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Mar 31, 2022
CTS Q1 2022 Earnings Report
CTS Corporation demonstrated solid growth and advanced diversification strategy.
Key Takeaways
CTS Corporation reported a 15% increase in revenue and an adjusted EBITDA margin expansion of 350 basis points in Q1 2022. The company's diversification strategy and strong balance sheet were key factors in its performance. They anticipate non-transportation end markets to be closer to 50% of total revenues in the year ahead.
Sales were $147.7 million, up 15% year-over-year.
Net income was $20.2 million, or $0.63 per diluted share.
Adjusted diluted EPS was $0.67, up from $0.46 in the first quarter of 2021.
Adjusted EBITDA margin was 23.5% compared to 20.0% in the first quarter of 2021.
Revenue by Segment
Forward Guidance
CTS now expects full year 2022 sales to be in the range of $550 – $580 million and adjusted diluted EPS in the range of $2.20 - $2.45.
Positive Outlook
- Full year 2022 sales to be in the range of $550 – $580 million.
- Adjusted diluted EPS in the range of $2.20 - $2.45.
Challenges Ahead
- Impact of inflation
- Supply chain issues
- COVID 19-related disruptions in China
- Geopolitical risks
Historical Earnings Impact
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Avg. Return Before/After Earnings
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