CTS Q4 sales down 12% to $125M; adj. EPS $0.47; launches $100M buyback

CTS CORP

2023-FY EPS reported $1.92 revenue$550,422,000

Q4 sales $125M (-12% YoY); net income $15M; diluted EPS $0.49; adjusted diluted EPS $0.47.
FY2023 sales $550M (-6% YoY); adj. diluted EPS $2.22 (down from $2.46); adj. EBITDA margin 22%.
2024 guidance: sales $530-$570M; adj. diluted EPS $2.10-$2.35; expects soft H1, improving H2.
Board approved $100M share repurchase program, replacing prior program with no expiration date.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CTS CORP reported financial results for the fourth quarter and full-year ended December 31, 2023.

Period: the fourth quarter and full-year ended December 31, 2023
Result: reported results

Exact text from the filing

On February 6, 2024, CTS Corporation (the "Company") issued a press release providing certain results for the fourth quarter and full-year ended December 31, 2023, as more fully described in the press release.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

CTS CORP filing history →

Source: SEC EDGAR

accession 0000950170-24-011541

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