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Sep 30, 2021
CTS Q3 2021 Earnings Report
CTS's financial performance reflected growth driven by diversification and strategic execution.
Key Takeaways
CTS Corporation announced third quarter 2021 results with sales up 8% year-over-year, driven by growth in non-transportation end markets. The company reported a net loss impacted by a non-cash pension plan termination charge, but adjusted diluted EPS increased. CTS has raised and narrowed its 2021 guidance for sales and adjusted diluted EPS.
Sales increased by 8% year-over-year to $122.4 million.
Non-transportation end market sales increased by 24%.
Net loss was $63.9 million, or $(1.97) per diluted share, impacted by a non-cash charge related to the U.S. pension plan termination.
Adjusted diluted EPS was $0.46, up from $0.34 in the third quarter of 2020.
Revenue by Segment
Forward Guidance
CTS has raised and narrowed its 2021 guidance for sales to $495 – $505 million and for adjusted diluted EPS to $1.85 – $1.95.
Positive Outlook
- Sales guidance raised to $495 - $505 million.
- Adjusted diluted EPS guidance raised to $1.85 - $1.95.
Challenges Ahead
- Management remains mindful of supply chain uncertainties.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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