Research · Oct 29, 2026
AI Rack Contract Manufacturing Boosts Capex for Liquid-Cooled Testing
Celestica capex rose to 4.7% of revenue from 1.2% as contract manufacturers add factory power to test liquid-cooled AI racks, while ASMPT SMT bookings rose 122%.
Research · Oct 29, 2026
Celestica (CLS) Q3 2026 Earnings: AI Compute Beats Guidance, Margin Dips
Celestica Q3 2026 revenue rose 83% to $5.83 billion as AI compute and networking beat guidance, but gross margin fell to 11.2% and the free cash flow target was cut to $460 million.
Research · Oct 22, 2026
[CLS] Celestica: Q3 2026 Earnings Test AI Rack Ramp and Gross Margin
Celestica grew Q2 2026 revenue 62% to $4.70B with an 8.2% adjusted operating margin; Q3 tests whether ~190% AI rack growth can hold gross margin at 11.5%.
Research · Sep 3, 2026
[CLS] Celestica Thesis 2026: Hyperscale Power Systems Surge Defines New Business Identity
Celestica FY25 (Dec 31, 2025) at $12.61B revenue (+31%). NI $847M; EPS $7.29 (+102%); adj EPS $6.05 (+56%). Q4 CCS segment $2.86B (+64%); HPS sub-segment $1.4B (+72%). Q4 ATS 5.3% margin / CCS 8.4% margin. FY26 guide raised meaningfully: revenue $17B (+35%), adj EPS $8.75 (+45%), FCF $500M. CCS revenue ~50% growth FY26.
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