{"success":true,"data":{"pressRelease":{"id":"180230","rtpr_id":"nGNXf86tQ-20261026","ticker":"CLS","exchange":"NYSE","all_tickers":["CLS"],"title":"Celestica Announces Third Quarter 2026 Financial Results and Will Hold 2026 Investor and Analyst Day","author":"Globe Newswire","published_at":"2026-10-26T20:17:00.600Z","article_body":"Q3 2026 revenue and non-GAAP adjusted EPS* above the high end of our guidance\nranges;\n2027 outlook reflects accelerating revenue growth & non-GAAP adjusted\noperating margin* expansion\n\n(All amounts in U.S. dollars)\n\nTORONTO, Oct. 26, 2026 (GLOBE NEWSWIRE) -- Celestica Inc.(1) (NYSE: CLS) (TSX:\nCLS), a global leader in data center infrastructure and advanced technology\nsolutions, today announced its financial results for the third quarter ended\nSeptember 30, 2026 (Q3 2026).\n\nQ3 2026 Highlights\n* Revenue: $5.83 billion, increased 83% compared to $3.19 billion for the\nthird quarter of 2025 (Q3 2025).\n* GAAP earnings from operations as a % of revenue: 7.9%, compared to 10.2% for\nQ3 2025.\n* Adjusted operating margin (non-GAAP)*: 8.5%, compared to 7.6% for Q3 2025.\n* GAAP earnings per share(2) (EPS): $3.26, compared to $2.31 for Q3 2025.\n* Adjusted EPS(2) (non-GAAP)*: $3.30, compared to $1.58 for Q3 2025.\n* Completed the previously announced public offering for aggregate gross\nproceeds of $3.45 billion.\n“Celestica’s strong momentum continued in the third quarter, achieving\nrevenue of $5.83 billion and adjusted EPS (non-GAAP)* of $3.30, up 83% and\n109%, respectively,” said Rob Mionis, Chair of the Board and CEO of\nCelestica. “Our adjusted operating margin (non-GAAP)* of 8.5% represents\nanother new high for the company, demonstrating the strength of our\noperational execution.”\n\n“Driven by these strong results to date and a demand environment that\ncontinues to strengthen, we are pleased to increase our 2026 annual outlook.\nWe now expect revenue to reach $21.0 billion and adjusted EPS (non-GAAP)* of\n$11.55, representing growth of 69% and 91%, respectively.”\n\n“We are also pleased to provide our initial 2027 annual outlook, with\nrevenue of $40.0 billion, up 90%, record adjusted operating margin (non-GAAP)*\nof 9.0% and adjusted EPS (non-GAAP)* of $21.50.”\n\n“Celestica is well-positioned to continue to support leading hyperscalers\nand frontier AI labs through the ongoing AI infrastructure supercycle. The\ndemand environment continues to be very robust, supporting our 2027 revenue\noutlook, with customer demand forecasts meaningfully higher for 2028.”\n\n(1 )Celestica has two operating and reportable segments: Connectivity & Cloud\nSolutions (CCS) and Advanced Technology Solutions (ATS). Effective Q3 2026, we\nrenamed the two end markets within our CCS segment to better describe the\nnature of the products delivered in each end market. Specifically, our\nCommunications end market was renamed Networking, and our Enterprise end\nmarket was renamed Compute & Storage. This name change does not impact our\nsegment reporting structure, the composition of our reportable segments, or\npreviously reported financial results for our segments and end markets. Our\nCompute & Storage end market continues to consist of Servers and Storage\nbusinesses. Our ATS segment consists of our ATS end market, and is comprised\nof our Aerospace and Defense, Industrial, HealthTech, and Capital Equipment\nbusinesses.\nSegment performance is evaluated based on segment revenue, segment income, and\nsegment margin (segment income as a percentage of segment revenue). See note 3\nto our September 30, 2026 unaudited interim condensed consolidated financial\nstatements (Q3 2026 Interim Financial Statements) for further detail.\n(2) Per share information included in this press release is based on diluted\nshares outstanding unless otherwise noted.\n* See Use of Non-GAAP Measures and Schedule 1 for, among other items, non-GAAP\nfinancial measures (and ratios) included in this press release, their\ndefinitions, uses, and a reconciliation of non-GAAP financial measures to the\nmost directly comparable GAAP financial measures. Non-GAAP measures in this\npress release are denoted with an asterisk (*).\n\nFourth Quarter of 2026 (Q4 2026) Guidance\n\n                                        Q4 2026 Guidance                                                                  \n Revenue (in billions)                  $6.275 to $6.575                                                                  \n Adjusted operating margin (non-GAAP)*  8.7% at the mid-point of our revenue and adjusted EPS (non-GAAP) guidance ranges  \n Adjusted EPS (non-GAAP)* ((1))         $3.37 to $3.57                                                                    \n\n\n\n ((1))  Q4 2026 guidance excludes a negative $0.21 to $0.27 per share (pre-tax) aggregate impact on net earnings on a GAAP basis for employee stock-based compensation (SBC) expense, amortization of intangible assets (excluding computer software), and restructuring charges. Q4 2026 guidance assumes an adjusted effective tax rate (non-GAAP)* of approximately 20%.  \n\n2026 Annual Outlook Update\n* Revenue of $21.0 billion (previous outlook $20.5 billion) ((1))\n* Adjusted EPS (non-GAAP)* of $11.55 (previous outlook $11.30) ((1))\n* Free cash flow (non-GAAP)* of $460 million (previous outlook $600 million)\n((2))\nOur previous adjusted operating margin (non-GAAP)* outlook of 8.4% remains\nunchanged.\n\n ((1))  The change of our 2026 annual outlook for revenue and adjusted EPS (non-GAAP)* is driven by our strong results in Q3 2026, as well as expected demand improvements for Q4 2026.  \n ((2))  The change of our 2026 annual outlook for free cash flow (non-GAAP)* is primarily driven by targeted working capital investments to support the accelerating growth in 2027.     \n\n2027 Annual Outlook and Long-Term Demand Update\n* Revenue of $40.0 billion\n* Adjusted EPS (non-GAAP)* of $21.50 ((1))\n* Adjusted operating margin (non-GAAP)* of 9.0%\n* Capital expenditures of between $1.5 billion and $2.0 billion\n ((1))  2027 guidance assumes an adjusted effective tax rate (non-GAAP)* of approximately 21%.  \n\nOur 2027 outlook anticipates acceleration in our revenue growth to 90%. We\ncontinue to pursue investment plans in support of anticipated multi-year\ngrowth, supported by 2028 customer demand forecasts that are meaningfully\nhigher than our 2027 revenue outlook.\n\n* See Use of Non-GAAP Measures and Schedule 1. For our Q4 2026 Guidance, 2026\nAnnual Outlook Update, and 2027 Annual Outlook and Long-Term Demand Update, we\npresent certain forward-looking non-GAAP metrics. A reconciliation of such\nforward-looking non-GAAP measures to the most directly comparable GAAP\nmeasures on a forward-looking basis has not been provided because the items\nthat we exclude from GAAP to calculate the comparable non-GAAP measure are\ndependent on future events that management is not able to reliably predict and\nare not part of our routine operating activities. We are unable to provide\nsuch a reconciliation without unreasonable effort due to the uncertainty and\ninherent difficulty in predicting the occurrence, the financial impact and the\nperiods in which the adjustments may be recognized. The occurrence, timing and\namount of any of the items excluded from GAAP to calculate non-GAAP could\nsignificantly impact our GAAP results.\n\nSummary of Selected Q3 2026 Results\n\n                                                  Q3 2026 Actual         Q3 2026 Guidance ((2))                                                            \n Revenue (in billions)                            $5.83                  $5.25 to $5.55                                                                    \n GAAP earnings from operations as a % of revenue         7.9%            N/A                                                                               \n GAAP EPS ((1))                                   $3.26                  N/A                                                                               \n Adjusted operating margin (non-GAAP)*                   8.5%            8.4% at the mid-point of our revenue and adjusted EPS (non-GAAP) guidance ranges  \n Adjusted EPS (non-GAAP)*                         $3.30                  $2.88 to $3.08                                                                    \n\nCCS segment revenue: $4.87 billion, increased 102% compared to Q3 2025; CCS\nsegment margin: 8.9% compared to 8.3% for Q3 2025. Hardware Platform Solutions\nrevenue of approximately $2.3 billion increased 70% compared to Q3 2025.\n\nATS segment revenue: $0.96 billion, increased 23% compared to Q3 2025; ATS\nsegment margin: 6.6% compared to 5.5% for Q3 2025.\n\n ((1))  GAAP EPS of $3.26 for Q3 2026 included an aggregate charge of $0.26 per share (pre-tax) for employee SBC expense, amortization of intangible assets (excluding computer software), and restructuring charges (Q3 2025 — $0.25 per share (pre-tax)). See the     \n        tables in Schedule 1 and note 11 to the Q3 2026 Interim Financial Statements for per-item charges. This aggregate charge was below our previously communicated Q3 2026 anticipated range of $0.27 to $0.33 per share (pre-tax) for these items, primarily due to \n        the increase in our weighted average number of shares outstanding resulting from our public offering of an aggregate of 11.1 million common shares completed on August 7, 2026.                                                                                 \n        GAAP EPS included pre-tax impacts from our total return swap agreement of negative $0.03 and positive $0.71 per share for Q3 2026 and the first nine months of 2026, respectively. This compares to positive pre-tax impacts of $0.98 and $1.65 per share for Q3 \n        2025 and the first nine months of 2025, respectively. See note 9 to our Q3 2026 Interim Financial Statements.                                                                                                                                                   \n ((2))  For Q3 2026, our revenue exceeded the high end of our guidance range due to higher than anticipated customer demand and strong operational execution. Stronger than anticipated operating leverage drove our adjusted operating margin (non-GAAP) to exceed the \n        mid-point of our revenue and adjusted EPS (non-GAAP) guidance ranges, which, combined with the higher revenue, drove our adjusted EPS (non-GAAP) to exceed the high end of our guidance range. Our GAAP effective tax rate for Q3 2026 was 13%. Our adjusted    \n        effective tax rate (non-GAAP) for Q3 2026 was 18%, lower than our anticipated estimate of approximately 20%, primarily due to favorable profit mix and a discrete tax benefit.                                                                                  \n\nIntention to Launch a New Normal Course Issuer Bid (NCIB)\n\nWe intend to file a notice of intention with the Toronto Stock Exchange (TSX)\nto commence a new NCIB in Q4 2026, after our current NCIB expires on November\n2, 2026. If this notice is accepted by the TSX, we expect to be permitted to\nrepurchase for cancellation, at our discretion during the twelve months\nfollowing such acceptance, up to 2.5% of the “public float” (calculated in\naccordance with TSX rules) of our issued and outstanding common shares.\nPurchases under the new NCIB, if accepted by the TSX, will be conducted in the\nopen market or as otherwise permitted, subject to applicable terms and\nlimitations, and will be made through the facilities of the TSX and the New\nYork Stock Exchange. We believe that a new NCIB is in the best interests of\nCelestica and our shareholders.\n\nQ3 2026 Financial Results Conference Call and 2026 Investor and Analyst Day\n\nManagement will host its Q3 2026 financial results conference call and 2026\nInvestor and Analyst Day on October 27, 2026. The conference call start time\nis 8:00 a.m. Eastern Time (ET). The webcast can be accessed at\nwww.celestica.com.\n\nUse of Non-GAAP Measures\n\nIn addition to disclosing detailed operating results in accordance with GAAP,\nCelestica provides supplementary non-GAAP financial measures to consider in\nevaluating our operating performance. Management uses adjusted net earnings\nand other non-GAAP financial measures to assess operating performance,\nfinancial leverage and the effective use and allocation of resources; to\nprovide more normalized period-to-period comparisons of operating results; to\nenhance investors’ understanding of the core operating results of\nCelestica’s business; and to set management incentive targets. We believe\ninvestors use both GAAP and non-GAAP financial measures to assess management's\ndecisions associated with our priorities and capital allocation, as well as to\nanalyze how our business operates in, or responds to, macroeconomic trends or\nother events that impact our core operations. See Schedule 1 below.\n\nAbout Celestica\n\nCelestica is a technology leader dedicated to driving customer success and\nmarket advancements. With deep expertise in design, engineering,\nmanufacturing, supply chain, and platform solutions, Celestica enables\ncritical data center infrastructure for AI, cloud and hybrid cloud, and\nadvances technologies in high-growth markets. With a talented team and a\nstrategic global network, Celestica helps its customers achieve competitive\nadvantages. For more information on Celestica, visit www.celestica.com. Our\nsecurities filings can be accessed at www.sedarplus.ca and www.sec.gov.\n\nThe information contained on or accessible through www.celestica.com is not\nincorporated by reference into, and does not form part of, this release.\n\nCautionary Note Regarding Forward-looking Statements\n\nThis press release contains forward-looking statements, including, without\nlimitation, those related to: strengthening demand environment of our\nbusinesses, customer forecasts, accelerating revenue growth, our anticipated\nfinancial and/or operational results, guidance and outlook, including\nstatements under the headings “Q3 2026 Highlights”, \"Fourth Quarter of\n2026 (Q4 2026) Guidance”, “2026 Annual Outlook Update”, “2027 Annual\nOutlook and Long-Term Demand Update” and “Intention to Launch a New Normal\nCourse Issuer Bid (NCIB)”, and including statements with respect to\ntimelines referenced therein, expected revenue growth in 2026, 2027, and 2028,\nanticipated multi-year growth, 2027 and 2028 customer demand forecasts,\nnon-GAAP operating margin and non-GAAP adjusted EPS, anticipated operating\nleverage, anticipated capital expenditures, expected working capital\ninvestment, cash usage and free cash flow, the sufficiency of our liquidity,\nROIC, our growth plans and anticipated capacity requirements for 2027 and\n2028, the anticipated use of the net proceeds of our recent public offering,\nour intention to launch a new NCIB and its anticipated terms, developments\nrelated to new customer or program wins and pursuits (including in data center\npower infrastructure), timing of production ramps, anticipated economic\nconditions, industry and market trends and projections, underlying market\ngrowth rates, customer demand, prospects and opportunities, and strategic\ninitiatives. Such forward-looking statements may, without limitation, be\npreceded by, followed by, or include words such as “believes,”\n“expects,” “anticipates,” “estimates,” “intends,” “plans,”\n“continues,” “projects,” \"target,\" \"outlook,\" \"goal,\" \"guidance,\"\n“potential,” “possible,” “contemplate,” “seek,” “demand\nforecasts,” or similar expressions, or may employ such future or conditional\nverbs as “may,” “might,” “will,” “could,” “should,” or\n“would,” or may otherwise be indicated as forward-looking statements by\ngrammatical construction, phrasing or context. For those statements, we claim\nthe protection of the safe harbor for forward-looking statements contained in\nthe U.S. Private Securities Litigation Reform Act of 1995, where applicable,\nand for forward-looking information under applicable Canadian securities laws.\n\nForward-looking statements are provided to assist readers in understanding\nmanagement’s current expectations and plans relating to the future.\nForward-looking statements reflect our current estimates, beliefs and\nassumptions, which are based on management’s perception of historic trends,\ncurrent conditions and expected future developments, as well as other factors\nit believes are appropriate in the circumstances, including certain\nassumptions about: revenue growth and earnings in 2026, 2027 and 2028\n(including customer forecasts, continued strengthening of customer demand,\nclose alignment with key customers on demand planning, sustained improvements\nin demand visibility, multi-year growth and continued strengthening of\nadjusted operating margins); our weighted average number of diluted shares\noutstanding and our adjusted effective tax rate in Q4 2026 and 2027 remaining\ngenerally consistent with current expectations; the amount and timing of our\nworking capital investments; accelerating growth from our customer base,\nincluding our CCS customer base; demand levels across our businesses,\nincluding continued growth in demand from data center customers in 2026, 2027\nand 2028; programs and production ramps, including multiple large new\nprograms, occurring and progressing as anticipated in line with expected\ntimelines, specifications, qualification requirements and production\nschedules, customer decisions, design changes, silicon and component\navailability, qualification outcomes, deployment timelines and priorities,\nconstraints affecting data center development, construction, equipping or\noperation, and other technical, commercial, regulatory or supply-chain\nfactors, and our expected role in such programs, including our 800G and 1.6T\nnetworking, and AI compute programs with data center customers; technology\nupgrade cycles; our ability to retain programs and customers; continuing\noperating leverage and improving mix; the impact of anticipated market\nconditions on our businesses; the reliability of third party market forecasts\nand customer indications of future demands and roadmaps, including with\nrespect to data center infrastructure; continued advancement and\ncommercialization of AI technologies and cloud computing; supporting sustained\nhigh levels of capital expenditure investments by leading hyperscaler, AI, and\ndata center customers; our ability to develop new capabilities; scaling of our\noperations to meet the anticipated growth in customer demand; the successful\nrecruitment and retention of skilled talent; capital investments proceeding as\nanticipated and phased in line with customer deployment schedules, including\ntimely completion of construction and operationalization of assets, securing\nrequired materials, utilities, and equipment for our expansion plans; our\nability to secure adequate component and materials supply; alignment of our\ncapacity with our business demands; the economy; our customers; our suppliers;\ntax and interest rates; no material changes to tariffs, trade restrictions,\ncustoms administration, and any continuing or retaliatory tariff measures,\ncompared to what are in effect as of October 26, 2026; that our customers will\ncontinue to retain liability for and we will continue to be able to recover\nsubstantially all costs from customers relating to product/component tariffs\nand countermeasures; no material changes in business activities resulting from\ncurrent macroeconomic trends and uncertainties, including evolving global\ntariffs, trade negotiations, and geopolitical conflicts; no unforeseen adverse\nchanges in regulatory environmental or government policies (including export\ncontrols, moratoriums and other AI-related measures); our ability to achieve\nour strategic goals; the availability of cash from operations, cash on hand\n(including the net proceeds of our recent public offering) and our credit\nfacilities to fund planned capital investments and working capital\nrequirements without the need for additional capital; the availability of\ncapital resources for, and the permissibility under our credit facility of,\nrepurchases of outstanding common shares under our current NCIB; acceptance of\na new NCIB and compliance with applicable laws and regulations pertaining to\nNCIBs; as well as other market, financial and operational assumptions. Readers\nare cautioned that such information may not be appropriate for other purposes.