Celestica (CLS) came out with quarterly earnings of $1.04 per share, beating the Zacks Consensus Estimate of $0.94 per share. This compares to earnings of $0.65 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10.64%. A quarter ago, it was expected that this electronics manufacturing services company would post earnings of $0.82 per share when it actually produced earnings of $0.91, delivering a surprise of 10.98%.Over the last ...

Financial Performance - Revenue increased by 22% year-over-year to $2.50 billion[7] - Non-IFRS Operating Margin increased by 100 bps year-over-year to 6.7%[7] - Non-IFRS Adjusted EPS – diluted increased by 39 cents year-over-year to $1.04[7] - Earnings from Operations as a Percentage of Revenue decreased by 20 bps year-over-year to 5.5%[8] - EPS - diluted increased by 10 cents year-over-year to $0.77[8] Segment Performance - ATS revenue decreased by 5% year-over-year, while CCS revenue increased by 42% year-over-year[7] - ATS segment income was $39.0 million in Q3 2024 compared to $42.1 million in Q3 2023[13] - CCS segment income was $128.7 million in Q3 2024 compared to $73.6 million in Q3 2023[13] - ATS segment margin was 4.8% in Q3 2024 compared to 4.9% in Q3 2023[14] - CCS segment margin was 7.6% in Q3 2024 compared to 6.2% in Q3 2023[14] - Non-IFRS Lifecycle Solutions revenue accounted for 63% of total revenue in Q3 2024, compared to 66% in Q3 2023[12] Q4 2024 Guidance and Annual Outlook - Q4 2024 Revenue is expected to be between $2.425 billion and $2.575 billion[21] - The company expects a Non-IFRS Operating Margin of 6.7% at the mid-point of revenue and non-IFRS adjusted EPS guidance ranges[21] - The company expects Non-IFRS Adjusted EPS – diluted to be between $0.99 and $1.09[21] - The company expects Non-IFRS Adjusted SG&A to be between $78 million and $80 million[21] - The company estimates a Non-IFRS Adjusted Effective Tax Rate of approximately 21% for Q4 2024[21] - The company anticipates 2024 Revenue outlook of $9.60 billion[24]

