Analyst Consensus ?
ConsensusBuy27 ratings
Bullish1970.4%
Neutral829.6%
Bearish00.0%
Celestica Inc. · CLS · FY2025 Q4 · Calendar Q1 2026
Celestica raises 2026 outlook as AI-networking demand drives record Q4
The supplied Q4 analysis supports a growth case built on AI-related data-center demand, hyperscaler programs and higher-speed networking, reinforced by raised 2026 guidance. The key test is whether growth can translate into durable margins and free cash flow as the company funds a substantial capacity build and remains exposed to large customers and supply constraints.
Reported After market closeNYSETechnology
$33.49B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.89
Consensus $1.74
EPS surprise
+8.6%
Reported versus consensus
Reported revenue
$3.61B
Consensus $3.51B
Revenue surprise
+2.7%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-13.1%
Event window
SPY move
-0.2%
Same window
Abnormal move
-12.9%
Stock minus SPY
Volume
3.4×
Versus trailing sessions
Subsequent drift
-7.5%
Up to 20 sessions
CLSSPY benchmark
Ask FN2 about CLS FY2025 Q4
Transcript, numbers and history already loaded
Why did CLS fall 13.1% after beating EPS estimates in FY2025 Q4?What changed in CLS's guidance and outlook in FY2025 Q4?Give me the bull and bear case for CLS after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, management's outlook moved from a 2025 growth focus to a raised 2026 revenue and EPS outlook, alongside a $1 billion 2026 capex plan. The latest analysis emphasizes stronger CCS growth, hyperscaler programs and new design capacity, while also identifying greater execution and cash-flow demands. The supplied event reaction was sharply negative despite reported EPS and revenue exceeding estimates, underscoring a disconnect between reported results and the market response in this window.
Guidance delta
Management raised its 2026 outlook to $17 billion in revenue and $8.75 in EPS; the $500 million free-cash-flow target was unchanged. The analysis also notes a $1 billion 2026 capex plan.
Key takeaways
- Q4 2025 revenue and adjusted EPS exceeded the high end of guidance, with adjusted operating margin at 7.7%, according to the supplied analysis.
- CCS growth, including 800G switch programs and enterprise AI/ML compute ramps, was a central growth driver.
- Management raised 2026 revenue and EPS outlook while maintaining its free-cash-flow target.
- Capacity expansion and 1.6 Tbps networking programs are intended to support hyperscaler and data-center demand. The supplied event reaction was negative.
Management priorities
- Expand manufacturing and design capacity across the locations identified in the supplied analysis.
- Advance 1.6 Tbps networking programs and deepen hyperscaler relationships, including Google.
- Fund the 2026 capacity plan while pursuing the stated free-cash-flow target.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$265.53Current
$58Low
$363.19Average
$520High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 2, 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 current price $265.53. 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 | +55.9% | Oct 28, 2026 |
| Goldman Sachs | Michael Ng | $435 | $276.07 | +63.8% | Oct 28, 2026 |
| BMO Capital | Thanos Moschopoulos | $400 | $263.23 | +50.6% | Oct 23, 2026 |
| Bernstein | Daniel Zhu | $520 | $366.47 | +95.8% | Sep 30, 2026 |
| FBN Securities | Shebly Seyrafi | $375 | $316.08 | +41.2% | Sep 15, 2026 |
| UBS | David Vogt | $430 | $296.55 | +61.9% | Aug 24, 2026 |
| Barclays | Tim Long | $406 | $314.53 | +52.9% | Aug 7, 2026 |
| RBC Capital | Paul Treiber | $450 | $328.43 | +69.5% | Jul 29, 2026 |
| CIBC | Analyst unavailable | $500 | $319.57 | +88.3% | Jul 29, 2026 |
| UBS | David Vogt | $410 | $334.83 | +54.4% | Jul 29, 2026 |
| Barclays | Analyst unavailable | $430 | $350.2 | +61.9% | Jul 29, 2026 |
| Wolfe Research | George Notter | $475 | $350.2 | +78.9% | Jul 29, 2026 |
| Stifel Nicolaus | Analyst unavailable | $500 | $350.08 | +88.3% | Jul 28, 2026 |
