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Celestica’s $5.83 Billion Quarter — Why Did Revenue Surge 83% While Cash Flow Expectations Fell?

Celestica Inc. reported strong financial performance in the third quarter of 2026, driven by robust demand across its business segments and solid operational execution. The company’s revenue reached $5.83 billion, representing an 83% increase year-over-year and surpassing the high end of its guidance. This growth was largely fueled by the Connectivity and Cloud Solutions (CCS) segment, which accounted for 84% of total revenue and grew by 102%, supported by strong performances in both the networking and compute and storage end markets. The Advanced Technology Solutions (ATS) segment also contributed with a 23% revenue increase, exceeding its mid-teens growth expectation. Operating margins improved, with the company posting a record non-GAAP operating margin of 8.5%, driven by operating leverage in both segments, resulting in adjusted earnings per share of $3.30, a 109% increase from the prior year.