Loading...
•
Mar 31, 2024
CTS Q1 2024 Earnings Report
CTS's first quarter 2024 results were announced, highlighting operational performance, profitability, and a continued focus on diversification.
Key Takeaways
CTS Corporation reported first quarter 2024 sales of $125.7 million and net income of $11 million, with earnings per diluted share at $0.36 and adjusted earnings per diluted share at $0.47. The company is maintaining its full-year guidance with sales expected in the range of $530 to $570 million and adjusted diluted EPS between $2.10 and $2.35.
Sales reached $125.7 million, a 14% decrease year-over-year but a 1% increase sequentially.
Net income amounted to $11 million, representing 9% of sales, down from $18 million in the first quarter of 2023.
Earnings per diluted share were $0.36, compared to $0.58 in the same quarter last year.
Adjusted earnings per diluted share were $0.47, a decrease from $0.61 in the first quarter of 2023.
Forward Guidance
CTS is maintaining its guidance of sales in the range of $530 - $570 million and adjusted diluted EPS to be in the range of $2.10 - $2.35.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...