Research primer / Canadian Defense
Canada’s defense billions, and the long road from budget to cash flow.
Canada reached NATO’s 2% target in 2025 and has signed up for 5% by 2035. That is tens of billions of dollars of new procurement.
Innovation with operating evidence
Industrial Technology
Looking beyond a technology narrative to recurring demand, customer concentration and cash conversion.
Simulation, aerospace components, automation, specialty manufacturing: the Canadian industrial-technology bench is small, often family-controlled and rarely covered south of the border.
Research in this theme
Research brief / Industrial Technology
AI hardware has a Canadian supplier. Now read its customer list.
Celestica's revenue rose 62% in the quarter ended June 30, 2026, and three customers took 32%, 17% and 14% of it.
Relevant company profiles
Electronics manufacturing and hardware platforms for data centers / Operating manufacturer
Celestica
TSXCLSNYSECLS
Celestica builds electronic hardware, most of it now destined for data centers, and increasingly designs it too.
- Revenue (latest quarter)
- US$4,698.6MQuarter ended Jun 30, 2026
- GAAP net earnings (latest quarter)
- US$368.8MQuarter ended Jun 30, 2026
- Adjusted operating margin (latest quarter)
- 8.2%Quarter ended Jun 30, 2026
All figures are in U.S. dollars, Celestica's reporting currency, under U.S. GAAP. Quarterly figures are for the three months ended June 30, 2026 from the July 27, 2026 news release and the Form 10-Q; annual figures are from the January 28, 2026 release and the Form 10-K for 2025. Adjusted EPS, adjusted operating margin, adjusted gross margin and free cash flow are management's non-GAAP measures as the company defines them. Blank means not yet verified, never zero.
Toronto, Ontario
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The record
Desk notes in this theme
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Deal / Industrial Technology
Celestica sells 9,677,419 shares at US$310 and the underwriters take 1,451,612 more
A US$3.0 billion treasury offering priced on August 5 and closed on or about August 7 with the over-allotment exercised in full; net proceeds of about US$3.39 billion are for working capital and capital spending.
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Results / Industrial Technology
Celestica lifts its 2026 revenue outlook to US$20.5 billion after a 62% quarter
Second-quarter revenue of US$4,698.6 million and adjusted EPS of US$2.54 both beat the top of April's guidance; three customers supplied 32%, 17% and 14% of revenue, and the company says 2027 growth will accelerate.
Data & documents
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SEDAR+ public filings
Issuer financial statements and annual information forms.