Analyst Consensus ?
ConsensusBuy27 ratings
Bullish1970.4%
Neutral829.6%
Bearish00.0%
Celestica Inc. · CLS · FY2026 Q2 · Calendar Q3 2026
Celestica raises 2026 outlook as hyperscaler demand accelerates
Celestica's Q2 analysis supports a constructive near-term growth case: record results, stronger 2026 guidance and rising hyperscaler and AI infrastructure demand point to continued momentum. The counterweight is execution risk as the company expands capacity, manages supply constraints and absorbs a changing program mix.
Reported After market closeNYSETechnology
$34.82B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.54
Consensus $2.29
EPS surprise
+10.9%
Reported versus consensus
Reported revenue
$4.67B
Consensus $4.30B
Revenue surprise
+8.6%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+10.0%
Event window
SPY move
+0.2%
Same window
Abnormal move
+9.8%
Stock minus SPY
Volume
4.0×
Versus trailing sessions
Subsequent drift
-12.4%
Up to 20 sessions
CLSSPY benchmark
Ask FN2 about CLS FY2026 Q2
Transcript, numbers and history already loaded
Why did CLS rise 10.0% after beating EPS estimates in FY2026 Q2?What changed in CLS's guidance and outlook in FY2026 Q2?Give me the bull and bear case for CLS after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The company delivered record Q2 results, exceeded the high end of guidance and raised full-year 2026 revenue guidance to $20.5 billion, with EPS guidance raised to $11.30. The call also added a strategic systems partnership with OpenAI for custom AI accelerator racks and the Jalapeno accelerator.
Guidance delta
Raised full-year 2026 revenue outlook to $20.5 billion and EPS outlook to $11.30; prior-quarter analysis had cited $19 billion of revenue and $10.15 of EPS.
Key takeaways
- Q2 revenue was $4.7 billion and adjusted EPS was $2.54, both above the high end of guidance.
- Growth drivers include 800G and 1.6 Tb networking, AI/ML compute programs, and wins with OpenAI and AMD.
- Management cited supply-chain mitigation, but high inventory, mix, capacity expansion and regional manufacturing remain important watchpoints.
Management priorities
- Ramp 1.6 Tb switch programs in the second half of 2026.
- Deliver custom AI accelerator racks for OpenAI and ramp AMD Helios.
- Expand capacity in Thailand, Japan and Texas while managing approximately $1 billion of 2026 capex and $1.5 billion planned for 2027.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$276.54Previous close
$58Low
$363.96Average
$520High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 28, 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 | Neutral | Upgrade | Aug 24, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 7, 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 |
| Citigroup | Buy | Buy | 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 $276.54. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| BMO Capital | Thanos Moschopoulos | $400 | $263.23 | +44.6% | Oct 23, 2026 |
| Bernstein | Daniel Zhu | $520 | $366.47 | +88.0% | Sep 30, 2026 |
| FBN Securities | Shebly Seyrafi | $375 | $316.08 | +35.6% | Sep 15, 2026 |
| UBS | David Vogt | $430 | $296.55 | +55.5% | Aug 24, 2026 |
| Barclays | Tim Long | $406 | $314.53 | +46.8% | Aug 7, 2026 |
| RBC Capital | Paul Treiber | $450 | $328.43 | +62.7% | Jul 29, 2026 |
| CIBC | Analyst unavailable | $500 | $319.57 | +80.8% | Jul 29, 2026 |
| UBS | David Vogt | $410 | $334.83 | +48.3% | Jul 29, 2026 |
| Barclays | Analyst unavailable | $430 | $350.2 | +55.5% | Jul 29, 2026 |
| Wolfe Research | George Notter | $475 | $350.2 | +71.8% | Jul 29, 2026 |
| Stifel Nicolaus | Analyst unavailable | $500 | $350.08 | +80.8% | Jul 28, 2026 |
| Redburn Partners | Analyst unavailable | $460 | $409.59 | +66.3% | May 1, 2026 |
| CIBC | Analyst unavailable | $480 | $367.13 | +73.6% | Apr 29, 2026 |
| RBC Capital | Paul Treiber | $440 | $360.16 | +59.1% | Apr 29, 2026 |
| Susquehanna | Analyst unavailable | $510 | $361.71 | +84.4% | Apr 29, 2026 |
| TD Securities | Analyst unavailable | $430 | $361.71 | +55.5% | Apr 29, 2026 |
| Barclays | Tim Long | $441 | $361.71 | +59.5% | Apr 29, 2026 |
| Goldman Sachs | Analyst unavailable | $475 | $361.71 | +71.8% | Apr 28, 2026 |
