Celestica, Inc.

Ladies and gentlemen, thank you for standing by and welcome to the Celestica third quarter 2020 earnings call. At this time, all participant lines are on mute. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star one on your telephone. If you require any further assistance, please press star zero. I would now like to turn the call over to your speaker today, Craig Oberg, Vice President of Investor Relations and Corporate Development. Please go ahead.

Good morning, and thank you for joining us on Seleska's third quarter 2020 earnings conference call. On the call today are Rob Mayonis, President and Chief Executive Officer, and Mandeep Chawla, Chief Financial Officer. As a reminder, during this call, we will make forward-looking statements within the meanings of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Such forward-looking statements are based on management's current expectations, forecasts, and assumptions, which are subject to risks, uncertainties, and other factors that could cause actual outcomes and results to differ materially from conclusions, forecasts, or projections expressed in such statements. For identification and discussion of such factors and assumptions, as well as further information concerning forward-looking statements, please refer to today's press release, including the cautionary note regarding forward-looking statements therein, and our annual report on Form 20F, and other public filings, which can be accessed at sec.gov and cdar.com. We assume no obligation to update any forward-looking statement except as required by law. In addition, during this call, we will refer to various non-IFRS measures, including operating earnings, operating margin, adjusted gross margin, adjusted return on invested capital, or adjusted ROIC, free cash flow, gross debt to non-IFRS trailing 12-month adjusted EBITDA leverage ratio, adjusted net earnings, adjusted EPS, adjusted SG&A, and adjusted effective tax rate. Listeners should be cautioned that references to any of the foregoing measures during this call denote non-IFRS measures, whether or not specifically designated as such. These non-IFRS measures do not have any standardized meanings prescribed by IFRS and may not be comparable to similar measures presented by other public companies that use IFRS or who report under U.S. GAAP and use non-GAAP measures to describe similar operating metrics. We refer you to today's press release and our third quarter 2020 earnings presentation, which are available at celeska.com under the Investor Relations tab for more information about these and certain other non-IFRS measures, including a reconciliation of historical non-IFRS measures to the most directly comparable IFRS measures from our financial statements. Unless otherwise specified, all references to dollars on this call are to U.S. dollars, and per share information is based on diluted shares outstanding. Let me now turn the call over to Rob.

Thank you, Craig. Good morning, and thank you for joining today's conference call. Despite the challenging environment, Slustica performed well in the third quarter, delivering another quarter of year-over-year and sequential revenue and operating margin growth. We are continuing to see the benefits of our portfolio transformation actions, and our solid third quarter results are another sign that our strategy is yielding results. Our global team is successfully navigating today's challenges and is working tirelessly to support our customers while keeping our employees safe. Our operations remain largely stabilized, and our supply chain continues to improve, However, we continue to experience a fair amount of demand volatility as our customers and markets remain impacted by COVID-19. As circumstances continue to change, we are well prepared to adapt and address any new COVID challenges. We believe we have a robust set of processes and protocols in place to manage our operations and global supply chain as the COVID-19 situation continues to evolve around the world. While we are experiencing demand strength in the capital equipment and health tech markets and JDM business, we continue to see softness in other markets, most significantly in commercial aerospace. Our CCS segment delivered another quarter of solid performance. Revenue grew on a year-over-year basis, and segment margin came in above our 2% to 3% target range. This quarter represents the sixth consecutive quarter of sequential margin expansion in CCS. In our ATS segment, demand weakness in some of our businesses is offsetting strong growth in health tech and capital equipment, driven by recent wins. The cost productivity actions taken within ATS are leading to improved profitability. While we continue to take actions to return this segment to its target operating margin of 5 to 6 percent, we are encouraged by the sequential and year-over-year operating margin expansion that ATS achieved in the third quarter. As we continue to drive cost productivity actions and the broader demand environment improves, we believe margins will return to target levels. Overall, we believe the strength we are seeing in several of our end markets is a testament to our diversification strategy and our ability to innovate, execute, and deliver for our customers. The actions we have taken to transform our business in recent years have strengthened our portfolio. and we are pleased to be seeing the positive results. I will provide some additional color on our end markets, but first, I will turn the call over to Mandeep to give you further details on our third quarter results. Over to you, Mandeep.