\nReaders should not place undue reliance on such forward-looking information.\n\nForward-looking statements are not guarantees of future performance and are\nsubject to known and unknown risks and uncertainties that could cause actual\nresults to differ materially from those expressed or implied in such\nforward-looking statements, including, among others, risks related to:\nchanging customer capacity roadmaps for 2026, 2027, 2028 and beyond;\nrealization of the long-term demand outlook; customer and segment\nconcentration; reduction in customer revenue; erosion in customer market\ncompetitiveness; changes in revenue mix and margins; our ability to achieve\nanticipated operating leverage; uncertain market, industry, political and\neconomic conditions; changes in demand for, or regulatory requirements\napplicable to, our products and our customers’ products; customer requests\nto transfer manufacturing of products from one facility to another; changes to\npolicies or legislation; operational challenges (including inventory\nmanagement, supply chain constraints, and components, materials or supply\nshortages); volatility in energy and commodity prices; program ramps not\nprogressing as anticipated; the cyclical nature and/or volatility of certain\nof our businesses; talent management and inefficient employee utilization,\nincluding recruiting, training and retaining sufficient qualified personnel in\nrequired jurisdictions and within required timeframes; our expansion plans or\nconsolidation of our operations; planned capital expenditures to support\nanticipated growth in customer demand, and our ability to achieve anticipated\nreturns on such investments; competition risk from evolving AI technologies,\nincluding lower-cost/open-source AI models; energy, power and water\nconstraints in the data center ecosystem; evolving regulatory and government\npolicies (including export controls, moratoriums and other AI-related\nmeasures) that increase our customers’ costs or restrict their AI\nactivities; cash flow, revenue, and operating results; changes to working\ncapital requirements and liquidity; tax and interest rates variability;\ntechnology and IT disruption; increasing legal, tax and regulatory complexity\nand uncertainty (including in relation to our or our customers' businesses);\nintegrating and achieving the anticipated benefits from acquisitions; and the\npotential adverse impacts of events outside of our control.\n\nFor more exhaustive information on the foregoing and other material risks,\nuncertainties and assumptions, readers should refer to our public filings at\nwww.sedarplus.ca and www.sec.gov, including in our most recent Management's\nDiscussion and Analysis of Financial Condition and Results of Operations,\nAnnual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on\nForm 8-K and other documents filed with, or furnished to, the U.S. Securities\nand Exchange Commission, and the Canadian Securities Administrators, as\napplicable.\n\nForward-looking statements speak only as of the date on which they are made,\nand we disclaim any intention or obligation to update or revise any\nforward-looking statements, whether as a result of new information, future\nevents or otherwise, except as expressly required by applicable law. \n   \nAll forward-looking statements attributable to us are expressly qualified by\nthese cautionary statements.\n\nContacts:\n\n Celestica Global Communications  Celestica Investor Relations  \n (416) 448-2200                   (416) 448-2211                \n media@celestica.com              clsir@celestica.com           \n\nSchedule 1\n\nSupplementary Non-GAAP Financial Measures\n\nThe non-GAAP financial measures included in this press release are: adjusted\ngross profit, adjusted selling, general and administrative expenses (SG&A),\nadjusted operating earnings (or adjusted EBIAT), adjusted net earnings, and\neach of the foregoing measures as a percentage of revenue, adjusted EPS,\nadjusted return on invested capital (ROIC), free cash flow, adjusted tax\nexpense and adjusted effective tax rate.\n\nWe believe the non-GAAP financial measures herein enable investors to evaluate\nand compare our results from operations by excluding specific items that we do\nnot consider to be reflective of our core operations, to evaluate cash\nresources that we generate from our business each period, to analyze operating\nresults using the same measures our chief operating decision maker uses to\nmeasure performance, and to help compare our results with those of our\ncompetitors. In addition, management believes that the use of adjusted tax\nexpense and adjusted effective tax rate provides additional transparency into\nthe tax effects of our core operations, and is useful to management and\ninvestors for historical comparisons and forecasting. These non-GAAP financial\nmeasures reflect management’s belief that the excluded items are not\nindicative of our core operations.\n\nNon-GAAP financial measures do not have any standardized meaning prescribed by\nGAAP and therefore may not be directly comparable to similar measures\npresented by other companies. Non-GAAP financial measures are not measures of\nperformance under GAAP and should not be considered in isolation or as a\nsubstitute for any GAAP financial measure. Reconciliations of the non-GAAP\nfinancial measures to the most directly comparable GAAP financial measures are\nbelow.\n\nWe do not provide reconciliations for our forward-looking non-GAAP financial\nmeasures, as we are unable to reasonably estimate the items that we exclude\nfrom GAAP to calculate comparable non-GAAP measures without unreasonable\neffort. This is due to the inherent difficulty of forecasting the timing or\nfinancial impacts of various events that have not yet occurred, are out of our\ncontrol and/or cannot be reasonably predicted, and that would impact the most\ndirectly comparable forward-looking GAAP financial measure. For these same\nreasons, we are unable to address the probable significance of the unavailable\ninformation. Forward-looking non-GAAP financial measures may vary materially\nfrom the corresponding GAAP financial measures.\n\nOur non-GAAP financial measures are calculated by making the following\nadjustments (as applicable) to our GAAP financial measures:\n\nEmployee SBC expense, which represents the estimated fair value of stock\noptions, restricted share units and performance share units granted to\nemployees, is excluded because grant activities vary significantly from\nquarter-to-quarter in both quantity and fair value. We believe excluding this\nexpense allows us to compare core operating results with those of our\ncompetitors, who also generally exclude employee SBC expense in assessing\noperating performance, and may have different granting patterns, equity awards\nand valuation assumptions.\n\nTotal return swap fair value adjustments (TRS FVAs) represent mark-to-market\nadjustments to our TRS Agreement, as the TRS Agreement is re-measured at fair\nvalue at each quarter end. We exclude the impact of these non-cash fair value\nadjustments (which reflect fluctuations in the market price of our common\nshares recorded in cost of sales and SG&A) from period to period as such\nfluctuations do not represent our ongoing operating performance. In addition,\nwe believe that excluding these non-cash adjustments permits a helpful\ncomparison of our core operating results to our competitors.\n\nAmortization of intangible assets (excluding computer software) consists of\nnon-cash charges for intangible assets that are impacted by the timing and\nmagnitude of acquired businesses. Amortization of intangible assets varies\namong our competitors, and we believe that excluding these charges permits a\nhelpful comparison of core operating results to our competitors who also\ngenerally exclude amortization charges in assessing operating performance.\n\nRestructuring and Other Charges (Recoveries) consist of, when applicable:\nRestructuring Charges (Recoveries) (defined below); Transition Costs\n(Recoveries) (defined below); consulting, transaction and integration costs\nrelated to potential and completed acquisitions; where applicable, certain\nfair value adjustments of contingent consideration in connection with\nacquisitions; where applicable, legal settlements (recoveries); and where\napplicable, related costs pertaining to our transition to a U.S. domestic\nfiler. We exclude these charges and recoveries because we believe that they\nare not directly related to ongoing operating results and do not reflect our\nexpected future operating expenses after completion of the relevant actions.\nOur competitors may record similar items at different times, and we believe\nthese exclusions permit a helpful comparison of our core operating results\nwith those of our competitors who also generally exclude these items in\nassessing operating performance.\n\nRestructuring Charges (Recoveries), consist of costs or recoveries relating\nto: employee severance, site closings and consolidations, accelerated\ndepreciation of owned and leased property and equipment which are no longer\nused and are held for sale, and reductions in infrastructure.\n\nTransition Costs (Recoveries) consist of costs and recoveries in connection\nwith: (i) the transfer of manufacturing lines from closed sites to other sites\nwithin our global network; (ii) the sale of real properties unrelated to\nrestructuring actions; and (iii) where applicable, specified charges or\nrecoveries related to the sublet of a 10-year building lease in Toronto that\nwe previously anticipated to be our corporate headquarters. Transition Costs\nconsist of direct relocation and duplicate costs (such as rent expense,\nutility costs, depreciation charges, and personnel costs) incurred during the\ntransition periods, as well as cease-use and other costs incurred in\nconnection with idle or vacated portions of the relevant premises that we\nwould not have incurred but for these relocations, transfers and dispositions.\nWe believe that excluding Transition Costs and Recoveries permits a helpful\ncomparison of our core operating results from period-to-period, as they do not\nreflect our ongoing operations once these specified events are complete.\n\nMiscellaneous Expense (Income) consists primarily of: (i) certain net periodic\nbenefit costs (gains) related to our pension and post-employment benefit plans\nconsisting of interest costs, expected returns on plan balances, and\namortization of actuarial gains or losses; (ii) where applicable, gains on\ninsurance claims settlement; and (iii) where applicable, gains or losses\nrelated to interest rate swaps that we entered into prior to 2024. Those\ninterest rate swap contracts were accounted for as cash flow hedges\n(qualifying for hedge accounting) under International Financial Reporting\nStandards. However, those contracts were not accounted for as such under GAAP\nuntil January 1, 2024. Certain gains and losses related to those contracts\nwere recorded in Miscellaneous Expense (Income). We exclude such items because\nwe believe they are not directly related to our ongoing operating results.\n\nTax effects of the non-core items, which include our non-GAAP adjustments\nabove, are excluded from GAAP tax expense to calculate adjusted tax expense\n(non-GAAP), as we do not believe these costs or recoveries reflect our core\noperating performance and vary significantly among our competitors who also\ngenerally exclude such items in assessing operating performance.\n\nOur non-GAAP financial measures include the following:\n\nAdjusted operating earnings (Adjusted EBIAT) is defined as GAAP earnings from\noperations excluding the impact of Employee SBC expense, TRS FVAs,\nAmortization of intangible assets (excluding computer software), and\nRestructuring and Other Charges (Recoveries). Adjusted operating margin is\nadjusted operating earnings as a percentage of GAAP revenue. Management uses\nadjusted operating earnings (adjusted EBIAT) as a measure to assess\nperformance related to our core operations.\n\nAdjusted net earnings is defined as GAAP net earnings excluding the impact of\nEmployee SBC expense, TRS FVAs, Amortization of intangible assets (excluding\ncomputer software), Restructuring and Other Charges (Recoveries),\nMiscellaneous Expense (Income) and adjustment for taxes. Adjusted EPS is\ncalculated by dividing adjusted net earnings by the number of diluted weighted\naverage shares outstanding. Management uses adjusted net earnings as a measure\nto assess performance related to our core operations.\n\nFree cash flow is defined as cash provided by (used in) operations less the\npurchase of property, plant and equipment (net of proceeds from the sale of\ncertain surplus assets, when applicable). Free cash flow does not represent\nresidual cash flow available to Celestica for discretionary expenditures.\nManagement uses free cash flow as a measure, in addition to GAAP cash provided\nby (used in) operations, to assess our operational cash flow performance. We\nbelieve free cash flow provides another level of transparency to our ability\nto generate cash from normal business operations.\n\nAdjusted ROIC is calculated by dividing annualized adjusted EBIAT by average\nnet invested capital for the period. Net invested capital (calculated in the\ntables below) is derived from GAAP financial measures, and is defined as total\nassets less: cash, right-of-use (ROU) assets (operating and finance leases),\naccounts payable, accrued and other current liabilities and provisions\n(excluding finance and operating lease liabilities) and income taxes payable.\nManagement uses adjusted ROIC as a measure to assess the effectiveness of the\ninvested capital we employ to build products or provide services to our\ncustomers, by quantifying how well we generate earnings relative to the\ncapital we have invested in our business.\n\nThe determination of the GAAP effective tax rate and adjusted effective tax\nrate (non-GAAP) is described in footnote 1 to the table below.\n\nThe following table (which is unaudited) sets forth, for the periods\nindicated, the various non-GAAP financial measures discussed above, and a\nreconciliation of such non-GAAP financial measures to the most directly\ncomparable financial measures determined under GAAP (in millions, except\npercentages and per share amounts):\n\n                                                                   Three months ended September 30                                                  Nine months ended September 30                                                  \n                                                                        2026                                      2025                                   2026                                       2025                            \n                                                                                      % of revenue                              % of revenue                            % of revenue                              % of revenue      \n GAAP revenue                                                      $    5,829.7                              $    3,194.0                           $    14,575.3                              $    8,736.0                         \n                                                                                                                                                                                                                                    \n GAAP gross profit                                                 $    640.8         11.0     %             $    416.1         13.0     %          $    1,655.5        11.4     %             $    1,061.0       12.1     %        \n Employee SBC expense                                                   10.7                                      6.8                                    33.9                                       24.2                            \n TRS FVAs: losses (gains)                                               0.9                                       (48.5    )                             (40.0     )                                (81.6    )                      \n Adjusted gross profit (non-GAAP)                                  $    652.4         11.2     %             $    374.4         11.7     %          $    1,649.4        11.3     %             $    1,003.6       11.5     %        \n                                                                                                                                                                                                                                    \n GAAP SG&A                                                         $    118.2         2.0      %             $    38.4          1.2      %          $    293.7          2.0      %             $    189.8         2.2      %        \n Employee SBC expense                                                   (10.6    )                                (8.8     )                             (37.2     )                                (32.6    )                      \n TRS FVAs: gains (losses)                                               (3.0     )                                64.8                                   43.2                                       110.0                           \n Adjusted SG&A (non-GAAP)                                          $    104.6         1.8      %             $    94.4          3.0      %          $    299.7          2.1      %             $    267.2         3.1      %        \n                                                                                                                                                                                                                                    \n GAAP earnings from operations                                     $    460.0         7.9      %             $    325.0         10.2     %          $    1,190.4        8.2      %             $    726.3         8.3      %        \n Employee SBC expense                                                   21.3                                      15.6                                   71.1                                       56.8                            \n TRS FVAs: losses (gains)                                               3.9                                       (113.3   )                             (83.2     )                                (191.6   )                      \n Amortization of intangible assets (excluding computer software)        10.0                                      10.0                                   29.9                                       29.9                            \n Restructuring and other charges (recoveries)                           0.9                                       4.9                                    (0.6      )                                23.3                            \n Adjusted operating earnings (adjusted EBIAT) (non-GAAP)           $    496.1         8.5      %             $    242.2         7.6      %          $    1,207.6        8.3      %             $    644.7         7.4      %        \n                                                                                                                                                                                                                                    \n GAAP net earnings                                                 $    397.2         6.8      %             $    267.8         8.4      %          $    978.3          6.7      %             $    565.0         6.5      %        \n Employee SBC expense                                                   21.3                                      15.6                                   71.1                                       56.8                            \n TRS FVAs: losses (gains)                                               3.9                                       (113.3   )                             (83.2     )                                (191.6   )                      \n Amortization of intangible assets (excluding computer software)        10.0                                      10.0                                   29.9                                       29.9                            \n Restructuring and other charges (recoveries)                           