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Stantec posts 1Q profit, results miss Wall Street estimates

EDMONTON – EDMONTON, Alberta (AP) _ Stantec Inc. (STN) on Thursday reported first-quarter profit of $22.3 million.

On a per-share basis, the Edmonton, Alberta-based company said it had net income of 23 cents. Earnings, adjusted for non-recurring costs, were 29 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The engineering firm posted revenue of $458.2 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $484.8 million.

Stantec shares have increased 3.5 per cent since the beginning of the year. The stock has fallen slightly more than 6 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STN at http://www.zacks.com/ap/STN

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Keywords: Stantec, Earnings Report