12 more... CELESTICA INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in millions of U.S. dollars, except percentages and per share amounts) (unaudited) (1) (2) (3) ASPPs). In connection with one of the September 2023 SBC ASPPs, we recorded an accrual of $6.5 as of September 30, 2023 (September 2023 SBC Accrual), representing the Contractual Maximum Quantity (0.3 million SVS) thereunder. SVS repurchased in Q3 2023, YTD 2023 and the respective prior year periods for cancellation and for SBC plan de ...

Celestica Inc. (NYSE:CLS) Q2 2023 Earnings Conference Call July 27, 2023 8:00 AM ET Company Participants Craig Oberg – Vice President, Investor Relations & Corporate Development Rob Mionis – President and Chief Executive Officer Mandeep Chawla – Chief Financial Officer Conference Call Participants Rob Young – Canaccord Thanos Moschopoulos – BMO Todd Coupland – CIBC Maxim Matushansky – RBC Capital Markets Daniel Chan – TD Cowen Operator Good morning, ladies and gentlemen, and welcome to the Celestica Q2 2023 ...

Second Quarter 2023 Financial Results Cautionary Note Regarding Forward- Looking Statements All forward-looking statements attributable to us are expressly qualified by these cautionary statements. CEO Remarks Celestica™ Revenue $1.94B Non-IFRS Adjusted EPS – diluted1 $0.55 Up 11 cents YTY ATS1 and CCS2 Segment Revenue and Profitability ATS 38% CCS 62% | --- | --- | --- | |---------------------|------------|-----------------| | Revenue $ Q2 2023 | Sequential | Year over Year | | ATS | Up 9% | Up 24% | | CCS ...

| --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------|-------|-------|------------------|-------|--------------| | Assets | Note | | December 31 2022 | | June 30 2023 | | Current assets: | | | | | | | Cash and cash equivalents | | $ | 374.5 | $ | 360.7 | | Accounts receivable | 4 | | 1,393.5 | | 1,303.7 | | Inventories | 5&12 | | 2,350.3 | | 2,345.6 | | Income taxes receivable | | | 5.9 | | 7.2 | | Other current assets | 12 | | 202.8 | | 179.4 | ...

Celestica Inc. (NYSE:CLS) Q1 2023 Results Conference Call April 27, 2023 8:00 AM ET Company Participants Craig Oberg - VP, IR & Corporate Development Robert Mionis - President and CEO Mandeep Chawla - CFO Conference Call Participants Rob Young - Canaccord Genuity Thanos Moschopoulos - BMO Capital Markets Maxim Matushansky - RBC Capital Markets Daniel Chan - TD Operator Good morning, ladies and gentlemen, and welcome to the Celestica Q1 2023 Earnings Conference Call. At this time, we will conduct a question- ...

