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TORONTO, April 25, 2024 (GLOBE NEWSWIRE) -- Celestica Inc. ((NYSE, TSX:CLS), a leader in design, manufacturing and supply chain solutions for the world's most innovative companies, today announced, in accordance with the requirements of the Toronto Stock Exchange, that the nominees listed in its management information circular were elected as directors of the company at its Annual and Special Meeting of Shareholders held earlier today. On a vote by ballot, each of the following nine nominees proposed by man ...

Financial Data and Key Metrics Changes - First quarter revenue was $2.21 billion, up 20% year-over-year, exceeding guidance [4][55] - Adjusted EPS for the first quarter was $0.86, an increase of $0.39 compared to the prior year [43] - Non-IFRS operating margin improved to 6.2%, up 100 basis points year-over-year [4][55] - Adjusted free cash flow was $65 million, compared to $9 million in the prior year [20] Segment Performance Changes - ATS segment revenue was $768 million, down 3% year-over-year, driven by demand softness in the industrial business [5] - CCS segment revenue was $1.44 billion, up 38% year-over-year, with enterprise end market revenue increasing by 72% [6][44] - HPS revenue was $519 million, up 40% year-over-year, driven by stronger networking demand from hyperscaler customers [7] Market Data and Key Metrics Changes - The enterprise end market is expected to grow in the low 20% range year-over-year, driven by AI/ML compute demand [25] - Communications end market revenue is anticipated to increase in the mid-40% range year-over-year [25] - The overall demand environment remains healthy, particularly in the CCS segment, supported by hyperscaler customers [39][95] Company Strategy and Development Direction - The company is raising its full-year outlook for 2024, expecting revenue of $9.1 billion and adjusted EPS of $3.30, representing growth of 14% and 36% respectively [27] - The company continues to prioritize fundamentals, strategic roadmaps, and prudent decision-making to generate long-term shareholder value [11] - Investments are being made in capacity expansion to support growth in hyperscaler demand, including new facilities in Thailand and Malaysia [19][114] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver on financial targets despite some visibility challenges in the second half of the year [15][27] - The demand for AI/ML compute products remains strong, with expectations for continued growth in the CCS segment [33][35] - The company anticipates a return to year-over-year growth in the ATS segment by the fourth quarter of 2024 [29] Other Important Information - The company completed a tuck-in acquisition of NCS Global Services LLC for $36 million, enhancing its IT services capabilities [40] - Inventory balance was $1.96 billion, down $150 million sequentially, indicating effective working capital management [18] - The company plans to continue share repurchases opportunistically throughout 2024 [22] Q&A Session Summary Question: Full year guidance and visibility into the second half - Management noted that while hyperscaler demand remains healthy, visibility into the fourth quarter is uncertain due to demand dynamics [14][15] Question: Customer concentration and growth - The largest customer accounted for 34% of total revenues, with strong growth across multiple programs [45][36] Question: Competitive landscape and market share - Management acknowledged increased competition but emphasized strong relationships and multiple programs with hyperscalers [98][124] Question: Capacity utilization and expansion - The company is currently operating at high capacity utilization and is investing in additional capacity to meet future demand [113][127]

1 Cautionary Note Regarding Forward- Looking Statements Forward-looking statements are not guarantees of future performance and are subject to risks that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including, among others, risks related to: customer and segment concentration; reduction in customer revenue; erosion in customer market competitiveness; changing revenue mix and margins; uncertain market, political and economic conditions; o ...

Celestica (CLS) came out with quarterly earnings of $0.86 per share, beating the Zacks Consensus Estimate of $0.72 per share. This compares to earnings of $0.47 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 19.44%. A quarter ago, it was expected that this electronics manufacturing services company would post earnings of $0.68 per share when it actually produced earnings of $0.76, delivering a surprise of 11.76%.Over the last ...

At March 31, 2024, our A/R balance included $247.7 (December 31, 2023 — $250.8) of contract assets recognized as revenue in accordance with our revenue recognition accounting policy. 13 more... CELESTICA INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in millions of U.S. dollars, except percentages and per share amounts) (unaudited) We recorded Acquisition Costs of $1.0 in Q1 2024 related to potential acquisitions (Q1 2023 — $0.3). On December 8, 2022, the TSX accepted our notice to launch an NCI ...

Q1 2024 revenue and non-IFRS adjusted EPS* above the high end of guidance ranges;2024 full-year outlook raised (All amounts in U.S. dollars. Per share information based on diluted shares outstanding unless otherwise noted.) TORONTO, April 24, 2024 (GLOBE NEWSWIRE) -- Celestica Inc. (TSX:CLS) (NYSE:CLS), a leader in design, manufacturing, hardware platform and supply chain solutions for the world's most innovative companies, today announced financial results for the quarter ended March 31, 2024 (Q1 2024)†. " ...

Celestica, Inc. (CLS) is set to report its first-quarter 2024 results on Apr 24, after the closing bell. In the last reported quarter, the company beat the Zacks Consensus Estimate of 68 cents and delivered a trailing four-quarter earnings surprise of 8.77%, on average.The company is expected to record revenue growth year over year, backed by strong demand for its manufacturing technology and service solutions. The introduction of next-generation networking hardware solutions to support the advanced use cas ...

Celestica (CLS) ended the recent trading session at $43.81, demonstrating a -1.82% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.22%. Meanwhile, the Dow experienced a rise of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.52%.Heading into today, shares of the electronics manufacturing services company had gained 1.29% over the past month, outpacing the Computer and Technology sector's loss of 1.64% and the S&P 500's loss of 1.6 ...