ATS Corporation Launches Cost Program Amid First-Quarter Loss

ATS Corporation reported a net loss of $0.3 million for its first quarter of fiscal 2027, a significant decline from the $24.3 million net income recorded in the prior year. Revenues for the period ended June 28, 2026, fell 5.8% to $693.7 million.

Chief Executive Officer Doug Wright attributed the decline to timing variability in customer awards and reduced demand in life sciences related to GLP-1. Despite these losses, Wright noted growth in energy revenues and services, stating that the company continues to see a healthy and diversified funnel across its core end markets.

To recover profitability and achieve a long-term adjusted earnings from operations margin target of 15%, the company launched an 18-month Fixed Cost Transformation Program. The first phase of this initiative involves consolidating facilities in Europe to better align capacity with customer needs, which is expected to reduce annual costs by approximately $20 million.