Celestica Inc. · TSX:CLS
Celestica — Q1 2026 Earnings Presentation
24 slides from Celestica's earnings presentation, Apr 28, 2026
Slide 1: First Quarter 2026 Financial Results
First Quarter 2026 Financial Results April 28, 2026 1
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements, including, without limitation, those related to: strengthening demand in our businesses, demand environment and customer forecasts, our anticipated financial and/or operational results, guidan
Slide 3: CEO Remarks
CEO Remarks ‘Celestica”
Slide 4: Q1 2026 Results
Q1 2026 Results1 Q1 2026 YTY Q1 2026 Guidance Revenue $4.05B +53% $3.85B - $4.15B GAAP Earnings from Operations as a % of Revenue 6.7% +180 bps GAAP EPS $1.83 +147% Adjusted Operating Margin (Non-GAAP)2 8.0% +90 bps 7.8% Adjusted EPS (Non-GAAP) $2.16 +80% $1.95 - $2.15 1 See “Note Regarding Non-GAAP
Slide 5: Q1 2026 Highlights
Q1 2026 Highlights¹ GAAP financial measures Q1 2026 B/(W) QTQ B/(W) YTY $ Millions (Except for per share amounts and %) Revenue $4,047 $392 $1,398 Gross Margin 10.8% (1.0%) 0.5% Earnings from Operations $272.1 ($42.3) $143.3 Earnings from Operations as a % of Revenue 6.7% (1.9%) 1.8% Effective Tax R
Slide 6: ATS and CCS Segment Revenue and Profitability
ATS1 and CCS2 Segment Revenue and Profitability $ Millions Q1 2026 YTY ATS $806 Flat Revenue CCS $3,241 Up 76% Q1 2026 Revenue4 Communications $2,411 Up 69% ATS 20% Enterprise3 $830 Up 101% $ Millions Q1 2026 YTY Segment Income5 ATS $48 Up 18% CCS $277 Up 88% CCS Q1 2026 YTY 80% Segment Margin5 ATS
Slide 7: Working Capital
Working Capital $ Millions Q1 2026 B/(W) QTQ B/(W) YTY Inventory Turns1 5.9x (0.2x) 0.5x Inventory $2,673 ($485) ($885) Customer Cash Deposits for Inventory2 $389 ($18) ($83) Cash Cycle Days Q1 2026 Q4 2025 Q1 2025 Days in A/R3 65 63 72 Days in Inventory3 61 60 68 Days in A/P3 (60) (50) (51) Days in
Slide 8: Cash Flow Overview
Cash Flow Overview Cash Provided by Operations Non-GAAP Free Cash Flow1 ($M) 356 251 143 152 156 123 130 126 138 120 100 96 94 89 66 77 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 QTQ YTY $ Millions Q1 2026 Increase/(Decrease) Increase/(Decrease) Capex $230 $135 $193 Capex as a % of revenue 5.7%
Slide 9: Balance Sheet
Balance Sheet Balance Sheet (as of March 31, 2026) Share Repurchases Under NCIB Cash and Cash Equivalents $378M Repurchased 73K shares for Revolver (excluding L/Cs) - cancellation for $20M in Q1 2026 Term Loans $719M Net Debt $341M Amended Credit Facility GAAP TTM Debt Leverage Ratio1 0.6x Upsized R
Slide 10: Q2 2026 Guidance
Q2 2026 Guidance1 Revenue $4.15B - $4.45B 8.0% Adjusted Operating Margin (Non-GAAP) at the mid-point of revenue and non-GAAP adjusted EPS guidance ranges Adjusted EPS (Non-GAAP) $2.14 - $2.34 Q2 2026 Non-GAAP Tax Rate Estimate1 Adjusted Effective Tax Rate (Non-GAAP) of approximately 21% 1 See “Cauti
Slide 11: Q2 2026 End Market Revenue Outlook
Q2 2026 End Market Revenue Outlook1 Year-over-Year Revenue % Change ATS2 Increase mid single-digit Communications Increase approximately 50% Enterprise3 Increase approximately 130% 1 Outlook reflects management’s expectations as of the date provided. 2 Our ATS segment consists of our ATS end market,
Slide 12: 2026 Annual Outlook
2026 Annual Outlook1 2026 Outlook Previous 2026 Outlook Revenue Outlook $19.0B $17.0B Adjusted Operating Margin (Non-GAAP) 8.1% 7.8% Adjusted EPS (Non-GAAP) $10.15 $8.75 Capex ~$1B ~$1B Free Cash Flow (Non-GAAP) $500M $500M 2026 Non-GAAP Tax Rate Estimate1 Adjusted Effective Tax Rate (Non-GAAP) of a
Slide 13: Business Outlook
Business Outlook1 Connectivity & Cloud Solutions Advanced Technology Solutions 2026 revenues expected to grow by ~70% 2026 revenues expected to be up mid-to-high single-digit Communications Capital Equipment Accelerating volumes through 2026. 800G program ramps continue Re-acceleration of growth dri
Slide 14: Concluding Remarks
Concluding Remarks _Celestica”
Slide 15: . Celestica”
. Celestica” a ~~
Slide 16: First Quarter 2026 Financial Results
First Quarter 2026 Financial Results April 28, 2026
Slide 17: Appendix
Appendix oy ‘Celestica”
Slide 18: Segment Income and Margin
Segment Income and Margin1 * 2 * Refers to notes to our March 31, 2026 unaudited interim condensed consolidated financial statements (Q1 2026 Interim Financial Statements) 1 Segment margin is segment income as a percentage of segment revenue. Segment income is defined as a segment’s revenue less its
Slide 19: Non-GAAP Financial Measures
Non-GAAP Financial Measures The non-GAAP financial measures included in this presentation are: adjusted gross profit, adjusted gross margin (adjusted gross profit as a percentage of revenue), adjusted selling, general and administrative expenses (SG&A), adjusted SG&A as a percentage of revenue, adju
Slide 20: Non-GAAP Financial Measures continued
Non-GAAP Financial Measures…continued Restructuring and Other Charges (Recoveries) consist of, when applicable: Restructuring Charges (Recoveries) (defined below); Transition Costs (Recoveries) (defined below); consulting, transaction and integration costs related to potential and completed acquisit
Slide 21: GAAP to Non-GAAP Reconciliation
GAAP to non-GAAP Reconciliation1 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 FY 2025 Revenue $ 2,391.9 $ 2,499.5 $ 2,545.7 $ 2,648.6 $ 2,893.4 $ 3,194.0 $ 3,654.9 $ 4,047.0 $ 12,390.9 Net earnings 95.0 89.5 151.7 86.2 211.0 267.8 267.5 212.3 832.5 GAAP Earnings per share - dilute
Slide 22: GAAP to Non-GAAP Reconciliation continued
GAAP to non-GAAP Reconciliation…continued1 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 FY 2025 GAAP Net earnings $ 95.0 $ 89.5 $ 151.7 $ 86.2 $ 211.0 $ 267.8 $ 267.5 $ 212.3 $ 832.5 As a percentage of revenue 4.0% 3.6% 6.0% 3.3% 7.3% 8.4% 7.3% 5.2% 6.7% Employee SBC expense 11.9
Slide 23: GAAP to Non-GAAP Reconciliation continued
GAAP to non-GAAP Reconciliation…continued1 The following table sets forth a reconciliation of our non-GAAP adjusted effective tax rate to our GAAP effective tax rate for the periods indicated (in millions, except percentages). Adjusted tax expense is determined by excluding the tax effects of the no
Slide 24: First Quarter 2026 Financial Results
First Quarter 2026 Financial Results April 28, 2026