TORONTO – Celestica’s first quarter revenue was $1.57 billion, growth of 27% year-over-year.

ATS segment revenue increased 31%, and CCS segment revenue increased 24%.

Consolidated net earnings for the period were $21.8 million, up 107.6% compared to the first quarter of 2021.

"Our strong performance in the first quarter was a great start to the year,” said Rob Mionis, president and CEO, Celestica. “Although the macro environment presented a number of challenges, we continue to execute well on our key objectives while advancing our long-term strategy.

"Based on our performance to date and the assumption the supply chain environment does not materially worsen, we are pleased to raise our full-year 2022 revenue outlook to at least $6.5 billion, which, if achieved, would represent at least 15% year-over-year growth."

Cash provided by operations during the period was $35.3 million, compared to $48.8 million in the first quarter last year. Consolidated cash and cash equivalents as of March 31 were $346.6 million, compared to $394 million as of Dec. 31.

For the second quarter, Celestica expects revenue of $1.575 billion to $1.725 billion.

“We continue to expect supply chain constraints to persist throughout the remainder of 2022. While we have incorporated these dynamics into our financial guidance and outlook to the best of our ability, their adverse impact (in terms of duration and severity) cannot be estimated with certainty, and may be materially in excess of our expectations.”