Revenue and Financial Performance - IFRS revenue for Q1 2023 was $1,837.8 million, an increase from $1,566.9 million in Q1 2022[168] - Revenue increased from $1,566.9 million in Q1 2022 to $1,837.8 million in Q1 2023[72] - Celestica raised its 2023 revenue outlook to at least $7.6 billion, up from the previous outlook of at least $7.5 billion[4] - Q2 2023 revenue guidance is projected to be between $1.75 billion and $1.90 billion, with a 5.2% growth at the mid-point of the revenue and non-IFRS adjusted EPS guidance ranges[3] - The ATS segment revenue for Q1 2023 was $792.2 million, representing 43% of total revenue, while the CCS segment revenue was $1.0456 billion, representing 57% of total revenue[56] - ATS segment revenue increased by 14% compared to Q1 2022, with a segment margin of 4.4% (down from 5.0% in Q1 2022)[176] - CCS segment revenue increased by 20% compared to Q1 2022, with a segment margin of 5.8% (up from 3.9% in Q1 2022)[176] Profitability and Margins - Non-IFRS adjusted gross profit for Q1 2023 was $172.6 million, representing 9.4% of revenue, compared to $138.1 million (8.8%) in Q1 2022[168] - Non-IFRS operating earnings (adjusted EBIAT) for Q1 2023 were $95.4 million (5.2% of revenue), up from $69.3 million (4.4%) in Q1 2022[168] - Non-IFRS operating margin for Q1 2023 was 5.2%, with a mid-point guidance range of 5.0%[180] - The company tightened its 2023 non-IFRS operating margin guidance to between 5.0% and 5.5%, from the previous range of 4.5% to 5.5%[4] - CCS segment income increased from $34.2 million in Q1 2022 to $60.8 million in Q1 2023, with segment margin rising from 3.9% to 5.8%[207] Earnings and Cash Flow - Non-IFRS adjusted net earnings for Q1 2023 were $57.2 million, compared to $48.2 million in Q1 2022[168] - Non-IFRS adjusted free cash flow for Q1 2023 was $9.2 million, a significant improvement from $0.5 million in Q1 2022[168] - Adjusted free cash flow (non-IFRS) was $9.2 million, compared to $0.5 million in Q1 2022[176] - Net earnings for the period increased from $21.8 million in Q1 2022 to $24.7 million in Q1 2023[72] - Diluted earnings per share (EPS) for Q1 2023 was $0.20, up from $0.17 in Q1 2022[172] - Adjusted EPS (non-IFRS) for Q1 2023 was $0.47, compared to $0.39 in Q1 2022[176] - Celestica also tightened its 2023 non-IFRS adjusted EPS guidance to between $2.00 and $2.05, from the previous range of $1.95 to $2.05[4] Segment Performance - Communications end market revenue accounted for 36% of total revenue in Q1 2023, down from 38% in Q1 2022, while Enterprise end market revenue increased to 21% from 18% over the same period[56] - Two customers in the CCS segment individually represented 15% and 11% of total revenue in Q1 2023, compared to no individual customer representing 10% or more of total revenue in Q1 2022[232] Cash and Liquidity - Net cash provided by operating activities in Q1 2023 was $72.3 million, compared to $35.3 million in Q1 2022[46] - Cash provided by operations was $72.3 million, up from $35.3 million in Q1 2022[176] - Cash and cash equivalents decreased from $374.5 million in December 2022 to $318.7 million in March 2023[71] - Accounts receivable decreased from $1,393.5 million in December 2022 to $1,260.1 million in March 2023[71] - Inventories increased from $2,350.3 million in December 2022 to $2,403.3 million in March 2023[71] - Accounts receivable (A/R) sales program sold $282.6 million of A/R at March 31, 2023, up from $245.6 million at December 31, 2022[209] - The company entered into an A/R sales program agreement with a third-party bank, allowing the sale of up to $450.0 million in A/R, increased from the prior limit of $405.0 million[88] Debt and Financial Covenants - Total borrowings under the Credit Facility decreased from $627.2 million in December 2022 to $622.6 million in March 2023[65] - Initial Term Loan remained constant at $280.4 million, while Incremental Term Loan decreased from $346.8 million to $342.2 million over the same period[65] - Celestica was in compliance with all restrictive and financial covenants under the Credit Facility as of March 31, 2023 and December 31, 2022[64] - Outstanding balances under the Term Loans decreased from $660.4 million in December 2021 to $622.6 million in March 2023, with repayments totaling $37.8125 million over the period[213] Share Repurchases and Equity - The company repurchased $10.6 million worth of SVS for cancellation in Q1 2023, with an additional $5.0 million accrued for future repurchases[174] - Repurchased 0.8 million subordinate voting shares (SVS) for cancellation for $10.6 million under the normal course issuer bid[176] - The company repurchased up to 9.0 million SVS under the 2021 NCIB, with an accrued $7.5 for 0.7 million SVS repurchases under the December 2021 NCIB ASPP, which was reversed in Q1 2022[67] - Total equity decreased from $1,677.7 million in December 2022 to $1,655.5 million in March 2023[71] Restructuring and Provisions - The company recorded $4.3 million in cash restructuring charges in Q1 2023, primarily for employee termination costs, with a restructuring provision of $7.0 million as of March 31, 2023[220] Insurance and Tax Matters - The company recovered $31 million and $2 million of inventory losses through insurance proceeds in Q4 2022 and Q1 2023, respectively, following a fire at the Batam, Indonesia facility in June 2022[238] - The company paid approximately $7 million to Romanian tax authorities in Q3 2021 to advance a tax case to the appeals phase, disputing the assessment for additional income and value-added taxes[236] Accounting Standards and Compliance - The company adopted new accounting standards effective January 1, 2023, including amendments to IAS 8 and IAS 12, which had no material impact on consolidated financial statements[82][83] Return on Invested Capital (ROIC) - Non-IFRS adjusted ROIC for Q1 2023 was 17.9%, up from 13.9% in Q1 2022[168] - Adjusted return on invested capital (ROIC) (non-IFRS) was 17.9%, up from 13.9% in Q1 2022[176] - Annualized IFRS earnings from operations increased from $162.4 million in 2022 to $237.6 million in 2023, with IFRS ROIC rising from 8.1% to 11.2%[69] Swap Agreements and Financial Instruments - The company amended the swap agreement with one of the two counterparty banks under the Incremental Swaps, with a notional amount of $50.0 million, to mirror the LIBOR successor provisions under the Credit Facility[141] Comprehensive Income and Expenses - Total comprehensive income for Q1 2023 was $20.7 million, down from $32.5 million in Q1 2022[173] - Research and development expenses increased from $11.4 million in Q1 2022 to $12.1 million in Q1 2023[72] - Adjusted SG&A (non-IFRS) was $64.3 million, with a guidance range of $56 to $58 million[180] - Non-IFRS adjusted SG&A expenses for Q1 2023 were $64.3 million (3.5% of revenue), down from $56.7 million (3.6%) in Q1 2022[168]

