Celestica Posts Revenue of $1.45 Billion in 2Q19


Reading time ( words)

Celestica Inc. has announced revenue of $1.45 billion, at the midpoint of our Q2 2019 guidance range of $1.4 to $1.5 billion, decreased 15% compared to $1.70 billion for the second quarter of 2018.

"Celestica delivered second quarter results in line with our guidance, including another quarter of strong non-IFRS free cash flow," said Rob Mionis, President and CEO. "Our CCS segment delivered improved sequential and year-to-year margin performance and we continue to progress on our portfolio optimization actions."

"While the ongoing weak demand in our Capital Equipment business continues to adversely impact our ATS segment performance, our other ATS businesses are performing well, as we ramp new programs and continue to drive productivity. Despite the volatility, we believe that capital equipment remains an attractive market in the long term, and that we have the right strategy, relationships and capabilities in place to be successful in this business in future periods."

"As we navigate the challenging demand environment, we remain committed to executing our transformation plan. We believe that the end result will be a more diversified business, capable of delivering consistent, profitable growth."

Restructuring Update

We have recorded approximately $60 million in restructuring charges from the commencement of our cost efficiency initiative through the end of Q2 2019, including $9.0 million of restructuring charges recorded in Q2 2019. Based on current plans, we estimate total restructuring charges for this initiative to be at the high end of our previously disclosed range of $50 - $75 million, and continue to expect the remainder of the charges to be recorded by the end of 2019.

About Celestica

Celestica enables the world's best brands. Through our recognized customer-centric approach, we partner with leading companies in aerospace and defense, communications, enterprise, healthtech, industrial, capital equipment, and smart energy to deliver solutions for their most complex challenges. As a leader in design, manufacturing, hardware platform and supply chain solutions, Celestica brings global expertise and insight at every stage of product development - from the drawing board to full-scale production and after-market services. With talented teams across North America, Europe and Asia, we imagine, develop and deliver a better future with our customers.

Share

Print


Suggested Items

Process Ionic Contamination Test (PICT) Standard Roundtable With Industry Experts

04/22/2020 | I-Connect007
With standards committees set to release the first of four new test standards, industry experts discussed the process ionic contamination test (PICT) standard, which was recently approved by the IEC for publication. Roundtable participants included Teresa Rowe, senior director of assembly and standards technology at IPC, Graham Naisbitt, chairman and CEO of Gen3, Jason Keeping, corporate process development at Celestica, and Doug Pauls, principal materials and process engineer at Collins Aerospace.

SMTA Europe’s Electronics in Harsh Environments Conference and Exhibition: A Taste of Things to Come

04/14/2020 | Pete Starkey, I-Connect007
SMTA Europe’s Electronics in Harsh Environments Conference has become a must-attend annual event; unfortunately, it also became another casualty of the COVID-19 lockdown. Scheduled to take place in Amsterdam, the Netherlands, from April 21–23, 2020, it has now been postponed until December 1–3. Pete Starkey reports on a preview seminar presented by SMTA Europe.

This Month in SMT007 Magazine: Exclusive Interview With Burt Rutan, Aerospace Legend

04/03/2020 | I-Connect007 Editorial Team
If you follow advancements in aerospace technologies and expeditions, then you know the name Burt Rutan. Described by Newsweek as “the man responsible for more innovations in modern aviation than any living engineer,” Rutan is a bold visionary with a passion for the advancement of technology, who has designed 46 aircraft throughout his career. Following his IPC APEX EXPO keynote presentation, Rutan stopped by the I-Connect007 booth and shared his thoughts on a wide variety of topics.



Copyright © 2020 I-Connect007. All rights reserved.