Stantec reported earnings before the open and the stock is down about 10.5%.
I just added to my position. I would consider it to be A strong Buy but I continue to consider a good Buy for the long term.
I read most of the earnings report and the earnings per share were down 2.1%. This was due to a combination of some lowering of gross margin. Also due to a bit less professional time charged to projects and a bit more charged to admin and general. The resource sector suffered a decline. None of this should have been any surprise. Perhaps the decline is based on a recognition that there will be no speedy recovery.
Stantec remains a very strong and diversified company and I am confident it will continue its pattern of growth over the years. But it does have its cyclic components and so a decrease in earnings at times should not be a shock.