Celestica (CLS) Beats Q2 Earnings and Revenue Estimates

Company Performance - Celestica reported quarterly earnings of $0.91 per share, exceeding the Zacks Consensus Estimate of $0.82 per share, and showing an increase from $0.55 per share a year ago [10] - The company posted revenues of $2.39 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 6.33% and up from $1.94 billion year-over-year [2] - Celestica has consistently outperformed consensus EPS estimates over the last four quarters, achieving this four times [11] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.80 on revenues of $2.28 billion, and for the current fiscal year, it is $3.33 on revenues of $9.12 billion [14] - The estimate revisions trend for Celestica is favorable, contributing to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [4] Industry Context - The Electronics - Manufacturing Services industry, to which Celestica belongs, is currently ranked in the bottom 22% of over 250 Zacks industries, which may impact stock performance [5] - Despite the industry ranking, Celestica's shares have increased approximately 97.7% since the beginning of the year, significantly outperforming the S&P 500's gain of 16.5% [7]