05:20 PM EDT, 05/08/2024 (MT Newswires) -- Stantec ( STN ) edged higher in after-hours New York trading after the company on Wednesday said its first-quarter adjusted profit rose 27% on revenue gains.

The engineering and design company said its adjusted profit, which excludes most one-time items, rose to C$103.0 million, or C$0.90 per share, from C$80.9 million, or C$0.73, in the year-prior quarter. The result beat the consensus analyst estimate for the measure of a C$0.86 per share profit.

Revenue rose 12% to C$1.37 billion from C$1.23 billion.

"We are off to a great start for the year. With robust market demand across all our regions, we expect 2024 will be another excellent year. Our first quarter performance reflects our focus on executing on our Strategic Plan, including our continued drive to grow through strategic M&A. To that end, we have already closed three acquisitions this year and added over 2,700 people to the Stantec ( STN ) team," chief executive Gord Johnston said in a release.

Stantec ( STN ) shares were last seen up US$0.53 to US$84.97 after hours, they closed up C$0.70 to C$116.60 on the Toronto Stock Exchange.