Celestica, Inc. (NYSE:CLS) shares are trading lower Tuesday. The company reported first-quarter financial results on Monday after the market closed.
- Celestica stock is taking a hit today. What’s weighing on CLS shares?
Q1 Highlights
Celestica reported adjusted earnings per share of $2.16, beating the consensus estimate of $2.07. In addition, it reported revenue of $4.04 billion, beating the consensus estimate of $3.95 billion.
The company repurchased 0.1 million common shares for cancellation for $20 million.
The company expects second-quarter adjusted earnings per share of between $2.14 and $2.34, versus the consensus estimate of $2.13. Furthermore, it sees revenue of $4.15 billion to $4.45 billion, versus the consensus estimate of $4.17 billion.
Celestica raised its guidance for both fiscal-year adjusted earnings per share and revenue. It raised its adjusted earnings per share guidance from $8.75 to $10.15, versus the consensus estimate of $8.96. It also raised its revenue guidance from $17.00 billion to $19.00 billion, versus the consensus estimate of $17.46 billion.
Celestica Shares Fall
CLS Price Action: At the time of publication, Celestica shares are trading 14.70% lower at $360.13, according to data from Benzinga Pro.
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