Analyst Consensus ?
ConsensusBuy27 ratings
Bullish1970.4%
Neutral829.6%
Bearish00.0%
Celestica Inc. · CLS · FY2025 Q3 · Calendar Q4 2025
Celestica Raises 2025 Outlook as AI Networking Demand Accelerates
The quarter supports a growth case centered on hyperscaler investment in AI data-center networking: management described accelerating demand, raised its 2025 outlook, and is expanding capacity and engineering for higher-speed switches. The case depends on converting the pipeline into sustained revenue and preserving margins while scaling.
Reported After market closeNYSETechnology
$31.43B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.58
Consensus $1.47
EPS surprise
+7.5%
Reported versus consensus
Reported revenue
$3.16B
Consensus $3.49B
Revenue surprise
-9.5%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+8.2%
Event window
SPY move
+0.3%
Same window
Abnormal move
+7.9%
Stock minus SPY
Volume
2.8×
Versus trailing sessions
Subsequent drift
+0.4%
Up to 20 sessions
CLSSPY benchmark
Ask FN2 about CLS FY2025 Q3
Transcript, numbers and history already loaded
Why did CLS rise 8.2% after beating EPS estimates in FY2025 Q3?What changed in CLS's guidance and outlook in FY2025 Q3?Give me the bull and bear case for CLS after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with Q2, management described stronger momentum in high-performance networking and expanded its roadmap around 1.6T switches, liquid-cooled products, and future 3.2T development. The Q3 analysis reports record results and another increase to full-year guidance. The scorecard indicates EPS exceeded consensus while revenue was below consensus, so the quarter was not uniformly ahead of expectations.
Guidance delta
Management raised its FY2025 outlook to $12.2 billion in revenue and $5.90 in adjusted EPS, according to the supplied call analysis. The analysis attributes the outlook to demand for data-center switches and AI infrastructure.
Key takeaways
- Q3 performance was described as a company record, with the highest non-GAAP operating margin reported to date.
- Management raised FY2025 revenue and adjusted EPS guidance; supplied consensus comparisons show an EPS beat but a revenue miss.
- The HPS portfolio, including 800G and 1.6T switches, is the primary growth engine, with management citing a pipeline extending through 2027.
- Planned investments include Texas and Thailand capacity, increased R&D, liquid-cooling products, and development of next-generation switches.
Management priorities
- Scale 800G and 1.6T Ethernet switch programs and prepare for the 3.2T roadmap.
- Expand manufacturing capacity in Texas and Thailand to support customer programs.
- Increase R&D and engineering capabilities, including liquid-cooled systems and SONiC-based services.
- Maintain capital discipline while funding growth and capacity additions.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$249.22Previous close
$58Low
$363.19Average
$520High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Nov 3, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Buy | Buy | Maintain | Oct 28, 2026 |
| Citigroup | Buy | Buy | Maintain | Oct 28, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 28, 2026 |
| Wolfe Research | Outperform | Outperform | Maintain | Jul 29, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 29, 2026 |
| TD Cowen | Buy | Hold | Upgrade | Apr 29, 2026 |
| Susquehanna | Positive | Positive | Maintain | Apr 29, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Apr 29, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Apr 24, 2026 |
| B of A Securities | Buy | Buy | Maintain | Apr 20, 2026 |
