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Sep 30, 2022
CTS Q3 2022 Earnings Report
CTS delivered strong results driven by diversification strategy and strength in non-transportation end markets.
Key Takeaways
CTS Corporation announced strong third quarter results with a 24% increase in revenue and expansion of Adjusted EBITDA margin by 60-basis points. The company's diversification into non-transportation end markets contributed to the positive performance.
Revenue increased by 24% year-over-year.
Net income was $11.8 million, or $0.37 per diluted share.
Adjusted diluted EPS was $0.62, up from $0.46 in the third quarter of 2021.
Adjusted EBITDA margin was 22.3% compared to 21.7% in the third quarter of 2021.
Revenue by Segment
Forward Guidance
CTS expects full year 2022 sales to be in the range of $585 – $595 million and adjusted diluted EPS in the range of $2.40 – $2.55.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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