Celestica (NYSE:CLS) stock is rocketing higher on Thursday after the supply-chain solutions company released its earnings report for the second quarter of 2023.
The good news for CLS stock starts with the company’s adjusted EPS of 55 cents for the quarter. That’s better than the 47 cents per share Wall Street was expecting. It also comes in above the 44 cents reported in Q2 2022.
Adding to this boon for CLS stock is its revenue of $1.94 billion. Yet again, that comes in above analysts’ estimate of $1.81 billion. It also represents a 13% increase year-over-year (YOY) from $1.72 billion.
Guidance Boosts CLS Stock
Another positive for CLS stock shares is its guidance for Q3 2023. This has the company expecting adjusted EPS to range from 56 cents to 62 cents. For comparison, Wall Street is looking for EPS of 51 cents for Q3.
To go along with that, Celestica’s Q3 guidance also includes revenue ranging from $1.90 billion to $2.05 billion. That’s also looking good for the company compared to analysts’ Q3 revenue estimate of $1.95 billion.
Celestica also increased its 2023 guidance in its latest earnings report. It now expects adjusted EPS of $2.25 on revenue of at least $7.85 billion. For the record, Wall Street is expecting adjusted EPS of $2.04 alongside revenue of $7.64 billion for the year.
CLS stock is up 30% as of Thursday morning and up 45% year-to-date (YTD) as of yesterday’s close.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
