Celestica raises 2026 revenue guidance to $20.5B as AI demand drives strong growth and margins.

Celestica has increased its 2026 revenue forecast to $20.5 billion and EPS to $11.30, driven by strong AI infrastructure demand. Q3 growth neared 69% year-over-year, supported by extended component lead times and binding commitments that provide visibility through 2028-2029. Key AI programs from clients like AMD and OpenAI are fueling overlapping infrastructure ramps beyond 2026. Adjusted operating margins improved to 8.2% and are expected to reach 8.4%, reflecting stronger operating leverage from AI-driven growth. However, risks remain due to customer concentration, with three largest clients accounting for 63% of Q2 revenue, and significant capital expenditure expansion.