0.9                                       4.9                                    (0.6      )                                23.3                            \n Miscellaneous Expense (Income)                                         (0.2     )                                1.3                                    (1.1      )                                4.4                             \n Adjustments for taxes ((1))                                            (31.0    )                                (3.2     )                             (47.4     )                                (3.4     )                      \n Adjusted net earnings (non-GAAP)                                  $    402.1         6.9      %             $    183.1         5.7      %          $    947.0          6.5      %             $    484.4         5.5      %        \n                                                                                                                                                                                                                                    \n Diluted EPS                                                                                                                                                                                                                        \n Weighted average # of shares (in millions)                             121.8                                     115.9                                  117.9                                      116.2                           \n GAAP EPS                                                          $    3.26                                 $    2.31                              $    8.30                                  $    4.86                            \n Adjusted EPS (non-GAAP)                                           $    3.30                                 $    1.58                              $    8.03                                  $    4.17                            \n # of shares outstanding at period end (in millions)                    126.1                                     115.0                                  126.1                                      115.0                           \n                                                                                                                                                                                                                                    \n GAAP cash provided by operations                                  $    389.7                                $    126.2                             $    1,156.9                               $    408.9                           \n Purchase of property, plant and equipment, net of sales proceeds       (262.2   )                                (37.3    )                             (744.4    )                                (106.5   )                      \n Free cash flow (non-GAAP)                                         $    127.5                                $    88.9                              $    412.5                                 $    302.4                           \n                                                                                                                                                                                                                                    \n GAAP ROIC %                                                            60.0     %                                50.4     %                             55.9      %                                39.0     %                      \n Adjusted ROIC % (non-GAAP)                                             64.7     %                                37.5     %                             56.7      %                                34.6     %                      \n\n\n\n (1)  The adjustments for taxes represent the tax effects (reflecting applicable effective tax rates) of the non-core items, which include our non-GAAP adjustments above.                                                                                            \n      Our GAAP effective tax rate is calculated as (i) GAAP tax expense divided by (ii) earnings from operations minus finance costs, net of interest income, and Miscellaneous Expense (Income) recorded on our statements of operations. Our adjusted effective tax \n      rate (non-GAAP) is calculated as (i) adjusted tax expense (non-GAAP) divided by (ii) adjusted operating earnings (non-GAAP) minus finance costs, net of interest income. The following table sets forth, for the periods indicated, our calculation of GAAP     \n      effective tax rate and adjusted effective tax rate (non-GAAP):                                                                                                                                                                                                  \n\n\n\n                                         Three months ended                       Nine months ended                        \n                                         September 30                             September 30                             \n                                              2026                  2025               2026                    2025        \n GAAP tax expense                        $    58.6             $    43.1          $    175.4              $    116.9       \n                                                                                                                           \n Earnings from operations                $    460.0            $    325.0         $    1,190.4            $    726.3       \n Finance costs                                (24.1  )              (13.8  )           (63.3    )              (43.2  )    \n Interest income                              19.7                  1.0                25.5                    3.2         \n Miscellaneous Income (Expense)               0.2                   (1.3   )           1.1                     (4.4   )    \n                                         $    455.8            $    310.9         $    1,153.7            $    681.9       \n                                                                                                                           \n GAAP effective tax rate                      13     %              14     %           15       %              17     %    \n                                                                                                                           \n Adjusted tax expense (non-GAAP)         $    89.6             $    46.3          $    222.8              $    120.3       \n                                                                                                                           \n Adjusted operating earnings (non-GAAP)  $    496.1            $    242.2         $    1,207.6            $    644.7       \n Finance costs                                (24.1  )              (13.8  )           (63.3    )              (43.2  )    \n Interest income                              19.7                  1.0                25.5                    3.2         \n                                         $    491.7            $    229.4         $    1,169.8            $    604.7       \n                                                                                                                           \n Adjusted effective tax rate (non-GAAP)       18     %              20     %           19       %              20     %    \n\n \n\nThe following table sets forth, for the periods indicated, our calculation of\nGAAP ROIC % and adjusted ROIC % (non-GAAP) (in millions, except GAAP ROIC %\nand adjusted ROIC % (non-GAAP)):\n\n                                                          Three months ended                           Nine months ended                          \n                                                          September 30                                 September 30                               \n                                                               2026                    2025                 2026                    2025          \n GAAP earnings from operations                            $    460.0              $    325.0           $    1,190.4            $    726.3         \n Multiplier to annualize earnings                              4                       4                    1.333                   1.333         \n Annualized GAAP earnings from operations                 $    1,840.0            $    1,300.0         $    1,586.8            $    968.2         \n                                                                                                                                                  \n Average net invested capital for the period*             $    3,066.6            $    2,581.6         $    2,839.0            $    2,482.8       \n                                                                                                                                                  \n GAAP ROIC %                                                   60.0     %              50.4     %           55.9     %              39.0     %    \n                                                                                                                                                  \n                                                          Three months ended                           Nine months ended                          \n                                                          September 30                                 September 30                               \n                                                               2026                    2025                 2026                    2025          \n Adjusted operating earnings (adjusted EBIAT) (non-GAAP)  $    496.1              $    242.2           $    1,207.6            $    644.7         \n Multiplier to annualize earnings                              4                       4                    1.333                   1.333         \n Annualized adjusted EBIAT (non-GAAP)                     $    1,984.4            $    968.8           $    1,609.7            $    859.4         \n                                                                                                                                                  \n Average net invested capital for the period*             $    3,066.6            $    2,581.6         $    2,839.0            $    2,482.8       \n                                                                                                                                                  \n Adjusted ROIC % (non-GAAP)                                    64.7     %              37.5     %           56.7     %              34.6     %    \n\n\n\n                                                                                                                                                            September 30 2026       June 30 2026        March 31 2026       December 31 2025      \n Net invested capital consists of:                                                                                                                                                                                                                \n Total assets                                                                                                                                               $          15,138.5     $        9,787.6    $        8,260.0    $          7,213.1    \n Less: cash                                                                                                                                                            3,961.3               535.7               378.0                 595.6      \n Less: ROU assets (operating and finance leases)                                                                                                                       274.5                 218.5               199.9                 173.1      \n Less: accounts payable, accrued and other current liabilities and provisions (excluding finance and operating lease liabilities) and income taxes payable             7,682.3               6,120.7             5,021.7               3,882.0    \n Net invested capital at period end*                                                                                                                        $          3,220.4      $        2,912.7    $        2,660.4    $          2,562.4    \n                                                                                                                                                                                                                                                  \n                                                                                                                                                            September 30 2025       June 30 2025        March 31 2025       December 31 2024      \n Net invested capital consists of:                                                                                                                                                                                                                \n Total assets                                                                                                                                               $          6,606.7      $        6,241.1    $        5,834.9    $          5,988.2    \n Less: cash                                                                                                                                                            305.9                 313.8               303.0                 423.3      \n Less: ROU assets (operating and finance leases)                                                                                                                       178.9                 174.9               178.6                 180.8      \n Less: accounts payable, accrued and other current liabilities and provisions (excluding finance and operating lease liabilities) and income taxes payable             3,445.4               3,265.7             3,000.3               2,969.2    \n Net invested capital at period end*                                                                                                                        $          2,676.5      $        2,486.7    $        2,353.0    $          2,414.9    \n\n\n\n *  We use a two-point average to calculate average net invested capital for the quarter and a four-point average to calculate average net invested capital for the nine-month period. Average net invested capital for Q3 2026 is the average of net invested capital at September 30, 2026 and June 30, 2026 and average net invested capital for the first nine months of 2026 is the average of net invested capital at September 30, 2026, June 30, 2026, March 31, 2026 and December 31, 2025.  \n\n\n\n                                                                                                                                    \n CELESTICA INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in millions of U.S. dollars) (unaudited)                                     \n                                                                                                                                    \n                                                                                      September 30 2026       December 31 2025      \n Assets                                                                                                                             \n Current assets:                                                                                                                    \n Cash and cash equivalents                                                            $          3,961.3      $          595.6      \n Accounts receivable, net                                                                        3,763.1                 2,638.1    \n Inventories                                                                                     4,509.7                 2,188.0    \n Other current assets                                                                            309.6                   251.5      \n Total current assets                                                                            12,543.7                5,673.2    \n Property, plant and equipment, net                                                              1,403.3                 586.0      \n Operating lease right-of-use assets                                                             194.7                   124.1      \n Goodwill                                                                                        333.3                   333.1      \n Intangible assets, net                                                                          234.2                   266.2      \n Deferred income taxes                                                                           232.5                   156.4      \n Other non-current assets                                                                        196.8                   74.1       \n Total assets                                                                         $          15,138.5     $          7,213.1    \n                                                                                                                                    \n Liabilities and Equity                                                                                                             \n Current liabilities:                                                                                                               \n Current portion of borrowings under credit facility and finance lease obligations    $          27.3         $          26.0       \n Accounts payable                                                                                5,040.6                 1,866.1    \n Accrued and other current liabilities and provisions                                            2,559.1                 1,896.8    \n Income taxes payable                                                                            142.8                   150.7      \n Total current liabilities                                                                       7,769.8                 3,939.6    \n Long-term portion of borrowings under credit facility and finance lease obligations             791.5                   750.5      \n Pension and non-pension post-employment benefit obligations                                     90.8                    89.5       \n Other non-current liabilities and provisions                                                    232.5                   176.0      \n Deferred income taxes                                                                           39.9                    41.2       \n Total liabilities                                                                               8,924.5                 4,996.8    \n Equity:                                                                                                                            \n Total equity                                                                                    6,214.0                 2,216.3    \n Total liabilities and equity                                                         $          15,138.5     $          7,213.1    \n\n\n\n                                                                                                                                                                      \n CELESTICA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in millions of U.S. dollars, except per share amounts) (unaudited)                                   \n                                                                                                                                                                      \n                                                                             Three months ended                           Nine months ended                           \n                                                                             September 30                                 September 30                                \n                                                                                  2026                    2025                 