Stantec Bags Architect-Engineer Services Contract From USAID

Stantec Inc. STN has been selected by the United States Agency for International Development (USAID) to provide global architect-engineer (A/E) services through a five-year, $800 million multiple-award task order contract.
Services under the contract include planning, design, rehabilitation, and construction supervision to develop schools, health facilities, energy, water, sanitation, agriculture, and transportation-related infrastructure.
Stantec's International Development team, based in Washington D.C., will oversee the contract and management of the subsequent task orders.
Stantec expects revenue and backlog from this contract to be recognized over the five-year term.
Price Action: STN shares are trading lower by 0.28% at $49.09 on the last check Tuesday.