Celestica Reports Profit Increase but Misses EPS Expectations

Celestica Inc. has reported a profit increase in Q3 but fell short of earnings expectations according to a recent report. Revenue growth shows positive momentum despite the EPS miss.

Date: 24-10-2024

AI Rating: 5

According to the report, Celestica Inc. (CLS) reported a profit of $91.7 million for its third quarter, up from $80.2 million in the same quarter last year. However, this performance fell short of analysts' expectations, which had anticipated earnings of $0.93 per share, as opposed to the actual EPS of $0.77.

The revenue for the quarter was reported at $2.499 billion, indicating a significant increase of 22.3% compared to $2.043 billion in the third quarter of the previous year. This revenue growth demonstrates strong business activity and demand for the company's services, even as earnings per share lag behind expectations.

Summarizing the key financial metrics:

Net Income: Increased from $80.2 million to $91.7 million year-over-year.
Earnings Per Share (EPS): Reported at $0.77, which missed analysts' expectations of $0.93.
Revenue Growth: Increased by 22.3% year-over-year.

Despite the revenue growth, missing EPS expectations may negatively impact investor sentiment and stock price. This discrepancy between actual performance and analyst estimates could create uncertainty regarding future earnings consistency.

Stocks: CLS