The earnings call was generally positive, with record revenue and EPS, increased operating margins, and strong growth in the CCS segment. However, there were challenges such as a decline in enterprise revenue and increased inventory levels. The company raised its annual financial outlook, indicating confidence in future performance.

Company Guidance -

Q3 2025

During Celestica's Q2 2025 earnings call, the company provided updated guidance for Q3 2025 and the full year. For Q3, Celestica projected revenue between $2.875 billion and $3.125 billion, representing 20% growth at the midpoint, with adjusted earnings per share (EPS) anticipated to be between $1.37 and $1.53. The company expects its non-GAAP operating margin to be 7.4%, an increase of 60 basis points from the previous year. For the full year 2025, Celestica raised its revenue outlook from $10.85 billion to $11.55 billion, reflecting 20% year-over-year growth. The adjusted EPS outlook was increased from $5 to $5.50 per share, indicating a 42% increase, while the anticipated non-GAAP operating margin remained at 7.4%. Additionally, the company raised its free cash flow outlook from $350 million to $400 million. This guidance assumes no significant changes to tariffs or trade restrictions.

Record Revenue and EPS

Celestica achieved revenues of $2.89 billion and adjusted EPS of $1.39, both exceeding the high end of guidance ranges with revenues up 21% year-over-year.

High Operating Margins

Adjusted operating margin reached 7.4%, marking the highest performance in company history.

Strong Growth in CCS Segment

The CCS segment experienced very strong growth, driven by a 28% increase in revenue due to demand for networking products from hyperscale customers.

Significant Increase in Free Cash Flow

Free cash flow for the second quarter was $120 million, $54 million higher than the prior year period.

Raising Annual Financial Outlook

The 2025 revenue outlook was increased from $10.85 billion to $11.55 billion, reflecting 20% year-over-year growth, and adjusted EPS outlook was raised from $5 to $5.50.

Strong Demand for Networking Products

Demand for 800G networking switch programs is ramping, complementing strong demand for 400G switches.

Celestica (CLS) Earnings, Revenues Date & History

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CLS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 27, 2025	2025 (Q3)	1.46 / -	1.043	―	―	―
Jul 28, 2025	2025 (Q2)	1.24 / 1.39	0.911	52.43% (+0.48)
Apr 24, 2025	2025 (Q1)	1.13 / 1.21	0.854	41.14% (+0.35)
Jan 29, 2025	2024 (Q4)	1.09 / 1.16	0.74	56.71% (+0.42)
Oct 23, 2024	2024 (Q3)	0.93 / 1.04	0.651	60.36% (+0.39)
Jul 24, 2024	2024 (Q2)	0.81 / 0.91	0.526	73.14% (+0.38)
Apr 24, 2024	2024 (Q1)	0.71 / 0.85	0.464	84.22% (+0.39)
Jan 29, 2024	2023 (Q4)	0.66 / 0.74	0.543	36.32% (+0.20)
Oct 25, 2023	2023 (Q3)	0.59 / 0.65	0.513	26.84% (+0.14)
Jul 26, 2023	2023 (Q2)	0.46 / 0.53	0.41	28.27% (+0.12)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CLS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 28, 2025	$173.37	$202.00	+16.51%
Apr 24, 2025	$92.14	$89.05	-3.35%
Jan 29, 2025	$100.49	$114.15	+13.59%
Oct 23, 2024	$57.47	$67.94	+18.22%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.