Financial Performance - The company reported adjusted gross profit and adjusted gross margin, which are key non-IFRS financial measures, to provide a clearer view of operational performance[30]. - IFRS revenue for the three months ended September 30, 2023, was $2,043.3 million, representing a 10.1% increase compared to the previous year[46]. - Non-IFRS adjusted net earnings for the nine months ended September 30, 2023, were $202.0 million, up from $334.8 million in 2024[46]. - IFRS net earnings for the three months ended September 30, 2023, were $80.2 million, a 3.9% increase year-over-year[46]. - Non-IFRS operating earnings for the three months ended September 30, 2023, were $115.7 million, reflecting a 5.7% margin[46]. - The company reported a diluted EPS of $0.67 for the three months ended September 30, 2023, compared to $0.77 in the previous year[46]. - Net earnings for Q3 2024 increased to $91.7 million, up from $80.2 million in Q3 2023, representing a growth of 18.6%[65]. - For the nine months ended September 30, 2024, net earnings reached $293.0 million, compared to $160.4 million for the same period in 2023, marking an increase of 82.5%[65]. - Total comprehensive income for the period was $69.0 million for Q3 2023, compared to $61.0 million in Q3 2022, indicating a positive trend in overall financial health[59]. Non-IFRS Measures - Adjusted net earnings and adjusted EPS are calculated by excluding non-core tax impacts and other specific charges, allowing for better performance comparison[44]. - The company aims to provide improved insight into tax effects of core operations through adjusted tax expense and effective tax rate measures[31]. - Non-IFRS financial measures are not standardized and may not be comparable to similar measures from other companies[32]. - The company believes that excluding employee SBC expense allows for better comparison of core operating results with competitors[35]. - Management believes that the use of non-IFRS measures provides a more consistent evaluation of operational results over time[31]. - The company emphasizes that non-IFRS measures should not be considered in isolation from IFRS measures[32]. Costs and Expenses - For YTD 2024, the company incurred $5.2 million in refinancing charges related to the amendment and restatement of its credit facility[43]. - The company recorded a $3.9 million charge in Q3 2023 as transition costs related to the Purchaser Lease[40]. - Transition costs include direct relocation and duplicate costs incurred during manufacturing line transfers, impacting financial results[40]. - Research and development expenses for Q3 2023 were $16.9 million, up from $15.0 million in Q3 2022, indicating a focus on innovation[58]. - Selling, general and administrative expenses for Q3 2023 were $56.9 million, compared to $50.0 million in Q3 2022, showing a 13.8% increase[58]. - The company reported finance costs of $18.6 million for Q3 2023, a decrease from $20.0 million in Q3 2022, reflecting improved cost management[58]. - Total finance costs decreased to $11.0 million in Q3 2024 from $18.3 million in Q3 2023, a reduction of 40.3%[65]. - Income tax expense for Q3 2024 was $33.7 million, compared to $18.9 million in Q3 2023, representing an increase of 78.5%[65]. Assets and Liabilities - Total assets as of September 30, 2024, are $5,926.8 million, compared to $5,890.7 million as of December 31, 2023[56]. - Current liabilities decreased to $3,036.8 million as of September 30, 2024, from $3,219.5 million as of December 31, 2023[56]. - Total liabilities as of September 30, 2024, are $4,107.1 million, down from $4,122.2 million as of December 31, 2023[56]. - Cash and cash equivalents increased to $398.5 million as of September 30, 2024, from $370.4 million as of December 31, 2023[56]. - Goodwill increased to $341.0 million as of September 30, 2024, from $321.7 million as of December 31, 2023[56]. - Total equity as of September 30, 2024, is $1,819.7 million, up from $1,768.5 million as of December 31, 2023[56]. Revenue Segmentation - ATS segment revenue for Q3 2024 was $859.4 million, representing 42% of total revenue, while CCS segment revenue was $1,183.9 million, accounting for 58%[75]. - Total revenue for Q3 2024 was $2,043.3 million, compared to $2,499.5 million in Q3 2023, indicating a decrease of approximately 18.3%[75]. - The company reported a total segment income of $115.7 million for Q3 2024, with a segment margin of 5.7%[76]. Acquisitions and Investments - The acquisition of NCS Global Services LLC was completed for a purchase price of $39.6 million, with a potential earn-out of up to $20 million based on future performance[78]. - The acquisition of NCS Global Services LLC was completed, impacting cash flows negatively by $36.1 million in the nine months ended September 30, 2024[65]. - Acquisition costs recorded in Q3 2024 were $0.4 million related to potential acquisitions, and $2.5 million year-to-date (YTD) 2024 related to the acquisition of NCS[120]. Shareholder Actions - The company launched a new Normal Course Issuer Bid (NCIB) on December 12, 2023, allowing the repurchase of up to approximately 11.8 million Common Shares until December 13, 2024[104]. - In Q3 2024, the aggregate cost of Common Shares repurchased for cancellation was $100.0 million, with 2.2 million shares repurchased[107]. - The weighted average price per share for repurchases in Q3 2024 was $44.44, compared to $11.80 in Q3 2023[107]. - The company recorded an accrual of $6.5 million for the maximum number of permitted Common Share repurchases under an SBC ASPP as of September 30, 2023[103]. Tax Matters - YTD 2024 net income tax expense was $68.1 million, including an $18.8 million withholding tax expense due to Pillar Two legislation and a $2.0 million repatriation expense[123]. - Q3 2024 net income tax expense was $33.7 million, which included a $2.6 million withholding tax expense and a $2.0 million repatriation expense[123]. - The Romanian tax authorities issued a final assessment of approximately 31 million Romanian leu (about $7 million) for additional income and value-added taxes for the years 2014 to 2018[139]. - The company has paid the full amount assessed by the Romanian tax authorities to advance its case to the appeals phase, believing its tax return positions comply with applicable laws[139]. - The company intends to vigorously defend its tax positions through appeals or judicial processes[139]. Risk Management - The company believes its credit risk from counterparty non-performance remains relatively low, with no material adjustments made to the allowance for doubtful accounts during Q3 2024 or YTD 2024[136]. - Liquidity risk is managed through maintaining cash on hand and access to various financing arrangements, with sufficient cash flow from operating activities to meet anticipated financial obligations[137]. - The majority of financial liabilities are due within 90 days, indicating a short-term liquidity management strategy[137]. - There is a risk of owing significant amounts in taxes or reimbursements if government assertions are upheld, although the company believes it has adequately accrued for probable adverse rulings[140].

