secwatch.observer — SEC 8-K summary
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Issuer:     CTS CORP (CTS)
CIK:        0000026058
Form:       8-K
Filed at:   2024-02-06T23:59:59+00:00
Accession:  0000950170-24-011541
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/26058/000095017024011541/0000950170-24-011541-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/26058/000095017024011541/cts-20240206.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-011541

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