| Stifel Nicolaus | Ruben Roy | $445 | $361.71 | +60.9% | Apr 28, 2026 |
| BMO Capital | Analyst unavailable | $450 | $405.75 | +62.7% | Apr 24, 2026 |
| TD Securities | Analyst unavailable | $350 | $396.01 | +26.6% | Apr 20, 2026 |
| CIBC | Todd Coupland | $360 | $267.23 | +30.2% | Mar 11, 2026 |
| Barclays | Analyst unavailable | $391 | $300 | +41.4% | Jan 30, 2026 |
| Barclays | Analyst unavailable | $359 | $292.75 | +29.8% | Nov 14, 2025 |
| New Street | Analyst unavailable | $400 | $346.25 | +44.6% | Oct 29, 2025 |
| RBC Capital | Analyst unavailable | $400 | $346.69 | +44.6% | Oct 29, 2025 |
| UBS | Analyst unavailable | $350 | $345.86 | +26.6% | Oct 29, 2025 |
| Stifel Nicolaus | Analyst unavailable | $385 | $326.45 | +39.2% | Oct 29, 2025 |
| TD Securities | Analyst unavailable | $305 | $341.18 | +10.3% | Oct 29, 2025 |
| BMO Capital | Analyst unavailable | $370 | $326.45 | +33.8% | Oct 29, 2025 |
| Goldman Sachs | Michael Ng | $440 | $326.45 | +59.1% | Oct 29, 2025 |
| Barclays | Tim Long | $357 | $326.45 | +29.1% | Oct 29, 2025 |
| RBC Capital | Paul Treiber | $315 | $264.69 | +13.9% | Oct 22, 2025 |
| CIBC | Analyst unavailable | $315 | $273 | +13.9% | Oct 20, 2025 |
| TD Securities | Analyst unavailable | $238 | $250.91 | -13.9% | Oct 3, 2025 |
| BNP Paribas | Analyst unavailable | $300 | $244.64 | +8.5% | Sep 25, 2025 |
| UBS | Analyst unavailable | $208 | $202.41 | -24.8% | Jul 30, 2025 |
| Stifel Nicolaus | Ruben Roy | $140 | $120.88 | -49.4% | Feb 3, 2025 |
| RBC Capital | Paul Treiber | $140 | $123.47 | -49.4% | Jan 31, 2025 |
| BMO Capital | Thanos Moschopoulos | $72 | $66.51 | -74.0% | Oct 24, 2024 |
| RBC Capital | Maxim Matushansky | $75 | $57.47 | -72.9% | Oct 24, 2024 |
| Argus Research | Kristina Ruggeri | $58 | $52.67 | -79.0% | Jul 26, 2024 |
| Stifel Nicolaus | Matthew Sheerin | $58 | $51.07 | -79.0% | Jul 26, 2024 |
| Canaccord Genuity | Robert Young | $70 | $51.07 | -74.7% | Jul 26, 2024 |
| US Capital Advisors | Steven Fox | $60 | $48 | -78.3% | May 15, 2024 |
| Stifel Nicolaus | Matthew Sheerin | $51 | $46.99 | -81.6% | 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 |
|---|---|---|---|---|
| MANH Manhattan Associates, Inc. | FY2026 Q3 · Calendar Q4 2026 | +6.2% | -1.0% | Manhattan Associates Q3: Cloud Growth and RPO Lift Outlook |
| FFIV F5, Inc. | FY2026 Q4 · Calendar Q4 2026 | +3.8% | -0.5% | F5: AI security momentum supports FY27 growth plan, with spending rising |
| LOGI Logitech International S.A. | FY2027 Q2 · Calendar Q4 2026 | +12.7% | +1.8% | Logitech sustains growth, but supply constraints lower near-term outlook |
| GLW Corning Inc | FY2026 Q3 · Calendar Q4 2026 | +3.3% | -1.1% | Corning Q3: Optical growth leads, solar remains a drag |
| STX Seagate Technology Holdings plc | FY2027 Q1 · Calendar Q4 2026 | +3.1% | +3.7% | Seagate posts record quarter as HAMR and AI storage demand accelerate |
| NXPI NXP Semiconductors N.V. | FY2026 Q3 · Calendar Q4 2026 | — | +3.1% | NXP posts strong Q3 as SDV and AI demand drive growth |
Latest beats and misses
Who reports nextBeat on EPS
- MANHFY2026 Q3 · October 27, 2026+6.2% EPS-1.0% move
- TRUFY2026 Q3 · October 27, 2026+3.3% EPS-5.3% move
- CMSFY2026 Q3 · October 27, 2026+6.7% EPS-0.8% move
- PNRFY2026 Q3 · October 27, 2026+9.3% EPS+12.8% move
- CNPFY2026 Q3 · October 27, 2026+6.3% EPS+1.9% move
- ECLFY2026 Q3 · October 27, 20260.0% EPS+0.8% move
Missed on EPS
- ARCCFY2026 Q3 · October 27, 2026-3.4% EPS-0.5% move
- WSOFY2026 Q3 · October 27, 2026-8.0% EPS-1.4% move
- IVZFY2026 Q3 · October 27, 2026-2.7% EPS-0.4% move
- SHWFY2026 Q3 · October 27, 2026-1.6% EPS-2.7% move
- BAFY2026 Q3 · October 27, 2026-33.4% EPS-10.7% move
- AREFY2026 Q3 · October 26, 2026-13401.8% EPS-5.9% move
Get the CLS recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-07-28T15:06:35.884270+00:00
- FN2 earnings calendar · 2026-09-01T01:23:15.986970+00:00
- Polygon adjusted daily market bars · 2026-10-28T09:30:41.001409+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-28T09:30:40.998561+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 2026-10-28. For educational purposes only; not investment advice.