1415 ET - ATS' backlog is at a record high and should support revenue growth and some margin growth in fiscal 2026. TD Cowen's Cherilyn Radbourne says in a report that ATS has a backlog of C$2 billion, up 19% year over year. She notes that the backlog in the highly regulated life sciences market declined marginally quarter-on-quarter, but is up 38% year-over-year and remains by far the largest backlog contributor at 56%. ATS set new backlog records in consumer products, food & beverage, and nuclear, which reduced EVs to 10% from 12% in F3Q. Meanwhile, tariffs shouldn't be an issue either. ATS is monitoring tariff-related economic uncertainty, but hasn't seen material impact on bookings to-date, she adds. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
May 29, 2025 14:15 ET (18:15 GMT)
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