---
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"
generated_at: "2026-06-16T09:35:36.268629+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# CTS Q1 sales $146M (-1.2% YoY); adj. EPS $0.61 down 9%; maintains FY guidance

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-015010
- JSON: https://secwatch.observer/filing/0000950170-23-015010.json
- Plain text: https://secwatch.observer/filing/0000950170-23-015010.txt

## Key facts
- Earnings Releases
  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.
  - Period: first quarter ended March 31, 2023
  - 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
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/26058/000095017023015010/0000950170-23-015010-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.