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    Patrick Sullivan

    Research Analyst at TD Cowen

    Patrick Sullivan is an Equity Research Associate at TD Cowen, specializing in coverage of the engineering and construction sectors. He provides research and analysis on publicly traded companies within those industries, contributing to TD Cowen's institutional equity research reports and conferences. Sullivan began his professional career with TD Cowen and has played an active role in generating sector insights and supporting senior analysts with company coverage. He holds securities industry credentials and adheres to FINRA registration requirements relevant for research associates.

    Patrick Sullivan's questions to ATS Corp /ATS (ATS) leadership

    Patrick Sullivan's questions to ATS Corp /ATS (ATS) leadership • Q1 2026

    Question

    Patrick Sullivan, on for Cherilyn Radbourne, asked for clarification on the lab space business in light of U.S. funding pressures and automation initiatives, and requested more details on the Multiflex system's applications in the nuclear sector.

    Answer

    CEO Andrew Hider detailed the roles of various business units in the lab space, noting the overall impact from funding changes is small but that ATS is well-aligned with automation trends. He explained that the Multiflex system is a patented technology used for the safe and efficient decommissioning of large nuclear reactor components, for which the company has won awards and has a growing funnel.

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    Patrick Sullivan's questions to ATS Corp /ATS (ATS) leadership • Q1 2026

    Question

    Asked for clarification on the impact in the lab space (consumables vs. automation) and for more details on the new Multiflex system for the nuclear business.

    Answer

    The company has exposure to both lab automation and consumables through various business units, but the overall impact from research funding changes is small. The Multiflex system is a patented technology for the nuclear decommissioning market, designed to make the process safer and more efficient, and it has a growing sales funnel.

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