Loading...
•
Jun 30, 2021
CTS Q2 2021 Earnings Report
CTS's Q2 2021 results were announced with strong sales and earnings amidst supply chain challenges.
Key Takeaways
CTS Corporation reported strong second-quarter results with a 54% increase in sales year-over-year, reaching $129.6 million. Adjusted diluted EPS rose to $0.52, up from $0.16 in Q2 2020, and free cash flow increased to $16.3 million. The company is updating its 2021 guidance for sales from $445 – $500 million to $480 – $500 million, and for adjusted diluted EPS from $1.35 – $1.70 to $1.70 – $1.90.
Sales increased by 54% year-over-year, reaching $129.6 million.
Sales to transportation customers increased 88%, while other end markets grew 26%.
Adjusted diluted EPS was $0.52, up from $0.16 in the second quarter of 2020.
Free cash flow increased to $16.3 million, up from $9.1 million in the second quarter of 2020.
Forward Guidance
CTS is updating its 2021 guidance for sales from $445 – $500 million to $480 – $500 million, and for adjusted diluted EPS from $1.35 – $1.70 to $1.70 – $1.90.
Positive Outlook
- Updated sales guidance to $480 - $500 million.
- Updated adjusted diluted EPS guidance to $1.70 - $1.90.
- Strong sales performance.
- Strong earnings performance.
- Advancing diversification strategy.
Challenges Ahead
- Supply chain uncertainties.
- Non-cash charge of $20.1 million related to the termination of the U.S. pension plan impacted net earnings.
- Net earnings decreased compared to the second quarter of last year.
- Mindful of supply chain uncertainties
- No other negatives mentioned.
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...