{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-23-015010","form_type":"8-K","ticker":"CTS","cik":"0000026058","company_name":"CTS CORP","filed_at":"2023-04-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:41.688034+00:00","generated_at":"2026-06-16T09:35:36.268629+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"CTS Q1 sales $146M (-1.2% YoY); adj. EPS $0.61 down 9%; maintains FY guidance","bullets":["Sales $146.0M, down 1.2% YoY; non-transportation up 4.6%, transportation down 6.1%.","Net income $18.3M (12.6% of sales) vs $20.2M (13.7%) in Q1 2022.","Adjusted diluted EPS $0.61, down from $0.67; GAAP EPS $0.58 vs $0.63.","Adjusted EBITDA margin 21.9% vs 23.5%; operating cash flow $11.2M vs $19.3M.","FY 2023 guidance maintained: sales $580-$640M, adjusted diluted EPS $2.40-$2.70."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-23-015010","json":"https://secwatch.observer/filing/0000950170-23-015010.json","markdown":"https://secwatch.observer/filing/0000950170-23-015010.md","text":"https://secwatch.observer/filing/0000950170-23-015010.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/26058/000095017023015010/0000950170-23-015010-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/26058/000095017023015010/cts-20230427.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T09:35:36.268629+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"6aa377dac96a718e5f57f7d3ca76da90a40da600","claim":"CTS CORP reported first quarter ended March 31, 2023 results: revenue Sales were $146.0 million, net income Net income was $18.3 million, EPS Earnings per share was $0.58 per diluted share. Guidance reaffirmed.","evidence_excerpt":"First Quarter 2023 Results • Sales were $146.0 million, down 1.2% year-over-year. Sales to non-transportation end markets increased 4.6%, and sales to the transportation end market decreased 6.1% over the same period. • Net income was $18.3 million, or 12.6% of sales, compared to $20.2 million, or 13.7% of sales, in the first quarter of 2022. • Earnings per share was $0.58 per diluted share compared to $0.63 per diluted share in the first quarter of 2022. • Adjusted diluted EPS was $0.61 down from $0.67 in the first quarter of 2022. • Adjusted EBITDA margin was 21.9% compared to 23.5% in the first quarter of 2022. • Operating cash flow was $11.2 million compared to $19.3 million in the first quarter of 2022. 2023 Guidance CTS is maintaining its guidance of sales in the range of $580 - $640 million and adjusted diluted EPS to be in the range of $2.40 - $2.70.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/26058/000095017023015010/0000950170-23-015010-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2023"},{"label":"Revenue","value":"Sales were $146.0 million"},{"label":"Net income","value":"Net income was $18.3 million"},{"label":"EPS","value":"Earnings per share was $0.58 per diluted share"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}