We recorded Acquisition Costs in 2022 of $0.4 million, all related to our acquisition of PCI. We recorded net Acquisition Costs in 2021 of $6.1 million, consisting of $7.3 million in costs related to acquisition activities, including the acquisition of PCI, offset in part by a $1.2 million release related to certain indirect tax liabilities previously recorded in connection with our acquisition of Impakt in November 2018. We recorded $0.2 million of Acquisition Costs in 2020 related to potential acquisition ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------------------------------------|--------|-------|----------------|-------|-------|-------|----------------|-------|---------|----------------|-------|---------|----------------| | | | | | | | | | | | | | | | | | Note * | | 2021 | | | 2022 | | | | 2021 | | 2022 | | | | | | Segment Margin | | | | Segment Margin | | | Segment Margin | | | Segment Margin | | ATS segment income and ...

Celestica Inc. (NYSE:CLS) Q4 2022 Earnings Conference Call January 26, 2023 8:00 AM ET Company Participants Craig Oberg - VP, IR & Corporate Development Rob Mionis - President & CEO Mandeep Chawla - CFO Conference Call Participants Jim Suva - Citigroup Inc. Thanos Moschopoulos - BMO Capital Markets Paul Treiber - RBC Capital Markets Robert Young - Canaccord Genuity Group Inc. Todd Coupland - CIBC Operator Good morning, ladies and gentlemen, and welcome to the Celestica Q4 2022 Earnings Conference Call. At t ...

FOR IMMEDIATE RELEASE January 25, 2023 (All amounts in U.S. dollars. Per share information based on diluted shares outstanding unless otherwise noted.) Performance exceeds the high end of 4 quarter guidance; reaffirms outlook for 2023 th "Celestica finished with a strong fourth quarter and had an outstanding 2022, resulting in 46% year-over-year non-IFRS adjusted EPS* growth. Our ability to successfully execute on our long-term strategy has allowed us to win in markets where we see opportunity for long-term ...