(All amounts in U.S. dollars. Per share information based on diluted shares outstanding unless otherwise noted.) TORONTO, Oct. 23, 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 September 30, 2024 (Q3 2024)†. “We are pleased to have delivered very strong financial performance in Q3 2024, with revenue up 22% year-to ...

Celestica, Inc. (CLS) is scheduled to report third-quarter 2024 earnings on Oct. 23. For the third quarter, the Zacks Consensus Estimate for revenues is pegged at $2.41 billion, which implies growth of 18.01% from the year-ago quarter’s reported number. The Zacks Consensus Estimate for third-quarter earnings is pegged at 92 cents per share, suggesting a rise of 41.54% year over year. Earnings estimates for CLS have remained unchanged at $3.65 per share for 2024 and $3.99 per share for 2025 over the past 60 ...

Group 1 - Celestica's share price has increased by 40% since April, indicating strong market performance [1] - The author emphasizes a background in IT and experience in managing a family portfolio, which has contributed to a deep understanding of investment dynamics [1] - The intention is to provide clear and accessible insights for investors of all experience levels, focusing on technology stocks and diverse sectors [1] Group 2 - The article expresses a commitment to collaborative exploration and insightful analysis to help investors navigate the market [1]

Celestica Inc. (CLS) recently launched DS4100 – a 1U 800G per port top-of-rack, leaf/spine switch – to cater to the high-bandwidth demands of data center networking across the enterprise, service provider and cloud provider domains. The latest addition to the Hardware Platform Solutions portfolio will help Celestica offer a comprehensive 800G data center switch lineup for demanding applications like artificial intelligence/machine learning (AI/ML) with the redundancy and flexibility required of modern data ...

. CLS Holdings USA, Inc. Partners with AE Global to Tackle the Plastic Crisis Innovative certified plastic-negative packaging partnership with AE Global's Talk Trash is projected to remove 27,000 lbs of ocean-bound plastic from the environment in 2025. October 15, 2024 8:00 AM EDT | Source: CLS Holdings USA, Inc. Las Vegas, Nevada--(Newsfile Corp. - October 15, 2024) - CLS Holdings USA, Inc. (OTCQB: CLSH) (CSE: CLSH), (the ''Company'' or ''CLS''), a diversified cannabis company operating as Cannabis Life Sc ...

Group 1 - The article discusses Celestica (NYSE: CLS, TSX: CLS:CA) and highlights an upcoming earnings release scheduled for the 23rd after market close [1] - The author mentions Bram de Haas, who has 15 years of investing experience and over 5 years managing a Euro hedge fund, emphasizing his risk management skills in identifying investment opportunities [1] Group 2 - The author has a beneficial long position in Celestica shares, indicating a personal investment interest in the company [2]

Company Analysis - Celestica Inc (NYSE: CLS) received a "Buy" rating in August 2023, which was reaffirmed in November 2023 [1] - The stock has shown a continuous upward trend since the initial coverage [1] Investment Research Service - Beyond the Wall Investing offers access to institutional-grade market analysis and investment ideas [1] - The service provides a free trial and a 10% discount for new subscribers [1] - Daniel Sereda, chief investment analyst at a family office, leads the investment group and specializes in filtering critical data for investment decisions [1] Analyst Position - The analyst holds a beneficial long position in Celestica Inc (NYSE: CLS) through stock ownership, options, or other derivatives [1]