Stantec Reports Record $6.5 Billion Income in 2025, Eyes Growth

Edmonton-based engineering and consulting firm Stantec Inc. reported a record income of $6.5 billion for the fiscal year ending December 31, 2025. This figure represents an increase of nearly 11 percent from the previous year, underscoring the company’s commitment to continued growth, particularly in the fields of defence contracting and data centre development.

The significant rise in revenue is largely attributed to Stantec’s robust portfolio of projects in Canada, as noted by Gord Johnston, the company’s chief executive. Public investments have played a crucial role in driving this success, with several key initiatives focused on infrastructure development in the Arctic region. For instance, at the Grays Bay road and port project located in Nunavut, Stantec collaborates with Inuit-owned partners to construct a more than 200-kilometre all-season road, enhancing access to the Canadian Arctic. Johnston highlighted the strategic importance of this deep-sea port, stating it would accommodate both cargo vessels and ships of the Canadian Navy once completed.

Strategic Defence Contracts Fuel Growth

Stantec’s expertise in operating under extreme climate conditions has positioned it favorably for various projects. The company is also involved in initiatives supporting the North American Aerospace Defense Command and has secured contracts with the Canadian Department of National Defence to upgrade facilities for the Canadian Armed Forces. Johnston confirmed that the company recently obtained a significant design-build contract for the construction of Canada’s Multi-Mission Aircraft hangar in Nova Scotia.

The momentum doesn’t stop at Canadian borders. Johnston noted an increasing flow of public investment activity in the United States as well. In January 2026, Stantec announced its partnership with AECOM Technology Corp. to undertake a US$144 million contract aimed at modernizing a U.S. Navy shipyard in Maine. This project is indicative of Stantec’s expanding influence in the U.S. market, which complements its ongoing Canadian operations.

Expanding into AI and Data Centres

In addition to its work in defence, Stantec is venturing into the burgeoning field of artificial intelligence data centres. While specific partnerships were not disclosed, Johnston emphasized that Stantec has been engaged by an AI firm to design the initial 300 to 350 megawatt phase of a large data centre campus, with future scaling potential up to one gigawatt. This move into AI-driven infrastructure reflects the company’s adaptability in a rapidly evolving technological landscape.

Last spring, Stantec also announced its selection by Calgary-based Beacon AI Centers to provide various technical services for the construction of six data centre campuses across five municipalities in Alberta. The company’s diverse portfolio has resulted in a notable increase in income, with a total rise exceeding 32 percent in 2025, contributing an additional $118 million to Stantec’s bottom line.

Looking ahead, Stantec maintains an optimistic outlook for 2026, forecasting revenue growth between 8.5 percent and 11.5 percent. This projected growth indicates the firm’s strategic positioning and readiness to capitalize on emerging opportunities in both domestic and international markets.