ATS Corporation (NYSE:ATS) Q3 2024 Earnings Call Transcript

Sabahat Khan: Great. And then just one last one, I guess on the EV side, given some of the discussions you’re having within your larger customer here. Are some of the other people – I guess OEMs that were in the pipeline that were doing some test runs or trying out your capabilities, I guess, how the discussions progressing there? Any update on the timelines that those other potential customers are thinking about?

Andrew Hider: No. I would say that the mid to long-term narrative hasn’t changed dramatically. What I can tell you is what we do view is that, the net result – the customers are going to be a bit measured in their pace of investment and really looking at this over long periods of time. That said, when we talk about CapEx spend and focus for CapEx spend, EV is a key priority. And so while the near-term we do view as impacted, and we talked a bit about that. So I don’t need to dwell further. Our customers focused around technology, innovation, profitability being a key focus, and then matching capacity. These are areas where ATS does well and supports in a strong way as far as our capability through digital twin, through making modifications, through really testing and to give you context of digital twin, what it allows us to do.

And there’s an old adage of right, measure twice cut once. Well, with digital twin, we can measure 50x, 100x, 1000x times cut once, and it allows us to do really real time view of what these changes will impact? How it will align around their production launch, and then support their ability to modify change and really minimize impact on their launch. And so our view is, we continue to offer high value in this space. And while it’s certainly going to have some dynamics over the next short-term, you know, quarter two, we’re going to be very focused on offering customers high value through that cycle.

Sabahat Khan: Great. Thanks very much for the color.

Operator: Mr. Hider, there are no other questions. Back to you for closing remarks.

Andrew Hider: Thank you, operator. We look forward to continue to execute on our goal of creating value for our customers and shareholders. Thanks for joining us today. I look forward to speaking to you on our year end call in May. Stay safe and goodbye for now.

Operator: This concludes today’s conference. You may now disconnect.