Record Life Sciences Bookings
Life Sciences segment recorded the highest quarterly bookings in company history, driven by organic growth and contributions from acquisitions, primarily Avidity. Life Sciences backlog increased by 32% compared to Q2 last year.
Successful Acquisitions
ATS completed the acquisitions of Paxiom and Heidolph, which are expected to complement existing portfolios in Food and Beverage and Life Sciences, respectively.
Positive Developments in Energy and Consumer Products
Energy backlog remains strong, driven by refurbishment of existing nuclear reactors and SMR market opportunities. Consumer Products funnel remains stable with niche opportunities in warehouse automation and consumer packaging.
Strong Order Backlog
Order backlog ended the quarter at just over $1.8 billion, with trailing 12-month book-to-bill ratios above 1 in all market verticals, except Transportation.