ATS Corp reported first-quarter fiscal 2027 adjusted revenues of $698 million, down 5.2% year-over-year, and initiated an 18-month Fixed-Cost Transformation Program expected to generate annualized savings of $20 million in the initial European phase, with a total opportunity of approximately $70 million. Adjusted earnings from operations fell 13.4% to $68.1 million, while adjusted gross margin improved 18 basis points to 30% of adjusted revenues. Order bookings declined 5.3% to $656 million, and the company guided for second-quarter revenues between $660 million and $700 million. CEO Doug Wright said modest organic revenue growth remains achievable but depends on a strong recovery in order rates in the second half, highlighting strength in radiopharmaceuticals where the backlog is now twice as material as GLP-1. The transformation program is expected to contribute about 250 basis points toward the long-term EBIT margin target of 15%, with full savings accruing over two to three years.
ATS CorporationRevenue and earnings declined, and the company initiated a cost-cutting program, indicating financial underperformance.