The Vancouver Sun. For more information, see March 28, 2018, article - British Columbia Cuts LNG Tax to Encourage Development.
If built, LNG Canada would be supplied with 1.7 billion cubic feet per day of natural gas by TransCanada Corporation's (NYSE:TRP) (Calgary, Alberta) Coastal GasLink, a 670-kilometer pipeline. Stantec would perform design-engineering services for several compressor stations on Coastal GasLink, including:
- $250 million station in Fraser Lake, British Columbia; see project report
- $50 million station in Dawson Creek, British Columbia; see project report
- $50 million station in Tumbler Ridge, British Columbia; see project report
- $50 million station in Houston, British Columbia; see project report
In the Western U.S., Stantec is developing projects in two of the region's fastest-growing markets: tech development centers and alternative fuels. It is serving as civil engineer on Apple Incorporated's (NASDAQ:AAPL) (Cupertino, California) $1 billion data center expansion in Reno, Nevada, which is expected to wrap up in first-quarter 2019. The eight-building addition will host operations for the company's Siri, FaceTime and iMessages features. For more information, see Industrial Info's project report.
Apple's Reno campus now spans 1.1 million square feet and receives all of its power from renewable energy, specifically solar, according to the Reno Gazette Journal.
MWH Global, a subsidiary of Stantec that was acquired in 2016, is performing construction management services for the City of San Francisco's $939 million biosolids digester facility. The proposed project would replace systems at the largest wastewater treatment facility in the city, to more efficiently process 280,000 pounds per day of biosolids into 2 million standard cubic feet per day of biogas and 5 megawatts (MW) of renewable electricity. For more information, see Industrial Info's project report.
Stantec is part of two Power Industry projects under construction in the U.S.: Macquarie Infrastructure Company's (NYSE:MIC) (New York, New York) $240 million unit additions at its energy center in Bayonne, New Jersey, which will add 130 MW to the 512-MW facility through a pair of combustion turbines, and Western Minnesota Municipal Power Agency's (Ortonville, Minnesota) $224 million addition to the Red Rock Lake & Dam Hydro plant in Knoxville, Iowa, which will add a pair of turbines to boost capacity by 36.4 MW. For more information, see Industrial Info's reports on the Bayonne and Red Rock Lake projects.
Stantec reported first-quarter gross revenues of C$1.28 billion (US$1 billion), a 0.4% increase from first-quarter 2017, and net income of C$36.8 million (US$28.8 million), compared with a net loss of C$58 million (US$45.4 million) in the same period last year. This is Stantec's fourth consecutive quarter of revenue growth.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
