CTS Q2 sales up 12% to $145M, adj. EPS $0.62; raises FY2022 guidance

CTS CORP

2022-Q2 EPS reported $1.02 revenue$292,677,000

Q2 sales $145M (+12% YoY); net income $12.6M ($0.39 diluted) vs $0.9M a year ago.
Adjusted diluted EPS $0.62, up from $0.52; Adj. EBITDA margin 22.4% (+90 bps).
Raises FY2022 guidance: sales $570-600M, adj. EPS $2.40-2.55 (prev $2.20-2.45).
Non-transportation sales grew 21%, transportation up 4%; Ferroperm acquisition contributed.
Operating cash flow $16.1M, down from $18.7M due to FX impact.

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