Celestica Earnings: Here’s Why Investors Like These Results
Celestica Inc. (NYSE:CLS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.57%.
Celestica Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 0% to $0.22 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Decreased 14.31% to $1.5 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Celestica Inc. reported adjusted EPS income of $0.22 per share. By that measure, the company beat the mean analyst estimate of $0.17. It beat the average revenue estimate of $1.44 billion.
Quoting Management: “Celestica delivered a solid second quarter with revenue and adjusted EPS above our guidance range. We generated strong free cash flow and improved our return on invested capital, driven by stronger than expected demand in our communications end market,” said Craig Muhlhauser, Celestica President and Chief Executive Officer.
Key Stats (on next page)…
Revenue increased 8.93% from $1.37 billion in the previous quarter. EPS increased 37.5% from $0.16 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.2 and has not changed. For the current year, the average estimate has moved up from a profit of $0.76 to a profit of $0.77 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)