07:12 AM EDT, 05/26/2025 (MT Newswires) -- ATS (ATS.TO), an automation solutions provider, over the weekend said that in the fiscal first quarter of 2026 it will receive a settlement of US$135 million from an electric vehicle customer for outstanding payments owed.

No further work will be required of ATS on the client' projects.

ATS released preliminary fourth-quarter information reflecting the impact of the agreement. These include adjusted net income of US$40 million, or US$0.41 per basic share, and revenue of US$721 million. ATS reports financial results on May 28 after the close of trading.

"It was important to get this matter behind us," said Andrew Hider, chief executive officer. "All factors considered, we believe this outcome is the best result for ATS. With transportation having become a smaller piece of our business, this Agreement allows us to focus on our growth strategy consistent with our emphasis on regulated markets, while continuing to deliver value to all stakeholders."