| Redburn Partners | Analyst unavailable | $460 | $409.59 | +73.2% | May 1, 2026 |
| CIBC | Analyst unavailable | $480 | $367.13 | +80.8% | Apr 29, 2026 |
| RBC Capital | Paul Treiber | $440 | $360.16 | +65.7% | Apr 29, 2026 |
| Susquehanna | Analyst unavailable | $510 | $361.71 | +92.1% | Apr 29, 2026 |
| TD Securities | Analyst unavailable | $430 | $361.71 | +61.9% | Apr 29, 2026 |
| Barclays | Tim Long | $441 | $361.71 | +66.1% | Apr 29, 2026 |
| Goldman Sachs | Analyst unavailable | $475 | $361.71 | +78.9% | Apr 28, 2026 |
| Stifel Nicolaus | Ruben Roy | $445 | $361.71 | +67.6% | Apr 28, 2026 |
| BMO Capital | Analyst unavailable | $450 | $405.75 | +69.5% | Apr 24, 2026 |
| TD Securities | Analyst unavailable | $350 | $396.01 | +31.8% | Apr 20, 2026 |
| CIBC | Todd Coupland | $360 | $267.23 | +35.6% | Mar 11, 2026 |
| Barclays | Analyst unavailable | $391 | $300 | +47.3% | Jan 30, 2026 |
| Barclays | Analyst unavailable | $359 | $292.75 | +35.2% | Nov 14, 2025 |
| New Street | Analyst unavailable | $400 | $346.25 | +50.6% | Oct 29, 2025 |
| RBC Capital | Analyst unavailable | $400 | $346.69 | +50.6% | Oct 29, 2025 |
| UBS | Analyst unavailable | $350 | $345.86 | +31.8% | Oct 29, 2025 |
| Stifel Nicolaus | Analyst unavailable | $385 | $326.45 | +45.0% | Oct 29, 2025 |
| TD Securities | Analyst unavailable | $305 | $341.18 | +14.9% | Oct 29, 2025 |
| BMO Capital | Analyst unavailable | $370 | $326.45 | +39.3% | Oct 29, 2025 |
| Goldman Sachs | Michael Ng | $440 | $326.45 | +65.7% | Oct 29, 2025 |
| Barclays | Tim Long | $357 | $326.45 | +34.4% | Oct 29, 2025 |
| RBC Capital | Paul Treiber | $315 | $264.69 | +18.6% | Oct 22, 2025 |
| CIBC | Analyst unavailable | $315 | $273 | +18.6% | Oct 20, 2025 |
| TD Securities | Analyst unavailable | $238 | $250.91 | -10.4% | Oct 3, 2025 |
| BNP Paribas | Analyst unavailable | $300 | $244.64 | +13.0% | Sep 25, 2025 |
| UBS | Analyst unavailable | $208 | $202.41 | -21.7% | Jul 30, 2025 |
| Stifel Nicolaus | Ruben Roy | $140 | $120.88 | -47.3% | Feb 3, 2025 |
| RBC Capital | Paul Treiber | $140 | $123.47 | -47.3% | Jan 31, 2025 |
| BMO Capital | Thanos Moschopoulos | $72 | $66.51 | -72.9% | Oct 24, 2024 |
| RBC Capital | Maxim Matushansky | $75 | $57.47 | -71.8% | Oct 24, 2024 |
| Argus Research | Kristina Ruggeri | $58 | $52.67 | -78.2% | Jul 26, 2024 |
| Stifel Nicolaus | Matthew Sheerin | $58 | $51.07 | -78.2% | Jul 26, 2024 |
| Canaccord Genuity | Robert Young | $70 | $51.07 | -73.6% | Jul 26, 2024 |
| US Capital Advisors | Steven Fox | $60 | $48 | -77.4% | May 15, 2024 |
| Stifel Nicolaus | Matthew Sheerin | $51 | $46.99 | -80.8% | 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 |
|---|---|---|---|---|
| INTC Intel Corp. | FY2026 Q3 · Calendar Q4 2026 | +27.9% | -28.6% | Intel: AI Server Demand Offsets PC Weakness, CapEx Rises |
| GDDY GoDaddy Inc. | FY2026 Q3 · Calendar Q4 2026 | +9.5% | +10.7% | GoDaddy: Airo accelerates while guidance is maintained |
| MPWR Monolithic Power Systems, Inc. | FY2026 Q3 · Calendar Q4 2026 | +5.1% | +1.1% | MPWR tops $1 billion in revenue as data-center demand accelerates |
| TWLO Twilio Inc. | FY2026 Q3 · Calendar Q4 2026 | +12.2% | -15.2% | Twilio raises growth outlook as AI and software adoption expand |
| SNDK Sandisk Corporation | FY2027 Q1 · Calendar Q4 2026 | +6.1% | -13.5% | SNDK: AI-driven NAND demand remains strong, but execution risks persist |
| RBLX Roblox Corporation | FY2026 Q3 · Calendar Q4 2026 | +26.2% | -18.1% | Roblox pairs strong engagement with lower Q4 bookings guidance |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- 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
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— 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 · 2026-11-01T23:20:42.376350+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-01T23:20:42.373128+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 2026-11-01. For educational purposes only; not investment advice.