Edmonton-based sustainable design and engineering firm Stantec raked in $5.9 billion last year, which was a new record for the company and up more than 15 per cent from last year.

Stantec released its quarterly earnings for the final quarter of 2024 on Tuesday, summing up what was a record-breaking year for the Edmonton-started and headquartered engineering firm.

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Stantec continues to see growth in the many markets it operates, which include not just Canada and the United States, but also more than 400 offices located around the world, staffed by more than 32,000 workers.

With last year’s performance, Stantec president and CEO Gord Johnston said the company is on its way to hitting its future targets.

“Our strong 2024 results put us well on track to deliver on our strategic plan objectives,” said Johnston in a news release.

Stantec’s net revenue is up 15.8 per cent from 2023, which amounted to a $800.4 million increase in revenue from last year. In the final quarter of 2024 alone, the company brought in more than $236 million, which was a 19 per cent bump from 2023, which the company said in its report was comprised of more than nine per cent organic growth (growth achieved by a company’s internal operations) and a 7.6 per cent growth due to acquisitions.

In Canada, Stantec hauled in $1.4 billion in net revenue, while its work in the United States accounted for $3 billion, topped-up by nearly $1.4 billion in net revenue from its global operations. Stantec also noted in its release that it achieved an all-time record backlog of $7.8 billion.

Backlog in this sense refers to the amount of revenue the company is expecting to be paid for contracts, services, or operations that has not yet been billed.

In the release, Johnston attributed last year’s showing to Stantec’s quality of work and a growing demand for its services.

“We continue to thrive in a resilient industry influenced by macro factors including water security, aging infrastructure, climate change, future technologies and an expansion in advanced manufacturing,” said Johnston.

“By maintaining our strong focus on project execution and addressing our clients’ most pressing challenges, we anticipate another year of exceptional performance for Stantec in 2025, driven by continued margin expansion and earnings growth.”

Following the report of its performance last year, Stantec also charted its course for the year ahead, identifying areas of expected growth for the year to come.

The company is expecting a net revenue growth of seven to 10 per cent over the year, which it intends to accomplish in part due to mid-to-high single digit organic growth. The group also highlighted high levels of activity in the water business as a contributor to its organic growth in the global market over the next year.

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While the group eyes growth in 2025, Stantec is already looking even further into the future having announced recently that its services were selected for a semiconductor project in northern Italy set to begin in 2028. Stantec is set to provide architecture for the administration areas and infrastructure design including overall permitting services.