<p>斯坦泰克（TSE:STN）召开了第三季度财报电话会议。以下是会议的主要亮点。</p>
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<p>斯坦泰克最近的财报电话会议传达了强烈的乐观和韧性，得益于令人印象深刻的财务表现。公司报告了显著的收入和调整后 EBITDA 增长，尤其是在水务和能源部门。尽管联邦合同签署方面存在一些挑战，影响了订单可见性，但整体情绪仍然积极，对未来增长前景充满信心。</p>
<h2>强劲的收入增长</h2>
<p>斯坦泰克报告第三季度净收入显著增加，达到 17 亿美元。这比去年同期增长了近 12%，得益于有机增长和收购增长，均超过 5%。这一强劲的收入增长凸显了公司的成功扩张策略。</p>
<h2>创纪录的调整后 EBITDA 利润率</h2>
<p>公司实现了创纪录的调整后 EBITDA 利润率为 19%，比去年第三季度提高了 100 个基点。这个里程碑反映了斯坦泰克有效的成本管理和运营效率，为其强劲的财务表现做出了贡献。</p>
<h2>水务和能源部门的显著增长</h2>
<p>斯坦泰克的水务业务表现出近 13% 的显著有机增长，而能源与资源部门则实现了接近 10% 的增长。这些领域在特定地区也经历了两位数的增长，突显了它们在公司整体成功中的关键作用。</p>
<h2>美国市场的强劲表现</h2>
<p>在美国，斯坦泰克第三季度净收入增长超过 14%，有机增长为 4.6%，收购增长为 9%。在美国市场的强劲表现凸显了公司抓住机会并扩大在关键地区影响力的能力。</p>
<h2>令人印象深刻的调整后每股收益增长</h2>
<p>斯坦泰克报告的调整后每股收益较 2024 年第三季度增长了 17.7%。每股收益的增长反映了公司的稳健财务健康状况及其为股东创造价值的能力。</p>
<h2>合同订单积压增加</h2>
<p>公司的合同订单积压达到了 84 亿美元，同比增长近 15%。这一积压相当于大约 13 个月的工作量，为未来的收入来源提供了坚实基础。</p>
<h2>强劲的现金流和流动性</h2>
<p>截至目前的经营现金流较 2024 年激增 86%，得益于强劲的收入增长和运营表现。现金流的增加增强了斯坦泰克的财务灵活性和投资战略举措的能力。</p>
<h2>美国市场的订单积压增长平稳</h2>
<p>尽管整体表现积极，斯坦泰克在美国的订单积压年初至今增长平稳。这一停滞主要归因于采购周期放缓和项目签署延迟，为该市场未来的增长带来了挑战。</p>
<h2>联邦合同面临挑战</h2>
<p>由于政府停摆和程序变更，美国市场在联邦合同签署方面面临挑战，影响了订单可见性。这些挑战突显了在复杂的联邦合同环境中进行战略调整的必要性。</p>
<h2>前瞻性指导</h2>
<p>展望未来，斯坦泰克对其增长前景保持乐观。公司调整了全年净收入增长指导，并将调整后 EBITDA 利润率展望提高至 17.2-17.5%。随着基础设施、能源转型和关键任务设施等领域的持续需求，斯坦泰克预计将实现持续增长和盈利能力。</p>
<p>总之，斯坦泰克的财报电话会议描绘了一幅公司在强劲增长轨道上的图景，得益于关键部门和市场的强劲表现。尽管面临一些挑战，但整体情绪积极，明确聚焦于战略增长和运营卓越。投资者和利益相关者可以期待斯坦泰克在不断变化的市场环境中继续取得成功。</p>

斯坦泰克

<p>Stantec 的第三季度财报电话会议强调了强劲的增长和乐观情绪，尤其是在水务和能源领域，收入和调整后的 EBITDA 均实现了显著增长。净收入增长 12%，达到 17 亿美元，调整后的 EBITDA 利润率创下 19% 的历史新高。美国市场的收入增长超过 14%。面临的挑战包括美国的 backlog 增长持平以及联邦合同问题。尽管如此，Stantec 依然保持乐观，调整了收入增长指引，并提高了 EBITDA 利润率的展望</p>

<p>Stantec ((TSE:STN)) has held its Q3 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>斯坦泰克（TSE:STN）召开了第三季度财报电话会议。以下是会议的主要亮点。</p>
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</div><p>Stantec’s recent earnings call conveyed a strong sense of optimism and resilience, driven by impressive financial performance. The company reported significant revenue and adjusted EBITDA growth, particularly in its Water and Energy segments. Despite some challenges with federal contract signings affecting backlog visibility, the overall sentiment was positive, with a promising outlook for future growth.</p>
<div class="lb-trans"><p>斯坦泰克最近的财报电话会议传达了强烈的乐观和韧性，得益于令人印象深刻的财务表现。公司报告了显著的收入和调整后 EBITDA 增长，尤其是在水务和能源部门。尽管联邦合同签署方面存在一些挑战，影响了订单可见性，但整体情绪仍然积极，对未来增长前景充满信心。</p>
</div><h2>Strong Revenue Growth</h2>
<div class="lb-trans"><h2>强劲的收入增长</h2>
</div><p>Stantec reported a notable increase in net revenue, reaching $1.7 billion in Q3 2025. This marks an almost 12% rise compared to the same quarter last year, fueled by both organic and acquisition growth, each exceeding 5%. This robust revenue growth underscores the company’s successful expansion strategies.</p>
<div class="lb-trans"><p>斯坦泰克报告第三季度净收入显著增加，达到 17 亿美元。这比去年同期增长了近 12%，得益于有机增长和收购增长，均超过 5%。这一强劲的收入增长凸显了公司的成功扩张策略。</p>
</div><h2>Record-High Adjusted EBITDA Margin</h2>
<div class="lb-trans"><h2>创纪录的调整后 EBITDA 利润率</h2>
</div><p>The company achieved a record-high adjusted EBITDA margin of 19%, a 100 basis point improvement from Q3 of the previous year. This milestone reflects Stantec’s effective cost management and operational efficiency, contributing to its strong financial performance.</p>
<div class="lb-trans"><p>公司实现了创纪录的调整后 EBITDA 利润率为 19%，比去年第三季度提高了 100 个基点。这个里程碑反映了斯坦泰克有效的成本管理和运营效率，为其强劲的财务表现做出了贡献。</p>
</div><h2>Significant Growth in Water and Energy Segments</h2>
<div class="lb-trans"><h2>水务和能源部门的显著增长</h2>
</div><p>Stantec’s Water business demonstrated remarkable organic growth of nearly 13%, while the Energy &amp; Resources segment delivered close to 10% growth. These sectors also experienced double-digit growth in specific geographies, highlighting their pivotal role in the company’s overall success.</p>
<div class="lb-trans"><p>斯坦泰克的水务业务表现出近 13% 的显著有机增长，而能源与资源部门则实现了接近 10% 的增长。这些领域在特定地区也经历了两位数的增长，突显了它们在公司整体成功中的关键作用。</p>
</div><h2>Strong Performance in U.S. Market</h2>
<div class="lb-trans"><h2>美国市场的强劲表现</h2>
</div><p>In the U.S., Stantec’s net revenue increased by over 14% in Q3, with organic growth at 4.6% and acquisition growth at 9%. This strong performance in the U.S. market underscores the company’s ability to capitalize on opportunities and expand its presence in key regions.</p>
<div class="lb-trans"><p>在美国，斯坦泰克第三季度净收入增长超过 14%，有机增长为 4.6%，收购增长为 9%。在美国市场的强劲表现凸显了公司抓住机会并扩大在关键地区影响力的能力。</p>
</div><h2>Impressive Adjusted EPS Growth</h2>
<div class="lb-trans"><h2>令人印象深刻的调整后每股收益增长</h2>
</div><p>Stantec reported a 17.7% increase in adjusted EPS compared to Q3 2024. This growth in earnings per share reflects the company’s solid financial health and its ability to deliver value to shareholders.</p>
<div class="lb-trans"><p>斯坦泰克报告的调整后每股收益较 2024 年第三季度增长了 17.7%。每股收益的增长反映了公司的稳健财务健康状况及其为股东创造价值的能力。</p>
</div><h2>Increase in Contract Backlog</h2>
<div class="lb-trans"><h2>合同订单积压增加</h2>
</div><p>The company’s contract backlog reached $8.4 billion, representing an almost 15% increase year-over-year. This backlog equates to approximately 13 months of work, providing a strong foundation for future revenue streams.</p>
