Celestica reports 83% revenue surge driven by AI demand

Celestica Inc. reported a significant increase in third-quarter revenue, reaching $5.83 billion, an 83% rise compared to the same period last year. This growth was primarily driven by its Connectivity & Cloud Solutions segment, which saw revenue more than double to $4.87 billion due to high demand for artificial intelligence infrastructure and data center equipment.

Following these results, the company raised its full-year 2026 revenue forecast to $21 billion and its adjusted earnings per share outlook to $11.55. Celestica also set an ambitious long-term target of $40 billion in revenue for 2027.

Despite the revenue and earnings growth, the company lowered its free cash flow forecast to $460 million from an initial expectation of $600 million. Management attributed this reduction to increased capital requirements for upcoming expansion and working capital investments. To support its growth strategy, Celestica recently completed a public offering that raised $3.45 billion in gross proceeds.