secwatch.observer — SEC 8-K summary
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Issuer:     CTS CORP (CTS)
CIK:        0000026058
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0000950170-23-015010
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/26058/000095017023015010/0000950170-23-015010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/26058/000095017023015010/cts-20230427.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-015010

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer