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ATS Corporation (TSX: ATS) (NYSE: ATS) is a prominent Canada-based company specializing in providing advanced automation systems. Established in 1978, ATS designs and builds customized automated manufacturing and testing systems, offering a comprehensive suite of pre- and post-automation services. The company’s product line includes sophisticated conveyor systems, automated electrified monorails, tray handlers, laser systems, and various hardware and software solutions.
ATS serves a diverse clientele spanning several key industries such as life sciences, food and beverage, transportation, consumer products, electronics, and energy. Their extensive reach and expertise have secured them a significant presence in North American and European markets, driving the majority of their sales.
In recent developments, ATS reported record revenues for the first quarter of fiscal 2024. The company successfully completed its U.S. initial public offering (IPO) and began trading on the New York Stock Exchange, generating gross proceeds of USD 282.9 million. This influx of capital has enhanced ATS’s financial flexibility, reduced its debt ratio, and positioned the company for strategic growth opportunities, including potential acquisitions and increased working capital.
ATS's strategic growth is further highlighted by its latest acquisition of Avidity Science, LLC, a leader in automated water purification solutions for biomedical and life science applications. This acquisition aligns with ATS’s mission to support the entire life sciences process, from research to commercial production, thereby expanding their market footprint and enhancing their value proposition.
Financially, ATS has shown robust performance with significant year-over-year organic revenue growth. The company’s focus on operational excellence through the ATS Business Model (ABM) ensures continuous improvement and long-term sustainable shareholder value. ATS’s order backlog and order bookings reflect a strong pipeline across strategic global markets and regulated industries.
ATS holds over 6,500 employees at more than 60 manufacturing facilities and over 80 offices worldwide. The company’s emphasis on ESG initiatives positions it well in markets focusing on sustainability standards and goals. With a disciplined approach to acquisitions and a focus on operational efficiencies, ATS aims to maintain its trajectory of growth and profitability.
ATS (TSX: ATS) (NYSE: ATS) has successfully completed its acquisition of Paxiom Group, a provider of packaging machines for the food and beverage, cannabis, and pharmaceutical industries. The acquisition, initially announced on May 15, 2024, strengthens ATS's position in the packaging sector. Paxiom specializes in primary, secondary, and end-of-line packaging solutions, which complements ATS's existing automation capabilities. This strategic move is expected to enhance ATS's offerings and expand its market reach in key industries.
ATS (TSX: ATS) (NYSE: ATS) has announced key dates for its first quarter financial results and Annual Meeting of Shareholders. The company will report its Q1 results for the period ended June 30, 2024, on Thursday, August 8, 2024, before markets open. A conference call and webcast will follow at 8:30 a.m. eastern, featuring management's remarks and a Q&A session with analysts.
The Annual Meeting of Shareholders is scheduled for Friday, August 9, 2024, at 10:00 a.m. eastern. This will be a virtual-only meeting accessible via a provided link. Shareholders can find the Management Information Circular and other meeting-related materials on the company's website, SEDAR+, and the SEC's EDGAR website.
ATS (TSX: ATS) (NYSE: ATS) announced that CEO Andrew Hider and CFO Ryan McLeod will participate in the Stifel 2024 Cross Sector Insight Conference in Boston, MA on June 4, 2024. ATS is scheduled for a fireside chat at 9:10 a.m. (ET), which will be webcast live with a replay available for 90 days on their Investor Relations site. Additionally, management will host institutional investor meetings during the conference.
ATS (TSX: ATS) will participate in Deutsche Bank's 15th Annual Global Industrials, Materials & Building Products Conference in New York on June 5, 2024. CFO Ryan McLeod will represent ATS, hosting a fireside chat at 9:20 a.m. ET. The event will be webcast live on ATS's Investor Relations website, with a replay accessible for 180 days. Additionally, ATS management will conduct institutional investor meetings during the conference, which can be scheduled through Deutsche Bank or ATS contacts.
ATS reported its financial results for Q4 and fiscal 2024. Key figures include an 8.3% increase in Q4 revenues to $791.5 million, a 63.9% rise in net income to $48.5 million, and a 7.3% increase in order bookings to $791 million. Fiscal 2024 highlights show a 17.7% rise in revenues to $3,032.9 million and a 52.1% increase in net income to $194.2 million. However, adjusted EBITDA for the quarter decreased by 2.0% to $115.8 million. The company also announced acquisitions, including Paxiom Group and IT.ACA. Despite setbacks in the EV market, ATS expects growth in life sciences and other markets, supported by a strong order backlog of $1,793 million.
ATS (TSX: ATS, NYSE: ATS) has announced a definitive agreement to acquire Paxiom Group, a provider of packaging machines for the food and beverage, cannabis, and pharmaceutical industries. Paxiom, headquartered in Montreal, Quebec, includes companies like WeighPack Systems, EndFlex, Valtara, and Kang-Di, with operations in Canada, the US, Italy, and China. The acquisition will enhance ATS' product offerings and expand its footprint in regulated markets. For the year ending December 31, 2023, Paxiom generated $67 million in revenue with an adjusted EBITDA margin above 19%. The transaction, whose financial terms were not disclosed, is expected to close in Q3 2024 and will be funded through cash and ATS' revolving credit facility.
ATS (TSX: ATS) (NYSE: ATS) announced that Ryan McLeod, Chief Financial Officer, will participate in TD Cowen’s 2nd Annual Sustainability Conference on May 22, 2024. ATS will host a fireside chat and institutional investor meetings at the event. A webcast link will be available for the live event and a replay for 90 days.
ATS (TSX: ATS) (NYSE: ATS) will host its fourth-quarter earnings call on May 16, 2024, where it will report financial results for the quarter ended March 31, 2024. The call will include management's remarks, a Q&A session with analysts, and can be accessed via webcast or telephone.
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