2026                     2025          \n                                                                                                                                                                      \n Revenue                                                                     $    5,829.7            $    3,194.0         $    14,575.3            $    8,736.0       \n Cost of sales                                                                    5,188.9                 2,777.9              12,919.8                 7,675.0       \n Gross profit                                                                     640.8                   416.1                1,655.5                  1,061.0       \n Selling, general and administrative expenses                                     118.2                   38.4                 293.7                    189.8         \n Research and development                                                         51.2                    36.4                 138.7                    88.0          \n Amortization of intangible assets                                                10.5                    11.4                 33.3                     33.6          \n Restructuring and other charges (recoveries)                                     0.9                     4.9                  (0.6      )              23.3          \n Earnings from operations                                                         460.0                   325.0                1,190.4                  726.3         \n Finance costs                                                                    24.1                    13.8                 63.3                     43.2          \n Interest income                                                                  (19.7    )              (1.0     )           (25.5     )              (3.2     )    \n Miscellaneous expense (income)                                                   (0.2     )              1.3                  (1.1      )              4.4           \n Earnings before income taxes                                                     455.8                   310.9                1,153.7                  681.9         \n Income tax expense (recovery)                                                                                                                                        \n Current                                                                          84.8                    44.2                 250.2                    133.0         \n Deferred                                                                         (26.2    )              (1.1     )           (74.8     )              (16.1    )    \n                                                                                  58.6                    43.1                 175.4                    116.9         \n Net earnings                                                                $    397.2              $    267.8           $    978.3               $    565.0         \n                                                                                                                                                                      \n Earnings per share:                                                                                                                                                  \n Basic                                                                       $    3.30               $    2.33            $    8.38                $    4.90          \n Diluted                                                                     $    3.26               $    2.31            $    8.30                $    4.86          \n                                                                                                                                                                      \n Weighted-average shares used in computing per share amounts (in millions):                                                                                           \n Basic                                                                            120.5                   115.0                116.8                    115.4         \n Diluted                                                                          121.8                   115.9                117.9                    116.2         \n\n\n\n                                                                                                                                                                                                                                              \n CELESTICA INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions of U.S. dollars) (unaudited)                                                                                                                                     \n                                                                                                                                                                                                                                              \n                                                                                               Three months ended                                                                                  Nine months ended                          \n                                                                                               September 30                                                                                        September 30                               \n Cash provided by (used in):                                                                                            2026                                                        2025                2026                     2025         \n Operating activities:                                                                                                                                                                                                                        \n Net earnings                                                                                  $                        397.2                                                  $    267.8          $    978.3               $    565.0        \n Adjustments to reconcile net earnings to net cash flows provided by operating activities:                                                                                                                                                    \n Depreciation and amortization                                                                                          48.5                                                        40.3                132.1                    123.0        \n Stock-based compensation (SBC)                                                                                         21.3                                                        15.6                71.1                     56.8         \n Total return swap (TRS) fair value adjustments                                                                         3.9                                                         (113.3  )           (83.2     )              (191.6  )    \n Restructuring and other charges (recoveries)                                                                           —                                                           2.5                 (10.0     )              2.9          \n Unrealized losses on hedge derivatives                                                                                 —                                                           1.1                 —                        3.7          \n Deferred income taxes                                                                                                  (26.2                    )                                  (1.1    )           (74.8     )              (16.1   )    \n Other                                                                                                                  7.0                                                         5.7                 9.8                      24.1         \n Changes in non-cash working capital items:                                                                                                                                                                                                   \n Accounts receivable                                                                                                    (424.9                   )                                  (151.5  )           (1,125.0  )              (370.3  )    \n Inventories                                                                                                            (1,108.0                 )                                  (128.6  )           (2,321.7  )              (286.1  )    \n Other current assets                                                                                                   (22.9                    )                                  (0.9    )           (10.2     )              (7.3    )    \n Accounts payable, accrued and other current liabilities, provisions and income taxes payable                           1,493.8                                                     188.6               3,590.5                  504.8        \n Net cash provided by operating activities                                                                              389.7                                                       126.2               1,156.9                  408.9        \n                                                                                                                                                                                                                                              \n Investing activities:                                                                                                                                                                                                                        \n Purchase of property, plant and equipment                                                                              (274.1                   )                                  (37.3   )           (767.4    )              (106.5  )    \n Proceeds from sale of assets                                                                                           11.9                                                        —                   23.0                     —            \n Other                                                                                                                  —                                                           —                   (2.5      )              (2.5    )    \n Net cash used in investing activities                                                                                  (262.2                   )                                  (37.3   )           (746.9    )              (109.0  )    \n                                                                                                                                                                                                                                              \n Financing activities:                                                                                                                                                                                                                        \n Borrowings under revolving loans                                                                                       210.0                                                       —                   810.0                    500.0        \n Repayments under revolving loans                                                                                       (210.0                   )                                  (90.0   )           (810.0    )              (500.0  )    \n Borrowings under term loans                                                                                            —                                                           —                   250.0                    —            \n Repayments under term loans                                                                                            (4.4                     )                                  (4.4    )           (238.1    )              (13.1   )    \n Principal payments of finance leases                                                                                   (2.3                     )                                  (2.4    )           (7.3      )              (7.6    )    \n Proceeds from issuance of capital stock under SBC plans                                                                —                                                           —                   —                        0.3          \n Proceeds from issuance of capital stock under public offering, net of issuance costs                                   3,391.3                                                     —                   3,391.3                  —            \n Repurchase of capital stock for cancellation                                                                           —                                                           —                   (22.6     )              (117.7  )    \n Purchase of treasury stock for SBC plans                                                                               (37.6                    )                                  —                   (37.6     )              (221.6  )    \n Proceeds from TRS settlement                                                                                           —                                                           —                   —                        98.6         \n SBC cash settlement                                                                                                    (47.3                    )                                  —                   (373.6    )              (156.0  )    \n Debt issuance costs paid                                                                                               (1.6                     )                                  —                   (6.4      )              (0.2    )    \n Net cash provided by (used in) financing activities                                                                    3,298.1                                                     (96.8   )           2,955.7                  (417.3  )    \n                                                                                                                                                                                                                                              \n Net increase (decrease) in cash and cash equivalents                                                                   3,425.6                                                     (7.9    )           3,365.7                  (117.4  )    \n Cash and cash equivalents, beginning of period                                                                         535.7                                                       313.8               595.6                    423.3        \n Cash and cash equivalents, end of period                                                      $                        3,961.3                                                $    305.9          $    3,961.3             $    305.9        \n                                                                                                                                                                                                                                              \n Supplemental disclosure information:                                                                                                                                                                                                         \n Interest paid                                                                                 $                        17.9                                                   $    13.4           $    57.2                $    40.7         \n Net income taxes paid                                                                         $                        138.9                                                  $    45.7           $    284.4               $    101.9        \n Non-cash investing activity:                                                                                                                                                                                                                 \n Unpaid purchases of property, plant and equipment at end of period                            $                        238.3                                                  $    24.4           $    238.3               $    24.4         \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/04eff7de-9506-43da-b145-51ad85b6ec99)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNXf86tQ-20261026","title":"Celestica Announces Third Quarter 2026 Financial Results and Will Hold 2026 Investor and Analyst Day","author":"Globe Newswire","ticker":"CLS","created":"2026-10-26T20:17:00.600Z","tickers":["CLS"],"exchange":"NYSE","article_body":"Q3 2026 revenue and non-GAAP adjusted EPS* above the high end of our guidance\nranges;\n2027 outlook reflects accelerating revenue growth & non-GAAP adjusted\noperating margin* expansion\n\n(All amounts in U.S. dollars)\n\nTORONTO, Oct. 26, 2026 (GLOBE NEWSWIRE) -- Celestica Inc.(1) (NYSE: CLS) (TSX:\nCLS), a global leader in data center infrastructure and advanced technology\nsolutions, today announced its financial results for the third quarter ended\nSeptember 30, 2026 (Q3 2026).\n\nQ3 2026 Highlights\n* Revenue: $5.83 billion, increased 83% compared to $3.19 billion for the\nthird quarter of 2025 (Q3 2025).\n* GAAP earnings from operations as a % of revenue: 7.9%, compared to 10.2% for\nQ3 2025.\n* Adjusted operating margin (non-GAAP)*: 8.5%, compared to 7.6% for Q3 2025.\n* GAAP earnings per share(2) (EPS): $3.26, compared to $2.31 for Q3 2025.\n* Adjusted EPS(2) (non-GAAP)*: $3.30, compared to $1.58 for Q3 2025.\n* Completed the previously announced public offering for aggregate gross\nproceeds of $3.45 billion.\n“Celestica’s strong momentum continued in the third quarter, achieving\nrevenue of $5.83 billion and adjusted EPS (non-GAAP)* of $3.30, up 83% and\n109%, respectively,” said Rob Mionis, Chair of the Board and CEO of\nCelestica. “Our adjusted operating margin (non-GAAP)* of 8.5% represents\nanother new high for the company, demonstrating the strength of our\noperational execution.”\n\n“Driven by these strong results to date and a demand environment that\ncontinues to strengthen, we are pleased to increase our 2026 annual outlook.\nWe now expect revenue to reach $21.0 billion and adjusted EPS (non-GAAP)* of\n$11.55, representing growth of 69% and 91%, respectively.”\n\n“We are also pleased to provide our initial 2027 annual outlook, with\nrevenue of $40.0 billion, up 90%, record adjusted operating margin (non-GAAP)*\nof 9.0% and adjusted EPS (non-GAAP)* of $21.50.”\n\n“Celestica is well-positioned to continue to support leading hyperscalers\nand frontier AI labs through the ongoing AI infrastructure supercycle. The\ndemand environment continues to be very robust, supporting our 2027 revenue\noutlook, with customer demand forecasts meaningfully higher for 2028.”\n\n(1 )Celestica has two operating and reportable segments: Connectivity & Cloud\nSolutions (CCS) and Advanced Technology Solutions (ATS). Effective Q3 2026, we\nrenamed the two end markets within our CCS segment to better describe the\nnature of the products delivered in each end market. Specifically, our\nCommunications end market was renamed Networking, and our Enterprise end\nmarket was renamed Compute & Storage. This name change does not impact our\nsegment reporting structure, the composition of our reportable segments, or\npreviously reported financial results for our segments and end markets. Our\nCompute & Storage end market continues to consist of Servers and Storage\nbusinesses. Our ATS segment consists of our ATS end market, and is comprised\nof our Aerospace and Defense, Industrial, HealthTech, and Capital Equipment\nbusinesses.