Celestica Sees Q1 2023 EPS $0.41-$0.47 Vs $0.40 Est.; Q1 23 Revenue $1.725B-$1.875B Vs $1.72B Est.; FY23 EPS $1.95-$2.05 Vs $2.03 Est.; FY23 Revenue Of At Least $7.5B

First Quarter of 2023 (Q1 2023) Guidance Q1 2023 Guidance Revenue (in billions)         $1.725 to $1.875 Non-IFRS

First Quarter of 2023 (Q1 2023) Guidance

Q1 2023 Guidance
Revenue (in billions)         $1.725 to $1.875
Non-IFRS operating margin*         5.0% at the mid-point of our

revenue and non-IFRS adjusted

EPS guidance ranges

Adjusted SG&A (non-IFRS)* (in millions)         $56 to $58
Adjusted EPS (non-IFRS)*         $0.41 to $0.47

For Q1 2023, we expect a negative $0.22 to $0.28 per share (pre-tax) aggregate impact on net earnings on an IFRS basis for employee stock-based compensation (SBC) expense, amortization of intangible assets (excluding computer software), and restructuring charges; and a non-IFRS adjusted effective tax rate* of approximately 21% (which does not account for foreign exchange impacts or unanticipated tax settlements).

 

2023 Outlook

Following our solid performance in 2022, we are pleased to reaffirm our 2023 outlook of:

  • revenue of at least $7.5 billion;
  • non-IFRS operating margin* of between 4.5% and 5.5%; and
  • target non-IFRS adjusted EPS* of between $1.95 and $2.05.
     

Achievement of the midpoint of our 2023 non-IFRS adjusted EPS* range would represent a two-year non-IFRS adjusted EPS* average annual growth rate of 24% for 2022 and 2023(1). Looking beyond 2023, our average annual non-IFRS adjusted EPS* growth objective continues be 10%+ for 2024 and 2025.

Although we have incorporated the anticipated impact of supply chain constraints into the foregoing financial guidance and outlook to the best of our ability, their adverse impact (in terms of duration and severity) cannot be estimated with certainty, and may be materially in excess of our expectations.

* See Schedule 1 for the definitions of these non-IFRS financial measures. We do not provide reconciliations for forward-looking non-IFRS financial measures, as we are unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing or amount of various events that have not yet occurred, are out of our control and/or cannot be reasonably predicted, and that would impact the most directly comparable forward-looking IFRS financial measure. For these same reasons, we are unable to address the probable significance of the unavailable information. Forward-looking non-IFRS financial measures may vary materially from the corresponding IFRS financial measures. See Schedule 1 for a description of the anticipated modification of specified non-IFRS financial measures (by the addition of a newly-applicable exclusion) for future periods.

(1) Further, achievement of this midpoint would represent the achievement of the 2025 non-IFRS adjusted EPS* target disclosed in our March 24, 2022 press release, putting us ahead of the trajectory set forth therein.

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