Celestica Announces Third Quarter 2024 Financial Results and Will Host Virtual Investor Meeting

elestica 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-year and non-IFRS adjusted EPS* up 60% year-to-year. With our guidance for Q4 2024, we expect a strong close to another successful year in 2024,” said Rob Mionis, President and CEO, Celestica.

“Looking to next year, we continue to see solid demand signals from many of our large customers, which are providing us with visibility for continued growth. Our 2025 outlook calls for higher year-over-year revenues and non-IFRS operating margin*, which if achieved would represent 15% annual growth in our non-IFRS adjusted EPS*.”

Q3 2024 Highlights

• Key measures:
  • Revenue: $2.50 billion, increased 22% compared to $2.04 billion for the third quarter of 2023 (Q3 2023).
  • Non-IFRS operating margin*: 6.7%, compared to 5.7% for Q3 2023.
  • CCS segment revenue increased 42% compared to Q3 2023; CCS segment margin was 7.6% compared to 6.2% for Q3 2023.
  • ATS segment revenue decreased 5% compared to Q3 2023; ATS segment margin was 4.8% compared to 4.9% for Q3 2023.
  • Adjusted earnings per share (EPS) (non-IFRS)*: $1.04, compared to $0.65 for Q3 2023.
  • Adjusted return on invested capital (adjusted ROIC) (non-IFRS)*: 28.6%, compared to 21.5% for Q3 2023.
  • Adjusted free cash flow (non-IFRS)*: $74.5 million, compared to $34.1 million for Q3 2023.
• Most directly comparable IFRS financial measures to non-IFRS measures above:
  • Earnings from operations as a percentage of revenue: 5.5% compared to 5.7% for Q3 2023.
  • EPS: $0.77 compared to $0.67 for Q3 2023.
  • Return on invested capital (IFRS ROIC): 23.3% compared to 21.8% for Q3 2023.
  • Cash provided by operations: $144.8 million compared to $88.4 million for Q3 2023.
• Repurchased 2.2 million common shares for cancellation for $100.0 million.