\nSegment performance is evaluated based on segment revenue, segment income, and\nsegment margin (segment income as a percentage of segment revenue). See note 3\nto our September 30, 2026 unaudited interim condensed consolidated financial\nstatements (Q3 2026 Interim Financial Statements) for further detail.\n(2) Per share information included in this press release is based on diluted\nshares outstanding unless otherwise noted.\n* See Use of Non-GAAP Measures and Schedule 1 for, among other items, non-GAAP\nfinancial measures (and ratios) included in this press release, their\ndefinitions, uses, and a reconciliation of non-GAAP financial measures to the\nmost directly comparable GAAP financial measures. Non-GAAP measures in this\npress release are denoted with an asterisk (*).\n\nFourth Quarter of 2026 (Q4 2026) Guidance\n\n                                        Q4 2026 Guidance                                                                  \n Revenue (in billions)                  $6.275 to $6.575                                                                  \n Adjusted operating margin (non-GAAP)*  8.7% at the mid-point of our revenue and adjusted EPS (non-GAAP) guidance ranges  \n Adjusted EPS (non-GAAP)* ((1))         $3.37 to $3.57                                                                    \n\n\n\n ((1))  Q4 2026 guidance excludes a negative $0.21 to $0.27 per share (pre-tax) aggregate impact on net earnings on a GAAP basis for employee stock-based compensation (SBC) expense, amortization of intangible assets (excluding computer software), and restructuring charges. Q4 2026 guidance assumes an adjusted effective tax rate (non-GAAP)* of approximately 20%.  \n\n2026 Annual Outlook Update\n* Revenue of $21.0 billion (previous outlook $20.5 billion) ((1))\n* Adjusted EPS (non-GAAP)* of $11.55 (previous outlook $11.30) ((1))\n* Free cash flow (non-GAAP)* of $460 million (previous outlook $600 million)\n((2))\nOur previous adjusted operating margin (non-GAAP)* outlook of 8.4% remains\nunchanged.\n\n ((1))  The change of our 2026 annual outlook for revenue and adjusted EPS (non-GAAP)* is driven by our strong results in Q3 2026, as well as expected demand improvements for Q4 2026.  \n ((2))  The change of our 2026 annual outlook for free cash flow (non-GAAP)* is primarily driven by targeted working capital investments to support the accelerating growth in 2027.     \n\n2027 Annual Outlook and Long-Term Demand Update\n* Revenue of $40.0 billion\n* Adjusted EPS (non-GAAP)* of $21.50 ((1))\n* Adjusted operating margin (non-GAAP)* of 9.0%\n* Capital expenditures of between $1.5 billion and $2.0 billion\n ((1))  2027 guidance assumes an adjusted effective tax rate (non-GAAP)* of approximately 21%.  \n\nOur 2027 outlook anticipates acceleration in our revenue growth to 90%. We\ncontinue to pursue investment plans in support of anticipated multi-year\ngrowth, supported by 2028 customer demand forecasts that are meaningfully\nhigher than our 2027 revenue outlook.\n\n* See Use of Non-GAAP Measures and Schedule 1. For our Q4 2026 Guidance, 2026\nAnnual Outlook Update, and 2027 Annual Outlook and Long-Term Demand Update, we\npresent certain forward-looking non-GAAP metrics. A reconciliation of such\nforward-looking non-GAAP measures to the most directly comparable GAAP\nmeasures on a forward-looking basis has not been provided because the items\nthat we exclude from GAAP to calculate the comparable non-GAAP measure are\ndependent on future events that management is not able to reliably predict and\nare not part of our routine operating activities. We are unable to provide\nsuch a reconciliation without unreasonable effort due to the uncertainty and\ninherent difficulty in predicting the occurrence, the financial impact and the\nperiods in which the adjustments may be recognized. The occurrence, timing and\namount of any of the items excluded from GAAP to calculate non-GAAP could\nsignificantly impact our GAAP results.\n\nSummary of Selected Q3 2026 Results\n\n                                                  Q3 2026 Actual         Q3 2026 Guidance ((2))                                                            \n Revenue (in billions)                            $5.83                  $5.25 to $5.55                                                                    \n GAAP earnings from operations as a % of revenue         7.9%            N/A                                                                               \n GAAP EPS ((1))                                   $3.26                  N/A                                                                               \n Adjusted operating margin (non-GAAP)*                   8.5%            8.4% at the mid-point of our revenue and adjusted EPS (non-GAAP) guidance ranges  \n Adjusted EPS (non-GAAP)*                         $3.30                  $2.88 to $3.08                                                                    \n\nCCS segment revenue: $4.87 billion, increased 102% compared to Q3 2025; CCS\nsegment margin: 8.9% compared to 8.3% for Q3 2025. Hardware Platform Solutions\nrevenue of approximately $2.3 billion increased 70% compared to Q3 2025.\n\nATS segment revenue: $0.96 billion, increased 23% compared to Q3 2025; ATS\nsegment margin: 6.6% compared to 5.5% for Q3 2025.\n\n ((1))  GAAP EPS of $3.26 for Q3 2026 included an aggregate charge of $0.26 per share (pre-tax) for employee SBC expense, amortization of intangible assets (excluding computer software), and restructuring charges (Q3 2025 — $0.25 per share (pre-tax)). See the     \n        tables in Schedule 1 and note 11 to the Q3 2026 Interim Financial Statements for per-item charges. This aggregate charge was below our previously communicated Q3 2026 anticipated range of $0.27 to $0.33 per share (pre-tax) for these items, primarily due to \n        the increase in our weighted average number of shares outstanding resulting from our public offering of an aggregate of 11.1 million common shares completed on August 7, 2026.                                                                                 \n        GAAP EPS included pre-tax impacts from our total return swap agreement of negative $0.03 and positive $0.71 per share for Q3 2026 and the first nine months of 2026, respectively. This compares to positive pre-tax impacts of $0.98 and $1.65 per share for Q3 \n        2025 and the first nine months of 2025, respectively. See note 9 to our Q3 2026 Interim Financial Statements.                                                                                                                                                   \n ((2))  For Q3 2026, our revenue exceeded the high end of our guidance range due to higher than anticipated customer demand and strong operational execution. Stronger than anticipated operating leverage drove our adjusted operating margin (non-GAAP) to exceed the \n        mid-point of our revenue and adjusted EPS (non-GAAP) guidance ranges, which, combined with the higher revenue, drove our adjusted EPS (non-GAAP) to exceed the high end of our guidance range. Our GAAP effective tax rate for Q3 2026 was 13%. Our adjusted    \n        effective tax rate (non-GAAP) for Q3 2026 was 18%, lower than our anticipated estimate of approximately 20%, primarily due to favorable profit mix and a discrete tax benefit.                                                                                  \n\nIntention to Launch a New Normal Course Issuer Bid (NCIB)\n\nWe intend to file a notice of intention with the Toronto Stock Exchange (TSX)\nto commence a new NCIB in Q4 2026, after our current NCIB expires on November\n2, 2026. If this notice is accepted by the TSX, we expect to be permitted to\nrepurchase for cancellation, at our discretion during the twelve months\nfollowing such acceptance, up to 2.5% of the “public float” (calculated in\naccordance with TSX rules) of our issued and outstanding common shares.\nPurchases under the new NCIB, if accepted by the TSX, will be conducted in the\nopen market or as otherwise permitted, subject to applicable terms and\nlimitations, and will be made through the facilities of the TSX and the New\nYork Stock Exchange. We believe that a new NCIB is in the best interests of\nCelestica and our shareholders.\n\nQ3 2026 Financial Results Conference Call and 2026 Investor and Analyst Day\n\nManagement will host its Q3 2026 financial results conference call and 2026\nInvestor and Analyst Day on October 27, 2026. The conference call start time\nis 8:00 a.m. Eastern Time (ET). The webcast can be accessed at\nwww.celestica.com.\n\nUse of Non-GAAP Measures\n\nIn addition to disclosing detailed operating results in accordance with GAAP,\nCelestica provides supplementary non-GAAP financial measures to consider in\nevaluating our operating performance. Management uses adjusted net earnings\nand other non-GAAP financial measures to assess operating performance,\nfinancial leverage and the effective use and allocation of resources; to\nprovide more normalized period-to-period comparisons of operating results; to\nenhance investors’ understanding of the core operating results of\nCelestica’s business; and to set management incentive targets. We believe\ninvestors use both GAAP and non-GAAP financial measures to assess management's\ndecisions associated with our priorities and capital allocation, as well as to\nanalyze how our business operates in, or responds to, macroeconomic trends or\nother events that impact our core operations. See Schedule 1 below.\n\nAbout Celestica\n\nCelestica is a technology leader dedicated to driving customer success and\nmarket advancements. With deep expertise in design, engineering,\nmanufacturing, supply chain, and platform solutions, Celestica enables\ncritical data center infrastructure for AI, cloud and hybrid cloud, and\nadvances technologies in high-growth markets. With a talented team and a\nstrategic global network, Celestica helps its customers achieve competitive\nadvantages. For more information on Celestica, visit www.celestica.com. Our\nsecurities filings can be accessed at www.sedarplus.ca and www.sec.gov.\n\nThe information contained on or accessible through www.celestica.com is not\nincorporated by reference into, and does not form part of, this release.\n\nCautionary Note Regarding Forward-looking Statements\n\nThis press release contains forward-looking statements, including, without\nlimitation, those related to: strengthening demand environment of our\nbusinesses, customer forecasts, accelerating revenue growth, our anticipated\nfinancial and/or operational results, guidance and outlook, including\nstatements under the headings “Q3 2026 Highlights”, \"Fourth Quarter of\n2026 (Q4 2026) Guidance”, “2026 Annual Outlook Update”, “2027 Annual\nOutlook and Long-Term Demand Update” and “Intention to Launch a New Normal\nCourse Issuer Bid (NCIB)”, and including statements with respect to\ntimelines referenced therein, expected revenue growth in 2026, 2027, and 2028,\nanticipated multi-year growth, 2027 and 2028 customer demand forecasts,\nnon-GAAP operating margin and non-GAAP adjusted EPS, anticipated operating\nleverage, anticipated capital expenditures, expected working capital\ninvestment, cash usage and free cash flow, the sufficiency of our liquidity,\nROIC, our growth plans and anticipated capacity requirements for 2027 and\n2028, the anticipated use of the net proceeds of our recent public offering,\nour intention to launch a new NCIB and its anticipated terms, developments\nrelated to new customer or program wins and pursuits (including in data center\npower infrastructure), timing of production ramps, anticipated economic\nconditions, industry and market trends and projections, underlying market\ngrowth rates, customer demand, prospects and opportunities, and strategic\ninitiatives. Such forward-looking statements may, without limitation, be\npreceded by, followed by, or include words such as “believes,”\n“expects,” “anticipates,” “estimates,” “intends,” “plans,”\n“continues,” “projects,” \"target,\" \"outlook,\" \"goal,\" \"guidance,\"\n“potential,” “possible,” “contemplate,” “seek,” “demand\nforecasts,” or similar expressions, or may employ such future or conditional\nverbs as “may,” “might,” “will,” “could,” “should,” or\n“would,” or may otherwise be indicated as forward-looking statements by\ngrammatical construction, phrasing or context. For those statements, we claim\nthe protection of the safe harbor for forward-looking statements contained in\nthe U.S. Private Securities Litigation Reform Act of 1995, where applicable,\nand for forward-looking information under applicable Canadian securities laws.\n\nForward-looking statements are provided to assist readers in understanding\nmanagement’s current expectations and plans relating to the future.\nForward-looking statements reflect our current estimates, beliefs and\nassumptions, which are based on management’s perception of historic trends,\ncurrent conditions and expected future developments, as well as other factors\nit believes are appropriate in the circumstances, including certain\nassumptions about: revenue growth and earnings in 2026, 2027 and 2028\n(including customer forecasts, continued strengthening of customer demand,\nclose alignment with key customers on demand planning, sustained improvements\nin demand visibility, multi-year growth and continued strengthening of\nadjusted operating margins); our weighted average number of diluted shares\noutstanding and our adjusted effective tax rate in Q4 2026 and 2027 remaining\ngenerally consistent with current expectations; the amount and timing of our\nworking capital investments; accelerating growth from our customer base,\nincluding our CCS customer base; demand levels across our businesses,\nincluding continued growth in demand from data center customers in 2026, 2027\nand 2028; programs and production ramps, including multiple large new\nprograms, occurring and progressing as anticipated in line with expected\ntimelines, specifications, qualification requirements and production\nschedules, customer decisions, design changes, silicon and component\navailability, qualification outcomes, deployment timelines and priorities,\nconstraints affecting data center development, construction, equipping or\noperation, and other technical, commercial, regulatory or supply-chain\nfactors, and our expected role in such programs, including our 800G and 1.6T\nnetworking, and AI compute programs with data center customers; technology\nupgrade cycles; our ability to retain programs and customers; continuing\noperating leverage and improving mix; the impact of anticipated market\nconditions on our businesses; the reliability of third party market forecasts\nand customer indications of future demands and roadmaps, including with\nrespect to data center infrastructure; continued advancement and\ncommercialization of AI technologies and cloud computing; supporting sustained\nhigh levels of capital expenditure investments by leading hyperscaler, AI, and\ndata center customers; our ability to develop new capabilities; scaling of our\noperations to meet the anticipated growth in customer demand; the successful\nrecruitment and retention of skilled talent; capital investments proceeding as\nanticipated and phased in line with customer deployment schedules, including\ntimely completion of construction and operationalization of assets, securing\nrequired materials, utilities, and equipment for our expansion plans; our\nability to secure adequate component and materials supply; alignment of our\ncapacity with our business demands; the economy; our customers; our suppliers;\ntax and interest rates; no material changes to tariffs, trade restrictions,\ncustoms administration, and any continuing or retaliatory tariff measures,\ncompared to what are in effect as of October 26, 2026; that our customers will\ncontinue to retain liability for and we will continue to be able to recover\nsubstantially all costs from customers relating to product/component tariffs\nand countermeasures; no material changes in business activities resulting from\ncurrent macroeconomic trends and uncertainties, including evolving global\ntariffs, trade negotiations, and geopolitical conflicts; no unforeseen adverse\nchanges in regulatory environmental or government policies (including export\ncontrols, moratoriums and other AI-related measures); our ability to achieve\nour strategic goals; the availability of cash from operations, cash on hand\n(including the net proceeds of our recent public offering) and our credit\nfacilities to fund planned capital investments and working capital\nrequirements without the need for additional capital; the availability of\ncapital resources for, and the permissibility under our credit facility of,\nrepurchases of outstanding common shares under our current NCIB; acceptance of\na new NCIB and compliance with applicable laws and regulations pertaining to\nNCIBs; as well as other market, financial and operational assumptions. Readers\nare cautioned that such information may not be appropriate for other purposes.\nReaders should not place undue reliance on such forward-looking information.\n\nForward-looking statements are not guarantees of future performance and are\nsubject to known and unknown risks and uncertainties that could cause actual\nresults to differ materially from those expressed or implied in such\nforward-looking statements, including, among others, risks related to:\nchanging customer capacity roadmaps for 2026, 2027, 2028 and beyond;\nrealization of the long-term demand outlook; customer and segment\nconcentration; reduction in customer revenue; erosion in customer market\ncompetitiveness; changes in revenue mix and margins; our ability to achieve\nanticipated operating leverage; uncertain market, industry, political and\neconomic conditions; changes in demand for, or regulatory requirements\napplicable to, our products and our customers’ products; customer requests\nto transfer manufacturing of products from one facility to another; changes to\npolicies or legislation; operational challenges (including inventory\nmanagement, supply chain constraints, and components, materials or supply\nshortages); volatility in energy and commodity prices; program ramps not\nprogressing as anticipated; the cyclical nature and/or volatility of certain\nof our businesses; talent management and inefficient employee utilization,\nincluding recruiting, training and retaining sufficient qualified personnel in\nrequired jurisdictions and within required timeframes; our expansion plans or\nconsolidation of our operations; planned capital expenditures to support\nanticipated growth in customer demand, and our ability to achieve anticipated\nreturns on such investments; competition risk from evolving AI technologies,\nincluding lower-cost/open-source AI models; energy, power and water\nconstraints in the data center ecosystem; evolving regulatory and government\npolicies (including export controls, moratoriums and other AI-related\nmeasures) that increase our customers’ costs or restrict their AI\nactivities; cash flow, revenue, and operating results; changes to working\ncapital requirements and liquidity; tax and interest rates variability;\ntechnology and IT disruption; increasing legal, tax and regulatory complexity\nand uncertainty (including in relation to our or our customers' businesses);\nintegrating and achieving the anticipated benefits from acquisitions; and the\npotential adverse impacts of events outside of our control.\n\nFor more exhaustive information on the foregoing and other material risks,\nuncertainties and assumptions, readers should refer to our public filings at\nwww.sedarplus.ca and www.sec.gov, including in our most recent Management's\nDiscussion and Analysis of Financial Condition and Results of Operations,\nAnnual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on\nForm 8-K and other documents filed with, or furnished to, the U.S. Securities\nand Exchange Commission, and the Canadian Securities Administrators, as\napplicable.\n\nForward-looking statements speak only as of the date on which they are made,\nand we disclaim any intention or obligation to update or revise any\nforward-looking statements, whether as a result of new information, future\nevents or otherwise, except as expressly required by applicable law. \n   \nAll forward-looking statements attributable to us are expressly qualified by\nthese cautionary statements.