| CIBC | Outperform | Outperform | Maintain | Mar 11, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Dec 1, 2025 |
| TD Securities | Hold | Hold | Maintain | Oct 29, 2025 |
| Stifel | Buy | Buy | Maintain | Oct 29, 2025 |
| Canaccord Genuity | Buy | Buy | Maintain | Jul 30, 2025 |
| Argus Research | Buy | Buy | Maintain | Apr 29, 2025 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Jul 30, 2020 |
| Macquarie | Neutral | Outperform | Downgrade | Feb 1, 2019 |
| B. Riley FBR | Neutral | Neutral | Maintain | May 5, 2018 |
| Stifel Nicolaus | Hold | Hold | Maintain | Jan 25, 2018 |
| Standpoint Research | Buy | Hold | Upgrade | Aug 17, 2017 |
| Scotia Howard Weil | Sector Outperform | Sector Perform | Upgrade | Jan 29, 2016 |
| B. Riley Securities | Neutral | Neutral | Maintain | Jan 28, 2016 |
| Raymond James | Market Perform | Outperform | Downgrade | Jun 24, 2014 |
| Salman Partners | Buy | Hold | Upgrade | Oct 23, 2013 |
| Paradigm Capital | Buy | Hold | Upgrade | Oct 23, 2013 |
| Deutsche Bank | Hold | Hold | Maintain | Jan 23, 2013 |
Named analyst price targets
Upside is calculated against the persisted previous close $249.22. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Analyst unavailable | $414 | $276.07 | +66.1% | Oct 28, 2026 |
| Goldman Sachs | Michael Ng | $435 | $276.07 | +74.5% | Oct 28, 2026 |
| BMO Capital | Thanos Moschopoulos | $400 | $263.23 | +60.5% | Oct 23, 2026 |
| Bernstein | Daniel Zhu | $520 | $366.47 | +108.7% | Sep 30, 2026 |
| FBN Securities | Shebly Seyrafi | $375 | $316.08 | +50.5% | Sep 15, 2026 |
| UBS | David Vogt | $430 | $296.55 | +72.5% | Aug 24, 2026 |
| Barclays | Tim Long | $406 | $314.53 | +62.9% | Aug 7, 2026 |
| RBC Capital | Paul Treiber | $450 | $328.43 | +80.6% | Jul 29, 2026 |
| CIBC | Analyst unavailable | $500 | $319.57 | +100.6% | Jul 29, 2026 |
| UBS | David Vogt | $410 | $334.83 | +64.5% | Jul 29, 2026 |
| Barclays | Analyst unavailable | $430 | $350.2 | +72.5% | Jul 29, 2026 |
| Wolfe Research | George Notter | $475 | $350.2 | +90.6% | Jul 29, 2026 |
| Stifel Nicolaus | Analyst unavailable | $500 | $350.08 | +100.6% | Jul 28, 2026 |
| Redburn Partners | Analyst unavailable | $460 | $409.59 | +84.6% | May 1, 2026 |
| CIBC | Analyst unavailable | $480 | $367.13 | +92.6% | Apr 29, 2026 |
| RBC Capital | Paul Treiber | $440 | $360.16 | +76.6% | Apr 29, 2026 |
| Susquehanna | Analyst unavailable | $510 | $361.71 | +104.6% | Apr 29, 2026 |
| TD Securities | Analyst unavailable | $430 | $361.71 | +72.5% | Apr 29, 2026 |
| Barclays | Tim Long | $441 | $361.71 | +77.0% | Apr 29, 2026 |
| Goldman Sachs | Analyst unavailable | $475 | $361.71 | +90.6% | Apr 28, 2026 |
| Stifel Nicolaus | Ruben Roy | $445 | $361.71 | +78.6% | Apr 28, 2026 |
| BMO Capital | Analyst unavailable | $450 | $405.75 | +80.6% | Apr 24, 2026 |
| TD Securities | Analyst unavailable | $350 | $396.01 | +40.4% | Apr 20, 2026 |
| CIBC | Todd Coupland | $360 | $267.23 | +44.5% | Mar 11, 2026 |
| Barclays | Analyst unavailable | $391 | $300 | +56.9% | Jan 30, 2026 |
| Barclays | Analyst unavailable | $359 | $292.75 | +44.0% | Nov 14, 2025 |
| New Street | Analyst unavailable | $400 | $346.25 | +60.5% | Oct 29, 2025 |
| RBC Capital | Analyst unavailable | $400 | $346.69 | +60.5% | Oct 29, 2025 |
| UBS | Analyst unavailable | $350 | $345.86 | +40.4% | Oct 29, 2025 |
| Stifel Nicolaus | Analyst unavailable | $385 | $326.45 | +54.5% | Oct 29, 2025 |
| TD Securities | Analyst unavailable | $305 | $341.18 | +22.4% | Oct 29, 2025 |
| BMO Capital | Analyst unavailable | $370 | $326.45 | +48.5% | Oct 29, 2025 |
| Goldman Sachs | Michael Ng | $440 | $326.45 | +76.6% | Oct 29, 2025 |
