The following is a summary of the ATS Corporation (ATS) Q4 2024 Earnings Call Transcript:

Financial Performance:

• ATS Corporation reported record revenues for FY '24, reaching $792 million in Q4, an 8% increase year-over-year.

• Full year earnings were $398 million, marking a 16% rise from the previous year.

• Q4 bookings amounted to $791 million, with a total of $2.9 billion for the full year.

• Repurchases involved $45 million for 1 million shares since late March.

• Gross margin saw a decrease due to low-margin programs and higher spend on people costs, expected to normalize in the next fiscal year.

• A drop in free cash flow in 2024 was due to higher working capital, mostly linked to EV projects.

Business Progress:

• ATS saw significant growth in the Life Sciences, Food & Beverage, and Energy sectors, with the Life Sciences backlog increasing by 14% from the previous year.

• The company completed four acquisitions in 2024, increasing its patent portfolio by almost 10%.

• The firm aims to focus on automated pharmacies, wearables, and GLP-1 drugs and expects revenues from autoinjector orders to grow substantially.

• ATS announced plans to acquire Paxiom, a provider of packaging machines in various industries.

• The company has a robust backlog of $1.8 billion supporting future revenue visibility.

• ATS is also initiating investment in autoinjectors enhancements, and the segment's bookings are growing at a rapid pace.

• The company's future growth is expected to be fueled by other vertical sectors such as Life Sciences, Food, Energy businesses, and Microsoft Cloud.

More details: ATS Corp IR

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