Celestica to hold a roundtable » 08:2811/2611/26/20
President & CEO…
President & CEO Mionis and CFO Chawla hold a Joint Design & Manufacturing Roundtable on December 2 at 4 pm. Webcast Link
|Over a month ago|
Celestica sees Q4 adj. EPS 22c-28c, consensus 22c » 07:2510/2810/28/20
Sees revenue $1.35B-$1.45B, consensus $1.49B.
Celestica expects 2020 restructuring costs approx. $30M » 07:2310/2810/28/20
The company said,…
The company said, "We continue to anticipate that total restructuring costs in 2020 will be approximately $30 million. We recorded a total of $19.0 million in restructuring charges during the first three quarters of 2020, including $3.7 million recorded in Q3 2020. Our restructuring charges for Q3 2020 consisted primarily of actions to adjust our cost base to address reduced levels of demand in certain of our businesses, including continued actions to right-size our commercial aerospace facilities as described above. We intend to implement restructuring actions in Q4 2020 in connection with the completion of the Cisco Disengagement, and to further adjust the cost base of our businesses undergoing continued demand pressures."
Celestica reports Q3 adj. EPS 32c, consensus 25c » 07:2210/2810/28/20
Reports Q3 revenue…
Reports Q3 revenue $1.55B, consensus $1.49B. "In the third quarter, Celestica delivered sequential and year-over year revenue growth, as well as non-IFRS operating margin expansion," said Rob Mionis, President and CEO, Celestica. "Our strong operating performance while managing a dynamic market environment reflects the strength of our portfolio and the progress we have made in executing our strategy. Our global team will continue to adapt to the evolving needs of our customers across the markets we serve, and we remain committed to generating sustainable long-term value for our customers and shareholders."
Celestica releases 2019 sustainability report » 08:4209/1709/17/20
Celestica announced the…
Celestica announced the release of its 2019 Sustainability Report. Now in its tenth year, the report highlights Celestica's sustainability strategy and its key activities and milestones for each of its four areas of focus: people, planet, products and services, and communities. The report's release comes as the company received approval of its emissions reductions goals from the Science Based Targets initiative. With this, Celestica becomes the first among its traditional competitors in the electronics manufacturing industry to have created SBTi approved targets in line with climate science and the goals of the Paris Agreement. Celestica's goal is to reduce absolute Scope 1 and Scope 2 greenhouse gas emissions 30% of 2018 levels by 2025. Celestica also aims to reduce absolute Scope 3 GHG emissions from fuel and energy-related activities, purchased goods and services, and upstream and downstream transportation and distribution 10% of 2018 levels by 2025.
|Over a quarter ago|
Celestica files automatic mixed securities shelf 11:4908/0608/06/20
Celestica price target raised to $8.50 from $7 at BMO Capital » 12:1807/3007/30/20
BMO Capital analyst…
BMO Capital analyst Thanos Moschopoulos raised the firm's price target on Celestica to $8.50 from $7 and keeps a Market Perform rating on the shares following "strong" Q2 earnings results.
Celestica upgraded to Buy from Hold at Canaccord » 08:5207/3007/30/20
Canaccord analyst Robert…
Canaccord analyst Robert Young upgraded Celestica to Buy from Hold with a price target of $10, up from $6.50. The analyst is more confident in its margin rebound after delivering better than expected Q2 results despite COVID-19. He believes Q3 will be inline with Q2 which is also ahead of expectations as the company suggested supply chain headwinds are relenting and utilization is improving as operations stabilize.
Celestica expects Q3 results to 'be largely in line' with Q2 results » 07:2907/2907/29/20
The company said,…
The company said, "We are not providing specific financial guidance for the third quarter of 2020 at this time. Due to the size and geographic diversity of our network, the persistence and potential resurgence of the pandemic, and the variability of governmental responses, significant uncertainty continues with respect to the future impact of COVID-19 on our customers, our supply base and our business. However, we currently anticipate that our Q3 2020 results will be largely in line with our Q2 2020 results, should conditions neither improve, nor deteriorate further."
Celestica see 2020 total restructuring costs approx. $30M » 07:2907/2907/29/20
The company said,…
The company said, "Although we continue to estimate that restructuring charges in connection with our Cisco Disengagement will be lower than originally anticipated, as previously disclosed, we intend to take additional restructuring actions in 2020 to adjust our cost base in response to shifting demand, due in part to the impact of COVID-19. In connection therewith we currently anticipate that total restructuring costs in 2020 for this expanded program will be approximately $30 million. We expect to substantially complete this restructuring program by the end of 2020. We recorded a total of $15.3 million in restructuring charges during the first half of 2020, including $7.3 million of restructuring charges recorded in Q2 2020. Our restructuring charges for Q2 2020 included actions to right-size our commercial aerospace facilities and industrial business in response to the ongoing reductions in demand described above. We expect these commercial aerospace and industrial business restructuring efforts to continue into Q3 2020."