Shares of Celestica Inc. (NYSE: CLS) surged 9.02% in after-hours trading on Monday following the release of its second-quarter earnings report that significantly exceeded analyst expectations. The electronic manufacturing services company demonstrated robust financial performance, driving investor enthusiasm.
Celestica reported quarterly earnings of $1.39 per share, handily beating the analyst consensus estimate of $1.22 by 13.93%. The company's top line also impressed, with quarterly sales reaching $2.893 billion, surpassing the expected $2.652 billion by 9.09%. These results showcase Celestica's ability to outperform in a challenging market environment.
The Q2 performance also marked substantial year-over-year growth for Celestica. Earnings per share increased by an impressive 52.75% compared to the $0.91 reported in the same period last year. Similarly, sales grew by 20.94% from $2.392 billion in the previous year's quarter. This strong growth trajectory, coupled with the company's ability to exceed market expectations, likely contributed to the significant after-hours stock price movement.