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Celestica Reaffirms Q4 2020 Guidance, Provides Update on Near-Term Expectations
December 3, 2020 | Celestica Inc.Estimated reading time: 1 minute
Celestica Inc., a leader in design, manufacturing and supply chain solutions for the world's most innovative companies, will host an analyst and investor meeting today to provide an update on its Joint Design and Manufacturing (JDM) business. Celestica has been investing in its JDM business for the last 10 years. Today, the JDM business has over 500 design engineers, over 280 patents, launched over 150 programs and shipped over 2.5 million units.
Celestica also reaffirmed its fourth quarter of 2020 revenue and non-IFRS adjusted earnings per share* financial guidance, and updated near-term expectations** as follows:
2020 JDM revenue is expected to exceed $800 million, up over 80% compared to 2019; JDM revenue is expected to continue to grow in 2021, albeit at a lower rate
As anticipated, non-JDM Connectivity & Cloud Solutions (CCS) segment revenue† is expected to decline in 2021 compared to 2020 primarily due to the disengagement from programs with Cisco Systems, Inc. (Cisco Disengagement)
- Advanced Technology Solutions (ATS) segment revenue† is targeted to grow 10% in 2021 compared to 2020
- ATS segment margin† is expected to be within its target range of 5% to 6% by the end of 2021
- CCS segment margin† is expected to be within its target range of 2% to 3% in 2021
- Celestica is on track to generate at least $100 million of non-IFRS free cash flow* in 2020; also expecting to achieve this goal in 2021
- Over 50 potential M&A targets reviewed in 2020 through defined investment filter; intend to continue to assess M&A transactions against alternative uses of cash
- Intention in the near term is to repurchase shares under recently-announced share buy-back program if trading price below tangible book value
Celestica’s management will discuss these updates and provide an update on its JDM business on its previously-announced analyst and investor meeting.
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