Celestica shares sank 7.9% in extended trading on Monday even as the Canadian technology firm reported first-quarter results and guidance that topped estimates.

For the period ending March 31, Celestica said it earned an adjusted $2.16 per share as revenue rose 52.8% year-over-year to come in at $4.05B. Analysts had expected the company to earn an adjusted $2.08 per share on $4.05B.

“Celestica delivered a strong first quarter to begin 2026, achieving revenue of $4.05 billion and adjusted EPS (non-GAAP) of $2.16. Our solid results included adjusted operating margin of 8.0%, a new milestone for the company,” said Rob Mionis, President and CEO, in a statement. “We continue to see accelerating growth from our CCS customer base, alongside increasing profitability in both our CCS and ATS segments. Driven by this momentum, we are raising our 2026 annual outlook to $19.0 billion in revenue and $10.15 in adjusted EPS (non-GAAP). Our outlook for 2027 also continues to strengthen from just 90 days ago, supported by new program wins as well as improved forecast visibility with our customers.”

Looking to the second-quarter, Celestica expects to earn between $2.14 and $2.34 per share on an adjusted basis, above the $2.13 per share estimate. Sales are forecast to be between $4.15B and $4.45B, with the midpoint above the $4.18B estimate.