ATS Corporation. (NYSE:ATS) Q2 2025 Earnings Conference Call November 6, 2024 8:30 AM ET

Company Participants

David Galison - Head of Investor Relations
Andrew Hider - Chief Executive Officer
Ryan McLeod - Chief Financial Officer

Conference Call Participants

Sabahat Khan - RBC
Justin Keywood - Stifel
David Ocampo - Cormark Securities
Patrick Sullivan - TD Cowen
Maxim Sytchev - National Bank Financial
Michael Glen - Raymond James
Patrick Baumann - JPMorgan

Operator

Welcome to the ATS Corporation Second Quarter Conference Call and Webcast. This call is being recorded on November 06, 2024 at 8:30 a.m. Eastern time. Following the presentation, we will conduct a question-and-answer session.

I will 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 our 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 3 of the slide deck.

Now it's my pleasure to turn the call over to Andrew.

Andrew Hider

Thank you, David. Good morning, everyone, and thank you for joining us. Today, ATS reported second quarter results for fiscal 2025 which as expected were challenged due to lower revenues and transportation where we realigned our cost structure to protect margins and drive performance improvements.

We are pleased with execution across the rest of the business, notably in Life Sciences where we drove our highest ever quarterly bookings both organically and through our recent acquisitions. During the quarter, we successfully completed the acquisitions of both Paxiom and Heidolph. Both of these companies provide differentiated solutions across a range of industries that we expect will be a strong complement to our existing portfolios in food and beverage and life sciences.

Today I will update you on our business and markets and Ryan will provide his financial report. In addition, as we disclose today, we have been and continue to be engaged in ongoing discussions with one of our EV customers through respect to outstanding payments owed on large EV projects. Ryan will provide additional information in his remarks.