ATS Reports Third Quarter Fiscal 2026 Results

Core Insights - ATS Corporation reported strong financial results for the third quarter of fiscal 2026, with revenues increasing by 16.7% year-over-year to $760.7 million, driven by organic revenue growth across various markets [1][2][3] - The company experienced a net income of $30.0 million, significantly up from $6.5 million in the same quarter last year, reflecting improved operational performance [2][5] - Adjusted basic earnings per share rose to 48 cents from 32 cents a year ago, indicating enhanced profitability [1][2] Financial Performance - Revenues for the third quarter were $760.7 million, a 16.7% increase from $652.0 million in the previous year [1][4] - Year-to-date revenues reached $2,225.8 million, up 13.6% from $1,959.0 million [1][4] - Net income for the third quarter was $30.0 million, compared to $6.5 million in the prior year, marking a 361.5% increase [2][5] - Adjusted EBITDA for the third quarter was $105.2 million, a 20.2% increase from $87.5 million a year ago [1][4] Order Bookings and Backlog - Order Backlog as of December 28, 2025, was $2,053 million, slightly down from $2,060 million a year ago [1][2] - Order Bookings for the third quarter were $821 million, a decrease of 7.0% year-over-year, primarily due to a decline in organic Order Bookings [2][3] - Year-to-date Order Bookings totaled $2,248 million, down from $2,442 million in the previous year [1][2] Market Performance - Revenue growth was observed across various sectors, with life sciences increasing by 3.9%, consumer products by 57.4%, and energy by 161.6% year-over-year [2][4] - The transportation sector saw a decline in revenues by 22.1% due to lower Order Backlog [2][3] - The company noted strong demand in the food & beverage sector, particularly in automated solutions [3][4] Management and Strategic Outlook - Doug Wright was appointed as CEO, with a focus on enhancing execution discipline and capital allocation [1][2] - The company is optimistic about its diversified portfolio and leadership team, aiming to navigate current market conditions effectively [1][3] - Management anticipates revenues in the fourth quarter of fiscal 2026 to be between $710 million and $750 million [3][4]