secwatch.observer — SEC 8-K summary
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Issuer:     CTS CORP (CTS)
CIK:        0000026058
Form:       8-K
Filed at:   2024-10-29T23:59:59+00:00
Accession:  0000950170-24-117947
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/26058/000095017024117947/0000950170-24-117947-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/26058/000095017024117947/cts-20241029.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-117947

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