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Celestica Announces Q3 2023 Financial Results
October 26, 2023 | CelesticaEstimated reading time: 1 minute
Celestica Inc., a leader in design, manufacturing, hardware platform and supply chain solutions for the world’s most innovative companies, announced financial results for the quarter ended September 30, 2023 (Q3 2023).
“Our solid Q3 2023 results and year-to-date performance have positioned us to exceed our previously-issued 2023 annual financial outlook and deliver new company highs for non-IFRS adjusted EPS* and non-IFRS operating margin*,” said Rob Mionis, President and CEO, Celestica.
“We are confident in our long-term strategy and our ability to deliver strong and consistent financial results. We are also pleased to reiterate our 2024 outlook for non-IFRS adjusted EPS* growth of 10%, or more, compared to our increased 2023 annual outlook."
Q3 2023 Highlights
- Key measures:
- Revenue: $2.04 billion, increased 6% compared to $1.92 billion for the third quarter of 2022 (Q3 2022).
- Non-IFRS operating margin*: 5.7%, compared to 5.1% for Q3 2022.
- ATS segment revenue increased 12% compared to Q3 2022; ATS segment margin was 4.9%, compared to 5.0% for Q3 2022.
- CCS segment revenue increased 2% compared to Q3 2022; CCS segment margin was 6.2%, compared to 5.2% for Q3 2022.
- Adjusted earnings per share (EPS) (non-IFRS)*: $0.65, compared to $0.52 for Q3 2022.
- Adjusted return on invested capital (adjusted ROIC) (non-IFRS)*: 21.5%, compared to 19.2% for Q3 2022.
- Adjusted free cash flow (non-IFRS)*: $34.1 million, compared to $7.4 million for Q3 2022.
- Most directly comparable IFRS financial measures to non-IFRS measures above:
- Earnings from operations as a percentage of revenue: 5.7%, compared to 4.1% for Q3 2022.
- EPS: $0.67, compared to $0.37 for Q3 2022.
- Return on invested capital (IFRS ROIC): 21.8%, compared to 15.3% for Q3 2022.
- Cash provided by operations: $88.4 million, compared to $74.4 million for Q3 2022.
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