Here are 1-3 brief analogies to describe Celestica (CLS):

• Celestica is like Foxconn, but specializing in manufacturing electronics for industrial, enterprise, and medical companies instead of primarily consumer gadgets.
• Celestica is like Magna International, but for electronic components and systems across diverse industries like aerospace, healthcare, and capital equipment.
• Celestica is like TSMC, but for assembling complete electronic products and systems for various brands, rather than just manufacturing semiconductor chips.

• Design & Engineering Services: Provides product design, development, prototyping, and testing services for electronic products across various industries.
• Electronics Manufacturing Services (EMS): Offers comprehensive manufacturing solutions including printed circuit board assembly (PCBA), system assembly, integration, and final product testing.
• Supply Chain Management: Manages global supply chains for customers, encompassing strategic sourcing, procurement, logistics, and inventory management.
• Aftermarket Services: Delivers post-manufacturing support such as product repair, refurbishment, warranty management, and recycling solutions.
• Joint Design & Manufacturing (JDM): Collaborates with customers on product design and then manufactures those products, often taking a more significant role in the initial product definition and architecture.

Celestica (symbol: CLS) primarily sells its services and solutions to other companies (B2B) rather than directly to individuals. As an electronics manufacturing services (EMS) provider, Celestica partners with Original Equipment Manufacturers (OEMs) and other companies across various industries to design, manufacture, and provide supply chain solutions for their electronic products.

Celestica generally does not publicly disclose the specific names of its major customer companies due to confidentiality agreements and competitive reasons. Therefore, it is not possible to list individual customer names and their symbols. However, based on their reported market segments, their customer base consists of companies operating in the following key industries:

• Aerospace & Defense: Companies producing avionics, satellite systems, defense electronics, and related equipment.
• Communications: Providers of telecommunications infrastructure, networking equipment, and other communication technologies.
• Enterprise: Manufacturers of servers, storage systems, enterprise computing solutions, and networking hardware.
• HealthTech: Companies developing and manufacturing medical devices, diagnostic equipment, and other healthcare technology.
• Industrial: Businesses in industrial automation, capital equipment, smart energy, and other industrial applications.

While specific customer names are not disclosed, these categories represent the types of companies that utilize Celestica's expertise and manufacturing capabilities.

Rob Mionis, President and Chief Executive Officer

Prior to joining Celestica, Rob Mionis was an Operating Partner/Senior Advisor in private equity at Pamplona Capital Management, supporting several companies across various industries including industrial, aerospace, healthcare, and automotive segments. Before his private equity experience, he served as the President and CEO of StandardAero, a large independent global aerospace maintenance, repair, and overhaul company, leading it through significant revenue and profitability growth. He also held senior leadership roles at Honeywell, including the head of the Integrated Supply Chain Organization for Honeywell Aerospace, and earlier in his career, he held operational and service roles at General Electric (GE), AlliedSignal, and Axcelis Technologies.

Mandeep Chawla, Chief Financial Officer

Mandeep Chawla began his career at General Electric and joined Celestica in 2010, holding progressively senior roles before becoming CFO in 2017. Prior to Celestica, he held senior financial management positions at MDS Inc. and Tyco International. He also served as a Director of Sleep Country Canada Holdings Inc.

Yann Etienvre, Chief Operations Officer

As Celestica's Chief Operations Officer, Yann Etienvre is responsible for driving operational excellence, quality, and technology innovation. He joined Celestica from Sensata Technologies, where he served as the Executive Vice President and Chief Supply Chain Officer, leading global operations, sourcing, logistics, and compliance. He has held various leadership roles at Sensata Technologies, IMI plc, GE Healthcare, Montupet, and Renault, with experience across automotive, healthcare, electrification, oil and gas, energy, and appliances market segments.

Todd Cooper, President, Advanced Technology Solutions

Todd Cooper is responsible for the strategy and execution of Celestica's aerospace and defense, capital equipment, healthtech, industrial, and smart energy businesses. Before joining Celestica, Todd led Supply Chain, Procurement, Logistics, and Sustainability value creation efforts at KKR, a leading global investment firm, where he championed operational transformation efforts across KKR's global portfolio companies. Prior to KKR, he was the Vice President of Global Sourcing in Honeywell's Aerospace Division. He also held various management roles at Storage Technology Corporation, McKinsey & Company, and served as a Captain in the U.S. Army.

Jason Phillips, President, Connectivity and Cloud Solutions

Jason Phillips is responsible for strategy development, deployment, and execution for Celestica's enterprise and communications portfolio, overseeing all aspects of the Connectivity & Cloud Solutions business and operations. In his previous role at Celestica, he served as Senior Vice President, Enterprise and Cloud Solutions.

The accelerating trend among original equipment manufacturers (OEMs) towards establishing more regionalized and highly automated manufacturing facilities, either in-house or through partnerships with specialized, technology-first regional providers. This shift is driven by a desire for enhanced supply chain resilience, proximity to end markets, and the increasing viability of automation over low-cost labor. Such a paradigm shift could reduce the demand for large-scale, globally distributed electronics manufacturing services (EMS) companies like Celestica, as OEMs may choose to bypass traditional global EMS providers for certain product lines or regions, opting instead for agile, automated, and localized production.

