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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 and NYSE: ATS) has announced its participation in the upcoming J.P. Morgan Industrials Conference in New York City on March 11, 2025. CEO Andrew Hider and CFO Ryan McLeod will represent the company, hosting a fireside chat at 09:45 a.m. (ET).
The event will be accessible via webcast on the company's Investor Relations website, with a replay available for 30 days following the presentation. Additionally, management will conduct institutional investor meetings during the conference, which can be arranged through J.P. Morgan representatives or by contacting ATS directly.
ATS reported its Q3 fiscal 2025 results with revenues of $652.0 million, down 13.3% from $752.0 million year-over-year. Net income decreased significantly to $6.5 million (7 cents per share) from $47.2 million (48 cents per share) in the previous year.
Key highlights include Order Bookings of $883 million, up 32.2% year-over-year, and Order Backlog of $2,060 million, an 8.0% increase. The company's performance was impacted by reduced demand in the North American EV market, though partially offset by growth in life sciences and food & beverage sectors.
Recent acquisitions include Paxiom Group for $146.4 million and Heidolph Instruments for $45.1 million. The company expects Q4 fiscal 2025 revenues between $650-710 million, with continued impact from lower transportation revenues on margins until reorganization actions are fully implemented.
ATS (TSX and NYSE: ATS) has announced its participation in the Raymond James 46th Annual Institutional Investors Conference in Orlando, FL on March 5, 2025. CEO Andrew Hider and CFO Ryan McLeod will represent the company at the event.
The company will conduct a fireside chat at 9:50 a.m. (ET), which will be accessible via webcast on ATS's Investor Relations website. The webcast recording will remain available for 360 days following the event. Additionally, management will be available for institutional investor meetings, which can be arranged through Raymond James representatives or by contacting the provided email.
ATS (TSX: ATS) (NYSE: ATS) has announced it will release its third quarter financial results for the period ended December 29, 2024, before markets open on Wednesday, February 5, 2025. The company will host a conference call and webcast at 8:30 a.m. Eastern on the same day, featuring management's quarterly remarks and an analyst Q&A session.
Investors can access the webcast at the provided link or join the conference call by dialing (888) 660-6652 with reference number 8782510. A replay will be available on the ATS website, and a telephone recording will be accessible until February 12, 2025, by dialing (800) 770-2030 with passcode 8782510.
ATS (TSX and NYSE: ATS) has announced its participation in the upcoming Barclays Industrials Select Conference in Miami, FL, scheduled for February 20, 2025. The company will be represented by Andrew Hider, Chief Executive Officer, and Ryan McLeod, Chief Financial Officer.
During the conference, the management team will be available for institutional investor meetings. Interested parties can arrange meetings through their Barclays representative or by contacting the provided email address.
ATS (TSX and NYSE: ATS) has announced its participation in the upcoming Citi Global Industrial Tech and Mobility Conference in Miami, FL on February 19, 2025. Chief Executive Officer Andrew Hider and Chief Financial Officer Ryan McLeod will represent the company.
The executives will participate in a fireside chat scheduled for 3:30 p.m. (ET). The event will be accessible via webcast on the company's Investor Relations website, with the recording remaining available for 365 days afterward. Additionally, management will be conducting institutional investor meetings during the conference, which can be arranged through Citi representatives or by contacting dgalison@atsautomation.com.
ATS has successfully completed its previously announced private placement offering of C$200 million in senior unsecured notes with a 6.50% interest rate, due August 21, 2032. These notes are fungible with the company's existing $400 million senior unsecured notes issued on August 21, 2024, sharing identical terms. The company plans to use the net proceeds to pay outstanding amounts on its revolving credit line under its senior syndicated credit facility.
The offering was led by National Bank Financial Inc. and RBC Dominion Securities Inc., along with several other financial institutions. The notes were offered privately in Canada and to qualified institutional buyers in the United States under Rule 144A.
ATS (TSX and NYSE: ATS) has announced an upsized reopening offering of $200 million aggregate principal amount of 6.50% senior unsecured notes due 2032, increased from the initial target of $150 million. The notes will be issued at 100.625% of face value with a yield to call of 6.341%. These notes will be fungible with the previously issued $400 million senior unsecured notes from August 21, 2024.
The company plans to use the net proceeds to pay outstanding amounts under its revolving credit line. The offering is expected to close around December 19, 2024, subject to customary conditions. The notes are being offered privately in Canada and to qualified institutional buyers in the US under Rule 144A.
ATS (TSX: ATS) (NYSE: ATS) has published its FY2024 Sustainability Report, titled 'Future in Focus,' marking the company's fifth annual sustainability publication. The report, covering the period ending March 31, 2024, details the company's ongoing sustainability initiatives and progress. The comprehensive document is now accessible on the ATS website, offering stakeholders insights into the company's environmental, social, and governance practices.
ATS (TSX and NYSE: ATS) has announced a new Normal Course Issuer Bid (NCIB) approved by the Toronto Stock Exchange. The company can purchase and cancel up to 8,259,180 common shares, representing 10% of its public float of 82,591,806 shares. The NCIB will run from December 16, 2024, to December 15, 2025.
Daily purchases will be to 65,819 shares, except where block purchase exemptions apply. The company views this share buyback as part of its capital structure strategy and complementary to acquisition growth plans. Under its previous 2023 NCIB, ATS repurchased and cancelled 1,021,187 shares at an average price of $44.07 per share.
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