2024-02-02 02:58:15 ET
Summary
- Celestica posts strong Q4 2023 financial results, beating revenue and earnings estimates.
- Connectivity & Cloud Solutions segment drives revenue growth and margin improvement.
- Promising outlook for FY 2024, with 14% YoY revenue growth expected and margin improvement potential.
- Buy rating reiterated with an increased price target of $72.
Celestica Posts Strong Earnings
Celestica (CLS) reported its fourth quarter 2023 financial results on January 29, 2024. The company delivered another solid performance, beating the consensus estimates on both revenue and earnings. Celestica's revenue increased 5% year-over-year to $2.14 billion, while its adjusted EPS rose 36% to $0.76. The company also achieved a record operating margin of 6.0%, up from 5.3% in the same quarter last year. Celestica's strong execution and growth momentum is impressive, especially in the face of the ongoing macroeconomic uncertainties....
Read the full article on Seeking Alpha
For further details see:
Celestica: Strong Q4 Earnings, Reiterate Buy