Despite the Hold rating, they are pretty big fans of the company. GLTA
HOLD
ATS Automation(ATS-T)
28/04/2023
Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research.
ATS is an industry-leading automation solutions provider to many of the world's most successful companies. It uses its extensive knowledge base and global capabilities in custom automation, repeat automation, automation products, and value-added services to address the sophisticated manufacturing automation systems and service needs of multinational customers in markets such as life sciences, food & beverage, transportation, consumer products, and energy. Founded in 1978, ATS employs over 6,000 people at more than 50 manufacturing facilities and over 75 offices in North America, Europe, Southeast Asia, and China.Results for the 2nd quarter ended October 2, 2022, were not spectacular. While revenues at $588.9 million were up 12.8 % over the comparable prior year period, net earnings at $29.5 million were basically flat due largely to higher finance costs ($6.2 million, to finance the acquisition of SP) and income taxes ($3.1 million). Adjusted EBITDA at $88.8 million was up 6.6%. Cash at the end of the quarter amounted to $95.2 million after utilizing $44.7 million during the period primarily due to changes in non-cash working capital. The debt-equity ratio is 1.26. With a large backlog ($1.8 billion), established operations and markets as well as experienced management ATS should find opportunities ahead.
Misc Industrial Products
$58.080