\n\nContacts:\n\n Celestica Global Communications  Celestica Investor Relations  \n (416) 448-2200                   (416) 448-2211                \n media@celestica.com              clsir@celestica.com           \n\nSchedule 1\n\nSupplementary Non-GAAP Financial Measures\n\nThe non-GAAP financial measures included in this press release are: adjusted\ngross profit, adjusted selling, general and administrative expenses (SG&A),\nadjusted operating earnings (or adjusted EBIAT), adjusted net earnings, and\neach of the foregoing measures as a percentage of revenue, adjusted EPS,\nadjusted return on invested capital (ROIC), free cash flow, adjusted tax\nexpense and adjusted effective tax rate.\n\nWe believe the non-GAAP financial measures herein enable investors to evaluate\nand compare our results from operations by excluding specific items that we do\nnot consider to be reflective of our core operations, to evaluate cash\nresources that we generate from our business each period, to analyze operating\nresults using the same measures our chief operating decision maker uses to\nmeasure performance, and to help compare our results with those of our\ncompetitors. In addition, management believes that the use of adjusted tax\nexpense and adjusted effective tax rate provides additional transparency into\nthe tax effects of our core operations, and is useful to management and\ninvestors for historical comparisons and forecasting. These non-GAAP financial\nmeasures reflect management’s belief that the excluded items are not\nindicative of our core operations.\n\nNon-GAAP financial measures do not have any standardized meaning prescribed by\nGAAP and therefore may not be directly comparable to similar measures\npresented by other companies. Non-GAAP financial measures are not measures of\nperformance under GAAP and should not be considered in isolation or as a\nsubstitute for any GAAP financial measure. Reconciliations of the non-GAAP\nfinancial measures to the most directly comparable GAAP financial measures are\nbelow.\n\nWe do not provide reconciliations for our forward-looking non-GAAP financial\nmeasures, as we are unable to reasonably estimate the items that we exclude\nfrom GAAP to calculate comparable non-GAAP measures without unreasonable\neffort. This is due to the inherent difficulty of forecasting the timing or\nfinancial impacts of various events that have not yet occurred, are out of our\ncontrol and/or cannot be reasonably predicted, and that would impact the most\ndirectly comparable forward-looking GAAP financial measure. For these same\nreasons, we are unable to address the probable significance of the unavailable\ninformation. Forward-looking non-GAAP financial measures may vary materially\nfrom the corresponding GAAP financial measures.\n\nOur non-GAAP financial measures are calculated by making the following\nadjustments (as applicable) to our GAAP financial measures:\n\nEmployee SBC expense, which represents the estimated fair value of stock\noptions, restricted share units and performance share units granted to\nemployees, is excluded because grant activities vary significantly from\nquarter-to-quarter in both quantity and fair value. We believe excluding this\nexpense allows us to compare core operating results with those of our\ncompetitors, who also generally exclude employee SBC expense in assessing\noperating performance, and may have different granting patterns, equity awards\nand valuation assumptions.\n\nTotal return swap fair value adjustments (TRS FVAs) represent mark-to-market\nadjustments to our TRS Agreement, as the TRS Agreement is re-measured at fair\nvalue at each quarter end. We exclude the impact of these non-cash fair value\nadjustments (which reflect fluctuations in the market price of our common\nshares recorded in cost of sales and SG&A) from period to period as such\nfluctuations do not represent our ongoing operating performance. In addition,\nwe believe that excluding these non-cash adjustments permits a helpful\ncomparison of our core operating results to our competitors.\n\nAmortization of intangible assets (excluding computer software) consists of\nnon-cash charges for intangible assets that are impacted by the timing and\nmagnitude of acquired businesses. Amortization of intangible assets varies\namong our competitors, and we believe that excluding these charges permits a\nhelpful comparison of core operating results to our competitors who also\ngenerally exclude amortization charges in assessing operating performance.\n\nRestructuring and Other Charges (Recoveries) consist of, when applicable:\nRestructuring Charges (Recoveries) (defined below); Transition Costs\n(Recoveries) (defined below); consulting, transaction and integration costs\nrelated to potential and completed acquisitions; where applicable, certain\nfair value adjustments of contingent consideration in connection with\nacquisitions; where applicable, legal settlements (recoveries); and where\napplicable, related costs pertaining to our transition to a U.S. domestic\nfiler. We exclude these charges and recoveries because we believe that they\nare not directly related to ongoing operating results and do not reflect our\nexpected future operating expenses after completion of the relevant actions.\nOur competitors may record similar items at different times, and we believe\nthese exclusions permit a helpful comparison of our core operating results\nwith those of our competitors who also generally exclude these items in\nassessing operating performance.\n\nRestructuring Charges (Recoveries), consist of costs or recoveries relating\nto: employee severance, site closings and consolidations, accelerated\ndepreciation of owned and leased property and equipment which are no longer\nused and are held for sale, and reductions in infrastructure.\n\nTransition Costs (Recoveries) consist of costs and recoveries in connection\nwith: (i) the transfer of manufacturing lines from closed sites to other sites\nwithin our global network; (ii) the sale of real properties unrelated to\nrestructuring actions; and (iii) where applicable, specified charges or\nrecoveries related to the sublet of a 10-year building lease in Toronto that\nwe previously anticipated to be our corporate headquarters. Transition Costs\nconsist of direct relocation and duplicate costs (such as rent expense,\nutility costs, depreciation charges, and personnel costs) incurred during the\ntransition periods, as well as cease-use and other costs incurred in\nconnection with idle or vacated portions of the relevant premises that we\nwould not have incurred but for these relocations, transfers and dispositions.\nWe believe that excluding Transition Costs and Recoveries permits a helpful\ncomparison of our core operating results from period-to-period, as they do not\nreflect our ongoing operations once these specified events are complete.\n\nMiscellaneous Expense (Income) consists primarily of: (i) certain net periodic\nbenefit costs (gains) related to our pension and post-employment benefit plans\nconsisting of interest costs, expected returns on plan balances, and\namortization of actuarial gains or losses; (ii) where applicable, gains on\ninsurance claims settlement; and (iii) where applicable, gains or losses\nrelated to interest rate swaps that we entered into prior to 2024. Those\ninterest rate swap contracts were accounted for as cash flow hedges\n(qualifying for hedge accounting) under International Financial Reporting\nStandards. However, those contracts were not accounted for as such under GAAP\nuntil January 1, 2024. Certain gains and losses related to those contracts\nwere recorded in Miscellaneous Expense (Income). We exclude such items because\nwe believe they are not directly related to our ongoing operating results.\n\nTax effects of the non-core items, which include our non-GAAP adjustments\nabove, are excluded from GAAP tax expense to calculate adjusted tax expense\n(non-GAAP), as we do not believe these costs or recoveries reflect our core\noperating performance and vary significantly among our competitors who also\ngenerally exclude such items in assessing operating performance.\n\nOur non-GAAP financial measures include the following:\n\nAdjusted operating earnings (Adjusted EBIAT) is defined as GAAP earnings from\noperations excluding the impact of Employee SBC expense, TRS FVAs,\nAmortization of intangible assets (excluding computer software), and\nRestructuring and Other Charges (Recoveries). Adjusted operating margin is\nadjusted operating earnings as a percentage of GAAP revenue. Management uses\nadjusted operating earnings (adjusted EBIAT) as a measure to assess\nperformance related to our core operations.\n\nAdjusted net earnings is defined as GAAP net earnings excluding the impact of\nEmployee SBC expense, TRS FVAs, Amortization of intangible assets (excluding\ncomputer software), Restructuring and Other Charges (Recoveries),\nMiscellaneous Expense (Income) and adjustment for taxes. Adjusted EPS is\ncalculated by dividing adjusted net earnings by the number of diluted weighted\naverage shares outstanding. Management uses adjusted net earnings as a measure\nto assess performance related to our core operations.\n\nFree cash flow is defined as cash provided by (used in) operations less the\npurchase of property, plant and equipment (net of proceeds from the sale of\ncertain surplus assets, when applicable). Free cash flow does not represent\nresidual cash flow available to Celestica for discretionary expenditures.\nManagement uses free cash flow as a measure, in addition to GAAP cash provided\nby (used in) operations, to assess our operational cash flow performance. We\nbelieve free cash flow provides another level of transparency to our ability\nto generate cash from normal business operations.\n\nAdjusted ROIC is calculated by dividing annualized adjusted EBIAT by average\nnet invested capital for the period. Net invested capital (calculated in the\ntables below) is derived from GAAP financial measures, and is defined as total\nassets less: cash, right-of-use (ROU) assets (operating and finance leases),\naccounts payable, accrued and other current liabilities and provisions\n(excluding finance and operating lease liabilities) and income taxes payable.\nManagement uses adjusted ROIC as a measure to assess the effectiveness of the\ninvested capital we employ to build products or provide services to our\ncustomers, by quantifying how well we generate earnings relative to the\ncapital we have invested in our business.\n\nThe determination of the GAAP effective tax rate and adjusted effective tax\nrate (non-GAAP) is described in footnote 1 to the table below.\n\nThe following table (which is unaudited) sets forth, for the periods\nindicated, the various non-GAAP financial measures discussed above, and a\nreconciliation of such non-GAAP financial measures to the most directly\ncomparable financial measures determined under GAAP (in millions, except\npercentages and per share amounts):\n\n                                                                   Three months ended September 30                                                  Nine months ended September 30                                                  \n                                                                        2026                                      2025                                   2026                                       2025                            \n                                                                                      % of revenue                              % of revenue                            % of revenue                              % of revenue      \n GAAP revenue                                                      $    5,829.7                              $    3,194.0                           $    14,575.3                              $    8,736.0                         \n                                                                                                                                                                                                                                    \n GAAP gross profit                                                 $    640.8         11.0     %             $    416.1         13.0     %          $    1,655.5        11.4     %             $    1,061.0       12.1     %        \n Employee SBC expense                                                   10.7                                      6.8                                    33.9                                       24.2                            \n TRS FVAs: losses (gains)                                               0.9                                       (48.5    )                             (40.0     )                                (81.6    )                      \n Adjusted gross profit (non-GAAP)                                  $    652.4         11.2     %             $    374.4         11.7     %          $    1,649.4        11.3     %             $    1,003.6       11.5     %        \n                                                                                                                                                                                                                                    \n GAAP SG&A                                                         $    118.2         2.0      %             $    38.4          1.2      %          $    293.7          2.0      %             $    189.8         2.2      %        \n Employee SBC expense                                                   (10.6    )                                (8.8     )                             (37.2     )                                (32.6    )                      \n TRS FVAs: gains (losses)                                               (3.0     )                                64.8                                   43.2                                       110.0                           \n Adjusted SG&A (non-GAAP)                                          $    104.6         1.8      %             $    94.4          3.0      %          $    299.7          2.1      %             $    267.2         3.1      %        \n                                                                                                                                                                                                                                    \n GAAP earnings from operations                                     $    460.0         7.9      %             $    325.0         10.2     %          $    1,190.4        8.2      %             $    726.3         8.3      %        \n Employee SBC expense                                                   21.3                                      15.6                                   71.1                                       56.8                            \n TRS FVAs: losses (gains)                                               3.9                                       (113.3   )                             (83.2     )                                (191.6   )                      \n Amortization of intangible assets (excluding computer software)        10.0                                      10.0                                   29.9                                       29.9                            \n Restructuring and other charges (recoveries)                           0.9                                       4.9                                    (0.6      )                                23.3                            \n Adjusted operating earnings (adjusted EBIAT) (non-GAAP)           $    496.1         8.5      %             $    242.2         7.6      %          $    1,207.6        8.3      %             $    644.7         7.4      %        \n                                                                                                                                                                                                                                    \n GAAP net earnings                                                 $    397.2         6.8      %             $    267.8         8.4      %          $    978.3          6.7      %             $    565.0         6.5      %        \n Employee SBC expense                                                   21.3                                      15.6                                   71.1                                       56.8                            \n TRS FVAs: losses (gains)                                               3.9                                       (113.3   )                             (83.2     )                                (191.6   )                      \n Amortization of intangible assets (excluding computer software)        10.0                                      10.0                                   29.9                                       29.9                            \n Restructuring and other charges (recoveries)                           0.9                                       4.9                                    (0.6      )                                23.3                            \n Miscellaneous Expense (Income)                                         (0.2     )                                1.3                                    (1.1      )                                4.4                             \n Adjustments for taxes ((1))                                            (31.0    )                                (3.2     )                             (47.4     )                                (3.4     )                      \n Adjusted net earnings (non-GAAP)                                  $    402.1         6.9      %             $    183.1         5.7      %          $    947.0          6.5      %             $    484.4         5.5      %        \n                                                                                                                                                                                                                                    \n Diluted EPS                                                                                                                                                                                                                        \n Weighted average # of shares (in millions)                             121.8                                     115.9                                  117.9                                      116.2                           \n GAAP EPS                                                          $    3.26                                 $    2.31                              $    8.30                                  $    4.86                            \n Adjusted EPS (non-GAAP)                                           $    3.30                                 $    1.58                              $    8.03                                  $    4.17                            \n # of shares outstanding at period end (in millions)                    126.1                                     115.0                                  126.1                                      115.0                           \n                                                                                                                                                                                                                                    \n GAAP cash provided by operations                                  $    389.7                                $    126.2                             $    1,156.9                               $    408.9                           \n Purchase of property, plant and equipment, net of sales proceeds       (262.2   )                                (37.3    )                             (744.4    )                                (106.5   )                      \n Free cash flow (non-GAAP)                                         $    127.5                                $    88.9                              $    412.5                                 $    302.4                           \n                                                                                                                                                                                                                                    \n GAAP ROIC %                                                            60.0     %                                50.4     %                             55.9      %                                39.0     %                      \n Adjusted ROIC % (non-GAAP)                                             64.7     %                                37.5     %                             56.7      %                                34.6     %                      \n\n\n\n (1)  The adjustments for taxes represent the tax effects (reflecting applicable effective tax rates) of the non-core items, which include our non-GAAP adjustments above.                                                                                            \n      Our GAAP effective tax rate is calculated as (i) GAAP tax expense divided by (ii) earnings from operations minus finance costs, net of interest income, and Miscellaneous Expense (Income) recorded on our statements of operations. Our adjusted effective tax \n      rate (non-GAAP) is calculated as (i) adjusted tax expense (non-GAAP) divided by (ii) adjusted operating earnings (non-GAAP) minus finance costs, net of interest income. The following table sets forth, for the periods indicated, our calculation of GAAP     \n      effective tax rate and adjusted effective tax rate (non-GAAP):                                                                                                                                                                                                  \n\n\n\n                                         Three months ended                       Nine months ended                        \n                                         September 30                             September 30                             \n                                              2026                  2025               2026                    2025        \n GAAP tax expense                        $    58.6             $    43.1          $    175.4              $    116.9       \n                                                                                                                           \n Earnings from operations                $    460.0            $    325.0         $    1,190.4            $    726.3       \n Finance costs                                (24.1  )              (13.8  )           (63.3    )              (43.2  )    \n Interest income                              19.7                  1.0                25.5                    3.2         \n Miscellaneous Income (Expense)               0.2                   (1.3   )           1.1                     (4.4   )    \n                                         $    455.8            $    310.9         $    1,153.7            $    681.9       \n                                                                                                                           \n GAAP effective tax rate                      13     %              14     %           15       %              17     %    \n                                                                                                                           \n Adjusted tax expense (non-GAAP)         $    89.6             $    46.3          $    222.8              $    120.3       \n                                                                                                                           \n Adjusted operating earnings (non-GAAP)  $    496.1            $    242.2         $    1,207.6            $    644.7       \n Finance costs                                (24.1  )              (13.8  )           (63.3    )              (43.2  )    \n Interest income                              19.7                  1.0                25.5                    3.2         \n                                         $    491.7            $    229.4         $    1,169.8            $    604.7       \n                                                                                                                           \n Adjusted effective tax rate (non-GAAP)       18     %              20     %           19       %              20     %    \n\n \n\nThe following table sets forth, for the periods indicated, our calculation of\nGAAP ROIC % and adjusted ROIC % (non-GAAP) (in millions, except GAAP ROIC %\nand adjusted ROIC % (non-GAAP)):\n\n                                                          Three months ended                           Nine months ended                          \n                                                          September 30                                 September 30                               \n                                                               2026                    2025                 2026                    2025          \n GAAP earnings from operations                            $    460.0              $    325.0           $    1,190.4            $    726.3         \n Multiplier to annualize earnings                              4                       4                    1.333                   1.333         \n Annualized GAAP earnings from operations                 $    1,840.0            $    1,300.0         $    1,586.8            $    968.2         \n                                                                                                                                                  \n Average net invested capital for the period*             $    3,066.6            $    2,581.6         $    2,839.0            $    2,482.8       \n                                                                                                                                                  \n GAAP ROIC %                                                   60.0     %              50.4     %           55.9     %              39.0     %    \n                                                                                                                                                  \n                                                          Three months ended                           Nine months ended                          \n                                                          September 30                                 September 30                               \n                                                               2026                    2025                 2026                    2025          \n Adjusted operating earnings (adjusted EBIAT) (non-GAAP)  $    496.1              $    242.2           $    1,207.6            $    644.7         \n Multiplier to annualize earnings                              4                       4                    1.333                   1.333         \n Annualized adjusted EBIAT (non-GAAP)                     $    1,984.4            $    968.8           $    1,609.7            $    859.4         \n                                                                                                                                                  \n Average net invested capital for the period*             $    3,066.6            $    2,581.6         $    2,839.0            $    2,482.8       \n                                                                                                                                                  \n Adjusted ROIC % (non-GAAP)                                    64.7     %              37.5     %           56.7     %              34.6     %    \n\n\n\n                                                                                                                                                            September 30 2026       June 30 2026        March 31 2026       December 31 2025      \n Net invested capital consists of:                                                                                                                                                                                                                \n Total assets                                                                                                                                               $          15,138.5     $        9,787.6    $        8,260.0    $          7,213.1    \n Less: cash                                                                                                                                                            3,961.3               535.7               378.0                 595.6      \n Less: ROU assets (operating and finance leases)                                                                                                                       274.5                 218.5               199.9                 173.1      \n Less: accounts payable, accrued and other current liabilities and provisions (excluding finance and operating lease liabilities) and income taxes payable             7,682.3               6,120.7             5,021.7               3,882.0    \n Net invested capital at period end*                                                                                                                        $          3,220.4      $        2,912.7    $        2,660.4    $          2,562.4    \n                                                                                                                                                                                                                                                  \n                                                                                                                                                            September 30 2025       June 30 2025        March 31 2025       December 31 2024      \n Net invested capital consists of:                                                                                                                                                                                                                \n Total assets                                                                                                                                               $          6,606.7      $        6,241.1    $        5,834.9    $          5,988.2    \n Less: cash                                                                                                                                                            305.9                 313.8               303.0                 423.3      \n Less: ROU assets (operating and finance leases)                                                                                                                       178.9                 174.9               178.6                 180.8      \n Less: accounts payable, accrued and other current liabilities and provisions (excluding finance and operating lease liabilities) and income taxes payable             3,445.4               3,265.7             3,000.3               2,969.2    \n Net invested capital at period end*                                                                                                                        $          2,676.5      $        2,486.7    $        2,353.0    $          2,414.9    \n\n\n\n *  We use a two-point average to calculate average net invested capital for the quarter and a four-point average to calculate average net invested capital for the nine-month period. Average net invested capital for Q3 2026 is the average of net invested capital at September 30, 2026 and June 30, 2026 and average net invested capital for the first nine months of 2026 is the average of net invested capital at September 30, 2026, June 30, 2026, March 31, 2026 and December 31, 2025.  \n\n\n\n                                                                                                                                    \n CELESTICA INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in millions of U.S. dollars) (unaudited)                                     \n                                                                                                                                    \n                                                                                      September 30 2026       December 31 2025      \n Assets                                                                                                                             \n Current assets:                                                                                                                    \n Cash and cash equivalents                                                            $          3,961.3      $          595.6      \n Accounts receivable, net                                                                        3,763.1                 2,638.1    \n Inventories                                                                                     4,509.7                 2,188.0    \n Other current assets                                                                            309.6                   251.5      \n Total current assets                                                                            12,543.7                5,673.2    \n Property, plant and equipment, net                                                              1,403.3                 586.0      \n Operating lease right-of-use assets                                                             194.7                   124.1      \n Goodwill                                                                                        333.3                   333.1      \n Intangible assets, net                                                                          234.2                   266.2      \n Deferred income taxes                                                                           232.5                   156.4      \n Other non-current assets                                                                        196.8                   74.1       \n Total assets                                                                         $          15,138.5     $          7,213.1    \n                                                                                                                                    \n Liabilities and Equity                                                                                                             \n Current liabilities:                                                                                                               \n Current portion of borrowings under credit facility and finance lease obligations    $          27.3         $          26.0       \n Accounts payable                                                                                5,040.6                 1,866.1    \n Accrued and other current liabilities and provisions                                            2,559.1                 1,896.8    \n Income taxes payable                                                                            142.8                   150.7      \n Total current liabilities                                                                       7,769.8                 3,939.6    \n Long-term portion of borrowings under credit facility and finance lease obligations             791.5                   750.5      \n Pension and non-pension post-employment benefit obligations                                     90.8                    89.5       \n Other non-current liabilities and provisions                                                    232.5                   176.0      \n Deferred income taxes                                                                           39.9                    41.2       \n Total liabilities                                                                               8,924.5                 4,996.8    \n Equity:                                                                                                                            \n Total equity                                                                                    6,214.0                 2,216.3    \n Total liabilities and equity                                                         $          15,138.5     $          7,213.1    \n\n\n\n                                                                                                                                                                      \n CELESTICA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in millions of U.S. dollars, except per share amounts) (unaudited)                                   \n                                                                                                                                                                      \n                                                                             Three months ended                           Nine months ended                           \n                                                                             September 30                                 September 30                                \n                                                                                  2026                    2025                 2026                     2025          \n                                                                                                                                                                      \n Revenue                                                                     $    5,829.7            $    3,194.0         $    14,575.3            $    8,736.0       \n Cost of sales                                                                    5,188.9                 2,777.9              12,919.8                 7,675.0       \n Gross profit                                                                     640.8                   416.1                1,655.5                  1,061.0       \n Selling, general and administrative expenses                                     118.2                   38.4                 293.7                    189.8         \n Research and development                                                         51.2                    36.4                 138.7                    88.0          \n Amortization of intangible assets                                                10.5                    11.4                 33.3                     33.6          \n Restructuring and other charges (recoveries)                                     0.9                     4.9                  (0.6      )              23.3          \n Earnings from operations                                                         460.0                   325.0                1,190.4                  726.3         \n Finance costs                                                                    24.1                    13.8                 63.3                     43.2          \n Interest income                                                                  (19.7    )              (1.0     )           (25.5     )              (3.2     )    \n Miscellaneous expense (income)                                                   (0.2     )              1.3                  (1.1      )              4.4           \n Earnings before income taxes                                                     455.8                   310.9                1,153.7                  681.9         \n Income tax expense (recovery)                                                                                                                                        \n Current                                                                          84.8                    44.2                 250.2                    133.0         \n Deferred                                                                         (26.2    )              (1.1     )           (74.8     )              (16.1    )    \n                                                                                  58.6                    43.1                 175.4                    116.9         \n Net earnings                                                                $    397.2              $    267.8           $    978.3               $    565.0         \n                                                                                                                                                                      \n Earnings per share:                                                                                                                                                  \n Basic                                                                       $    3.30               $    2.33            $    8.38                $    4.90          \n Diluted                                                                     $    3.26               $    2.31            $    8.30                $    4.86          \n                                                                                                                                                                      \n Weighted-average shares used in computing per share amounts (in millions):                                                                                           \n Basic                                                                            120.5                   115.0                116.8                    115.4         \n Diluted                                                                          121.8                   115.9                117.9                    116.2         \n\n\n\n                                                                                                                                                                                                                                              \n CELESTICA INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions of U.S. dollars) (unaudited)                                                                                                                                     \n                                                                                                                                                                                                                                              \n                                                                                               Three months ended                                                                                  Nine months ended                          \n                                                                                               September 30                                                                                        September 30                               \n Cash provided by (used in):                                                                                            2026                                                        2025                2026                     2025         \n Operating activities:                                                                                                                                                                                                                        \n Net earnings                                                                                  $                        397.2                                                  $    267.8          $    978.3               $    565.0        \n Adjustments to reconcile net earnings to net cash flows provided by operating activities:                                                                                                                                                    \n Depreciation and amortization                                                                                          48.5                                                        40.3                132.1                    123.0        \n Stock-based compensation (SBC)                                                                                         21.3                                                        15.6                71.1                     56.8         \n Total return swap (TRS) fair value adjustments                                                                         3.9                                                         (113.3  )           (83.2     )              (191.6  )    \n Restructuring and other charges (recoveries)                                                                           —                                                           2.5                 (10.0     )              2.9          \n Unrealized losses on hedge derivatives                                                                                 —                                                           1.1                 —                        3.7          \n Deferred income taxes                                                                                                  (26.2                    )                                  (1.1    )           (74.8     )              (16.1   )    \n Other                                                                                                                  7.0                                                         5.7                 9.8                      24.1         \n Changes in non-cash working capital items:                                                                                                                                                                                                   \n Accounts receivable                                                                                                    (424.9                   )                                  (151.5  )           (1,125.0  )              (370.3  )    \n Inventories                                                                                                            (1,108.0                 )                                  (128.6  )           (2,321.7  )              (286.1  )    \n Other current assets                                                                                                   (22.9                    )                                  (0.9    )           (10.2     )              (7.3    )    \n Accounts payable, accrued and other current liabilities, provisions and income taxes payable                           1,493.8                                                     188.6               3,590.5                  504.8        \n Net cash provided by operating activities                                                                              389.7                                                       126.2               1,156.9                  408.9        \n                                                                                                                                                                                                                                              \n Investing activities:                                                                                                                                                                                                                        \n Purchase of property, plant and equipment                                                                              (274.1                   )                                  (37.3   )           (767.4    )              (106.5  )    \n Proceeds from sale of assets                                                                                           11.9                                                        —                   23.0                     —            \n Other                                                                                                                  —                                                           —                   (2.5      )              (2.5    )    \n Net cash used in investing activities                                                                                  (262.2                   )                                  (37.3   )           (746.9    )              (109.0  )    \n                                                                                                                                                                                                                                              \n Financing activities:                                                                                                                                                                                                                        \n Borrowings under revolving loans                                                                                       210.0                                                       —                   810.0                    500.0        \n Repayments under revolving loans                                                                                       (210.0                   )                                  (90.0   )           (810.0    )              (500.0  )    \n Borrowings under term loans                                                                                            —                                                           —                   250.0                    —            \n Repayments under term loans                                                                                            (4.4                     )                                  (4.4    )           (238.1    )              (13.1   )    \n Principal payments of finance leases                                                                                   (2.3                     )                                  (2.4    )           (7.3      )              (7.6    )    \n Proceeds from issuance of capital stock under SBC plans                                                                —                                                           —                   —                        0.3          \n Proceeds from issuance of capital stock under public offering, net of issuance costs                                   3,391.3                                                     —                   3,391.3                  —            \n Repurchase of capital stock for cancellation                                                                           —                                                           —                   (22.6     )              (117.7  )    \n Purchase of treasury stock for SBC plans                                                                               (37.6                    )                                  —                   (37.6     )              (221.6  )    \n Proceeds from TRS settlement                                                                                           —                                                           —                   —                        98.6         \n SBC cash settlement                                                                                                    (47.3                    )                                  —                   (373.6    )              (156.0  )    \n Debt issuance costs paid                                                                                               (1.6                     )                                  —                   (6.4      )              (0.2    )    \n Net cash provided by (used in) financing activities                                                                    3,298.1                                                     (96.8   )           2,955.7                  (417.3  )    \n                                                                                                                                                                                                                                              \n Net increase (decrease) in cash and cash equivalents                                                                   3,425.6                                                     (7.9    )           3,365.7                  (117.4  )    \n Cash and cash equivalents, beginning of period                                                                         535.7                                                       313.8               595.6                    423.3        \n Cash and cash equivalents, end of period                                                      $                        3,961.3                                                $    305.9          $    3,961.3             $    305.9        \n                                                                                                                                                                                                                                              \n Supplemental disclosure information:                                                                                                                                                                                                         \n Interest paid                                                                                 $                        17.9                                                   $    13.4           $    57.2                $    40.7         \n Net income taxes paid                                                                         $                        138.9                                                  $    45.7           $    284.4               $    101.9        \n Non-cash investing activity:                                                                                                                                                                                                                 \n Unpaid purchases of property, plant and equipment at end of period                            $                        238.3                                                  $    24.4           $    238.3               $    24.4         \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/04eff7de-9506-43da-b145-51ad85b6ec99)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-26T20:17:00.670327301Z","server_sent_at_ms":1793045820670},"received_at":"2026-10-26T20:17:00.980Z","source_url":null},"analysis":{"id":"168079","press_release_id":"180230","analysis_json":{"industry":{"label":"Electronic Equipment, Instruments & Components","sector":"Information Technology"},"redFlags":["2026 free cash flow outlook cut to $460M from $600M due to working capital investments","GAAP operating margin declined YoY (7.9% vs 10.2%) partly on TRS swap impacts","2027 outlook implies massive capex ramp ($1.5-2.0B) and execution risk on a 90% growth target"],"eventType":"earnings","narrative":"Celestica's Q3 2026 revenue hit $5.83 billion, up 83% year-over-year and above the $5.25-5.55B guidance range, with adjusted EPS of $3.30 up 109% and also above the high end of guidance.\n\nManagement raised its 2026 outlook to $21.0B revenue and $11.55 adjusted EPS, and issued an initial 2027 outlook of $40.0B revenue (+90%), 9.0% adjusted operating margin, and $21.50 adjusted EPS, citing robust AI/hyperscaler demand with 2028 forecasts meaningfully higher.\n\nThe company completed a $3.45B public offering (11.1M shares), cut its 2026 free cash flow outlook to $460M from $600M to fund working capital for 2027 growth, and plans a new NCIB for up to 2.5% of its public float.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Massive AI-driven beat-and-raise: 83% revenue growth, $40B 2027 outlook, and demand forecasts meaningfully higher for 2028."},"keyFigures":{"eps":3.26,"revenue":5829700000,"guidance":"Q4 2026 revenue $6.275-6.575B, adjusted EPS $3.37-3.57; FY2026 revenue $21.0B (raised from $20.5B), adjusted EPS $11.55 (raised from $11.30), FCF $460M (lowered from $600M); initial FY2027 outlook: revenue $40.0B (+90%), adjusted EPS $21.50, adjusted operating margin 9.0%","revenueYoy":"83%","customDimensions":{"fcf_q3":127500000,"adjusted_eps":3.3,"ats_revenue_yoy":"23%","ccs_revenue_yoy":"102%","adjusted_eps_yoy":"109%","ccs_segment_revenue":4870000000,"gaap_operating_margin":"7.9%","ncib_repurchase_limit":"up to 2.5% of public float","adjusted_operating_margin":"8.5%","completed_offering_gross_proceeds":3450000000,"hardware_platform_solutions_revenue":2300000000}},"quotedText":"we are pleased to provide our initial 2027 annual outlook, with revenue of $40.0 billion, up 90%, record adjusted operating margin (non-GAAP)* of 9.0% and adjusted EPS (non-GAAP)* of $21.50","namedEntities":{"people":[{"name":"Rob Mionis","role":"Chair of the Board and CEO"}],"products":[],"companies":[{"name":"Celestica Inc.","ticker":"CLS"},{"name":"Toronto Stock Exchange","relationship":"regulatory exchange"}],"dollarAmounts":[{"amount":"$5.83 billion","context":"Q3 2026 revenue"},{"amount":"$3.45 billion","context":"aggregate gross proceeds from completed public offering"},{"amount":"$21.0 billion","context":"updated 2026 annual revenue outlook"},{"amount":"$40.0 billion","context":"initial 2027 annual revenue outlook"},{"amount":"$460 million","context":"updated 2026 free cash flow outlook (lowered from $600M)"},{"amount":"$1.5 billion and $2.0 billion","context":"2027 capital expenditures range"}]},"materialImpact":{"score":5,"reasoning":"Q3 revenue of $5.83B (+83% YoY) and adjusted EPS of $3.30 exceeded the high end of guidance (revenue guide $5.25-5.55B, EPS guide $2.88-3.08). The company raised its 2026 outlook and issued an initial 2027 outlook of $40B revenue (+90%) with $21.50 adjusted EPS."},"tickerRelevance":{"others":[],"primary":"CLS"},"globalImportance":72,"audienceRelevance":68,"eventTypeSecondary":["guidance_update","buyback","offering"],"importanceComponents":{"tickerTier":"large-cap retail favorite (AI/EMS theme)","eventGravity":"earnings beat >10% plus guidance raise plus first 2027 outlook","sectorWeight":"AI infrastructure supercycle narrative","householdBrandBoost":"moderate","retailFavoriteBoost":"high -- CLS is a prominent AI-momentum name"}},"event_type":"earnings","event_type_secondary":["guidance_update","buyback","offering"],"sentiment":"bullish","material_impact_score":5,"narrative":"Celestica's Q3 2026 revenue hit $5.83 billion, up 83% year-over-year and above the $5.25-5.55B guidance range, with adjusted EPS of $3.30 up 109% and also above the high end of guidance.\n\nManagement raised its 2026 outlook to $21.0B revenue and $11.55 adjusted EPS, and issued an initial 2027 outlook of $40.0B revenue (+90%), 9.0% adjusted operating margin, and $21.50 adjusted EPS, citing robust AI/hyperscaler demand with 2028 forecasts meaningfully higher.\n\nThe company completed a $3.45B public offering (11.1M shares), cut its 2026 free cash flow outlook to $460M from $600M to fund working capital for 2027 growth, and plans a new NCIB for up to 2.5% of its public float.","key_figures":{"eps":3.26,"revenue":5829700000,"guidance":"Q4 2026 revenue $6.275-6.575B, adjusted EPS $3.37-3.57; FY2026 revenue $21.0B (raised from $20.5B), adjusted EPS $11.55 (raised from $11.30), FCF $460M (lowered from $600M); initial FY2027 outlook: revenue $40.0B (+90%), adjusted EPS $21.50, adjusted operating margin 9.0%","revenueYoy":"83%","customDimensions":{"fcf_q3":127500000,"adjusted_eps":3.3,"ats_revenue_yoy":"23%","ccs_revenue_yoy":"102%","adjusted_eps_yoy":"109%","ccs_segment_revenue":4870000000,"gaap_operating_margin":"7.9%","ncib_repurchase_limit":"up to 2.5% of public float","adjusted_operating_margin":"8.5%","completed_offering_gross_proceeds":3450000000,"hardware_platform_solutions_revenue":2300000000}},"named_entities":{"people":[{"name":"Rob Mionis","role":"Chair of the Board and CEO"}],"products":[],"companies":[{"name":"Celestica Inc.","ticker":"CLS"},{"name":"Toronto Stock Exchange","relationship":"regulatory exchange"}],"dollarAmounts":[{"amount":"$5.83 billion","context":"Q3 2026 revenue"},{"amount":"$3.45 billion","context":"aggregate gross proceeds from completed public offering"},{"amount":"$21.0 billion","context":"updated 2026 annual revenue outlook"},{"amount":"$40.0 billion","context":"initial 2027 annual revenue outlook"},{"amount":"$460 million","context":"updated 2026 free cash flow outlook (lowered from $600M)"},{"amount":"$1.5 billion and $2.0 billion","context":"2027 capital expenditures range"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-26T20:17:09.941Z","global_importance":72,"audience_relevance":68,"importance_components":{"tickerTier":"large-cap retail favorite (AI/EMS theme)","eventGravity":"earnings beat >10% plus guidance raise plus first 2027 outlook","sectorWeight":"AI infrastructure supercycle narrative","householdBrandBoost":"moderate","retailFavoriteBoost":"high -- CLS is a prominent AI-momentum name"}},"durationMs":6667,"modelName":"glm-5.3-flashx"}}