Treasury
3-MO 3.96% unch 6-MO 4.10% +2bp 1-YR 4.14% unch 2-YR 4.31% -2bp 3-YR 4.35% -1bp 5-YR 4.40% -3bp 7-YR 4.52% -3bp 10-YR 4.65% -4bp 20-YR 5.15% -3bp 30-YR 5.12% -4bp 3-MO 3.96% unch 6-MO 4.10% +2bp 1-YR 4.14% unch 2-YR 4.31% -2bp 3-YR 4.35% -1bp 5-YR 4.40% -3bp 7-YR 4.52% -3bp 10-YR 4.65% -4bp 20-YR 5.15% -3bp 30-YR 5.12% -4bp 3-MO 3.96% unch 6-MO 4.10% +2bp 1-YR 4.14% unch 2-YR 4.31% -2bp 3-YR 4.35% -1bp 5-YR 4.40% -3bp 7-YR 4.52% -3bp 10-YR 4.65% -4bp 20-YR 5.15% -3bp 30-YR 5.12% -4bp 3-MO 3.96% unch 6-MO 4.10% +2bp 1-YR 4.14% unch 2-YR 4.31% -2bp 3-YR 4.35% -1bp 5-YR 4.40% -3bp 7-YR 4.52% -3bp 10-YR 4.65% -4bp 20-YR 5.15% -3bp 30-YR 5.12% -4bp 3-MO 3.96% unch 6-MO 4.10% +2bp 1-YR 4.14% unch 2-YR 4.31% -2bp 3-YR 4.35% -1bp 5-YR 4.40% -3bp 7-YR 4.52% -3bp 10-YR 4.65% -4bp 20-YR 5.15% -3bp 30-YR 5.12% -4bp 3-MO 3.96% unch 6-MO 4.10% +2bp 1-YR 4.14% unch 2-YR 4.31% -2bp 3-YR 4.35% -1bp 5-YR 4.40% -3bp 7-YR 4.52% -3bp 10-YR 4.65% -4bp 20-YR 5.15% -3bp 30-YR 5.12% -4bp
US Treasury par yield curve · Jul 27 · Source: U.S. Treasury
Monday, July 27, 2026
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Earnings

Celestica raised its 2026 revenue outlook to $20.5bn, and its GAAP earnings per share came in above its adjusted figure because of a swap

Money & World
The Editorial Team ·
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Photo: Tomás Asurmendi / Pexels

Celestica raised its annual outlook for the second time this year.

The Toronto company, which builds data centre hardware for cloud and artificial intelligence customers, reported second quarter revenue of $4.70bn on Monday after the close, up 62 percent from $2.89bn a year earlier. Its own guidance range had been $4.15bn to $4.45bn. Adjusted earnings per share came in at $2.54 against a range of $2.14 to $2.34.

The annual figures moved further. Revenue guidance for 2026 is now $20.5bn, against $19.0bn three months ago. Adjusted earnings per share guidance is $11.30, against $10.15. Adjusted operating margin guidance is 8.4 percent, against 8.1 percent, and the free cash flow figure went from $500m to $600m. Rob Mionis, the chief executive, said the company expects revenue growth in 2027 to accelerate beyond the 65 percent rate it now anticipates for 2026, and adjusted earnings per share to grow faster than revenue.

The two segments went in different directions. Connectivity and Cloud Solutions, which covers communications and enterprise servers and storage, grew 84 percent to $3.81bn at a margin of 8.7 percent, with roughly $1.9bn of that in Hardware Platform Solutions. Advanced Technology Solutions, which covers aerospace and defence, industrial, health technology and capital equipment, grew 8 percent to $0.89bn at a margin of 6.3 percent.

One line in the release is worth reading twice. GAAP earnings per share were $3.17, which is higher than the $2.54 adjusted figure, and that ordering is the reverse of what the two measures usually produce. The release gives the reason: a positive impact of $0.90 per share on a pre-tax basis attributable to the company's total return swap agreement, against $0.84 in the same quarter last year. The GAAP number also carries an aggregate charge of $0.28 per share, pre-tax, for stock-based compensation, amortisation of intangible assets and restructuring.

Third quarter guidance is $5.25bn to $5.55bn of revenue and $2.88 to $3.08 of adjusted earnings per share, at an adjusted operating margin of 8.4 percent at the midpoint. The company attributes the second quarter beat to higher than anticipated customer demand and strong operational execution, and the raised outlook to stronger expected demand in the third quarter and better visibility for the rest of the year.

Management holds its call on Tuesday at 8:00 a.m. eastern time.

The document: Celestica Inc., 'Celestica Announces Second Quarter 2026 Financial Results', Exhibit 99.1 to Form 8-K filed with the U.S. Securities and Exchange Commission on July 27, 2026, accession number 0001030894-26-000043.

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