ATS Corp.'s stock plummeted 10.83% in pre-market trading on Thursday after the automation solutions provider reported fourth-quarter earnings that fell short of analyst expectations and issued a revenue outlook for the current quarter below estimates.
The company posted adjusted earnings of 36 Canadian cents per share for its fiscal fourth quarter, missing the FactSet consensus estimate of 44 Canadian cents. While revenue of CA$747.1 million beat expectations, adjusted earnings per share declined from CA$0.41 a year earlier.
Investors reacted negatively to the company's forecast for the first quarter of fiscal 2027, with management expecting revenue in the range of CA$700 million to CA$740 million, below the CA$758.6 million anticipated by analysts. Additionally, order bookings decreased 18.4% year-over-year to $704 million, and the company is undergoing restructuring activities to reposition its transportation-related businesses.
Comments