On August 6, Celestica fell 14.38% in regular trading, trading at $313.88/share, with turnover of $722 million. The decline was triggered by the company's announcement of a $3 billion equity offering plan, which raised significant concerns over share dilution and earnings-per-share dilution effects.

Despite delivering a strong Q2 performance — revenue of $4.7 billion, up 62% year-over-year, and adjusted EPS of $2.54 versus the $2.27 consensus estimate — the large-scale equity issuance overshadowed the positive results. The company had previously raised its full-year revenue guidance to $20.5 billion and adjusted EPS outlook to $11.30, both well above analyst expectations. Management also indicated that revenue growth would further accelerate into 2027, supported by new project wins and robust AI infrastructure demand.

However, the magnitude of the capital raise intensified short-term selling pressure, with the stock already declining approximately 9-12% in after-hours and pre-market sessions before extending losses during regular trading. Within the Electronic Manufacturing Services sector, peers showed relatively muted moves, with TTM Technologies up 0.95%, Jabil Circuit up 0.13%, while Flex Ltd fell 1.04%, Fabrinet fell 0.9%, and TE Connectivity fell 0.53%.

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