<div class="lb-trans"><p>公司的合同订单积压达到了 84 亿美元，同比增长近 15%。这一积压相当于大约 13 个月的工作量，为未来的收入来源提供了坚实基础。</p>
</div><h2>Strong Cash Flow and Liquidity</h2>
<div class="lb-trans"><h2>强劲的现金流和流动性</h2>
</div><p>Year-to-date operating cash flows surged by 86% compared to 2024, driven by strong revenue growth and operational performance. This increase in cash flow enhances Stantec’s financial flexibility and ability to invest in strategic initiatives.</p>
<div class="lb-trans"><p>截至目前的经营现金流较 2024 年激增 86%，得益于强劲的收入增长和运营表现。现金流的增加增强了斯坦泰克的财务灵活性和投资战略举措的能力。</p>
</div><h2>Flat Backlog Growth in U.S.</h2>
<div class="lb-trans"><h2>美国市场的订单积压增长平稳</h2>
</div><p>Despite the overall positive performance, Stantec experienced flat backlog growth in the U.S. year-to-date. This stagnation is largely attributed to slower procurement cycles and delays in project signings, presenting a challenge for future growth in this market.</p>
<div class="lb-trans"><p>尽管整体表现积极，斯坦泰克在美国的订单积压年初至今增长平稳。这一停滞主要归因于采购周期放缓和项目签署延迟，为该市场未来的增长带来了挑战。</p>
</div><h2>Challenges in Federal Contracting</h2>
<div class="lb-trans"><h2>联邦合同面临挑战</h2>
</div><p>The U.S. market faced challenges with federal contract signings due to government shutdowns and procedural changes, impacting backlog visibility. These challenges highlight the need for strategic adjustments to navigate the complex federal contracting landscape.</p>
<div class="lb-trans"><p>由于政府停摆和程序变更，美国市场在联邦合同签署方面面临挑战，影响了订单可见性。这些挑战突显了在复杂的联邦合同环境中进行战略调整的必要性。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>Looking ahead, Stantec remains optimistic about its growth prospects. The company adjusted its full-year net revenue growth guidance and increased its adjusted EBITDA margin outlook to 17.2-17.5%. With continued demand across sectors such as infrastructure, energy transition, and mission-critical facilities, Stantec anticipates sustained growth and profitability.</p>
<div class="lb-trans"><p>展望未来，斯坦泰克对其增长前景保持乐观。公司调整了全年净收入增长指导，并将调整后 EBITDA 利润率展望提高至 17.2-17.5%。随着基础设施、能源转型和关键任务设施等领域的持续需求，斯坦泰克预计将实现持续增长和盈利能力。</p>
</div><p>In conclusion, Stantec’s earnings call painted a picture of a company on a strong growth trajectory, driven by robust performance in key segments and markets. Despite some challenges, the overall sentiment was positive, with a clear focus on strategic growth and operational excellence. Investors and stakeholders can look forward to continued success as Stantec navigates the evolving market landscape.</p>
<div class="lb-trans"><p>总之，斯坦泰克的财报电话会议描绘了一幅公司在强劲增长轨道上的图景，得益于关键部门和市场的强劲表现。尽管面临一些挑战，但整体情绪积极，明确聚焦于战略增长和运营卓越。投资者和利益相关者可以期待斯坦泰克在不断变化的市场环境中继续取得成功。</p>
</div>

斯坦泰克的财报电话会议突显出强劲的增长和乐观的前景