ATS Corporation (NYSE:ATS) Q1 2024 Earnings Conference Call August 9, 2023 8:30 AM ET
Company Participants
David Galison - Head, Investor Relations
Andrew Hider - Chief Executive Officer
Ryan McLeod - Chief Financial Officer
Conference Call Participants
Patrick Sullivan - TD Cowen
David Ocampo - Cormark Securities
Michael Doumet - Scotiabank
Justin Keywood - Stifel
Sabahat Khan - RBC Capital
Operator
Welcome to the ATS Corporation First Quarter Conference Call and Webcast. This call is being recorded on August 9, 2023, at 8:30 a.m. Eastern Time. [Operator Instructions]
I'll now turn the call over to David Galison, Head of Investor Relations at ATS.
David Galison
Thank you, operator, and good morning, everyone. On the call today are Andrew Hider, Chief Executive Officer of ATS; and Ryan McLeod, Chief Financial Officer. Please note that our remarks today are accompanied by a slide deck, which can be viewed via our webcast and available at atsautomation.com. We caution that the statements made on the webcast and conference call may contain forward-looking information and our cautionary statement regarding such information, including the material factors that could cause actual results to differ materially from the statements and the material factors or assumptions applied in making the statements are detailed on Slide 2 of the slide deck.
Now, it's my pleasure to turn the call over to Andrew.
Andrew Hider
Thank you, David. Good morning, ladies and gentlemen, and thank you for joining us. This has been an exciting and transformational few months for ATS, during which we successfully completed our U.S. IPO and New York Stock Exchange listing. This represents an important milestone and supports our strategic growth objectives while providing increased liquidity in our shares and additional flexibility for M&A. Today, we reported a strong start to fiscal '24, including record revenues, supported by solid bookings, backlog and adjusted earnings.
These results reflect our team's disciplined execution of the ATS business model. Our ABM has reached a level of maturity that allows us to refine our approach and add new tools to drive performance for our customers and shareholders.
First, I will update you on the business and Ryan will provide his financial report. Starting with our financial value drivers. Order bookings for the quarter were $690 million and included growth in Life Sciences and continued strength in EV and Food and Beverage. Q1 revenues were a record $754 million, up 23% from Q1 last year, including strong organic growth. Adjusted earnings from operations in Q1 were $102 million, up 29% versus Q1 last year.