Stantec’s Consulting Services continues to perform well in third quarter
Construction Services divested and new board member announced
November 8, 2018
Our third quarter results for Consulting Services demonstrate the heavy lifting we’ve done so far this year is paying off. We continue to grow organically, pick up the pace of our strategic acquisitions, and increase operational efficiency.
Our good performance in Consulting Services was offset in the third quarter by negative revenue and cost adjustments related to projects in Construction Services, which we have divested. Net of transaction fees and income tax expense, the sale will generate positive cash flow, thereby strengthening our balance sheet and providing capital to finance future growth.
With the divestiture of our Construction Services business, we look forward to focusing wholly on continuing to grow our Consulting Services business.
President & CEO