secwatch.observer — SEC 8-K summary
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Issuer:     CTS CORP (CTS)
CIK:        0000026058
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0000950170-24-050908
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/26058/000095017024050908/0000950170-24-050908-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/26058/000095017024050908/cts-20240501.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-050908

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