ATS reports $29.6M Q4 profit, revenue up more than 20% from year ago

CAMBRIDGE, Ont. – ATS Corp. reported a fourth-quarter profit of $29.6 million, down from $39.9 million a year ago, as its revenue rose more than 20 per cent.

The maker of industrial automation systems says the profit amounted to 32 cents per share for the quarter ended March 31, down from 44 cents per share a year ago.

Revenue totalled $730.8 million, up from $603.2 million in the same quarter last year.

The company’s order backlog stood at $2.15 billion, up from $1.44 billion a year ago.

On an adjusted basis, ATS says it earned 73 cents per share, up from an adjusted profit of 60 cents per share a year earlier.

Analysts on average had expected an adjusted profit of 54 cents per share and $664.4 million in revenue for the quarter, according to estimates compiled by financial markets data firm Refinitiv.

This report by The Canadian Press was first published May 18, 2023.

Companies in this story: (TSX:ATS)