$CLS

CELESTICA INC

CIK:0001030894|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 4,698.6	$ 2,893.4	$ 8,745.6	$ 5,542.0
Cost of sales	4,121.1	2,522.4	7,730.9	4,897.1
Gross profit	577.5	371.0	1,014.7	644.9
Selling, general and administrative expenses	58.1	38.9	175.5	151.4
Research and development	46.3	34.0	87.5	51.6
Amortization of intangible assets	11.9	11.1	22.8	22.2
Restructuring and other charges (recoveries)	2.9	14.5	(1.5)	18.4
Earnings from operations	458.3	272.5	730.4	401.3
Finance costs	21.2	14.4	39.2	29.4
Interest income	(3.8)	(0.9)	(5.8)	(2.2)
Miscellaneous expense (income)	(0.7)	1.7	(0.9)	3.1
Earnings before income taxes	441.6	257.3	697.9	371.0
Income tax expense (recovery)
Current	94.8	61.2	165.4	88.8
Deferred	(22.0)	(14.9)	(48.6)	(15.0)
Income tax expense	72.8	46.3	116.8	73.8
Net earnings	$ 368.8	$ 211.0	$ 581.1	$ 297.2
Earnings per share:
Basic (in dollars per share)	$ 3.21	$ 1.83	$ 5.05	$ 2.57
Diluted (in dollars per share)	$ 3.17	$ 1.82	$ 5.01	$ 2.55
Weighted-average shares used in computing per share amounts (in millions):
Basic (in shares)	115.0	115.1	115.0	115.5
Diluted (in shares)	116.2	115.9	116.0	116.4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net earnings	$ 368.8	$ 211.0	$ 581.1	$ 297.2
Adjustments to reconcile net earnings to net cash flows provided by operating activities:
Depreciation and amortization	44.0	45.3	83.6	82.7
SBC	19.3	15.2	49.8	41.2
Total return swap (TRS) fair value adjustments	(104.1)	(97.4)	(87.1)	(78.3)
Restructuring and other charges (recoveries)	0.0	0.4	(10.0)	0.4
Unrealized losses on hedge derivatives	0.0	1.3	0.0	2.6
Deferred income taxes	(22.0)	(14.9)	(48.6)	(15.0)
Other	(3.7)	12.2	2.8	18.4
Changes in non-cash working capital items:
Accounts receivable	(170.8)	(151.9)	(700.1)	(218.8)
Inventories	(728.8)	(129.8)	(1,213.7)	(157.5)
Other current assets	(17.1)	(9.4)	12.7	(6.4)
Accounts payable, accrued and other current liabilities, provisions and income taxes payable	1,025.3	270.4	2,096.7	316.2
Net cash provided by operating activities	410.9	152.4	767.2	282.7
Investing activities:
Purchase of property, plant and equipment	(263.8)	(32.5)	(493.3)	(69.2)
Proceeds from sale of assets	0.0	0.0	11.1	0.0
Other	(2.5)	(2.5)	(2.5)	(2.5)
Net cash used in investing activities	(266.3)	(35.0)	(484.7)	(71.7)
Financing activities:
Borrowings under revolving loans	430.0	190.0	600.0	500.0
Repayments under revolving loans	(430.0)	(250.0)	(600.0)	(410.0)
Borrowings under term loans	250.0	0.0	250.0	0.0
Repayments under term loans	(229.3)	(4.3)	(233.7)	(8.7)
Principal payments of finance leases	(2.0)	(2.6)	(5.0)	(5.2)
Proceeds from issuance of capital stock	0.0	0.3	0.0	0.3
Repurchase of capital stock for cancellation	0.0	(40.0)	(22.6)	(117.7)
Purchase of treasury stock for SBC plans	0.0	0.0	0.0	(221.6)
Proceeds from TRS settlement	0.0	0.0	0.0	98.6
SBC cash settlement	(0.8)	0.0	(326.3)	(156.0)
Debt issuance costs paid	(4.8)	0.0	(4.8)	(0.2)
Net cash provided by (used in) financing activities	13.1	(106.6)	(342.4)	(320.5)
Net increase (decrease) in cash and cash equivalents	157.7	10.8	(59.9)	(109.5)
Cash and cash equivalents, beginning of period	378.0	303.0	595.6	423.3
Cash and cash equivalents, end of period	535.7	313.8	535.7	313.8
Supplemental disclosure information:
Interest paid	20.8	12.5	39.3	27.3
Net income taxes paid	74.7	50.6	145.5	56.2
Non-cash investing activity:
Unpaid purchases of property, plant and equipment at end of period	$ 180.0	$ 31.4	$ 180.0	$ 31.4

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 535.7	$ 595.6
Accounts receivable, net	3,338.2	2,638.1
Inventories	3,401.7	2,188.0
Other current assets	298.7	251.5
Total current assets	7,574.3	5,673.2
Property, plant and equipment, net	1,026.3	586.0
Operating lease right-of-use assets	152.7	124.1
Goodwill	332.9	333.1
Intangible assets, net	244.9	266.2
Deferred income taxes	206.2	156.4
Other non-current assets	250.3	74.1
Total assets	9,787.6	7,213.1
Current liabilities:
Current portion of borrowings under credit facility and finance lease obligations	26.4	26.0
Accounts payable	3,819.7	1,866.1
Accrued and other current liabilities and provisions	2,131.5	1,896.8
Income taxes payable	202.0	150.7
Total current liabilities	6,179.6	3,939.6
Long-term portion of borrowings under credit facility and finance lease obligations	784.0	750.5
Pension and non-pension post-employment benefit obligations	90.2	89.5
Other non-current liabilities and provisions	213.7	176.0
Deferred income taxes	40.5	41.2
Total liabilities	7,308.0	4,996.8
Equity:
Total equity	2,479.6	2,216.3
Total liabilities and equity	$ 9,787.6	$ 7,213.1