CLS - Celestica To Hold Previously-Announced Virtual Investor Meeting Today | Benzinga
TORONTO, Nov. 29, 2023 (GLOBE NEWSWIRE) -- Celestica Inc. ((NYSE, TSX:CLS), a leader in design, manufacturing, hardware platform and supply chain solutions for the world's most innovative companies, will hold a previously-announced virtual investor meeting today at 1:00pm ET. During the meeting, Celestica's management will provide an overview of the business outlook and growth opportunities in the company's Advanced Technology Solutions (ATS) and Connectivity & Cloud Solutions (CCS) segments, and details on its near-term financial outlook and long-term financial targets.
Celestica's management will reaffirm its 2023 annual financial outlook of:
- Revenue of $7.9 billion
- Non-IFRS operating margin* of 5.5%
- Non-IFRS adjusted earnings per share* of $2.36
- Non-IFRS adjusted free cash flow* of $150 million
Management will also discuss additional financial estimates, outlook and targets, including the following:
- 2024 annual outlook consisting of:
- Revenue of at least $8.5 billion
- Non-IFRS operating margin* of between 5.5% and 6.0%
- Non-IFRS adjusted earnings per share* of $2.70 or more
- Non-IFRS adjusted free cash flow* of $175 million or more
- Revenue and non-IFRS adjusted earnings per share* targets† for 2025 and 2026 consisting of:
- Revenue target of between $8.9 billion and $9.3 billion for 2025†
- Non-IFRS adjusted earnings per share* target of between $2.97 and $3.10 for 2025†
- Non-IFRS adjusted free cash flow* target for 2025† of $200 million or more
- Revenue target of between $9.5 billion and $10.0 billion for 2026†
- Non-IFRS adjusted earnings per share* target of between $3.27 and $3.55 for 2026†
* Non-International Financial Reporting Standards (IFRS) financial measures (including ratios based on non-IFRS financial measures) do not have any standardized meanings prescribed by IFRS and therefore may not be comparable to similar financial measures presented by other public companies that report under IFRS or U.S. generally accepted accounting principles. We do not provide reconciliations for forward-looking non-IFRS financial measures, as we are unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. See "Non-IFRS Financial Measures" below for further detail, as well as the definitions and uses of the non-IFRS financial measures included herein.
† Targets for 2025 and 2026 constitute our objectives and goals, and are not intended to be projections or forecasts of future performance. Our future performance is subject to risks, uncertainties and other factors that could cause actual outcomes and results to differ materially from such objectives and goals.
Participants are invited to join the live webcast at the following link.
For those unable to participate, a recorded webcast will be available approximately two hours after completion of the call for 12 months. To access the recorded webcast visit www.celestica.com.
About Celestica
Celestica enables the world's best brands. Through our recognized customer-centric approach, we partner with leading companies in Aerospace and Defense, Communications, Enterprise, HealthTech, Industrial, and Capital Equipment to deliver solutions for their most complex challenges. As a leader in design, manufacturing, hardware platform and supply chain solutions, Celestica brings global expertise and insight at every stage of product development - from the drawing board to full-scale production and after-market services. With talented teams across North America, Europe and Asia, we imagine, develop and deliver a better future with our customers.
Cautionary Note Regarding Forward-looking Statements
This press release contains forward looking statements, including without limitation, financial outlook and targets. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "continues," "project," "outlook," "target," "goal," "objective," "potential," "possible," "contemplate," "seek," or similar expressions, or may employ such future or conditional verbs as "may," "might," "will," "could," "should," or "would," or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995 and for forward-looking information under applicable Canadian securities laws. Although we have incorporated the anticipated impact of demand softness in our Capital Equipment business into the outlook and targets included in this press release to the best of our ability, its adverse impact (in terms of duration and severity) cannot be estimated with certainty, and may be materially in excess of our expectations.
Forward-looking statements are provided to assist readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements are not guarantees of future performance and are subject to risks that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including, among others, risks related to: customer and segment concentration; challenges of replacing revenue from completed, lost or non-renewed programs or customer disengagements; managing our business during uncertain market, political and economic conditions, including among others, global inflation and/or recession, and geopolitical and other risks associated with our international operations, including military actions, protectionism and reactive countermeasures, economic or other sanctions or trade barriers, including in relation to the Russia/Ukraine conflict and/or the Hamas/Israel conflict; managing changes in customer demand; our customers' ability to compete and succeed using our products and services; delays in the delivery and availability of components, services and/or materials, as well as their costs and quality; our inventory levels and practices; the cyclical and volatile nature of our semiconductor business; changes in our mix of customers and/or the types of products or services we provide, including negative impacts of higher concentrations of lower margin programs; price, margin pressures, and other competitive factors and adverse market conditions affecting, and the highly competitive nature of, the electronics manufacturing services ...