AT&S

Welcome to the ATS Corporation second quarter conference call and webcast. This call is being recorded on November 4th, 2026 at 8.30 a.m. Eastern Time. Following the presentation, we will conduct a question and answer session. I'd now like to turn the call over to David Ocampo, Head of Investor Relations at ATS.

Thank you, Operator, and good morning, everyone. On the call today are Doug Wright, Chief Executive Officer, and Anne Cybulsk, Interim Chief Financial Officer. Please note that our remarks today are accompanied by a slide deck, which can be viewed via our webcast and available at atsautomation.com. We caution that the statements made on the webcast and conference call may contain forward-looking information and our cautionary statement regarding such information, including the material factors that could cause actual results to differ materially from the statements and the material factors or assumptions applied in making the statements are detailed in slide three of the slide deck. With that, it's my pleasure to turn the call over to Doug. Doug, over to you.

Thank you, David, and good morning, everyone. Today we reported our second quarter results for fiscal 2027. Before I walk through my typical updates, I'll start by noting that the strength of our end markets is visible, with strong growth in order bookings this quarter, especially in life sciences. We continue our focus on aftermarket and improvement in our ATS business model, including refining our commercial processes. We have a clear view on the portfolio, Our strategy and on driving execution across our businesses, and we're making progress on our fixed cost transformation program, which is already delivering results to set us up for the future. At the same time, we are managing temporary delays in order bookings in some of our non life sciences businesses. Specifically in relation to packaging automation equipment, what would otherwise likely have been a modest timing shift in orders has been exacerbated by Section 338 tariffs. The Section 338 tariffs that came into effect in late August after the breakdown of trade talks between Canada and the United States affected our packaging equipment and delayed customer decision making in response to the tariffs. At the end of October, the U.S. announced modifications to Section 338 tariffs, eliminating the impact on nearly all of the covered products. We welcome that and expect it to benefit ATS and our affected customers over time as our customers digest the various changes and advance their capital expenditure plans. Now moving to results. Order bookings were $827 million in the quarter. In life sciences, we ended the quarter with our highest order backlog in ATS history. We continue to see a healthy pipeline of activity across our end markets and remain well positioned to participate in their long-term growth, particularly in life sciences and nuclear. Turning to revenue, Q2 revenues were $666 million within our expectations, and our aftermarket revenues grew as we remained focused on this longer-term margin accretion driver. Adjusted earnings from operations were $57 million, with an adjusted margin of 8.6%, compared to 10.9% last year, reflecting lower volumes and a mix that included fewer higher margin programs. Turning to end markets, we ended our second quarter with approximately $2 billion of order backlog. Within life sciences, backlog was $1.2 billion, which is our highest backlog on record in this end market and reflects continued diversification of our opportunities. As an example, our radioformer backlog continues to grow and is a highly attractive opportunity supported by increasing adoption of therapeutic applications and ongoing investment in isotope production. Our capabilities in containment, automation, and lifecycle support position us to participate in multiple phases of that build-out. Beyond radiopharma, the funnel includes a range of medical device solutions, including diabetes and vision care, along with automated pharmacy and other evolving applications, including automated sterilization and liquid pharma visual inspection. In food and beverage, backlog was $223 million and bookings were up year over year for the third consecutive quarter. However, below our expectations for the year based on the cyclicality in the tomato business. Our funnel is supported by customers upgrading existing plants to improve productivity and reduce operating costs. As an example, a large share of the global KEGG line installed base is approaching the end of life, which is creating a replacement pipeline for us. In energy, backlog ended the quarter at $236 million. Our funnel remains strong, supported by investment in energy security, infrastructure modernization, and new power generation for data centers. Within nuclear, can-do refurbishment and life extension programs continue to support capital project opportunities today and lifecycle service opportunities over the long term. The new build market is also advancing. In September, the U.S. regulator issued its first construction permit for a commercial small modular reactor in Tennessee. In Ontario, construction of the Darlington SMR is advancing and two large-scale new builds are progressing through pre-development and impact assessment. As this market continues to advance from licensing into construction, ATS remains well positioned given early engagement. During the quarter, we booked several additional orders with an existing SMR customer, a design order with a new customer, and we continue to build on our capabilities in this area. In industrial and consumer, backlog was 312 million and the funnel activity is stable. We continue to reposition the portfolio toward opportunities with better returns, and within our industrial business, we are broadening our pipeline into mission-critical production environments. On capital allocation, in the quarter, we repurchased approximately 2.2 million shares for $61 million under our normal course issuer bid. The purchase of our own shares is not only based on our confidence in the long-term value of the business, but in addition, measured against our capital allocation framework, it was a compelling use of capital. Share repurchases are one part of our capital allocation program, which includes tools to evaluate organic investments, acquisitions, and portfolio optimization opportunities. To execute on that program, we've strengthened the team. We brought in two senior leaders in corporate development and transformation. Both leaders reflect our commitment to discipline capital allocation and to delivering the fixed cost transformation program. We pursue opportunities only where they meet our criteria for shareholder value creation. Our acquisition funnel remains active across a number of our end markets, and we remain focused on opportunities that are strategically aligned and meet our return requirements. In summary, Q2 results delivered strong order bookings and our highest life science backlog on record, which is diversified across several key growth areas. We believe that the delays due to Section 338 tariffs and other customer delays are temporary in nature, and we are actively managing the impact. Our conviction in our end markets and the growth within them is unchanged. That conviction is supported by a healthy trailing 12-month book-to-bill ratio, strong radiopharma growth as therapies move toward commercialization, nuclear demand accelerating on the back of energy security and data center demand, and a clear aftermarket opportunity. We continue to advance our fixed cost transformation program both through a reduction of our footprint and related adjustments to our workforce. Although these adjustments are not easy, We have not wavered from our desire to build a stronger company. With my evaluation of our businesses complete and with our team's development of clear return driven operating models, deep strategic understanding in connection to our end markets and customers, I remain confident in the opportunities we have in front of us as a global automation player. Now I will turn the call over to Anne for her financial report. Anne, over to you.