Celestica, Inc.

Good morning, ladies and gentlemen, and welcome to the Celestica fourth quarter 2024 earnings call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded. I would now like to turn the conference over to Craig Oberg, Vice President of Corporate Development and Investor Relations. Please go ahead.

Good morning, and thank you for joining us on Seleska's Q4 2024 Earnings Conference Call. On the call today, we have Rob Mayonis, President and Chief Executive Officer, and Mandeep Chawla, Chief Financial Officer. Listeners should note that, as previously communicated, all of our financial results, including historical comparisons, will now be reported on a US GAAP basis, having transitioned from reporting under IFRS previously. Please note that our guidance for Q4 2024 was issued on an IFRS basis and has not been restated due to our assessment that the impact of the transition to US GAAP standards did not have a material impact on these figures. Please note that during the course of this call we will make forward-looking statements relating to the future performance of Celestica, which are based on management's current expectations, forecasts, and assumptions. While these forward-looking statements represent our current judgment, actual results could differ materially from a conclusion, forecast, or projection in the forward-looking statements made today. Certain material factors and assumptions are applied in drawing any such statement. for identification and discussion of such factors and assumptions, as well as risk factors that may impact future performance and results of Celestica, please refer to our public filings available at sec.gov and cdarplus.ca, as well as our investor relations website. We undertake no obligation to update these forward-looking statements unless expressly required to do so by law. In addition, during this call, we will refer to various non-GAAP financial measures, including adjusted operating margin, adjusted gross margin, adjusted return on invested capital or adjusted ROIC, free cash flow, gross debt to trailing 12-month adjusted EBITDA leverage ratio, adjusted earnings per share or adjusted EPS, adjusted SG&A expense, and adjusted effective tax rate. We have included in our earnings release found on our investor relations website a reconciliation of non-GAAP financial measures to the most comparable GAAP measures. With respect to our Q1 2025 and 2025 annual outlook, our earnings release does not include a reconciliation of forward-looking non-GAAP measures to the most directly comparable GAAP measures on a forward-looking basis, as items that we exclude from GAAP to calculate the comparable non-GAAP measure are dependent on future events that are not able to be reliably predicted by management and are not part of our routine operating activities. We are unable to provide such a reconciliation without unreasonable effort due to the uncertainty and inherent difficulty in predicting the occurrence, the financial impact, and the periods in which the adjustments may be recognized. The occurrence, timing, and amount of any of the items excluded from GAAP to calculate non-GAAP could significantly impact our Q1 2025 and 2025 GAAP results. Unless otherwise specified, all references to dollars on this call are to U.S. dollars. All per share information is based on diluted shares outstanding, and all references to comparative figures are a year-over-year comparison. Let me now turn the call over to Rob.

Thank you, Craig, and good morning, everyone, and thank you for joining us on today's call. We delivered strong performance in the fourth quarter with revenues of $2.55 billion at the high end of our guidance range. and adjusted EPS of $1.11, exceeding the high end of our guidance range. Our adjusted operating margin of 6.8% exceeded the midpoint of the revenue and adjusted EPS guidance ranges. This result was driven by robust demand in our CCS segment, which delivered solid growth of 30% year-over-year as we continue to see strong demand from our hyperscaler customers. ATS segment revenues met expectations in the fourth quarter, reflecting anticipated market dynamics. While we continue to see a moderation of demand in our industrial markets, we are encouraged by the strength in our capital equipment business, which achieved nearly 30% year-over-year growth. Overall, 2024 was an outstanding year for Sawsticka, in which we continue to build on our positive momentum. For the full year, we achieved $9.65 billion in revenues and adjusted EPS of $3.88, representing growth of 21% and 58%, respectively, along with 100 basis point improvement in our adjusted operating margin. We are pleased with the company's performance and the significant progress we have achieved over the past several years. The growth of our AI platforms along with the exceptional execution by our entire team, continue to be the engines of our strong performance. And we are optimistic about continuing this momentum in the years to come. Before I provide you with some additional color on the outlook of each of our businesses, I would like to hand the call over to Mandeep, who will provide you further details on our financial performance during the fourth quarter and our guidance for the first quarter of 2025. Mandy, over to you.