The broader Canadian equity market has been trending higher, rising about 34% over the past year despite persistent global trade tensions and geopolitical uncertainty. At the same time, several Canadian growth stocks have delivered significant gains, and a few are well-positioned to skyrocket further over the next 12 months.
Against this backdrop, here are two growth stocks that are likely to skyrocket in the next 12 months.
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Canadian growth stock #1: Celestica
Celestica (TSX: CLS) is a top Canadian growth stock set to skyrocket in the next 12 months. While Celestica stock has appreciated significantly over the past year, the momentum is likely to sustain as artificial intelligence (AI) infrastructure spending accelerates.
The company is benefiting from surging demand for data centre infrastructure and cloud computing solutions as enterprises and hyperscale providers expand their AI capabilities.
Much of this growth is being fuelled by Celestica’s Connectivity & Cloud Solutions (CCS) segment, which supplies advanced networking switches, servers, storage systems, and edge computing platforms. Demand for these products has given Celestica’s financials and share price a significant boost. In the first quarter of 2026, Celestica’s revenue climbed 53% year over year to $4.1 billion, while earnings per share (EPS) jumped 80% to $2.16.
Revenue from the company’s CCS division surged 76% to $3.2 billion, representing 80% of total sales, with enterprise revenue more than doubling. Growth has also been supported by expanding deployments of 800G networking switches among hyperscale customers.
Looking ahead, Celestica expects second-quarter revenue growth of roughly 49% and further margin expansion. Management has also raised its full-year 2026 outlook, forecasting $19 billion in revenue and adjusted earnings per share of $10.15. With AI infrastructure spending still in its early stages, Celestica appears well-positioned to deliver continued earnings growth, which should drive its share price higher.
Canadian growth stock #2: Bird Construction
Bird Construction (TSX: BDT) is an attractive growth stock set to skyrocket in the next 12 months. The leading construction and maintenance company is well-positioned to capitalize on Canada’s infrastructure boom.
Its diversified operations across industrial, infrastructure, and commercial construction reduce reliance on any single market while creating multiple long-term growth opportunities.
Bird Construction is also expanding its presence in Canada’s nuclear energy sector, strengthening its exposure to large, multi-year projects tied to the country’s energy transition plans. At the same time, Bird’s growing industrial maintenance business is adding more recurring revenue, helping create steadier cash flow and improving earnings visibility.
Bird entered 2026 with exceptional momentum, supported by a record combined backlog of $11.1 billion, including $5.1 billion in secured projects and another $6 billion in pending backlog. This provides strong visibility into future revenue as project activity accelerates through the year. The company recently secured roughly $1 billion in industrial maintenance awards and contract renewals, adding long-term recurring revenue over the next five years.
Strategic acquisitions also remain a key growth driver. Bird continues to pursue acquisitions that expand its capabilities, improve margins, and open new business opportunities across Canada. Combined with a strong balance sheet and healthy cash generation, the company has the flexibility to execute large projects while continuing to invest in growth.
After delivering solid gains over the past year, Bird Construction still appears well-positioned for further upside. Strong project demand, expanding margins, recurring revenue growth, and steady dividends make the stock an attractive investment.
