secwatch.observer — SEC 8-K summary
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Issuer:     CTS CORP (CTS)
CIK:        0000026058
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0000950170-23-034232
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CTS Q2 sales flat YoY at $145.2M, net income $12.9M; cuts full-year guidance
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- Q2 sales $145.2M (+0.1% YoY); transportation up 10%, non-transportation down 10%.
- Adjusted diluted EPS $0.59 vs $0.62; adjusted EBITDA margin 21.3% vs 22.4%.
- Full-year 2023 guidance lowered: sales now $565-$585M (was $580-$640M), adjusted EPS $2.20-$2.40.
- Operating cash flow improved to $23.4M from $16.1M; first eBrake award and EV platform wins cited.
- CEO cites continued softness in distribution and industrial end market.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/26058/000095017023034232/0000950170-23-034232-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/26058/000095017023034232/cts-20230725.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-034232

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