Review of ATS Corporation

MAY 30, 2024 - ATS Corporation (ATS) is an industry leader in planning, designing, building, commissioning and servicing automated manufacturing and assembly systems. Overall, ATS had quite a volatile fiscal 2024 year. The company’s shares fluctuated due to market concerns on the strength of its backlog. While ATS’ backlog and bookings did decline on a full-year basis, the fourth quarter pointed to potentially a positive turnaround in these metrics. We are maintaining our rating of a B+, however if the backlog trends negatively in future quarters, we will consider dropping our rating.