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Celestica Announces First Quarter 2022 Financial Results

TORONTO– Celestica Inc. (TSX: CLS) (NYSE: CLS), a leader in design, manufacturing and supply chain solutions for the world’s most innovative companies, today announced financial results for the quarter ended March 31, 2022 (Q1 2022).

“Our strong performance in the first quarter was a great start to the year. Although the macro environment presented a number of challenges, we continue to execute well on our key objectives while advancing our long term strategy,” said Rob Mionis, President and CEO, Celestica.

“Based on our performance to-date and the assumption that the supply chain environment does not materially worsen, we are pleased to raise our full year 2022 revenue outlook to at least $6.5 billion, which, if achieved, would represent at least 15% year-over-year growth.”

Q1 2022 Highlights

  • Key measures:
    • Revenue: $1.57 billion, increased 27% compared to $1.23 billion for the first quarter of 2021 (Q1 2021).
    • Operating margin (non-IFRS)*: 4.4%, compared to 3.5% for Q1 2021.
    • ATS segment revenue: increased 31% compared to Q1 2021; ATS segment margin was 5.0%, compared to 4.0% for Q1 2021.
    • CCS segment revenue: increased 24% compared to Q1 2021; CCS segment margin was 3.9%, compared to 3.1% for Q1 2021.
    • Adjusted earnings per share (EPS) (non-IFRS)*: $0.39, compared to $0.22 for Q1 2021.
    • Adjusted return on invested capital (non-IFRS)*: 13.9%, compared to 10.8% for Q1 2021.
    • Free cash flow (non-IFRS)*: $0.5 million, compared to $20.9 million for Q1 2021.
  • IFRS financial measures (directly comparable to non-IFRS measures above):
    • Earnings before income taxes as a percentage of revenue: 2.0%, compared to 1.3% for Q1 2021.
    • EPS: $0.17, compared to $0.08 per share for Q1 2021.
    • Return on invested capital: 6.2%, compared to 3.9% for Q1 2021.
    • Cash provided by operations: $35.3 million, compared to $48.8 million for Q1 2021.
  • Repurchased and cancelled 0.7 million shares for $7.8 million under our normal course issuer bid

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