Celestica operates in two main segments: Advanced Technology Solutions (ATS) and Connectivity & Cloud Solutions (CCS). The addressable markets for some of their key offerings are as follows:

Connectivity & Cloud Solutions (CCS)

• Cloud Services Market: The global cloud services market was valued at approximately USD 618.04 billion in 2024 and is projected to reach around USD 2,726.94 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 16.00% from 2025 to 2034. In North America, the market was approximately USD 259.58 billion in 2024 and is expanding at a CAGR of 16.14% during the forecast period. The U.S. cloud services market alone was approximately USD 181.70 billion in 2024 and is projected to be around USD 817.06 billion by 2034, with a CAGR of 16.22% from 2025 to 2034.
• Public Cloud Market (Hyperscaler IaaS and PaaS): The global public cloud market reached USD 157 billion in 2021 and is projected to reach USD 2 trillion in the foreseeable future (10-20 years).
• AI Infrastructure Market: The global AI infrastructure market alone could reach nearly USD 500 billion by 2034.
• Cloud Connectivity Market: The global cloud connectivity market size was valued at USD 18.7 billion in 2024 and is forecasted to reach USD 62.4 billion by 2033, growing at a CAGR of 14.2% during the forecast period. North America holds the largest market share in the global cloud connectivity market, accounting for approximately 38% of total revenue in 2024.
• Cloud Managed Networking Market: The global cloud managed networking market size was valued at USD 22.8 billion in 2023 and is poised to grow from USD 25.26 billion in 2024 to USD 57.38 billion by 2032, growing at a CAGR of 10.8%.
• Multi Cloud Networking Market: The global multi-cloud networking market size was valued at USD 3.11 billion in 2024 and is anticipated to reach USD 16.83 billion by 2032, at a CAGR of 23.5% during the forecast period. North America leads this market with the largest share.

Advanced Technology Solutions (ATS)

• HealthTech Market: The global HealthTech market size was valued at USD 908.5 billion in 2023 and is projected to reach USD 3,140.9 billion by 2033, growing at a CAGR of 13.1% from 2024 to 2033. Another estimate indicates the global HealthTech market size is expected to reach USD 2,556.39 billion by 2032, rising at a market growth of 12.6% CAGR. North America held the largest market share in 2023 and recorded 39% of the revenue share in 2024 for the HealthTech market.
• For the remaining sub-segments within Celestica's Advanced Technology Solutions (which include Aerospace & Defense, Industrial, Energy, and Capital Equipment businesses), specific addressable market sizes for their manufacturing and supply chain services are not readily available in the provided search results.

• Surging Demand for AI Data Center Hardware and Networking Solutions: Celestica anticipates robust growth from the expanding artificial intelligence (AI) infrastructure market. This includes strong demand for AI data center technologies, particularly within its Connectivity & Cloud Solutions (CCS) segment, which is benefiting from significant customer forecasts and new AI program awards.
• Leadership in Advanced Networking Technologies: The company is strategically positioned to capitalize on its leadership in the 800G networking transition and early successes with 1.6T networking technology. These advancements are expected to contribute significantly to future revenue as hyperscale data centers upgrade their infrastructure.
• Increased Demand from Hyperscaler Customers: Celestica's CCS segment continues to experience very strong demand from its hyperscaler customers, which are large cloud service providers. These customers are engaged in substantial capital expenditure cycles to expand their data centers, driving demand for Celestica's networking switches and other hardware platform solutions.
• Expansion to New "Digital Native" Customers: Celestica expects to enhance its top-line growth through the acquisition of new "digital native" customers, which analysts suggest could add 20-30% to the company's revenue.

Share Repurchases

• Celestica secured approval for a new normal course issuer bid (NCIB) to repurchase up to 5,722,527 common shares (approximately 5% of its public float as of October 20, 2025), running from November 3, 2025, to November 2, 2026.
• Under a prior program, Celestica repurchased 1,522,831 shares at an average price of US$92.26 per share as of October 20, 2025.
• In Q1 2025, Celestica executed a $75.0 million share repurchase program, acquiring 0.6 million common shares, and in Q2 2025, it repurchased an additional $40.0 million (0.6 million shares), bringing the year-to-date total to $115 million. In 2024, Celestica repurchased 3.2 million common shares for $152.0 million.

Outbound Investments

• In September 2021, Celestica acquired PCI Limited for $306 million in cash, aiming to expand capabilities in key markets and strengthen geographic positioning.
• In April 2024, the company completed the acquisition of NCS for $39.6 million.

Capital Expenditures

• Capital expenditures in Q1 2024 were $40.4 million, primarily focused on enhancing manufacturing capabilities and supporting new customer programs, with approximately two-thirds related to the Connectivity & Cloud Solutions (CCS) segment.
• In Q2 2025, capital expenditures were $33 million, representing 1.1% of revenue.
• Celestica expects to make capital expenditure investments in 2025 to support customer demand in key geographies and accommodate increased volume, particularly for AI data center platforms. Anticipated capital expenditures for 2025 are between 1.5% and 2.0% of the projected $10.85 billion revenue.