secwatch.observer — SEC 8-K summary
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Issuer:     CTS CORP (CTS)
CIK:        0000026058
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0000950170-23-055368
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CTS Q3 sales down 11% to $135M; adjusted EPS $0.54; cuts full-year guidance
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- Sales: $135M, down 11% YoY; non-transportation down 20%, transportation down 3%.
- Net income $14M (10.4% of sales) vs $12M (7.8%) YoY; diluted EPS $0.44 vs $0.37.
- Adjusted diluted EPS $0.54, down from $0.62; adjusted EBITDA margin 22.5%.
- Updated FY2023 guidance: sales $545-555M (prev $565-585M), adj diluted EPS $2.15-2.25 (prev $2.20-2.40).
- Operating cash flow $22M vs $60M (prior year included $34M one-time pension inflow).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/26058/000095017023055368/0000950170-23-055368-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/26058/000095017023055368/cts-20231026.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-055368

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