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Mar 31, 2023
CTS Q1 2023 Earnings Report
CTS's first quarter of 2023 saw solid results amidst challenging market dynamics, driven by diversification and new electrification business.
Key Takeaways
CTS Corporation reported sales of $146.0 million, a decrease of 1.2% year-over-year. Net income was $18.3 million, with earnings per share at $0.58. The company maintains its 2023 guidance with sales between $580 - $640 million and adjusted diluted EPS between $2.40 - $2.70.
Sales were $146.0 million, down 1.2% year-over-year.
Non-transportation end market sales increased 4.6%, while transportation end market sales decreased 6.1%.
Net income reached $18.3 million, or 12.6% of sales.
Earnings per share was $0.58 per diluted share.
Forward Guidance
CTS is maintaining its guidance of sales in the range of $580 - $640 million and adjusted diluted EPS to be in the range of $2.40 - $2.70.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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