TORONTO, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Celestica Inc. ((NYSE, TSX:CLS), a leader in design, manufacturing, hardware platform and supply chain solutions for the world's most innovative companies, has been named one of Canada's Top 100 Employers for Young People for 2024 by Mediacorp Canada Inc., organizers of the annual Canada's Top 100 Employers project. "We are honoured to be named among Canada's Top 100 Employers for Young People in 2024," said Rob Mionis, President and Chief Executive Officer, Celest ...

In stock investments, seasoned investors often seek high diamonds in rough — undervalued stocks with the potential for astronomical returns. A millionaire’s calculated bet can be reflected in these seven stocks, each representing a unique sector and promising significant growth. Leading the pack is the first stock, flaunting remarkable top-line growth and an impressive track record of closing high-value deals. Meanwhile, navigating the digital advertising realm, the second one outpaces industry expectations ...

Celestica (CLS) shares rallied 8.1% in the last trading session to close at $30.90. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3.7% loss over the past four weeks.The uptrend is likely to have been driven by increased visibility in demand from hyperscale customers, which is expected to propel the Connectivity and Cloud Solutions segment. CLS is also likely to benefit from multiple expansion plans with gra ...

Financial Data and Key Metrics Changes - The company reported third quarter revenue of $2.04 billion, which was towards the high end of the guidance range and represented a 6% year-over-year increase [79] - Non-IFRS adjusted EPS for the third quarter was $0.65, exceeding the high end of the guidance range and up $0.13 year-over-year [82] - Non-IFRS operating margin for the third quarter was 5.7%, marking the 15th consecutive quarter of year-over-year margin expansion [79][59] - The company raised its non-IFRS adjusted free cash flow expectation for 2023 from $125 million to $150 million, reflecting strong year-to-date performance [89] Business Line Data and Key Metrics Changes - The ATS segment delivered revenue of $859 million, up 12% year-over-year, driven by new program ramps in industrial and solid growth in HealthTech [60] - The CCS segment revenue was $1.18 billion, up 2% year-over-year, accounting for 58% of total revenues [83] - The HPS revenue was $493 million, down 5% year-over-year but up 39% sequentially, with expectations for return to year-over-year growth in 2024 [85] Market Data and Key Metrics Changes - Revenue in the communications end market for the third quarter was down 10% year-over-year, primarily due to tough comparisons from a strong prior year [61] - The enterprise end market revenue increased by 31% year-over-year, exceeding expectations of low double-digit growth [84] - The company anticipates revenues in the communications end market to decline in the mid-teen percentage range year-over-year for the fourth quarter [69] Company Strategy and Development Direction - The company is focused on expanding its services business, particularly in supporting CCS and hyperscaler customers, while being selective in M&A opportunities [44][47] - The company is investing in capacity expansion in Southeast Asia and Thailand to support AI growth, indicating a bullish outlook on AI demand [101][127] - The company expects to maintain a non-IFRS adjusted EPS growth of 10% or more compared to 2023, driven by higher revenue across end markets [70] Management Comments on Operating Environment and Future Outlook - Management noted that the near-term outlook for the communications end market remains soft but expects a return to growth in 2024 as customer investments in compute drive demand [4] - The company is optimistic about the medium-term outlook for its CCS segment, supported by significant investments from hyperscalers in data center capacity [73] - Management acknowledged some macroeconomic deterioration but indicated that their specific markets remain resilient [16] Other Important Information - The company reported a cash balance of $353 million and a total liquidity of approximately $1 billion, sufficient to meet anticipated business needs [67] - Inventory levels improved significantly, down $316 million year-over-year, indicating better working capital management [65] Q&A Session Summary Question: What is the driver behind switch sales and its relation to AI opportunities? - Management indicated that networking demand is recovering as inventory levels normalize, with expectations for increased demand driven by proprietary compute [7][100] Question: Do you have the capacity to grow both AI optimized server and switching businesses? - Management confirmed ongoing capacity expansions in Southeast Asia and Thailand to support AI growth, indicating confidence in meeting future demand [101][127] Question: Have there been changes in competitive positioning with hyperscaler customers? - Management noted that the focus is on reliable partners who can scale production, which plays to the company's strengths in complex compute modules [104] Question: What is the outlook for the enterprise business and its volatility? - Management explained that volatility is driven by specific customer demand fluctuations, particularly in storage, but proprietary compute demand remains strong [147] Question: How is the company positioned for M&A in light of current market trends? - Management stated they are being selective in M&A opportunities, focusing on capability-based acquisitions to enhance service offerings [44][47]

1 This presentation contains forward-looking statements, including, without limitation, those related to our future growth; trends in the electronics manufacturing services (EMS) industry and our segments (and/or their constituent businesses), and their anticipated impact on our business; our anticipated financial and/or operational results and targets, including those on the slides captioned "Q4 2023 Guidance," "Q4 2023 Non-IFRS Tax Rate Estimate," "Q4 2023 End Market Revenue Outlook," and "Updated 2023 an ...

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- ...