| Barclays | Tim Long | $357 | $326.45 | +43.2% | Oct 29, 2025 |
| RBC Capital | Paul Treiber | $315 | $264.69 | +26.4% | Oct 22, 2025 |
| CIBC | Analyst unavailable | $315 | $273 | +26.4% | Oct 20, 2025 |
| TD Securities | Analyst unavailable | $238 | $250.91 | -4.5% | Oct 3, 2025 |
| BNP Paribas | Analyst unavailable | $300 | $244.64 | +20.4% | Sep 25, 2025 |
| UBS | Analyst unavailable | $208 | $202.41 | -16.5% | Jul 30, 2025 |
| Stifel Nicolaus | Ruben Roy | $140 | $120.88 | -43.8% | Feb 3, 2025 |
| RBC Capital | Paul Treiber | $140 | $123.47 | -43.8% | Jan 31, 2025 |
| BMO Capital | Thanos Moschopoulos | $72 | $66.51 | -71.1% | Oct 24, 2024 |
| RBC Capital | Maxim Matushansky | $75 | $57.47 | -69.9% | Oct 24, 2024 |
| Argus Research | Kristina Ruggeri | $58 | $52.67 | -76.7% | Jul 26, 2024 |
| Stifel Nicolaus | Matthew Sheerin | $58 | $51.07 | -76.7% | Jul 26, 2024 |
| Canaccord Genuity | Robert Young | $70 | $51.07 | -71.9% | Jul 26, 2024 |
| US Capital Advisors | Steven Fox | $60 | $48 | -75.9% | May 15, 2024 |
| Stifel Nicolaus | Matthew Sheerin | $51 | $46.99 | -79.5% | May 13, 2024 |
Track every rating change on CLS the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationHeadquartered in Toronto, Canada, and established in 1994, Celestica Inc. delivers comprehensive hardware platform and supply chain solutions to clients across North America, Europe, and Asia. The company operates through two key segments: Advanced Technology Solutions and Connectivity & Cloud Solutions. Celestica's extensive service portfolio encompasses the entire product lifecycle, from initial design and development, engineering, and supply chain management to new product introduction, component sourcing, electronic manufacturing and assembly, rigorous testing, complex mechanical integration, and systems integration.…
Historical context
All CLS earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| TSEM Tower Semiconductor Ltd. | FY2026 Q3 · Calendar Q4 2026 | +7.5% | -6.7% | Tower Semiconductor posts record Q3 as silicon photonics expansion advances |
| AAPL Apple Inc. | FY2026 Q4 · Calendar Q4 2026 | +3.0% | -1.8% | Apple posts a record quarter as cost and supply pressures persist |
| PLTR Palantir Technologies Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.3% | -3.1% | Palantir raises FY2026 outlook as revenue growth accelerates |
| ON ON Semiconductor Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.5% | -2.2% | ON Semiconductor: AI power demand leads, Q4 outlook upbeat |
| CHKP Check Point Software Technologies Ltd. | FY2026 Q3 · Calendar Q4 2026 | +0.4% | -7.0% | Check Point Sees Q3 as Revenue Trough, While Subscriptions Grow |
| FN Fabrinet | FY2027 Q1 · Calendar Q4 2026 | +3.3% | -3.8% | Fabrinet posts 51% growth as capacity expansion accelerates |
Latest beats and misses
Who reports nextBeat on EPS
- TSEMFY2026 Q3 · November 2, 2026+7.5% EPS-6.7% move
- CLXFY2027 Q1 · November 2, 2026+44.9% EPS+2.2% move
- AAPLFY2026 Q4 · November 2, 2026+3.0% EPS-1.8% move
- PLTRFY2026 Q3 · November 2, 2026+8.3% EPS-3.1% move
- ETRFY2026 Q3 · November 2, 2026+14.5% EPS-0.2% move
- OFY2026 Q3 · November 2, 2026+5.7% EPS+1.1% move
Missed on EPS
- VRTXFY2026 Q3 · November 2, 2026-1.2% EPS-1.0% move
- PEGFY2026 Q3 · November 2, 2026-3.4% EPS+0.1% move
- RYAAYFY2027 Q2 · November 2, 2026-0.3% EPS+2.9% move
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
Get the CLS recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-03T11:20:46.456572+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-03T11:20:46.453847+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-03. For educational purposes only; not investment advice.