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Mar 31, 2020
CTS Q1 2020 Earnings Report
CTS's first quarter results for 2020 were announced, revealing a decrease in sales but an increase in free cash flow.
Key Takeaways
CTS Corporation reported a decrease in sales by 12.4% year-over-year, with sales totaling $103.1 million. Net earnings decreased to $3.8 million, with adjusted diluted EPS at $0.19. Free cash flow increased to $7.4 million, and the company reported new business wins of $105 million.
Sales decreased by 12.4% year-over-year, totaling $103.1 million.
Net earnings were $3.8 million, or $0.12 per diluted share.
Adjusted diluted EPS was $0.19, compared to $0.39 in the first quarter of 2019.
Free cash flow increased to $7.4 million from $4.3 million in the previous year.
Forward Guidance
Due to ongoing market uncertainties, management has withdrawn its guidance for 2020, and is not providing updated guidance at this time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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