Celestica, Inc. - CLS STOCK NEWS

Celestica Inc. (NYSE, TSX: CLS) has announced its Annual Shareholders Meeting will take place virtually on April 28, 2022, at 9:30 a.m. EDT, due to ongoing COVID-19 concerns. The record date for shareholders entitled to vote at the meeting is set for March 11, 2022. This year, Celestica will utilize the notice-and-access method for delivering proxy materials, which shareholders can expect to receive by late March. Proxy information will also be available on the company's website and on SEDAR and EDGAR profiles.

Celestica reported strong Q4 results for 2021 with revenue of $1.5 billion, up 9% year-over-year. The company achieved a non-IFRS adjusted EPS of $0.44, the highest in over 20 years, supported by a record operating margin of 4.9%. The ATS segment led growth with a 23% revenue increase. For Q1 2022, guidance estimates revenue between $1.4 billion to $1.55 billion with adjusted EPS projected at $0.31 to $0.37. For the full year, a revenue target of at least $6.3 billion is anticipated, pending supply chain constraints remaining stable.

Celestica Inc. (NYSE: CLS) announced it will host its fourth quarter 2021 financial results conference call on January 27, 2022, at 8:00 AM EST. Financial results will be released after market close on January 26, 2022.

The event will include a webcast accessible via Celestica's Investor Relations portal. An audio replay will be available post-call.

Celestica focuses on design, manufacturing, and supply chain solutions for sectors including Aerospace, Defense, and HealthTech.

Celestica Inc. (NYSE: CLS) has enhanced its credit facility, increasing its borrowing capacity with favorable terms. The company now has $660.4 million in term loans outstanding, up from $440.4 million as of September 30, 2021. Key amendments include a new term loan of $365 million, an increase in the Revolver commitments from $450 million to $600 million, and an extension of maturity dates. Proceeds from the new term loan were used to repay previous debts, ensuring improved financial flexibility.

Celestica announced its acceptance by the Toronto Stock Exchange to launch a Normal Course Issuer Bid aimed at repurchasing up to 8,987,310 subordinate voting shares from December 6, 2021, to December 5, 2022. This number represents approximately 10% of the company's public float. The repurchase will be funded by cash resources and a credit facility, with shares to be canceled post-purchase. Previously, Celestica repurchased 4,377,739 shares at an average price of US$8.21 under an expired bid.

Celestica Inc. (NYSE: CLS) reaffirms its financial guidance for Q4 2021 despite global supply chain challenges. The company reports a strong demand across most end markets, attributing its stability to the dedication of its global team. CEO Rob Mionis is optimistic about achieving top-line growth and a record quarterly non-IFRS operating margin, with a positive outlook for 2022. The company emphasizes its commitment to supporting customer needs and executing strategic objectives, underscoring a promising trajectory as it concludes the fiscal year.

Celestica has finalized the acquisition of Singapore-based PCI Private Limited, an electronics manufacturing services provider, enhancing its operational capabilities in Asia. This strategic move aims to bolster Celestica's presence in key markets and diversify its customer base, leveraging PCI's 50 years of expertise. The acquisition, valued at $220 million, was funded using available cash and borrowings under Celestica's credit facility. This aligns with Celestica's high-growth strategy, optimizing its Advanced Technology Solutions portfolio and integrating PCI's resources to expand product development across various sectors.