Celestica Shares Surge 12% Following Strong Q3 Results and Raised Annual Guidance
Celestica (CLS) shares rose over 12% on Tuesday after the company reported a massive third-quarter revenue increase of 83% year-over-year, reaching $5.8 billion. The growth was primarily driven by a 102% surge in connectivity and cloud solutions, with compute and storage sales skyrocketing by 242% due to intense demand for artificial intelligence infrastructure from large-scale cloud customers. Bolstered by these results, management raised its full-year financial guidance, now forecasting revenue of $21 billion and adjusted earnings per share of $11.55. Looking further ahead, the company provided an aggressive outlook for 2027, projecting revenue to reach $40 billion. CEO Rob Mionis noted that the company is well-positioned to support hyperscalers through the ongoing AI infrastructure supercycle.
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Topics: AI Infrastructure Earnings Report Financial Guidance Revenue Growth