have a small position in ATS and have read the comment on their quarterly results. I am much more interested in what management had to say about going forward. Was there anything in the conference call (did they have one?) that we, as investors, should be hearing? I do want to increase to a full position but need a little more clarity on their vision and outlook.
thanks
Paul L
ATS did hold a call; the outlook sounded good. We have copied the main points management discussed below (some transcribing typos).
Moving to our outlook, order bookings included new orders across all markets. Particularly in life sciences and EV. Our backlog remained consistent versus last quarter at over $2 billion, despite the revenue ramp up and our EV projects and normal project execution in other areas. By market, the life sciences funnel remains strong. And backlog was $857 million, up 10% compared to Q2 last year. We secured key orders in several areas of our important sub markets, including medical devices. Our symphony platform supported key wins, as did our track record for quality and on time delivery. In radio pharma, Coma chair successfully secured several new orders. Remains positioned as a leader in its space. All of our life sciences businesses are focused on identifying opportunities. To provide expanded or integrated solutions to our customers. Transportation backlog was 736 million, up 20% year over year. Our OEM EV programs continue to be executed well. Remain on track from a cost and timing perspective. Recent labor disruptions in the automotive industry have not materially affected our performance. Or our ability to serve our customers. In the short term, consumer demand may influence the timing of OEM investments. However, our outlook has not changed. And our transportation funnel remains strong. Reflects diversified long-term opportunities with additional investments in production capacity. Will be required to reach stated EV production targets.