Celestica Q3 2026 results: revenue up 83% to $5.83 billion

What happened. Celestica, a Canadian company listed in New York and Toronto (ticker CLS), published results for the quarter ended 30 September 2026. Revenue was $5.83 billion, up 83% from $3.19 billion a year earlier. GAAP earnings per share were $3.26, against $2.31. Adjusted EPS was $3.30, against $1.58. Adjusted operating margin rose to 8.5% from 7.6%, a new high for the company.

Where the growth came from. The Connectivity & Cloud Solutions segment, which serves data centers and networking, brought in $4.87 billion of revenue, up 102% from a year earlier. The Advanced Technology Solutions segment (aerospace, defense, industrial, health) grew 23% to $0.96 billion. Revenue and adjusted EPS came in above the top of the company's own guidance ($5.25 billion to $5.55 billion and $2.88 to $3.08). Analysts polled by MarketWatch expected EPS of $2.99 and revenue of $5.49 billion.

New outlook. For the fourth quarter the company expects revenue of $6.275 billion to $6.575 billion and adjusted EPS of $3.37 to $3.57. For 2026 it now expects revenue of $21.0 billion (previously $20.5 billion) and adjusted EPS of $11.55 (previously $11.30). The first outlook for 2027: revenue of $40.0 billion, up 90%, adjusted EPS of $21.50, adjusted operating margin of 9.0% and capital spending of $1.5 billion to $2.0 billion. According to FactSet, analysts had expected $36.07 billion of revenue and $19.70 of adjusted EPS for 2027. The company says customer demand forecasts for 2028 are meaningfully higher than its 2027 revenue outlook.

What is less smooth. The 2026 free cash flow outlook was cut from $600 million to $460 million. The company says this is due to working capital investments to support faster growth in 2027. In August Celestica also completed a share offering with gross proceeds of $3.45 billion.

The shares. According to MarketWatch, in the regular session on 26 October the shares fell 5% to $246.65 and were down 17% for the year. After the close, when the report came out, they rose 17% to $288.07. How they open on 27 October is not known yet.

Keep in mind. Outlooks are management's expectations, not a guarantee. This is not a price forecast and not advice to buy or sell anything.

Confirmed facts

• Celestica's third-quarter 2026 revenue was $5.83 billion, up 83% from $3.19 billion in the third quarter of 2025.^[1]
• GAAP EPS was $3.26 against $2.31; adjusted (non-GAAP) EPS was $3.30 against $1.58.^[1]
• Adjusted operating margin was 8.5% against 7.6% a year earlier; the company calls it a new high.^[1]
• The company's Q3 guidance was revenue of $5.25 billion to $5.55 billion and adjusted EPS of $2.88 to $3.08.^[1]
• Connectivity & Cloud Solutions segment revenue was $4.87 billion (up 102%); Advanced Technology Solutions revenue was $0.96 billion (up 23%).^[1]
• Fourth-quarter guidance: revenue of $6.275 billion to $6.575 billion and adjusted EPS of $3.37 to $3.57.^[1]
• The 2026 outlook was raised to revenue of $21.0 billion (previously $20.5 billion) and adjusted EPS of $11.55 (previously $11.30).^[1]
• The 2026 free cash flow outlook was cut to $460 million from $600 million because of working capital investments to support faster growth in 2027.^[1]
• First 2027 outlook: revenue of $40.0 billion (up 90%), adjusted EPS of $21.50, adjusted operating margin of 9.0%, capital expenditures of $1.5 billion to $2.0 billion.^[1]
• The company said customer demand forecasts for 2028 are meaningfully higher than its 2027 revenue outlook.^[1]
• A public offering with gross proceeds of $3.45 billion was completed; the offering of 11.1 million shares closed on 7 August 2026.^[1]
• The analyst call and Investor and Analyst Day are on 27 October 2026; the call starts at 8:00 a.m. Eastern Time.^[1]
• Analysts polled by FactSet expected 2027 revenue of $36.07 billion and adjusted EPS of $19.70.^[2]
• Before the report, analysts expected adjusted EPS of $2.99 and revenue of $5.49 billion for the third quarter.^[2]
• According to MarketWatch, in the regular session the shares closed down 5% at $246.65 and were down 17% for the year; in after-hours trading they rose 17% to $288.07.^[2]

Implications

• ConfirmedThe third quarter came in above the company's own guidance for revenue and adjusted EPS.
• ConfirmedThe 2027 target is above what analysts polled by FactSet expected.
• Our readingThe cut to the free cash flow outlook shows that fast growth takes heavy investment.
• Our readingAn after-hours move does not guarantee how the shares will trade in the next session.

Still unknown

• How the shares will trade in the regular session on 27 October.
• What management will say on the call and at Investor Day to back up the 2027 target.
• Whether demand for AI infrastructure holds at the level the company assumes.

Who it affects

Canada, United States, Global. Anyone following AI infrastructure and Celestica shares (NYSE and TSX), in any country

Sources

1. Celestica (SEC Form 8-K, Exhibit 99.1): Celestica Announces Third Quarter 2026 Financial Results and Will Hold 2026 Investor and Analyst Day October 26, 2026 · official
2. MarketWatch (Dow Jones Newswires): Celestica Lifts Outlook, Sees Accelerating Growth Through 2027 on AI Infrastructure Demand October 26, 2026 · media