ATS Corporation reports developments in automation systems and services for multinational manufacturers. The company designs and builds custom automation, repeat automation, automation products, and value-added solutions including pre-automation planning and after-sales support for customers in life sciences, transportation, food and beverage, consumer products, electronics, and energy.
Recurring ATS news includes quarterly financial results, order bookings, service momentum, capital allocation actions such as normal course issuer bids, executive leadership changes, and participation in industrials and transportation investor conferences. Updates also describe the ATS Business Model, operating execution, working-capital discipline, and balance-sheet priorities tied to its global automation platform.
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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