Celestica Inc. reported second-quarter revenue of $2.89 billion, a 21% year-on-year increase, and GAAP earnings of $1.82 a share. Adjusted earnings rose 54% to $1.39 a share, while adjusted operating margin reached a record 7.4%, buoyed by 28% growth in the Connectivity & Cloud Solutions segment and an 82% jump in Hardware Platform Solutions revenue. The company generated $120 million in free cash flow and spent $40 million buying back 0.6 million shares during the quarter. On the strength of the results, management raised its 2025 outlook. Full-year revenue is now projected at $11.55 billion, up from $10.85 billion, and adjusted earnings per share at $5.50, compared with a previous $5.00 forecast. Celestica also lifted its free-cash-flow target to $400 million. For the third quarter the Toronto-based manufacturer expects revenue of $2.875 billion to $3.125 billion and adjusted EPS of $1.37 to $1.53. Investors greeted the beat and guidance increase enthusiastically, sending the shares up about 16% to a record near $201 in New York trading. The rally prompted Stifel to reaffirm its buy rating and raise its price target to $230, citing continued momentum in AI-driven networking gear and robust execution across Celestica’s operations.