Celestica(US:CLS) Newsfilterยท2024-07-24 21:48Core Insights - Celestica Inc. reported strong financial performance for Q2 2024, with a year-over-year revenue increase of 23% and a 65% rise in non-IFRS adjusted EPS [2][3] - The company raised its full-year 2024 outlook, anticipating revenue of $9.45 billion and non-IFRS adjusted EPS of $3.62, representing growth of 19% and 49% respectively compared to 2023 [3][9] Q2 2024 Highlights - Revenue for Q2 2024 was $2.392 billion, exceeding guidance of $2.175 to $2.325 billion [13] - Non-IFRS operating margin was 6.3%, up from 6.1% in the previous guidance [13] - Adjusted EPS for Q2 2024 was $0.91, compared to guidance of $0.75 to $0.85 [13] - The ATS segment revenue decreased by 11% year-over-year, while the CCS segment revenue increased by 51% [7] Q3 2024 Guidance - For Q3 2024, Celestica expects revenue between $2.325 billion and $2.475 billion [8] - Non-IFRS operating margin is projected to be 6.3% at the mid-point of revenue guidance [8] - Adjusted EPS is anticipated to range from $0.86 to $0.96 [8] 2024 Annual Outlook Update - The updated 2024 outlook includes revenue of $9.45 billion, an increase from the previous outlook of $9.1 billion [9] - Non-IFRS operating margin is now expected to be 6.3%, up from 6.1% [9] - Non-IFRS adjusted EPS is revised to $3.62, compared to the previous estimate of $3.30 [9] Financial Performance Metrics - Non-IFRS adjusted free cash flow for Q2 2024 was $63.3 million, slightly down from $66.8 million in Q2 2023 [7] - The company achieved a non-IFRS adjusted ROIC of 26.7% for Q2 2024, compared to 20.0% for Q2 2023 [7][58] - IFRS EPS for Q2 2024 was $0.83, which included an aggregate charge of $0.23 per share for various expenses [15]