Stantec Inc. (NYSE:STN) Q4 2022 Results Conference Call February 23, 2023 9:00 AM ET
Company Participants
Gord Johnston - President and Chief Executive Officer
Theresa Jang - Executive Vice President and Chief Financial Officer
Conference Call Participants
Jacob Bout - CIBC
Benoit Poirier - Desjardins
Yuri Lynk - Canaccord
Devin Dodge - BMO Capital Markets
Michael Tupholme - TD Securities
Frederic Bastien - Raymond James
Sabahat Khan - RBC Capital Markets
Maxim Sytchev - NBF
Operator
Welcome to Stantec's Fourth Quarter and Year End 2022 Earnings Results Webcast and Conference Call. Leading the call today are Gord Johnston, President and Chief Executive Officer; and Theresa Jang, Executive Vice President and Chief Financial Officer. Stantec invites those dialing in to view the slide presentation which is available in the Investors section at stantec.com.
Today's call is also webcast. Please be advised that, if you have dialed in while also viewing the webcast you should mute your computer as there is a delay between the call and the webcast. All information provided during this conference call is subject to the forward-looking statement qualification set out on Slide 2, detailed in Stantec's management's discussion and analysis and incorporated in full for the purposes of today's call. Unless otherwise noted, dollar amounts discussed in today's call are expressed in Canadian dollars and are generally rounded.
With that, I am pleased to turn the call over to Mr. Gord Johnston.
Gord Johnston
Good morning, and thank you for joining us today. We're very pleased to report record Q4 and full year 2022 adjusted earnings per share of $0.82 and $3.13 respectively. Our results reflect a solid execution of our multiyear strategy, and clearly demonstrate the resilience, growth, and demand that we're seeing for our business. The outperformance of our guidance for the year was attributable to a very solid fourth quarter, where we achieved double-digit organic net revenue growth above our expectations.
For the full year, we generated an all-time high of $4.5 billion in net revenue. All of our regions and business units delivered organic net revenue growth in the high single to low double-digit range, demonstrating the strength of our diversified business model. This also shows how well positioned we are to address the trends of increasing investments towards aging infrastructure, re-shoring of domestic production, and climate change.
Particularly notable, Environmental Services net revenue grew by almost 50%, primarily through acquisition, but also from nearly 10% organic growth. And importantly, the top line increase of 23% was exceeded by bottom line growth of 29%.