CTS Q3 net income $19M, sales $132M; lowers FY sales guidance to $515-525M

CTS CORP

2024-Q3 EPS reported $1.45 revenue$388,336,000

Sales $132M, down 2% YoY; net income $19M ($0.61 diluted EPS) vs $14M ($0.44) in Q3 2023.
Adjusted EPS $0.63, up from $0.54; adjusted EBITDA margin 24.8% vs 22.5% YoY.
Diversified end markets +18% YoY; transport -17% YoY; sequential sales +2%.
Operating cash flow $35M, up from $22M in Q3 2023.
FY2024 sales guidance reduced to $515-525M (prior $525-540M); adjusted EPS reiterated $2.05-$2.25.

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