CTS Q1 sales fall 14% YoY to $125.7M; EPS drops to $0.36 from $0.58

CTS CORP

2024-Q1 EPS reported $0.36 revenue$125,750,000

Q1 sales $125.7M, down 14% YoY; non-transportation -17%, transportation -10%.
Net income $11M ($0.36 diluted EPS) vs. $18M ($0.58) in Q1 2023.
Adjusted EPS $0.47 (down from $0.61); adjusted EBITDA margin 20.3% (down from 21.9%).
Operating cash flow improved to $18M from $11M in prior-year quarter.
FY 2024 guidance reaffirmed: sales $530-570M, adjusted EPS $2.10-2.35.

item 2.02 item 7.01 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 the first quarter ended March 31, 2024 results: revenue $125.7 million, net income $11 million, EPS $0.36.

Period: the first quarter ended March 31, 2024
Revenue: $125.7 million
Net income: $11 million
EPS: $0.36
Result: reported results

Exact text from the filing

Sales were $125.7 million, down 14% year-over-year, and up 1% sequentially compared to the fourth quarter of 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CTS CORP reported 2024 results: revenue $530 - $570 million, EPS $2.10 - $2.35. Guidance reaffirmed.

Period: 2024
Revenue: $530 - $570 million
EPS: $2.10 - $2.35
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

CTS is maintaining its guidance of sales in the range of $530 - $570 million and adjusted diluted EPS to be in the range of $2.10 - $2.35.

View on SEC.gov

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Source: SEC EDGAR

accession 0000950170-24-050908

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