Celestica, Inc.

Good morning. My name is Julianne, and I will be your conference operator today. At this time, I would like to welcome everyone to Celestica's Q1 2022 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, please press star one again. Thank you. Craig Oberg, Vice President of Investor Relations and Corporate Development. You may begin your conference.

Good morning, and thank you for joining us on Celestica's first quarter 2022 earnings conference call. On the call today are Rob Mayonis, President and Chief Executive Officer, and Mandip 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 yesterday's press release, including the cautionary note regarding forward-looking statements therein, our most recent 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 financial measures, including ratios based on non-IFRS financial measures, consisting of 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 earnings per share or adjusted EPS, adjusted SG&A, lifecycle solutions revenue, and adjusted effective tax rate. Listeners should be cautioned that references to any of the foregoing measures during this call denote non-IFRS financial measures, whether or not specifically designated as such. These non-IFRS financial measures do not have any standardized meanings prescribed by IFRS and may not be comparable to similar measures presented by other public companies that report under IFRS or report under U.S. GAAP and use non-GAAP financial measures to describe similar operating metrics. We refer you to yesterday's press release and our Q1 2022 earnings presentation, which are available at Celestica.com under the Investor Relations tab. for more information about these and certain other non-IFRS financial measures, including a reconciliation of historical non-IFRS financial measures to the most directly comparable IFRS financial 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, everyone, and thank you for joining us on today's conference call. Our strong performance for the first quarter of 2022 was a great start to the year and a testament to the execution of our multi-year journey. In spite of a dynamic macro environment, Certica continues to execute well on our key objectives while advancing our long-term strategy. Both our first quarter revenue and non-IFRS-adjusted EPS came in above the high end of our guidance ranges, and our non-IFRS operating margin exceeded the midpoint of our guidance ranges. Furthermore, our non-IFRS operating margin of 4.4% represents the ninth consecutive quarter of year-over-year operating margin improvement. And Q1 2022 was another strong quarter for our CCS segment, achieving 24% revenue growth compared to the first quarter of 2021. Hardware Platform Solutions, or HPS, continues to exhibit very strong growth as we continue to gain market share. Our HPS business is expected to remain a driver of growth in CCS for all of 2022. Our ATS segment also had a solid quarter, achieving 31% revenue growth as compared to the first quarter of last year. Our success in ATS was driven primarily by our growth in our industrial and and capital equipment businesses, including our first full quarter of results from PCI. We're also pleased to see our A&D business returning to growth from trough levels in 2021. While we are operating in a challenging supply chain environment, we believe we will build on the positive momentum we have established in the first quarter by executing on our strategic and operational objectives and achieve another year of strong financial performance in 2022. Based on robust year-to-date demand and the assumption that the supply chain environment does not materially worsen, we are pleased to have raised our full year 2022 revenue outlook to $6.5 billion or more. If achieved, this would represent 15% year-over-year growth. In addition, as a result of the higher revenue outlook, we have tightened the range on our full year non-IFRS adjusted EPS range to between $1.60 and $1.75. Before I offer some additional detail on our business outlook, I'd like to turn the call over to Mandeep, who will provide you with additional color on our first quarter financial performance, as well as our guidance for the next quarter and details on our 2022 outlook. Over to you, Mandeep.