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Jun 30, 2022
CTS Q2 2022 Earnings Report
CTS experienced continued growth driven by diversification and portfolio strength.
Key Takeaways
CTS Corporation announced strong second quarter results with a 12% increase in revenue and a 90-basis point Adjusted EBITDA margin expansion. Sales to non-transportation end markets increased 21%, and sales to the transportation end market increased 4%.
Sales were $145.0 million, up 12% year-over-year.
Net income was $12.6 million, or $0.39 per diluted share.
Adjusted diluted EPS was $0.62, up from $0.52 in the second quarter of 2021.
Adjusted EBITDA margin was 22.4% compared to 21.5% in the second quarter of 2021.
Revenue by Segment
Forward Guidance
CTS now expects full year 2022 sales to be in the range of $570 - $600 million, up from the previous guidance of $550 – $580 million, and adjusted diluted EPS in the range of $2.40 - $2.55, up from the previous guidance of $2.20 – $2.45.
Positive Outlook
- Full year 2022 sales are expected to be in the range of $570 - $600 million.
- Adjusted diluted EPS is expected to be in the range of $2.40 - $2.55.
Challenges Ahead
- Management continues to monitor the potential impact of the challenging macro-economic environment and geopolitical events on this guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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